Caprolactam Market Strategic Analysis 2021 : Chemical Corporation (Sinopec Limited), Kuibyshevazot Ojsc, Royal DSM N.V
Market Overview
The worldwide caprolactam market is likely to
generate USD 14.9 billion by 2019. The market is expected grow at a CAGR of
8.1% from 2016 to 2022. Caprolactam is an organic compound. This colorless
solid is a cyclic amide or a lactam of caproic acid. Caprolactam is a medium
primarily used in the production of resins and nylon 6 fibers. Caprolactam is
majorly consumed in the production of nylon fibers for carpet, industrial
yarns, and textile. Besides, it finds wide applications in films and
engineering resins. Nylon 6 textile fibers can be combined with
elastane/spandex fibers to create good stretch-fit properties. Nylon 6 finds
application in industries such as sportswear, apparel, hosiery, swimwear,
casual, and fashion wear. Rugs and carpets made from nylon are available in many
structures, styles, patterns, and colors. They provide good abrasion and wear
properties. Nylons are easy to clean and stain resistant. The fibers can also
be recycled back to caprolactam. Furthermore, nylon cords are used in heavy
duty bias tires for bus and truck, off-the-road, industrial, and agricultural
purposes. Nylon offers durable and strong properties coupled with high fatigue
resistance making it apt for heavily loaded carriages. It is also used in
industrial fiber for manufacturing ropes, fishing lines, tarpaulins, and nets. Caprolactam
finds wide application during the production of nylon 6 resins and nylon 6
fibers. Nylon 6 fibers and nylon 6 resins account for more than 97% of the
total caprolactam manufactured throughout the world. Moreover, Nylon 6 has excellent
elasticity and strength. Nylon 6 comes with damage resistance from oils,
abrasion resistance, and chemical resistance. The benefits have surged the usage
of nylon 6 in an extensive range of applications across the automotive, electrical,
textile, and electronics industries. Nylon is high-temperature resistant and
can be dyed with the desired color for enhancing visual appeal. With the increasing
industrial importance of nylon, the global caprolactam market is expected to
witness substantial growth over the forecast period.
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However, the adverse environmental impacts of caprolactam
is likely to influence the global caprolactam market negatively.
Market
Segmentation
The global caprolactam market has been segmented
based on end-use and source. Based on source, the market has been segmented
into Toluene, Cyclohexane, and Phenol. Based on End-Use, the market has been
segmented into Textile Stiffeners, Textile Yarns, Synthetic Leather, Film
Coatings, Plasticizers, Plastics, and others.
Regional
Analysis
Geographically,
the global caprolactam market has been segmented into North America, Europe,
and Asia Pacific. APAC market holds a remarkable share in caprolactam production.
China is likely to witness a sharp increase in the caprolactam
production owing to the installation of new and updated capacities. The
introduction of new capacities is anticipated to curtail caprolactam
prices over the forecast period. The Chinese producers are struggling to
offload their high inventories, which is leading to week-on-week lower offers.
Additionally, consumers in China are gradually opting for the domestic market
to meet their inventory requirements in view of the fluctuating US
dollar-Chinese yuan exchange rates. However, China’s environmental policies are
imposing emission control measures which is likely to restrict the caprolactam
market to a certain extent. The Asia-Pacific market is
followed by Europe. Europe market registers growth owing to the increasing
demand for apparels in the market. The North America market has been recording sluggish
growth over
the forecast period.
Key
Players
The global
caprolactam market has been dominated by key players such as Honeywell
International Inc, BASF SE, China Petroleum & Chemical Corporation (Sinopec
Limited), Kuibyshevazot Ojsc, Royal DSM N.V., Lanxess Ag, Sumitomo Chemical
Company Limited, Shandong Haili Chemical Industry Co. Ltd., China Petrochemical
Development Corporation (CPDC), UBE Industries, and others.
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