China’s Caprolactam Market Share, Trends And Forecast Report : Radiant Insights,Inc
Key manufacturers operating in global caprolactam market encompass Honeywell International Inc., China Petroleum& Chemical Corporation, Royal DSM, and BASF SE.
San Francisco, United States – July 28, 2016 /MarketersMedia/ —
The global caprolactam market size is projected to cross USD 15.30 by 2022.Caprolactom is the colorless solid organic compound which is lactam of caproic acid. Nearly 4.5 billion kilograms are manufactured yearly. It is the precursor to Nylon 5, extensively used synthetic polymer. Caprolactom was first depicted in the late 1800s. It was prepared by the cyclization of aminocaproic acid. This acid is the product of the hydrolysis of the caprolactum.
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The global market is segmented by end-users, applications, and regions. End-users are industrial yarn, textile yarn, engineering plastics, and carpet fibers & staple fibers. Textile yarn led the market with the highest shares in 2014.
It accounted more than 45% of the total shares in that year. Industrial yarn grabbed the second position in the market with above 2 billion in 2014. Expanding consumption of this end-user for slings, hoses, and geotextiles will boost the segment from 2015-2022. Demand for engineering plastics was close to 950 kilo tons in 2014.
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Applications in the total market consist of nylon 6 fibers and nylon 6 resins. The former contributed for notable shares in 2014. It generated revenues over USD 5.80 billion in the aforementioned year. They are essentially used in the manufacturing of textiles, electrical cables, and food packaging material. Growth in food & beverage in textile sector mainly in Europe will positively impact the segment. On the other hand, nylon 6 resins will grow lucratively with the healthy CAGR of 5.1% over the forecast period.
Main regional segments of the global caporolactum market encompass Asia Pacific, North America, Europe, the Middle East & Africa (MEA), and Latin America. Asia Pacific was valued at over 55% of the total revenue shares in 2014. This region will escalate on account of brisk industrialization resulting in the establishment of several appliance and automotive manufacturing plants mainly in India and China. Europe held the second biggest position in the global market in 2014. It generated USD above 2 billion in the same year.
Key manufacturers operating in global caprolactam market encompass Honeywell International Inc., China Petroleum& Chemical Corporation, Royal DSM, and BASF SE.
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