Caprolactam
Market – Overview:
Caprolactam are predominantly utilized in number of
end use application such as textile stiffeners, textile yarns, synthetic
leather, plastics, film coatings, plasticizers, and others. Caprolactam market
is estimated to witness moderate growth owing to their broad range of
application usage specifically in textile and automotive. Furthermore,
caprolactam is used to produce nylon 6 which is further utilized in automotive
and construction sector. Moreover, rising per capita disposable income along
with increasing vehicle production and sales in emerging economies is estimated
to drive the market growth. In addition, growing building & construction
activities in developed and developing economies is estimated to propel the
growth of the market. Furthermore, increasing demand for light weight
automotive parts along with high adoption rate in end use industries is
expected to fuel the growth of the market over the forecast period.
Geographically, Asia Pacific emerged as the largest
market for caprolactam in 2016, followed by Europe and North America. The North
American caprolactam market is estimated to witness steady growth with a moderate
CAGR over the forecast period owing to robust growth of textile and sports
industry combined with rising maintenance activities in this region. In North
America the market is further classified into Canada and the U.S., among them
the U.S. emerged as the leading market and accounted for more than half of the
total regional market share of caprolactam due to strong adoption rate from
textile industry. Asia Pacific is predicted to witness tremendous growth over
the assessment period, during 2017 to 2023. The demand for caprolactam is
expected to raise in numerous developing and developed countries of Asia
Pacific such as China, India, Japan, Singapore, Australia, Taiwan, Malaysia,
Thailand, and South Korea on account of increasing population along with shifting
of manufacturing unit for many key market players in this region. In Europe,
caprolactam market is foreseeable to register above average growth due to
shifting consumer preference towards the caprolactam based sporting material
combined with the strong presence of automotive manufacturers specifically in
Germany, Italy, U.K., Spain, Russia, and France. In addition, numerous
countries of Latin America and the Middle East & Africa are estimated to
witness average growth in caprolactam due to rising per capita disposable
income coupled with growing sales of passenger cars specifically in Argentina,
Brazil and Mexico rising construction activities in Saudi Arabia, Kuwait,
Qatar, and the UAE.
Global Key Player:
·
China Petroleum &
Chemical Corporation
·
BASF SE
·
Honeywell International Inc
·
Kuibyshevazot Ojsc
·
Lanxess Ag
·
Royal DSM N.V.
·
Shandong Haili Chemical
Industry Co. Ltd.
·
Sumitomo Chemical Company
Limited
·
UBE Industries
·
China Petrochemical
Development Corporation (CPDC)
Industry/ Innovation/ Related
News:
January 2018- Genomatica, a U.S. based organization established an agreement with
Aquafil, an Italian based manufacturer to develop sustainable caprolactam
genomatica. This company aims to offer environmentally friendly way to produce
intermediate with improved economics.
April 2017- LANXESS announced to expand its caprolactam production capacity at its
Antwerp plant. The investment will cost around USD 31 million. With this
acquisition the company plans to strengthen its integrated production complex
for polyamide and precursor for plastics in Antwerp.
October 2016- Fertilizer and Chemicals Travancore Limited (FACT) announced to resume
their caprolactam manufacturing to enhance their financial prospects in the
coming months. This production plant has a capacity of 50,000 tonnes of the
organic compound. This strategic move will help the company to meet the
increasing demand of caprolactam in Asia Pacific region.
June 2016- Unipetrol, a Europe based petrochemical organization announced to
acquire Spolana, which produces industrial fertilizers, PVC, caprolactam, and
other inorganic compounds. This acquisition will help company to optimize their
manufacturing function and strengthen its market position across the globe.
Competitive Landscape;
The
caprolactam report has analysed the level of competition among the major
manufacturers as well as sector growth and market scenario. The global
caprolactam market comprised of a large number of suppliers operating in the
market which comprises large scale and medium scale manufacturers. The
prominent manufacturers of caprolactam as well as medium level producers which
has strong hold in the market have shifted their focus towards growth
association specifically by Asia Pacific as small level and medium level
suppliers belongs to this region specifically from Thailand, India, Singapore,
Australia, Taiwan, Malaysia China, South Korea, Bangladesh, Indonesia, and
Japan. On the other hand, the major manufacturers of caprolactam is following
various strategic plans to improve their product portfolio by set up research
and development centres across the various locations in world, strategic
acquisition and mergers, joint ventures, product launches, and exclusive
agreements. Some of the key players in this market are growing their production
capacity of caprolactam to meet the rising demand for caprolactam across the
globe.
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