Caprolactam Status and Trend Report by 2022
The global Caprolactam
Market is projected to reach USD 15.74 billion by 2022, according to a
new report by Grand View Research, Inc. Rising need for nylon 6 resins and
fibers, on account of the growing electronics industry in China, has resulted
in a significant increase in demand for the product over the past few years.
Growth of the automotive industry, particularly in emerging
economies of China, Brazil and India, coupled with rising disposable income of
consumers, is expected to augment engineering plastics demand. Development of
the fabrics industry is also anticipated to result in high product demand over
the forecast years. Nylon 6 is employed in numerous applications including the
production of industrial yarns, floor coverings, engineering plastics, and
films. Growth in these end-use segments is expected to augment product demand,
which will further have a positive impact on the industry growth over the
forecast years.
Caprolactam manufacturing requires low technical complexity
and low initial infrastructure investment. High demand for nylon 6 resins and
fibers has resulted in a significant demand for the product over the past few
years, and this trend is expected to continue over the forecast period. In
addition, technological innovations are being done to improve manufacturing
process of the product in order to minimize the release of ammonium sulfate
(by-product), due to its hazardous nature, is expected to have a positive
impact on the industry.
Textile yarn was the largest application segment of caprolactam
in 2015. Caprolactam is extensively used in the production of nylon 6 fibers.
Nylon fabric is employed in the manufacturing of various apparel including
sport wear, cycle wear and swim wear. In addition, nylon 6 fibers are used in
manufacturing house furnishings. Growing demand for nylon fabric in the textile
industry is expected to augment product demand over the next seven years.
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