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Caprolactam Market by Application, Nylon 6 Engineering Plastics, Region - Global Forecast to 2023

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Abhijeet W
Caprolactam Market by Application, Nylon 6 Engineering Plastics, Region - Global Forecast to 2023

The market for caprolactam is estimated to grow from USD 13.1 billion in 2018 to USD 15.6 billion by 2023, at a CAGR of 3.59% during the forecast period. The base year considered for this study is 2017 and the forecast period is from 2018 to 2023.

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♦ Premium Insights -
   4.1 Attractive Opportunities in the Caprolactam Market
   4.2 Caprolactam Market, By Application
   4.3 Caprolactam Market, Developed vs. Developing Countries
   4.4 APAC Caprolactam Market
   4.5 Caprolactam Market Attractiveness

The caprolactam market comprises several stakeholders such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations. The demand side for this market is characterized by the development of nylon 6 fibers, nylon 6 engineering plastics, films, and other applications and the growth in population. The supply side is characterized by advancements in diverse applications.

• Need for lightweight automotive vehicles

The application of polyamide 6 in the automotive sector started in the 1950s. The application was limited to seat covers and a few small parts of automobiles. After 2000, the application of polyamide 6 in the automotive sector increased to a great extent.

In new generation vehicles, strength-weight matrices are very critical. New generation vehicles are based on the principle of lightweight and strong structures made up of different advanced materials. These advanced materials are used in different vehicle parts. The metal usage is replaced by these advanced materials and plastics in order to reduce the total weight of the vehicle.

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• Strict regulations in China

In China, there are various regulations pertaining to the use of chemicals such as occupational exposure limits for hazardous chemicals, safety rules for classification, precautionary labeling and precautionary statements of chemicals, regulations on the safe management of hazardous chemicals, and restrictions and prohibitions regarding the import and export of certain chemicals. The Chinese caprolactam market is entirely domestic at the moment; the products are sold locally as high taxes make it difficult for them to export their products. Some cyclohexanone plants remain unable to operate at full capacity in the country due to strict emissions control.

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Abhijeet W
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