Caprolactam Global Market Analysis and Forecast 2019 to 2024-Increasing Demand for the Production of Nylon 6 Fibers
08 Jun 2019
The global caprolactam market is expected to record a CAGR of 3.47% during the forecast period of 2019 and 2024.
Major factors driving the market studied are the increase in the demand for nylon 6 and in the demand for lightweight vehicles in the automobile industry. Stiff competition from nylon 6/6, nylon MDS, and polybutylene terephthalate (PBT) is expected to hinder the growth of the market studied.
The nylon 6 fibers segment dominated the market in 2017, and it is expected to register a high growth rate during the forecast period, owing to the increasing demand from the textile and carpets industry across the world.
Increasing focus on recycling caprolactam is likely to act as an opportunity in the future.
Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China and South Korea.
Increasing Demand for the Production of Nylon 6 Fibers
The nylon 6 fibers segment dominated the market in 2017, and it is expected to register a high growth rate during the forecast period, owing to the increasing demand from the textile and carpets industry across the world. Production of nylon 6 fibers is one of the major applications of caprolactam, which accounts for over 56% of the caprolactam market
Nylon 6 fibers are wrinkle proof and highly resistant to abrasion and chemicals, such as acids and alkalis. Moreover, it is easy to dye these fibers, which primarily produce deep and bright shades, while offering high strength and lightweight.
Nylon 6 fibers have varied applications in sportswear, swimwear, hosiery, and fashion wear. They have great stretch fit properties when combined with spandex fibers.
Apart from clothing, nylon 6 fibers have other industrial applications, like tarpaulins, fishing nets, and tarpaulins. Moreover, they are used in packaging applications, as they have good mechanical, optical, and barrier properties.
Nylon 6 fibers are extensively used in the production of fishing nets, tire yarns, sewing threads, industrial drivebelts, etc.
Though the nylon 6 fiber segment is saturated in western countries, it is growing considerably in the Asian region, particularly in China. Owing to competition from other materials, like nylon 66 and polyester, the nylon 6 segment's growth is expected to be sluggish during the forecast period.
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