Global Caprolactam Market was (Pune)

Global Caprolactam Market was

Global Caprolactam Market was valued at US 12.17 Bn in 2017 and is estimated to reach US 19.23 Bn by 2026 at a CAGR of 5.89 %. Escalating demand for plastics in the construction automotive and electrical & electronics sectors is estimated to be a key driver for the caprolactam demand during the forecast years. Superior properties of caprolactam including high strength elasticity abrasion resistance chemical & oil resistance along with low moisture absorbency of nylon fibers and resins is further fuelling the caprolactam demand. Instability in raw material cost for producing the caprolactam restrains the caprolactam market to some extent. While unstable raw material prices and concentration of demand of the caprolactam are the key challenges for caprolactam market. Nylon 6 fibers are dominating application segment of caprolactam market. Demand of the caprolactam is largely dependent on the need for nylon 6 fibers and resins in various end-use applications. Caprolactam is used in the synthesis of nylon 6 fibers which is further used in the production of textile fibers industrial fibers and carpets. Furthermore increasing demand for nylon 6 polymers in apparels sportswear swimwear and fashion wear. However caprolactam prices are expected to increase over the forecast period owing to highly volatile raw material prices. Caprolactam is used in numerous end-use industries including as textile yarn industrial yarn engineering plastics carpet fibers and staple fibers. The textile industry is dominating segment application segment of caprolactam market.