Caprolactam is a colorless solid used for many industrial applications including manufacturing of synthetic fibers. Handling and manufacturing processes of this product require extreme care as acute as well as chronic exposure to this product may result in several health side effects in humans. However, the quality, durability and other characteristics of these products have increased its range of applications around the world. Immense rise in the demand from different industrial verticals is expected to play a crucial role in the overall growth of the caprolactam market in the years to come. According to the experts, innovative applications are also expected to create essential growth opportunities in the global market. Key players from around the world are expected to engage in mergers and acquisitions in order to attract the emerging regions.
Scope of Research – Segmentation
In order to understand the trends and growth prospects in the market, one should understand the individual growth of all the components of the industry. Hence, the researchers have segmented the global caprolactam market into different types of materials, their basic applications, and their demand across different geographic regions. The types of materials are mainly divided into two segments, which include engineering plastics and fibers. Basic applications of the fibers include industrial, textile, staple and carpets. Basic applications of engineering plastics include film and coatings, automotive, consumer goods, electrical and electronics, wires and cables, appliances and others. On the basis of the geographic regions, the market is categorized into Europe, Asia Pacific, North America and rest of the world
Thanks to the key driving factors for the market, the overall products in this market are expected to witness steady rise in the demand. These driving factors include growth in the emerging economies, especially across different industrial segments and growth in the film and coating applications are expected to create growth opportunities in this market. Strong development of the global automotive market is also expected to create potential growth opportunities for the key players in this industry. Increasing trends towards reducing weights of the vehicles are also contributing to the rising demand for the caprolactam products. Opportunities from regulatory regions are also expected to drive the market. As a result, despite the restraints like economic slowdown in Europe and degradation of properties of these products, the overall market is set to witness steady growth.
As per the latest market research reports, the global caprolactam market is expected to maintain a steady rise in CAGR, from 2014 to 2019. At the projected growth rate, the industry is projected to reach $18, 659.2 million by the end of the year 2019. During the study span, Asia Pacific region is expected to dominate the overall market, mainly because of the significant industrial growth in the region.