In 2016, Asia Pacific Accounted For The Largest Share Of The Global Caprolactam Market In Terms Of Revenue And Volume

 

Caprolactam

Because of their high tensile strength and elasticity, nylon 6 fibre and nylon 6 resin have a wide range of applications in the automotive and textile industries. Vehicle weighting is being prioritised by automakers in order to improve fuel efficiency and performance. As a result of their high temperature and chemical resistance, polyamide 6 and nylon 6 are rapidly replacing metallic parts in automobiles. Polyamide 6 or nylon 6 is used to make door handles, air bag containers, radiator grilles, relay boxes, air intake manifolds, and engine covers, among other things. Furthermore, due to its high electrical insulation and low weight when compared to metal tubes, nylon 6 has a wide range of applications in the electrical and electronic equipment industry, including circuit breakers, voltage switchgears, contactors, and connectors, among others.

 

Caprolactam costs are expected to fall due to increased production capacity and oversupply, which will be a major challenge for the Caprolactam Market. As a result, beginning in 2011, continuous caprolactam production capacity reductions are being implemented to ensure supply and price stability. BASF SE announced plans to reduce caprolactam production at its Ludwigshafen plant by 100,000 MT over the next 18 months on September 12, 2016. Furthermore, DSM Chemicals intends to close its caprolactam plant in the United States by the end of 2017. Furthermore, due to China's ongoing caprolactam oversupply, some existing caprolactam plants are expected to close during the forecast period, according to Coherent Market Insights analysis.

 

In 2016, Asia Pacific accounted for the largest share of the global Caprolactam market in terms of revenue and volume, followed by Europe and North America, and this trend is expected to continue over the forecast period. In terms of volume, Asia Pacific held a 64.71 percent share in 2016, followed by Europe (13.67 percent ). Increased automobile sales in Asia Pacific as a result of rising population, urbanisation, and increased automobile exports are expected to drive growth in the global caprolactam market over the forecast period. According to the Society of Indian Automobile Manufacturers (SIAM), Indian automobile exports totaled 3,641,212 units in 2016.

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