The Global Caprolactam Market was valued at US$ 11,453.48 million in 2016, according to a new report published by Coherent Market Insights. The increasing use of caprolactam in the end-use industries such as automotive, textile and electrical & electronics industry is expected to fuel the market of caprolactam. Asia Pacific is poised to be the growth engine of caprolactam market due to growing economy and changing lifestyle. Moreover, increasing population and growing demand for nylon 6 resin further lends traction to the caprolactam market. China is expected to dominate the caprolactam market in 2016 due to rapid growth of electrical and electronic end-use industries in the region. Stringent government regulation are expected to be key challenges for growth of the caprolactam market during 2017-2025. For instance on October 18, 2011, the Ministry of Commerce of the People’s Republic of China (MOFCOM) introduced regulation as per announcement no. 68 of 2011, to carry out anti-dumping measures against imports of caprolactam from U.S. and Europe.
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Caprolactam is widely used as a raw material in the production of nylon 6 resin and nylon 6 fibers, and around 26.13% and 52.94% revenue shares of caprolactam market, were obtained from the nylon 6 resin and nylon 6 fibers, respectively in 2016. Nylon 6 fiber is used to manufacture carpets, textiles, and industrial yarns, while nylon 6 resin has wide applications in the automotive, electrical, and electronics components manufacturing industries. The growing automotive industry in Asia Pacific is expected to fuel growth of the nylon 6 resin market, which in turn, is expected to boost growth of the caprolactam market. For instance, General Motors, a U.S.-based company announced plans to invest US$ 1 billion in India by 2020. The company plans to increase production capacity of its Talegaon plant in Maharashtra from 30,000 units to 220,000 units by 2025. The growing textile industry across the Asia Pacific, owing to growing textile industry in economies such as India is expected to boost growth of the caprolactam market. For instance, the Government of India is actively encouraging new entrepreneurs to invest in the textile sector by increasing allocation of funds to Mudra Bank from US$ 20.4 billion to US$ 36.6 billion.
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