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 the basic raw material required in the manufacture of nylon 6 resin and nylon 6 fibers, which account for 26.13% and 52.94% revenue shares, respectively in 2016. Nylon 6 fibers are widely used in manufacturing of carpets, textiles and industrial yarns, while nylon 6 resin are used in automotive and electrical & electronics components manufacturing industry. The growing automotive industry in Asia Pacific is expected to fuel growth of the nylon 6 resin market. For instance, U.S.-based General Motors plans to invest US$ 1 billion in India by 2020, to increase production capacity of its Talegaon plant in Maharashtra from 30,000 units to 220,000 units per year by 2025. Moreover, the booming economy of India is propelling the rise of textile industry across the region. For instance, the Government of India is actively encouraging new entrepreneurs to invest in textiles sector by increasing allocation of funds to Mudra Bank from US$ 20.4 billion to US$ 36.6 billion. This in turn would fuel growth of the caprolactam market during 2017-2025.
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