The growing adoption of nylon clothing is predicted to boost the growth of the market during the forecast period, states Fortune Business Insights, in a report, titled “Caprolactam Market Size, Share & Industry Analysis, By Application (Nylon 6 Fibers {Textile & carpet, Industrial Yarn, Other}, Nylon 6 Resin {Engineering Resin, Films}, Other) and Regional Forecast, 2024-2032.” The growing production of films is expected to foster the healthy growth of the market.
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The report on the caprolactam market encompasses:
Thorough report of the market
Noteworthy data about eminent players
Key market drivers and restraints
Latest developments
Controlling regions in the industry
Market Driver:
Acquisition of Fibrant by Highsun to Aid Market Expansion
Highsun Group, a major Chinese leader in petrochemical business announced that it has successfully acquired Fibrant from DSM and CVC capital. The company was previously owned by DSM (35% stake) and investment fund CVC Capital Partners (65% stake). The company produces 400 KT/year caprolactam. The growing demand for nylon 6 fiber in the production of track pants, jackets, pantyhose, swimwear, and other hosiery clothes is expected to have a tremendous impact on the market. The surging sports industry is expected to create lucrative business opportunities for the market in the forthcoming years. The increasing manufacturing of films is expected to fuel the demand for the market.
Nevertheless, the overcapacity of caprolactam around the world is expected to limit its adoption in various industries. Also, the low operating rates and declined export activities are factors expected to restrict the growth of the market in the forthcoming years.
The Report Lists the Main Companies in the Caprolactam Market:
BASF SE
SINOPEC
LANXESS
DOMO Caproleuna
UBE
Spolana
Fibrant (Highsun Group)
SHCHEKINOAZOT
Luxi Chemical Group
Regional Analysis:
High Consumption in China to Foster Growth in Asia Pacific
The market in Asia Pacific is expected to witness a high growth rate during the forecast period owing to the rising consumption of caprolactam in China. Decreasing crude oil prices are expected to further aid the production of caprolactam in the region. The market in Europe is expected to hold the highest share owing to the increasing export and consumption activities in the UK, Germany, France, Spain, Italy. The market in North America is expected to grow rapidly owing to the rising production of caprolactam. The changing trade policies are expected to favor growth in the region. GCC countries dominate the Middle East & Africa region. However, political turmoil and economic instability are expected to hinder the growth in the region. The market in Latin America is expected to grow tremendously owing to the rising socio-economic stability in the region.
Information Source:https://www.fortunebusinessinsights.com/caprolactam-market-102791