Market Research Global Caprolactam Market | Page 2

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westernization, increasing disposable income and growing demand for convenience food across
the globe, is expected to fuel demand for specialty films for packing. Nylon 6 is a key
constituent in specialty films. The market is expected to gain traction in Asia Pacific due to
burgeoning growth of various end-use industries in China and India. As per Coherent Market
Insights, the nylon 6 fibers segment accounted for 52.94% revenue share in 2016.
Plummeting costs of caprolactam due to increasing production capacity and oversupply is
expected to be the key challenge for caprolactam market. As a result, from 2011, continuous
caprolactam production capacity reduction are taking place to provide stability in supply and
price. On September 12, 2016, BASF SE announced plans to reduce caprolactam production at
its Ludwigshafen plant by 100,000 MT over the following 18 months. Moreover, DSM
Chemicals plans to cease operations at its caprolactam plant in the U.S. by the end of 2017.
Furthermore, according to Coherent Market Insights analysis, due to continuing oversupply of
caprolactam by China, some existing caprolactam plants are expected to shut down during the
forecast period.
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The global caprolactam market size is estimated at US$ 11,453.48 million (revenue) and
5,747.09 kilo tons (volume) in 2016 and is expected to expand at a CAGR of 4.6% in terms of
revenue and 2.7% in terms of volume from 2017 – 2025.
Asia Pacific, followed by Europe and North America accounted for major share in the global
Caprolactam market both in terms of revenue and volume in 2016 and the trend is estimated to
remain the same over the forecast period. In 2016, Asia Pacific held a share of 64.71% in terms
of volume, followed by Europe (13.67%). The increasing sales for automobile in Asia Pacific
due to growing population, increased urbanization and growing export of automobiles is
expected to drive growth of the global caprolactam market over the forecast period. For
instance, in 2016, according to Society of Indian Automobile Manufacturers (SIAM), Indian
automobiles exports for FY2016 totaled 3,641,212 units. According to the stats by Coherent
Market Insights, the global nylon 6 fiber market is expected to witness a CAGR of 4.5% from
2017-2025 in terms of revenue, which is expected to fuel the global Caprolactam market.