-- Introduction
A chemical is a distinctive substance or compound, especially one that has been artificially made or purified. It can be in the form of any liquid, solid or gas, and can be a pure substance or a mixture such a solution, compound or gas. Chemicals can be broadly classified into organic chemicals, which contain carbon, and inorganic, which are derived from metals and other minerals. Chemicals are often used as raw material for various industrial processes.
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Key Players
The Global Caprolactam market report profiles the following companies-
BASF, DSM, Honeywell, Toray Industries, Sinopec Ltd., UBE Industries, Capro Corp., Sumitomo Chemical Co. Ltd., Braskem SA, Lanxess AG, DOMO Caproleuna, and GFSC.
Key market segments covered
By End Product
Nylon 6 resins
Nylon 6 fibers
Others
By Application
Engineering Resins & Films
Industrial Yarns
Textiles & Carpets
Others
By Region
Asia Pacific
Europe
North America
South America
Rest of the World
In 2017, the global caprolactam market was valued at USD xx million and is estimated to reach USD xx million by 2025, with a CAGR of xx percent over the 2018 to 2025 forecast period. Nearly all the caprolactam generated goes into Nylon 6 production. It is also used in multiple pharmaceutical drug synthesis. Drivers & Restraints A main driver for the market is the growing demand for Nylon 6 from the automotive sector. Due to its inherent characteristics such as high tensile strength, durability and fatigue resistance, nylon 6 fibers are widely used in the automotive industry, which contains tire cables, engine covers, gears and bearings.
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Drivers & Restraints
The increasing demand for Nylon half-dozen from automotive business may be a primary driver for the market. Nylon half-dozen fibers are extensively utilized in the automotive business which has tire cords, engine covers, gears, and bearings, attributable to its intrinsic properties like high lastingness, sturdiness and fatigue resistance. because the automotive sector is flourishing worldwide, it'll increase the demand for Nylon half-dozen that successively will boost the worldwide caprolactam market. The volatility within the staple costs will hinder the expansion of the market throughout the forecast amount.
In the current rise in climate changes and environmental threats, environmentally safe production has become a primary driver of the industry and an effective measure towards eco-friendly practices, which will reduce pollution and emission levels. Many large-scale chemical companies are focusing on producing ecologically safe products and reducing their carbon footprint along with lowering their waste production. A significant increase in investment has been observed, in multiple sectors - from materials for high efficiency photovoltaic and fuel cells to water purification membranes and sustainable agriculture. The increasing awareness, and government initiatives to ensure the reduction of carbon emission, and the focus of commercial players towards reducing the carbon content in products, is expected to drive the growth of the chemical industry.
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Name: Norah Trent
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Organization: WISE GUY RESEARCH CONSULTANTS PVT LTD
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Release ID: 524194
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