Caprolactam Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025
Technavio has been monitoring the caprolactam market and it is expected to grow by $ 5.75 billion, accelerating at a CAGR of almost 7.07% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Caprolactam Market: Key Trends to impact market growth
Growth by the nylon 6 fibers segment will be significant during the forecast period. Nylon 6 fibers offer features such as its lightweight and high strength, which will drive the demand for nylon 6 from the textile industry. APAC has been exhibiting a significant growth rate for caprolactam market vendors. Factors such as the growing automotive and electronics industries in the region are accelerating market growth in APAC.This research report provides a detailed impact analysis of all the trends that are likely to influence the growth of the market in focus.
Caprolactam Market: Top Drivers to Boost Demand
Commercial importance of nylon is one of the primary factors driving the growth of the caprolactam market. The non-conducting and heat-resistant properties of nylon have increased its use in the electronics industry. As nylon 6 has a low coefficient of friction, it is being used in sliding or rotating mechanisms. The surface abrasive wear-resistant properties of nylon facilitate its use in the manufacture of industrial bearings. The report provides a detailed study of all the factors that are likely to boost the market. This analysis will enable clients to leverage growth opportunities to their advantage and set their business on the right track.
Vendor Analysis: AdvanSix Inc., Alpek SAB de CV and Aquafil Spa are key growth contributors
The market is fragmented. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. AdvanSix Inc., Alpek SAB de CV, Aquafil Spa, BASF SE, China Petrochemical Development Corp. Ltd., Grupa Azoty SA, Highsun Holding Group, LANXESS AG, Sumitomo Chemical Co. Ltd., and Ube Industries Ltd. are some of the major market participants.
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Caprolactam Market: Key Highlights of the Report for 2021-2025
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