According to the research report titled ‘Caprolactam Market Share, Size, Trends, Industry Analysis Report, By End-Product; By Application; By End-Use, By Regions, Segments & Forecast, 2019 – 2026’, available with Market Study Report, global caprolactam market is likely to be valued at USD 28.2 billion by the year 2026.
 

Rapid expansion of wire & cabling, specialty film packaging, engineering plastics, electrical & electronics, textiles, and automobile sector is one of the major factors driving the growth of global caprolactam market.
 

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For those unaware, Caprolactam is widely adopted for producing nylon 6 engineering resins as well as nylon 6 fibers. Thus, increasing popularity of sportswear, protective & fashion clothing coupled with growing demand for plastics from electrical & electronics, automotive, and construction sector is further aiding global caprolactam market expansion.
 

Improving cognizance regarding the benefits of caprolactam such as low moisture retaining capacity, abrasion resistance, elasticity, and strength are also stimulating the overall industry outlook. Proliferating textile and automotive industries, especially in Asia-Pacific, is also promoting the business outlook.
 

According to the report, global caprolactam market share from automotive sector is predicted to expand significantly during the forecast period. the product is widely adopted for engine covers, gears & bearings, and tire cord manufacturing owing to its attractive properties. Additionally, growing population and rising per capita income are favoring the overall market scenario.
 

Considering the geographical landscape, Asia-Pacific caprolactam market is slated to record a substantial growth rate during the forecast period. Improving caprolactam production capabilities in in China coupled with booming plastic & textile as well as automobile industries are positively swaying the business dynamics in the region.
 

Sumitomo Chemical Co. Ltd., Koninklijke DSM N.V., CAPRO Corporation, China Petrochemical Development Corp., Toray Industries Inc., Lanxess AG, BASF SE, Honeywell International Inc., Alpek S.A.B. de C.V., and JSC KuibyshevAzot are the prominent companies operating in global caprolactam market.