NEW YORK, November 23, 2016 /PRNewswire/ --
Growing textile industry and production of engineering plastic productsto drive caprolactam market in India
According to a recently released TechSci Research report, "India CaprolactamMarketStudy, 2011 - 2025", the market of caprolactamin India is anticipated to grow at a CAGR of over 6% during 2016 - 2025. Growing demand for caprolactam as a raw material to produce Nylon 6 fibres and Nylon 6 resins coupled with continuing growth in end user industries are expected to positively influence the country's caprolactam market during 2016 - 2025.
In 2014, India accounted for a volume share of 2.24% in global nylon production.In India, the demand for nylon stood at 67.70 thousand metric tons in 2015, and it is further expected to grow at a CAGR of 4.91% during forecast period, which, in turn, is expected to aid the market of caprolactam in the country during 2016 - 2025.On the basis of application, India caprolactam market has been segmented into three broad categories, namely, Nylon 6 Fiber, Nylon 6 Resin &Others. Among these categories, Nylon 6 Fiber dominated the Indian market of caprolactam in 2015, and the same trend is expected to continue over the next five years as well.
"Majority of the caprolactam produced in the country are utilised during the production of nylon 6 fibres and nylon 6 resins, to cater textile and engineering plastic product manufacturers, respectively. In India, man-made fibre production stood at 1.34 million metric tons in 2014. Growing textile industry coupled with favourable government initiatives are expected to steer the demand for caprolactam in the country during forecast period,"said Mr. Karan Chechi, Research Director, with TechSci Research, a research based global management consulting firm.
"India Caprolactam Market Study, 2011 - 2025"has evaluated the future growth potential of India caprolactammarket and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities in India caprolactam market.
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