According to the current analysis of Reports and Data, the global Caprolactam Market was valued at USD 12.6 billion in 2018 and is expected to reach USD 19.27 billion by the year 2026, at a CAGR of 5.4%. Caprolactam is a cyclic amide or lactam of caproic acid. Nylon 6, which is an extensively used synthetic polymer, is the raw material used in Caprolactam. It is a colorless organic compound that is manufactured using three different sources, such as cyclohexane, phenol, and toluene. Cyclohexane is the most prominent source used for fabricating caprolactam. Its mechanical properties such as being lightweight and high strength make it the best choice of material to produce nylon fiber and resins. Another added benefit in production of caprolactam is that its manufacturing plant requires less technical complexity along with low initial investment in its infrastructure which has encouraged new participants to enter the market.
Rapid urbanization and an increase in consumer’s disposable income is also contributing towards the market growth. The increased per capita income has resulted in the growth of the middle-class population having high purchasing power. As a result of this, the clothing industry has witnessed significant growth, which in turn, has boosted the demand for caprolactam in fabric production. Its usage in electrical and electronic equipment industry has also expanded caprolactam’s market significantly. Caprolactam also has a usage in the automotive industry, and with automotive sector on a global rise, it has contributed to proportional growth of caprolactam market as well. All these factors have contributed towards a definite dynamic growth curve of this market, and it is expected to keep growing in the coming years.
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Key players of this industry are Advansix Inc., Alpek S.A.B. de C.V., BASF SE, Capro Corp, DOMO Caproleuna GmbH, Grupa Azoty, Gujarat State Fertilizers & Chemicals Limited, Highsun Group, KuibyshevAzot PJSC, Fertilizers & Chemicals Travancore Ltd, Juhua Group Corp., Lanxess AG, Sumitomo Chemical Co. Ltd, Toray Industries, Inc., and UBE Industry Group are investing a lot in research and development to bring in innovations to carve a niche market for themselves and get an advantage over their competitors.
The global caprolactam market is partially consolidated, with the top five players accounting for a significant share of the market. The key players of the caprolactam market are planning on the acquisition of small players in their long-term business strategies.
Further key findings from the report suggest
- The caprolactam market is growing at a CAGR of 5.6% in Asia-Pacific, followed by Europe & North America, with 5.3% and 5.1% CAGR, respectively.
- Currently, Asia-Pacific dominates the market for caprolactam, followed by Europe and then North-America. Moreover, because of the growing industries in countries like India and China, Asia-Pacific is expected to keep registering the highest CAGR and dominate the market until 2026.
- Technological innovations are being aimed at improving the manufacturing process of caprolactam to reduce the production of ammonium sulfate because of its is hazardous effects on the environment. It is expected to have a positive impact on product demand. An increase in demand for engineering plastics and films in manufacturing of various automotive parts that include engine covers, gears, and bearings owing to their resistance to oils and greases is also expected to help the growth of this market.
- The caprolactam market is witnessing a positive effect on product demand. An increase in demand for engineering plastics and films in the manufacturing of various automotive parts that include engine covers, gears, and bearings owing to their resistance to oils and greases is also expected to help the growth of this market.
- Asia-Pacific regional segment of the caprolactam market is expected to hold the highest market share during 2019-2026. Moreover, Asia-Pacific is predicted to maintain the highest CAGR in the forecast period because of the growth of various industries in the region.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/caprolactam-market
For better understanding of the study, Reports and Data have segmented the caprolactam market based on application, end-use, and region:
Application (Revenue in USD Million; Volume in Tons, 2016–2026):
- Nylon 6 Fibers
- Nylon 6 Resins
End-Use (Revenue in USD Million; Volume in Tons, 2016–2026):
- Textile yarn
- Industrial yarn
- Engineering Plastics
- Carpet fibers & staple fibers
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Regional Outlook (Revenue in USD Million; Volume in Tons, 2016–2026)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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