Market Definition
Caprolactam refers to a colorless solid compound formed by caproic acid used while manufacturing synthetic fibers, mainly Nylon 6 & Nylon 6.6. It plays a crucial role in the textile industry and undergoes captive consumption in the polyamide production process. Rapidly growing requirements for Nylon 6 fibers & resins worldwide are directly impacting the demand for caprolactam and, consequently, creating new directions for manufacturers to expand their production & distribution capacities and yield significant profits.
Market Insights
The Global Caprolactam Market is projected to grow at a CAGR of 4% during the forecast period, i.e., 2023-28. Most of the market expansion would be propelled by the flourishing textile industry, especially in Asia-Pacific, coupled with the mounting demand for plastics in the construction, automotive, & electrical & electronics sectors. Moreover, various ongoing technological innovations toward improving the caprolactam manufacturing process in order to reduce ammonium sulfate production are also projected to boost the market in the forecast years.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 4% |
| Regions Covered | North America: United States, Canada, Mexico, Cuba, Puerto Rico |
| South America: Brazil, Argentina, Colombia, Chile, Peru, Ecuador, Uruguay, Paraguay | |
| Europe: Germany, France, Italy, Spain, United Kingdom, Belgium, Netherlands, Poland, Russia, Romania, | |
| Asia-Pacific: China, India, Japan, South Korea, Thailand, Indonesia, Philippines, Malaysia, Australia, Vietnam | |
| Middle East & Africa: Saudi Arabia, UAE, Kuwait, Qatar, Oman, Turkey, South Africa, Egypt, Morocco, Algeria | |
| Key Companies Profiled | Royal DSM NV, BASF SE, Sumitomo Chemicals Limited, Honeywell Chemical Intermediates, China Petroleum and Chemical Corporation, Gujarat State Fertilizers Corporation, Capro Corporation, IRPC Public Company Limited, China National Petroleum Corporation, Sinopec Refining and Chemical Company, Fibrant, Lanxess AG, UBsE Industries Limited, Juhua Group Corporation, Advansix Inc., PJSC Kuibyshevazot, Toray Industries Inc., Fujian Jinjiang Petrochemical, Shandong Haili Chemical Industry Co. Ltd, KurskKhimvolokno Limited |
| Unit Denominations | USD Million/Billion |
The demand for caprolactam largely relies on that of Nylon 6 fibers & resins, which are used extensively in various applications like textile yarn, industrial yarn, engineering plastics, carpet fibers, and staple fibers. The ever-growing requirements for engineering plastics & films in the automotive sector for manufacturing engine covers, gears, & bearings owing to their superior resistance to oils & greases would also create lucrative prospects for the caprolactam industry through 2028.
Market Segmentation
Based on End-Product:
Of both, Nylon 6 Fibres dominate the Global Caprolactam Market, owing to their burgeoning demand for textile & carpet manufacturing worldwide. One of the prime applications of caprolactam is the production of Nylon 6 fibers, which are lightweight & wrinkle proof, exhibit high strength, and superior resistance to abrasion, as well as chemicals like acids & alkalis. These properties of Nylon 6 make them widely acceptable for applications in sportswear, swimwear, hosiery, & fashion wear and provide an excellent stretch-fit when combined with spandex fibers. Hence, the ever-increasing demand for Nylon 6 fibers is significantly contributing to the expansion of the caprolactam industry globally.
