The global caprolactam market was valued at USD 14 billion in 2019 and is estimated to reach USD 17 billion by 2026, expanding at a CAGR of 4% during the forecast period, 2020 – 2026. The growth of the market is attributed to increasing demand for plastic in automotive, electronics, and construction sector.
Caprolactam is an organic compound, it is a lactam of caproic acid and is a colorless solid. The market is projected to grow at a significant rate on account of rising demand for industrial yarn and expanding automobile industry. The market is mainly driven by increasing demand for nylon 6 production. The compound hydrolyses takes the form of aminocaproic acid in water, which is used for medical purpose. Caprolactam is gradually substituting metals in automotive applications. More than 60% of caprolactam is used in the manufacturing of nylon fibers, for industrial yarns and carpet and also used in films and engineering resins across the world. The main factors improving the caprolactam market is the increasing need for lightweight vehicles and the growth of coatings applications and films. Continuous research and development is resulting in technological innovations for cost effective production is the key factors responsible for the growth. Increasing disposable incomes, growing penetration of players due to launch new products, is projected to promote textile industry growth.
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Market Trends, Drivers, Restraints, and Opportunities:
Competitive Landscape
Major players in the market include Spolana, AdvanSix Inc., The Aquafil Group, BASF SE, Domo Chemicals, KuibyshevAzot PJSC, Capro Co., Grupa Azoty, Luxi Chemical Group Co., Ltd., Sumitomo Chemical Co., and Toray Industries, Inc. The key market players are engage in strategy such as new product launch.
Segments Covered in the Report
The global caprolactam market has been segmented on the basis of
By Regions:
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The following is the TOC of the report:
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Caprolactam Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Caprolactam Market – Supply Chain
4.5. Global Caprolactam Market Forecast
4.5.1. Caprolactam Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Caprolactam Market Size (000? Units) and Y-o-Y Growth
4.5.3. Caprolactam Market Absolute $ Opportunity
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Caprolactam Market Size and Volume Forecast by Type
5.3.1. Engineering Plastics
5.3.2. Fibers
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
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