Caprolactam Market Introduction
Caprolactam is an organic compound which is an intermediate primarily used in the production of resins and nylon 6 fibers. Further, it occurs as hygroscopic flakes, white, or crystals with a distinctive odor. Caprolactam is soluble in chlorinated hydrocarbons, cyclohexane, water, and is usually used, stored and transported in the liquefied form at about 80°C. The major share of the Caprolactam produced is used in the manufacturing of nylon fibers which finds wide applications in various industries such as automotive, electronics, consumers goods, packaging, and others.
Increasing applications of polyamide 6 specialty films in the flexible packaging industry, expected rise in sales of vehicle volumes across the globe, demographics shift and urbanization, growing use of engineering plastics and the electrical market is projected to increase the demand for caprolactam. This, in turn, is anticipated to expand the global caprolactam market size at a significant rate. Moreover, increasing consumption of bio-based polyamide is growing the demand for bio-based caprolactam which is anticipated to have a positive impact on the global caprolactam market growth. This, in turn, is projected to create opportunities for major companies operating in the caprolactam market. However, strict regulations, especially in China, volatile raw material prices, and moisture absorption resulting in degradation of properties, are some of the factors that are anticipated to hamper the market growth to a certain extent during the forecast period.
The global caprolactam market is segmented based on application, and region.
By application, the caprolactam market is analyzed across nylon 6 fibers, nylon 6 engineering plastics, and films segments. The nylon 6 fibers segment is sub-segmented into textile filament, industrial filament, carpet filament, and stable fiber. Further, the films segment is bifurcated into food packaging, agriculture packaging, pharmaceutical packaging, and other packaging sub-segments. In addition, the nylon 6 engineering plastics segment is analyzed across automotive, electric and electronics, industrial machineries, wire and cable, consumer goods, and other sub-segments. Based on region, the caprolactam market is analyzed across six major geographies such as Western Europe, North America, Eastern Europe, Latin America, Middle East and Africa, and Asia Pacific. Among regions, the market in Asia Pacific region is projected to witness highest CAGR during the forecast period owing to availability of high-quality caprolactam, growing investment in renewable chemicals in major Asian countries, and expansion in the automotive industry.
Caprolactam Market Competitive Landscape
Major companies in the caprolactam market are concentrating on integrating their technological capabilities with the leading players in order to produce advanced and sustainable plastics and fiber by using renewable and bio-based technologies. Further, prominent players in the market are focused on expanding their production capacity and geographical presence through strategic acquisitions and mergers. Key companies analyzed in the caprolactam industry are Advansix Inc., Alpek S.A.B. De C.V., BASF SE, Capro Co., China Petrochemical Development Corporation, China Petroleum and Chemical Corporation (Sinopec), Domo Chemicals, Grupa Azoty, Gujarat State Fertilizers & Chemicals Limited, Highsun Group, Lanxess Ag, Luxi Chemical Group Co., Ltd., Pjsc Kuibyshevazot, Spolana, Sumitomo Chemical Co., Ltd., the Aquafil Group, Toray Industries, Inc., UBE Industries, Ltd., and Zhejiang Hengyi Group Co., Ltd. among others.
Major Regions/Countries include:
- Western Europe
- United Kingdom
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific (APAC)
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- North Africa
- South Africa
- Rest of MEA
This research report on caprolactam market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.