Global Caprolactam Market to 2032: Growing Automotive Industry Fuels the Market

DUBLIN, March 23, 2023 /PRNewswire/ -- The "Caprolactam Global Market Report 2023" report has been added to  ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global caprolactam market grew from $14.72 billion in 2022 to $15.71 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The caprolactam market is expected to grow to $19.3 billion in 2027 at a CAGR of 5.3%.

Major players in the caprolactam market are AdvanSix Inc., Alpek S.A.B. de C.V., The Aquafil Group, Toray Industries Inc., Capro Corp., China Petrochemical Development Corporation, Domo Chemicals GmbH, Grupa Azoty Zaklady Chemiczne, Gujarat State Fertilizers & Chemicals Limited, Guangdong Highsun Grou, Zhejiang Hengyi Group Co. Ltd., KuibyshevAzot PJSC, Lanxess AG, Luxi Chemical Group Co. Ltd., China Petroleum & Chemical Corporation, Spolana s.r.o, Sumitomo Chemical Co. Ltd., Shandong Haili Chemical Industry Co. Ltd., Ube Industries Ltd., Honeywell International Inc., and Royal DSM N.V.

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The caprolactam market consists of sales of caprolactam synthesized from raw materials such as benzene and ammonia. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Caprolactam is a mildly unpleasant-smelling, clear to milky white organic compound. Caprolactam is a crystalline cyclic amide derivative of caproic acid with a melting point of 70 C that possesses various properties such as tensile strength, superior elasticity, chemical and oil resistance, and low moisture absorbency. Caprolactam is used for nylon 6 production.

Asia-Pacific was the largest region in the caprolactam market in 2022. North America was the second-largest region in the caprolactam market. The regions covered in the caprolactam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main raw materials used in caprolactam are phenol, cyclohexane, hydroxylamine sulfate, and others. The phenol is used as BPA, a chemical that is used in container coatings, adhesives, electronic insulators, glazing, sheeting, and optical and automotive polycarbonates.

Phenol can be tasted and smelled at concentrations below those that are harmful. The different applications include nylon 6 filaments, textile yarn, nylon 6 fibers, engineering plastics, printer inks, and others. The various end-users include the textile industry, automobile industry, electrical and electronics industry, and others.

The growth of the automotive industry is expected to propel the growth of the caprolactam market going forward. The automotive industry comprises the companies involved in the design, manufacture, and sale of motor vehicles and related components. The shift towards fuel-efficient and environment-friendly automobiles has encouraged the use of nylon 6 in automobiles to reduce weight and fuel consumption by the vehicle.

For instance, according to the India Brand Equity Foundation, commonly known as IBEF, an Indian government export promotion agency, vehicle production in India is expected to reach 22.93 million vehicles in 2022. Therefore, the growth of the automotive industry is driving the growth of the caprolactam market.

Technological advancements have emerged as a key trend gaining popularity in the caprolactam market. Major companies operating in the caprolactam sector are focused on developing new technological solutions to strengthen their position in the market. For instance, in July 2021, Fibrant, a Netherlands-based chemical products and services company, marketed its caprolactam under the tradename EcoLactam, a new generation caprolactam with a reduced carbon footprint. The company will reduce its carbon footprint by over 50 percent by applying proprietary Hydranone technology.

In June 2021, DIC Corporation, a Japan-based chemicals company, acquired BASF's global pigments business, BASF Colors & Effects, for an undisclosed amount. The acquisition brings together the complementary portfolio of products, manufacturing assets, technologies, and supply chain and customer service of both companies to serve global customers and manufacture pigments, cosmetics, coatings, inks, and plastics. BASF SE is a Germany-based chemicals company.

The countries covered in the caprolactam market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Key Topics Covered:

1. Executive Summary

2. Caprolactam Market Characteristics

3. Caprolactam Market Trends And Strategies

4. Caprolactam Market - Macro Economic Scenario
4.1. COVID-19 Impact On Caprolactam Market
4.2. Ukraine-Russia War Impact On Caprolactam Market
4.3. Impact Of High Inflation On Caprolactam Market

5. Caprolactam Market Size And Growth
5.1. Global Caprolactam Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Caprolactam Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Caprolactam Market Segmentation
6.1. Global Caprolactam Market, Segmentation By Raw Material, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

• Phenol
• Cyclohexane
• Hydroxylamine Sulfate
• Other Raw Materials

6.2. Global Caprolactam Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

• Nylon 6 Filaments
• Textile Yarn
• Nylon 6 Fibers
• Engineering Plastics
• Printer Inks
• Other Applications

6.3. Global Caprolactam Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

• Textile Industry
• Automobile Industry
• Electrical And Electronics Industry
• Other End-Users

7. Caprolactam Market Regional And Country Analysis
7.1. Global Caprolactam Market, Split By Region, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
7.2. Global Caprolactam Market, Split By Country, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/1mt874

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