What Fueled Caprolactam Market?
The caprolactam market has seen considerable growth due to a variety of factors.
• The caprolactam market has experienced robust expansion in the previous years. The market is projected to escalate from $16.5 billion in 2024 to $17.5 billion in 2025, at a compound annual growth rate (CAGR) of 6.1%.
Factors influencing this growth in the past period include the burgeoning textile industry, production of consumer goods, advancements in nylon usage, synthetic fibers, demand in the automotive industry, and the growth of manufacturing facilities.
What Is the Forecasted Market Size and Growth Rate for The Caprolactam Market?
The caprolactam market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for caprolactam is projected to undergo significant growth in the forthcoming years, escalating to $23.51 billion in 2029 with a compound annual growth rate (CAGR) of 7.7%.
Factors that can contribute to the growth during the forecast period include a rise in demand for nylon 6, market expansion in emerging countries, a surge in demand for engineering plastics, e-commerce packaging, and rigid emission standards. Key trends anticipated during this period encompass environmentally friendly production strategies, bio-based caprolactam, e-commerce packaging, innovations in manufacturing technologies, and trends in automotive weight reduction.
What Are The Leading Drivers Of Growth In The Caprolactam Market?
The caprolactam market is predicted to be driven by the expansion of the automotive industry. The automotive sector involves businesses that design, manufacture, and sell motor vehicles and related parts. The industry's shift towards more fuel-efficient and environmentally-conscious vehicles has precipitated an increased use of nylon 6 to reduce vehicle weight and fuel usage. For instance, the India Brand Equity Foundation (IBEF), a government agency dedicated to promoting exports in India, predicts that vehicle production will hit 22.93 million vehicles by 2022. Hence, the continuation of the automotive industry's growth is fueling the advancement of the caprolactam market.
What Key Areas Define The Segmentation Of The Global Caprolactam Market?
The caprolactam market covered in this report is segmented –
1) By Raw Material: Phenol, Cyclohexane, Hydroxylamine Sulfate, Other Raw Materials
2) By Application: Nylon 6 Filaments, Textile Yarn, Nylon 6 Fibers, Engineering Plastics, Printer Inks, Other Applications
3) By End-User: Textile Industry, Automobile Industry, Electrical And Electronics Industry, Other End-Users
Subsegments:
1) By Phenol: Phenol Derivatives, Phenol-Based Intermediates
2) By Cyclohexane: Purified Cyclohexane, Cyclohexane Mixtures
3) By Hydroxylamine Sulfate: Hydroxylamine Hydrochloride, Hydroxylamine Sulfonic Acid
4) By Other Raw Materials: Aniline, Acetic Acid, Formaldehyde
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How Are Emerging Trends Reshaping The Dynamics Of The Caprolactam Market?
In an effort to establish a firmer hold in the caprolactam market, leading companies are emphasizing the development of innovative products. This was demonstrated in March 2022 when Germany's DOMO Chemicals, a reputed producer of PA6 and provider of engineered material solutions, announced successful delivery of 5 million metric tons of caprolactam at its Leuna location. The site's potential has been boosted to 176,000 metric tons every year, aided by efficiency enhancements, leading to a reduction in medium-pressure steam energy consumption by 30% and low-pressure steam by 40%. DOMO Chemicals reaffirms its commitment to sustainability, with their DOMO Beyond initiatives aiming for a 15% reduction in carbon intensity and a 7% cut in waste by the year 2030.
Who Are the Key Players in the Caprolactam Market?
Major companies operating in the caprolactam market include:
• China Petrochemical Corporation
• BASF SE
• Mitsubishi Chemical Corporation
• Honeywell International Inc.
• Rhodia S.A.
• Asahi Kasei Corporation
• Hengyi Industries Co. Ltd.
• Toray Industries Inc.
• LANXESS Corporation
• Alpek S.A.B. de C.V.
• Grupa Azoty S.A.
• Luxi Chemical Group
• Petroquímica Unigel S.A. de C.V.
• Highsun Holding Group
• Ube Industries Ltd.
• Shenma Group Co. Ltd.
• AdvanSix Inc.
• Shandong Xinlong Group Co. Ltd.
• Nanning Chemical Industry Group Co. Ltd.
• Shandong Linyi Jinyu Chemical Co. Ltd.
• Capro Corp.
• Spolana s.r.o.
• DOMO Caproleuna
• Jiangsu Yisheng Chemical Co. Ltd.
What Is The Most Dominant Region In The Caprolactam Market?
Asia-Pacific was the largest region in the caprolactam market in 2024. North America was the second-largest region in the caprolactam market share. The regions covered in the caprolactam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
