Global Caprolactam Market to Grow at 4.88% During 2023-2028, Impelled by Significant Growth in Textile Industry

July 09, 2020 | Chemical & Materials

According to the latest report by IMARC Group, titled "Caprolactam Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global caprolactam market reached a value of US$ 16.0 Billion in 2022. Caprolactam is an organic compound with the chemical formula (C₆H₁₁NO). It is most commonly obtained by the synthesis of cyclohexane, phenol and toluene. Characterized by a clear to milky-white color, it is a crystalline lactam or a cyclic amide of caproic acid. It is soluble in water and other liquids, including oxygenated and chlorinated solvents. It is a synthetic polymer that is widely used for manufacturing nylon 6. It exhibits lightweight properties, improved elasticity and excellent chemical resistance. As a result, it is used to form high-strength nylon fibers and resins that are further utilized for the production of textiles, carpets, films, brush bristles, industrial yarns, synthetic leather, plastics, plasticizers and lysine.

Global Caprolactam Market Trends:

The global market is primarily driven by the growing utilization of nylon 6 in the textile industry. These fibers are characterized by excellent tensile elastic strength and fatigue, as well as heat resistance. Due to this, they are combined with elastane to attribute stretch-fit properties to the fibers that are used in the manufacturing of numerous clothing items, including casual wear, swimwear, sportswear and hosiery. These polymers are also employed in the automotive sector for the production of doors, windows, gear, airbags, tire cords and other components. Moreover, there has been a shifting preference toward lightweight vehicle components as their usage is associated with improved fuel efficiency. This, along with the significant growth in the automotive industry, is providing an impetus to the market growth. Furthermore, product innovations and extensive research and development (R&D) activities undertaken by the players have led to the introduction of bio-based caprolactam variants, which are gaining widespread prominence among end users. The development of caprolactam with minimal traces of ammonium sulfate, a hazardous by-product, is also creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 4.88% during 2023-2028.

Market Summary:

On the basis of the source, the market has been divided into cyclohexane, phenol, toluene and others.
Based on the end-product, the market has been classified into nylon 6 fibers, nylon 6 resins and others.
On the basis of the application, the market has been categorized into industrial yarns, engineering resins and films, textiles and carpets, and others.
On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players include AdvanSix Inc., Alpek S.A.B. de C.V., BASF SE, Capro Corporation, China Petrochemical Development Corporation, China Petrochemical Corporation (Sinopec), DOMO Chemicals GmbH, Gujarat State Fertilizers & Chemicals Limited, Koninklijke DSM N.V., LANXESS AG, Sumitomo Chemical Co., Ltd., Toray Industries Inc., and Ube Industries, Ltd.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Source, End-Product, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	AdvanSix Inc., Alpek S.A.B. de C.V., BASF SE, Capro Corporation, China Petrochemical Development Corporation, China Petrochemical Corporation (Sinopec), DOMO Chemicals GmbH, Gujarat State Fertilizers & Chemicals Limited, Koninklijke DSM N.V., LANXESS AG, Sumitomo Chemical Co., Ltd., Toray Industries Inc. and Ube Industries, Ltd.
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Global Caprolactam Market to Grow at 4.88% During 2023-2028, Impelled by Significant Growth in Textile Industry

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