[FURL=https://www.industryarc.com/Report/17701/caprolactam-market.html]Caprolactam Market[/FURL] size is forecast to reach $18.1 billion by 2025, after growing at a CAGR of 5.1% during 2020-2025, owing to the wide usage of caprolactam as an intermediate in the production of nylon 6 fibers and resins. Caprolactam with a distinctive odor is a white 'hygroscopic' crystalline solid. Most caprolactam is used to produce 6 fibers of nylon, which is the starting material for fibers that have many uses in textile and industrial manufacturing. Owing to its properties like impact, high temperature, and abrasion resistance, an excellent balance of strength and resistance to bases, it is extensively replacing metal-based applications.Key Takeaways
Asia Pacific dominates the caprolactam market, owing to the increasing demand and production of lightweight vehicles that require nylon 6 resins. According to OICA, in 2018 the production of light commercial vehicles has increased by 10.2 % in the APAC region.
Nylon 6 offers chemical resistance, resistance to damage from oils and resistance to abrasion. In a wide range of applications across the textile, automotive, and electrical and electronics industries, the benefits have increased the utilization of nylon 6.
Nylon has high-temperature resistance and can be dyed for aesthetic appeal with the desired colour. Nylon is also used in the manufacture of sports equipment, ropes, and fishing nets, in addition to apparel. With the growing commercial significance of nylon, the global market for caprolactam is set to grow significantly over the forecast period.
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Caprolactam Market Segment Analysis - By Geography
Asia Pacific region held the largest share in the caprolactam market in 2019 up to XX%, owing to the increasing demand for nylon 6 from the automotive and textile sectors in the region. The APAC region is witnessing increased demand for luxury cars due to the increase in the purchasing power of consumers. According to India Brand Equity Foundation (IBEF)
Caprolactam Market Drivers
Stringent Emission and Fuel Economy Regulations
Increase In Automotive Production
Caprolactam Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the caprolactam market. Major players in the caprolactam market are AdvanSix Inc., Alpek S.A.B. de C.V., The Aquafil Group, BASF SE, Capro Co., China Petrochemical Development Corporation, Domo Chemicals, Grupa Azoty, Gujarat State Fertilizers & Chemicals Limited, Highsun Group, KuibyshevAzot PJSC, Lanxess AG, Luxi Chemical Group Co. Ltd., China Petroleum & Chemical Corporation, Spolana, Sumitomo Chemical Co., Ltd., Toray Industries, Inc., Ube Industries, Ltd., and Zhejiang Hengyi Group Co., Ltd.
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