Global caprolactam market

Q: Which segment based on product type, accounted for the highest demand in the Market?

Nylon 6 fiber accounted for highest demand in the market. Read more

Global Caprolactam Market, By Raw Material (Cyclohexane/Benzene, Phenol and Toluene, Ammonia, Others), By Product Type (Nylon 6 Fibers (Textile, Carpet, Industrial Yarn, Others), Nylon 6 resins and films (Automotive Industry, Specialty Film Packaging for Food, Wire and Cables, Others)), By Region (North America, Latin America, Europe, Asia Pacific)

Request Free Sample

Mar 2023
CMI290
190 Pages
Excel & Pdf
Polymers and Resins

Summary

The global caprolactam market size is estimated at US$ 16,885.6 Million in 2022 and is expected to expand at a CAGR of 6.57% and expected to reach at US$ 28,091.1 Million by 2023-2030.

Nylon 6 fiber and nylon 6 resin have wide applications in automotive and textile industry due to their high tensile strength and superior elasticity. Automakers are focusing on light weighting of vehicles in order to improve fuel efficiency and performance. Thus, metallic parts of automobiles are being rapidly replaced by polyamide 6 and nylon 6 due to high temperature and chemical resistance. For instance, door handles, air bag containers, radiator grilles, relay boxes, air intake manifold and engine cover, among others are manufactured from polyamide 6 or nylon 6. Also, nylon 6 have wide applications in electrical and electronic equipment industry, due to high electrical insulation and low weight as compared to metal tubes, which includes circuit breakers, voltage switchgears, contactors, tubes for wiring & cables protection, connectors, among others. Also, increasing number of women in the workforce, growing westernization, increasing disposable income and growing demand for convenience food across the globe, is expected to fuel demand for Caprolactam market. Nylon 6 is a key constituent in specialty films. The market is expected to gain traction in Asia Pacific due to burgeoning growth of various end-use industries in China and India. As per Coherent Market Insights, the nylon 6 fibers segment accounted for 52.94% revenue share in 2022.

Caprolactam Market Report Coverage

Report Coverage	Details
Base Year:	2022	Market Size in 2022:	US$ 16,885.6 Mn
Historical Data for:	2017-2021	Estimated Year:	2023
Forecast Period 2023 to 2030 CAGR:	6.57%	Forecast Period:	2023-2030
Geographies covered:	By Region: North America, Latin America, Europe, Asia Pacific
Segments covered:	By Raw Material: Cyclohexane/Benzene, Phenol and Toluene, Ammonia, Others By Product Type: Nylon 6 Fibers (Textile, Carpet, Industrial Yarn, Others), Nylon 6 resins and films (Automotive Industry, Specialty Film Packaging for Food, Wire and Cables, Others)
Companies covered:	BASF SE, China Petroleum & Chemical Corporation, China Petrochemical Development Corporation, Honeywell International Inc., KuibyshevAzot OJSC, Royal DSM N.V., UBE Industries, SINOPEC among others.
Growth Drivers:	Wide applications of nylon 6 fiber and nylon resin.
Restraints & Challenges:	The toxicity of caprolactum and the presence of substitute products for nylon 6

Market Restraints

Plummeting costs of caprolactam due to increasing production capacity and oversupply is expected to be the key challenge for caprolactam market. As a result, from 2020 continuous caprolactam production capacity reduction are taking place to provide stability in supply and price. On September 12, 2020, BASF SE announced plans to reduce caprolactam production at its Ludwigshafen plant by 100,000 MT over the following 18 months. Moreover, DSM Chemicals ceased operations at its caprolactam plant in the U.S. by the end of 2020. Furthermore, according to Coherent Market Insights analysis, due to continuous oversupply of caprolactam by China, some existing caprolactam production plants are expected to shut down during the forecast period.

Figure 1. Caprolactam Market-Regional Share, (Revenue in 2022)

Figure 2. Caprolactam Market-Product type, (Volume in 2022)

Global Caprolactam Market- Impact of Coronavirus (Covid-19) Pandemic

COVID-19 outbreak negatively impacted the caprolactum market. Due to lockdown imposed across the globe, supply chain constraints obstructed the expansion of industry. However, the market recovered last year in 2021 and expected to grow in the upcoming years.

Recent Development:

In November 2022, DOMO Chemicals, a leader in polymide- based engineered material solution and services, is presented its entire range of high performing TECHNYL solutions to a global audience.

In August 2019, Hengyi Petrochemical, A manufacturer of petrochemicals announced completion of 400 KT/ year of caprolactum project.

In September 2022, China Petrochemical Development Corporation achieves recognition for the 2^nd year in a row with inclusion in S&P global sustainability.

In January 2023, UBE Corporation has decided to expand the polymide hollow fiber production facilities for gas separation membranes at its UBE chemical factory.

Multinational players need to maintain the supply and price, as the market for caprolactam is fragmented in Asia Pacific.

Major players in the global caprolactam market include BASF SE, China Petroleum & Chemical Corporation, China Petrochemical Development Corporation, Honeywell International Inc., KuibyshevAzot OJSC, Royal DSM N.V., UBE Industries, SINOPEC among others.

Table of Content

Table of Contents

“*” marked represents similar segmentation in other categories in the respective section.

*Browse 90 market data tables and 40 figures on "Caprolactam Market - Global forecast to 2030”.

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What are the growth estimates for Market till 2030?

The market size is estimated at US$ 16,885.6 Million in 2022 and is expected to expand at a CAGR of 6.57% and expected to reach at US$ 28,091.1 Million by 2023-2030.

Which are the prominent Market players across the globe?

BASF SE, China Petroleum & Chemical Corporation, China Petrochemical Development Corporation, Honeywell International Inc., KuibyshevAzot OJSC, Royal DSM N.V., UBE Industries, SINOPEC among others.

Which segment based on product type, accounted for the highest demand in the Market?

Nylon 6 fiber accounted for highest demand in the market.

What are the key factors driving growth of the Market?

What is the Compound Annual Growth Rate (CAGR) of the Market for next 2023-2030

The Compound Annual Growth Rate (CAGR) of the Market for next 2023-2030 is 6.57%.

Which region is dominating the Market growth?

Asia Pacific is expected to be the leading region of market