The global caprolactam market was valued at $16.43 billion in 2022 and it is expected to reach $32.1 billion at a CAGR of 6.9% between 2022 and 2032. Over the projection years, the industry is expected to be significantly impacted by the growing demand for plastics in the construction, automotive, electrical, and electronics industries. The rising demand for nylon as a synthetic fiber in end-use industries like automotive, transportation, textiles, and home furnishings is a significant factor driving the worldwide caprolactam market.
The Asia-Pacific region's recession in the automotive industry has severely impacted the demand for caprolactam as an engineering plastic. Even yet, the automotive industry's market mood is projected to improve during the next five years. Caprolactam consumption in the textile industry has kept its market value soaring due to its constant increase over the past few years, despite the decline in demand from the automotive industry.
Source: SAI Research
This fabric's lightweight, high tensile strength, elasticity, and sheen are boosting its use in the production of supple, long-lasting clothing. Fabrics, industrial yarns, floor coverings, and films can all be created using Nylon 6 fibers. Nylon 6 is also used to create a variety of threads, ropes, filaments, fibers, textile hosiery, carpets, and knitted clothing. The market is experiencing revenue growth as a result of increasing caprolactam usage in the paints and inks sector in response to rising demand for printed textiles manufactured from hydrophobic fibers.
Crude oil is the starting point for the production of nylon-6, like other modern polymers. In this case, crude oil is used to create nylon by processing the chemical caprolactam. Five million tons of nylon-6 is manufactured annually, generating 60 million tons of greenhouse gas emissions worldwide. Crude oil is the starting point for the production of nylon-6, like other modern polymers. In this case, crude oil is used to create nylon by processing the chemical caprolactam.
The demand for the product is projected to increase as a result of technological advancements made to improve the production of caprolactam to reduce the production of the environmentally dangerous ammonium sulfate. Due to their resistance to oils and greases, engineering plastics and films are likely to see an increase in demand for the fabrication of different automobile parts, including engine covers, gears, and bearings. Ammonium sulfate manufacturing should be decreased since it is harmful to the environment, according to many firms. The creation of polymers using caprolactam as a monomer and as an intermediary in the synthesis of chemical compounds or chemical intermediates is a common practice. Moreover, caprolactam is produced by several renowned international companies, including Sumito Corporation Limited, Toray Industries, Honeywell, and Ube Industries.
Based on application type, the nylon-6 fibers segment accounted for the largest share of this market and is also anticipated to drive market growth during the forecast period. Several products, including toothbrushes, raincoats, sportswear, bed sheets, curtains, ropes, racket strings, threads, and sleeping bags, use nylon 6 fibers. Over the anticipated years, this will probably fuel the growth of the product. Its use in toothbrushes, raincoats, athletic apparel, bed linens, curtains, ropes, racket strings, threads, and sleeping bags are the contributing components. However, the nylon-6 resin segment is also anticipated to fuel the market in the future. Nylon resins are used in the manufacturing of wheel covers, louvers, and other exterior body parts for automobiles.
In terms of end-user type, the textile yarn segment accounted for the highest share of this market and is also anticipated to drive market growth during the forecast period. Textile yarn is widely utilized in a variety of industries, including clothing and home furnishings. Nylon 6 is a thin fabric manufactured of caprolactam that has excellent tensile strength and elasticity. As a result, it is widely used to make sportswear. Additionally, Nylon 6 can absorb acid dyes, making it possible to create vibrantly colored fabrics for use in carpets, bed sheets, and curtains.
Geographically, the Asia-Pacific region has dominated the market and is also projected to hold its dominant position over the forecast period. The creation of numerous automobile and appliance manufacturing facilities as a result of rapid industrialization, notably in China and India, is projected to have a beneficial effect on industry growth over the next years. The major producers of textile textiles worldwide include China, India, Uzbekistan, Brazil, Japan, South Korea, Thailand, Vietnam, Iran, etc. On the other side, the North American region is also expected to gain significant growth due to rising demand for various types of caprolactam products. Throughout the forecast period, it is anticipated that factors such as rising demand for plastic components that have been molded, the availability of raw materials, and the expansion of numerous end-use industries, including packaging, would accelerate market growth.
According to the study, key players such as AdvanSix (U.S), Aquafin Holding S.P.A (Italy), BASF SE (Germany), Capro Labs Exports (India), China Petrochemical Development (Taiwan), Domo Chemicals (Germany), Fibrant (Netherlands), Group Industrial Alfa S.A.B de C.V (Mexico), Highsun Group (China), Luxi Chemical Group (China), Sumitomo Chemical (Japan), SASAC (China), Toray Industries (Japan), UBE Corporations (Japan), among others are leading the global caprolactam market.
|Market Size in 2021||US$ 16.43 Billion|
|Market Volume Projection by 2032||US$ 32.1 Billion|
|Forecast Period 2023 to 2032 CAGR||6.9%|
|Historical Data||2019 and 2022|
|Forecast Period||2024 to 2032|
By Application Type: Nylon 6, Nylon 6 Resins & Others
By End-User Type: Textile Yarn, Industrial Yarn, Engineering Plastics, Carpet Fibers & Staple Fibers & Others
North America, Europe, Asia-Pacific, LAMEA
|Companies covered||AdvanSix (U.S), Aquafin Holding S.P.A (Italy), BASF SE (Germany), Capro Labs Exports (India), China Petrochemical Development (Taiwan), Domo Chemicals (Germany), Fibrant (Netherlands), Group Industrial Alfa S.A.B de C.V (Mexico), Highsun Group (China), Luxi Chemical Group (China), Sumitomo Chemical (Japan), SASAC (China), Toray Industries (Japan), UBE Corporations (Japan), among others|
The Global Caprolactam Market – by Application Type:
The Global Caprolactam Market – by End-User Type:
The Global Caprolactam Market – by Regions: