Caprolactam Market Analysis | 2023-2028

Market Insights

The caprolactam market was estimated at USD 13.23 billion in 2022 and is likely to grow at a CAGR of 4.89% during 2023-2028 to reach USD 17.73 billion in 2028.

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Market Dynamics

Introduction

Caprolactam is a cyclic amide of 6-aminohexanoic acid, which is also known as epsilon-aminocaproic acid. It is a white crystalline solid with a slightly bitter taste and is commonly used as a monomer in the production of Nylon 6, a synthetic polymer. Caprolactam can be synthesized through the reaction of cyclohexanone with hydroxylamine to form caprolactam oxime, which is then cyclized by the action of acid catalysts. Caprolactam has numerous industrial applications, including in the production of textiles, automotive parts, carpets, and electrical and electronic components. It is also used as a precursor to other chemicals, such as adipic acid and hexamethylenediamine.

Market Drivers

There are several drivers of the caprolactam market, including:

• Demand for Nylon 6: Caprolactam is a key raw material used in the production of Nylon 6, which has a wide range of applications in various industries such as automotive, textile, and packaging. The growing demand for Nylon 6, particularly in emerging economies, is driving the demand for caprolactam.
• Growth in end-use industries: The growth in end-use industries such as automotive, construction, and electronics is also driving the demand for caprolactam. These industries use Nylon 6 in various applications, which in turn drives the demand for caprolactam.

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• Technological advancements: The development of new and improved production technologies is also driving the growth of the caprolactam market. Advanced technologies such as biotechnology and green chemistry are being used to produce caprolactam more efficiently and sustainably, which is expected to drive market growth.
• Government regulations: Stringent government regulations regarding the use of certain chemicals in various industries are also driving the demand for caprolactam. For instance, the use of Bisphenol A (BPA) in certain applications has been banned in several countries, which has led to increased demand for caprolactam-based alternatives.
• Shift towards sustainable products: The growing awareness about environmental issues and the shift towards sustainable products are also driving the demand for caprolactam. Caprolactam-based products such as Nylon 6 are recyclable and can be used to produce sustainable products, which is expected to drive market growth.

Key Players

Some of the major players in the market are-

• BASF SE
• China Petrochemical Development Corporation (Cpdc)
• China Petroleum & Chemical Corporation (Sinopec Limited)
• Honeywell International Inc.
• Kuibyshevazot Ojsc
• Lanxess Ag
• Royal Dsm N.V.
• Sumitomo Chemical Company Limited
• Shandong Haili Chemical Industry Co. Ltd.
• UBE Industries

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Application Type

Based on the application type, the market is segmented as textile, industrial, carpet, automotive, film & coating, machinery, electrical & electronics, consumer goods, appliances, wire & cable, and others. The automotive application segment accounted for almost 30% share of the overall industry demand in 2022. In contrast, the consumer goods and appliance segments were the fastest-growing segments, owing to their high penetration in all regions. The segment's growth is attributed to stringent government directives, rising emphasis on salubrious air and water, and the necessity to better the standard of processing and engineering end-products.

Regional Insights

In terms of regions, presently, Asia-Pacific is the largest consumer of caprolactam and is estimated to lead the market during the forecast period. China and Japan are the growth engines of the region and accounted for the largest share of the regional volumetric consumption in 2022. The market volume is relatively low in the RoW region and is expected to register a low growth of 2.9% during the forecast period. North America and Europe are also likely to offer substantial growth opportunities in the coming five years.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s caprolactam market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The caprolactam market is segmented into the following categories.

By Material Type

• Engineering Plastics
• Fibers

By Application Type

• Automotive
• Film & Coating
• Industrial
• Electrical & Electronics
• Consumer Goods
• Appliances
• Wire & Cable
• Textile
• Carpet
• Machinery
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the material types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.