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Caprolactam Market Analysis | 2023-2028
Caprolactam Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2023-2028
Caprolactam Market is segmented by Material Type (Engineering Plastics, Fibers), by Application Type (Textile, Industrial, Carpet, Automotive, Film & Coating, Machinery, Electrical & Electronics, Consumer Goods, Appliances, Wire & Cable, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
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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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.
There are several drivers of the caprolactam market, including:
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Some of the major players in the market are-
Note: The above list does not necessarily include all the top players in the market.
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Segmentations |
List of Sub-Segments |
Segments with High Growth Opportunity |
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Application Type Analysis |
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. |
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Regional Analysis |
North America, Europe, Asia-Pacific, and Rest of the World |
Asia-Pacific is the largest consumer of caprolactam and is estimated to lead the market during the forecast period. |
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.
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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The caprolactam market is segmented into the following categories.
By Material Type
By Application Type
By Region
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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.
The caprolactam market was estimated at USD 13.23 billion in 2022.
The caprolactam market is likely to reach USD 17.73 billion in 2028.
The caprolactam market is expected to witness an impressive growth of 4.89% CAGR in the foreseeable future.
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 are among the key players in the market.
Asia-Pacific is the largest consumer of caprolactam and is estimated to lead the market in the next five years.
Consumer Goods and Appliances is the dominant application type in the market.
Outstanding energy-absorbing characteristics, an upsurge in the claim for durable polyamide 6, demand for recyclable caprolactam, and the forthcoming safety guidelines & pioneering techniques are the factors driving the growth of the market.
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