Global caprolactam market is anticipated to reach $28.42 billion by the end of 2026, according to the latest research available at Market Study Report LLC, report provides detailed segmentation of the caprolactam market based on product, application, end user and region.
The product is a significant raw material in the production of nylon 6 engineering resins and nylon 6 fibers. In the automotive industry, the nylon 6 fibers that are widely used for tire cord manufacturing, engine covers, and gears & bearings owing to their excellent characteristics. Back in 2016, the product observed high pricing due to tight supply and increased price of raw materials (benzene and derivatives).
Some of the significant insights related to the global caprolactam market mentioned in the report are as follows:
- The market is majorly driven by high demand from several end-use industries like textiles, automobiles, wire & cabling, engineered plastics, electrical & electronics, specialty film packaging, and others.
- The automotive and textile industries are the biggest consumers of caprolactam, high demand from these industries can be attributed to the rising global population and consumer’s surging personal incomes.
- Increasing preference for modern products like electric vehicles and robust economic growth across several middle-income nations in the world has resulted in high product demand.
- The growing demand for fashion clothing, apparels, sportswear, protective clothing, and others is driving growth for caprolactam market.
- The nylon 6 fibers that constitute the end-product spectrum of caprolactam are extensively used to manufacture textile products and industrial yarns.
- Caprolactam is manufactured from cyclohexane, ammonia, and phenol. Since its raw materials are derived from crude oil, the product prices are highly volatile.
- The raw materials production is largely concentrated in the United States and China.
With regards to end-use spectrum, the caprolactam market includes two major products nylon 6 resins and nylon 6 fibers. Nylon 6 fibers are the leading product type owing to its large range of applications and exceptional properties. Nylon 6 fibers are primarily used in industrial yarns, carpet, and textile industry, while Nylon 6 resins are mostly used in engineering plastics, specialty film packaging, wires & cables, and automotive industries.
Request sample copy of this Report@ https://www.marketstudyreport.com/request-a-sample/1695172/
In terms of geographical contribution, Asia Pacific is the largest and fastest growing regional player with China being the largest consumer of caprolactam in the world. This is due to superfluous capacity in China and swift developments in textile, automobile, and plastic industries of the region’s middle-income nations. Other Asian nations with significant growth potential are Korea, Taiwan, Japan, the Indian subcontinent and Southeast Asian countries, cites the report.
The report also delivers an all-inclusive analysis of the caprolactam market drivers, restraints, and opportunities over the estimated timeline. An in-depth analysis of the market in terms of end-product, end-use, application, regional landscape, and the competitive spectrum is also documented in the report. In addition, company profiles of market majors have been highlighted in the report under business overview, product benchmarking, financials, and recent developments.
The competitive landscape of the global caprolactam market comprises of several international and domestic players. Some of the important market majors include China National Petroleum Corp., BASF SE, Capro Corp., Honeywell Chemical Intermediates, DOMO Caproleuna GmbH, China Petroleum & Chemical Corp., IRPC Public Company Ltd, and Royal DSM NV. The leading strategies practiced by market majors in this business space include launching unique products and forming partnerships with other industry majors to enhance their global presence and client base, thereby boosting market growth over the forecast timeline.