February 17, 2021
According a recent study titled ‘Global Caprolactam Market Analysis, 2020’, available with Market Study Report LLC, global caprolactam market is projected to showcase a CAGR of 4% over 2020-2025.
As per the findings of the report, uptick in nylon 6 production and escalating demand for synthetic fibers from automotive industry is projected to drive global caprolactam market growth over the forecast period.
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For the uninitiated, caprolactam is a colorless solid compound utilized in manufacturing of synthetic fibers, mostly nylon 6 and nylon 6,6. It serves as an intermediate in textile industry and mostly undergoes captive consumption in polyamide production process.
Proceeding further, research literature divides the overall caprolactam industry size into several segments, including end product type (nylon 6 resins and nylon 6 fibers), application spectrum(industrial yarn, textile yar, textile & carpet fiber, engineering resin & films, and others), end-use scope(automotive, textile, carpet manufacturing and others), and regional bifurcation (Europe, Aisa Pacific, Middle East & Africa, North America, and South America).
Industry experts cite that Asia Pacific, accounting for over 40% of global caprolactam market share in 2019, will continue to follow a similar growth trend over the forecast timespan. In fact, the overall industry has recently witnessed poor profit margins and only APAC region is expected to address the unstable demand across the globe. The regional growth can largely be ascribed to China being a major consumer of caprolactam as it boasts of high production rate of polyamide synthetic fibers.
Considering the competitive arena, top contenders in global caprolactam market are Kurskhimvolokno Ltd., Shandong Haili Chemical Industry Co. Ltd., Fujian Jinjiang Petrochemical, Toray Industries, Inc., KuibyshevAzot PJSC, AdvanSix, Juhua Group Corp., UBE Industries Ltd., Lanxess AG, Fibrant, Sinopec Group, China National Petroleum Corp., IRPC Public Co., Ltd., Capro Corp., Gujarat State Fertilizers & Chemicals Ltd., China Petroleum and Chemical Corp., Honeywell International, Inc., Sumitomo Chemicals Co., Ltd., BASF SE, and Koninklijke DSM N.V.