Caprolactam Market worth USD 18.8 billion by 2030

The Market Statsville Group (MSG) publishes the new report on the "Caprolactam Market by Technology (Hydroxylamine Phosphate Oxine and Hydroxylammonium Ammonium Sulfate Oximation), by Application (Nylon 6 Fibers and Nylon 6 Resins), by End-Use (Textile Yarn, Industrial Yarn, Engineering Plastics, and Carpet Fibers & Staple Fibers), by Region – Global Share and Forecast to 2030".

The global caprolactam market size is projected to grow at a CAGR of 5.5% to reach USD 18.8 billion by 2030 from USD 12.3 billion in 2021. Increasing demand for engineering plastics and films in manufacturing various automotive parts, including engine covers, gears, and bearings, is expected to drive caprolactam market growth due to their resistance to oils and greases. Caprolactam is expected to drive further market growth with increased demand for nylon 6 resins in engineering plastics manufacturing to be used in other technical components for the electrical & electronics, engineering, and packaging industries.

Global Caprolactam Market Segmentation

The caprolactam market has been segmented into technology, application, end-use, and region.

• By Technology (Hydroxylamine Phosphate Oxine, Hydroxylammonium Ammonium Sulfate Oximation, and Others)
• By Application (Nylon 6 Fibers, Nylon 6 Resins, and Others)
• By End-Use (Textile Yarn, Industrial Yarn, Engineering Plastics, and Carpet Fibers & Staple Fibers)
• By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)

Nylon 6 fibers, by application, is estimated to hold the largest market share during the forecast period

Based on application, the global caprolactam market is segmented into nylon 6 fibers, nylon 6 resins, and others. The nylon 6 fibers method segment generated the highest revenue of 61.5% of the global caprolactam market in 2021, and it is expected to register a significant CAGR from 2022 to 2030. Caprolactam is an essential raw material for formulating nylon 6 fibers, films, and resins. Around 70% goes into producing nylon 6 fibers and the rest 30% is utilized for manufacturing films and resins. Nylon 6 fibers are primarily used in the textiles industry for manufacturing industrial yarns and carpets. They are mixed with other fibers for stretch-fit characteristics used to produce sportswear, hosiery, and more.

Caprolactam formulated nylon 6 fibers are observed to be increasingly replacing metals and other materials in the automotive industry globally. Their applications in the industry include cord manufacturing, producing gears & bearings, engine outer covers, and other under-the-hood components due to characteristics such as extreme fatigue resistance, good tensile strength, and longer durability, among others.

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Asia Pacific accounts for the largest market share in the caprolactam market 2021

Based on the regions, the global caprolactam market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the highest market share of 50.1% in the global caprolactam market and was anticipated to maintain its dominance throughout the forecast period. India is projected to witness high demand growth for automobiles in the Asia Pacific due to industrialization and government support to manufacture vehicles.

Moreover, increasing cranes production, including electric overhead traveling (EOT) cranes, ladle cranes, mobile cranes, floating cranes, hydraulic decks, crab cranes, and controller cranes, is expected to drive market growth. Indian automotive industry has been shaped primarily by government interventions in the form of policies to support vehicle manufacturing.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the caprolactam market. It also consists of the profiles of leading companies such as AdvanSix Inc., BASF SE, Alpek S.A.B. de C.V., The Aquafil Group, Capro Co., Grupa Azoty, Gujarat State Fertilizers & Chemicals Limited, Highsun Group, KuibyshevAzot PJSC, China Petrochemical Development Corporation, Domo Chemicals, Lanxess AG, Luxi Chemical Group Co., Ltd., China Petroleum & Chemical Corporation, Spolana, Sumitomo Chemical Co., Ltd., Toray Industries, Inc., Ube Industries, Ltd., and Zhejiang Hengyi Group Co., Ltd.

Browse complete report: https://www.marketstatsville.com/caprolactam-market

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