The market research report, entitled Caprolactam Market aims to help the stakeholders discover more information regarding trends in the Caprolactam Market. The report will give an overview of the detailed analysis of the correlated key players in the market, covering their competitive landscape, capacity, and latest developments like investments, expansion of capacity, technological growth, etc. Also, it covers different market segments and other factors affecting the market.

Global Caprolactam Market Forecast:

The caprolactam market was estimated at USD 12.51 billion in 2021 and is likely to grow at a CAGR of 5% during 2022-2028 to reach USD 17.73 billion in 2028.

The report is created using a few approaches that aid in analyzing the company's strengths, overcoming weaknesses, and using opportunities to sort out the pitfalls of the market.

What is caprolactam?

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.

Some existing key 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

Caprolactam Market Segment Analysis:

Stratview Research’s proposed market report on Caprolactam Market contains the segment-wise current market condition. Also, it offers an estimation of future growth opportunities.

As per the report, the market is segmented by:

• By Material Type(Engineering Plastics, Fibers),
• ByApplication Type (Textile, Industrial, Carpet, Automotive, Film Coating, Machinery, Electrical Electronics, Consumer Goods, Appliances, Wire Cable, and Others),
• ByRegion (North America, Europe, Asia-Pacific, and Rest of the World).

COVID-19 IMPACT

While the majority of organisations had to face losses due to the pandemic, there are a few that have remained stable during this period and are projected to expand gradually in the future. The study on Caprolactam Market by Stratview Research provides a sneak peek into its business success in 2020, as well as how it will perform in and after 2021. The wide-body aircraft settles after the pandemic.

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.
• 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.

Segment Analysis

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 29.6% share of the overall industry demand in 2021. 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 2021. 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.

Customization of Reports 

Stratview Research also provides solutions to custom research requirements for market evaluation, competitive benchmarking, sourcing and procurement, target screening, and other services across sectors with this thorough review.

Research Methodology

Stratview Research's 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.

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