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The caprolactam market is estimated to grow at a CAGR of 5.79% between 2022 and 2027. The size of the market is forecast to increase by USD 5,184.34 million. The growth of the market depends on several factors, including the commercial importance of nylon, the shift towards bio-refineries, and large volumes of ammonium sulfate waste.
This report extensively covers market segmentation by application (nylon 6 fibers, nylon 6 resins, and others), end-user (textile yarn, industrial yarn, engineering plastics, and carpet fibers and staple fibers), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The commercial importance of nylon is notably driving the market growth, although factors such as large volumes of ammonium sulfate waste may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Caprolactam Market Driver
The commercial importance of nylon is a key growth factor driving the growth of the global caprolactam market. Nylon is resistant to high temperatures and can be dyed to any desired color for aesthetic effect. It is used in the manufacture of cooking utensils and utensils such as forks, tongs, brushes, slotted spoons, and spatulas. Additionally, nylon provides a superior non-stick surface finish.
Nylon can be drawn into fibers, which have higher strength and are extensively used in the textile industry. These fibers are used in the manufacture of fabrics with greater toughness and durability. Apart from apparel, nylon is also used in the manufacture of sports equipment, harness straps, ropes, and fishing nets. Thus, the rising importance of nylon is increasing its demand, which, in turn, will drive the market during the forecast period.
Significant Caprolactam Market Trend
A shift in focus to bio-based nylon 6 polymers is a key trend in the growth of the global caprolactam market. Companies that produce nylon 6 polymer plan to switch to bio-based nylon 6 polymer production in the next few years to reduce emissions by more than 80%. In addition, the use of renewable resources also reduces the cost of producing nylon 6 polymer. BASF developed and successfully produced a castor oil-based polymer in the early 1960s.
The company has been developing more bio-based products and increasing its product portfolio in this sector. Ultramid Balance, a nylon 6 polymer, is composed of 60% sebacic acid, a castor oil derivative. This product outperforms its standard nylon 6 products, offering higher stability and resistance to chemicals. In addition, the production of bio-based nylon 6 will not be dependent on fluctuating crude oil prices, thereby maintaining the prices of nylon 6 in the coming years. Thus, owing to such factors, the market is expected to grow during the forecast period.
Major Caprolactam Market Challenge
A large amount of waste ammonium sulfate is a major challenge for the growth of the global caprolactam market. Ammonium sulfate is a commercially important fertilizer. However, it is under scrutiny because it is produced in large quantities as a by-product in the manufacture of caprolactam. Nearly 40% ammonium sulfate is a by-product of a conventional manufacturing cycle using cyclohexane. About 5 tons of ammonium sulfate are produced as a by-product for every ton of caprolactam produced.
Ammonium sulfate is also known to cause skin irritation and is harmful if inhaled. If large quantities are produced, sufficient care has to be taken for its down streaming without leakages. However, the recovery process of ammonium sulfate is usually tedious and not economical. The caprolactam industry is seeking alternative and sustainable methods to produce caprolactam and reduce the amount of ammonium sulfate that is produced in the waste streams. Such factors will restrain the growth of the market during the forecast period.
Key Caprolactam Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Caprolactam Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
aquafil.com - The company offers caprolactam technologies which are used to revamp chemical manufacturing facilities. Also, the company offers various products which include Borgolon e Microlon which are products made from dope-dyed Polyamide 6, Dryarn, and many more.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the nylon 6 fibers segment will be significant during the forecast period. Nylon 6 is conventionally manufactured by the process of melt spinning and is available in multiple forms catering to a wide range of applications. The types of nylon 6 fibers include staple form, mono-filamentous form, and multi-filamentous form. Increased durability and flexibility offered by these semi-crystalline polymers make them preferable for use in casting applications. Nylon 6 fibers are also used to produce high-strength ropes, cogs, and bearings in machining applications. Such factors will increase the growth of the segment during the forecast period.
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The nylon 6 fibers segment was valued at USD 8,461.20 million in 2017 and continue to grow by 2021. Nylon 6 fiber is manufactured in two general product types: one is the regular type for textile purposes, and another one is the high-strength type for industrial purposes. Most nylon 6 is manufactured in the form of staple fiber yarns and filament yarns for the manufacture of tire cords, apparel, carpets, hosiery, upholstery, parachutes, seat belts, ropes, and industrial cords. This variety of applications can be attributed to the specific combination of fiber properties such as tensile strength, elastic recovery, flame resistance, chemical resistance, light stability, and thermal stability, among others. Relatively high fiber strength and initial modulus are necessary for reinforcing applications such as yarns, textiles, tires, and composites. Such demand from various end-users is anticipated to promote the demand for nylon 6 fibers, which, in turn, will increase the demand for caprolactam during the forecast period.
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APAC is estimated to contribute 75% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Nylon 6, one of the most profitable and commercially important polymers, has been in huge demand due to its ease of possibility. APAC has been under focus for the producers as well as the importers due to the concentration of emerging economies. China, Japan, and India are anticipated to be the prime countries in APAC. Japan and China have been leading the caprolactam market in APAC but are expected to witness high growth compared to the global caprolactam manufacturing industry because of the significant presence of demand for products of synthetic fibers. Countries such as India, China, Bangladesh, Vietnam, Indonesia, Thailand, and Singapore are likely to experience heavy growth in the construction sector. Therefore, the increase in expenditure in the construction sector will further drive the growth of the market in APAC during the forecast period.
In 2020-2021, the outbreak of COVID-19 hampered the growth of the regional market in the region. However, caprolactam manufacturing activities were expected to resume to the pre-COVID-19 levels by the end of 2021, as proper preventive measures were taken to protect employees working onsite. This has mitigated the threat of COVID-19 to a large extent and aided in the resumption of manufacturing activities, which is expected to drive the production and subsequent sales of caprolactam in the region during the rest of the forecast period. Technavio expects the regional market to witness a rebound during the forecast period, owing to the vaccination programs in several countries in the region. In the first half of 2021, manufacturing facilities resumed their operations with appropriate COVID guidelines. Therefore, the resumption of industrial activities is expected to contribute to the demand for the market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Caprolactam Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.79% |
Market growth 2023-2027 |
USD 5,184.34 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.16 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 75% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AdvanSix Inc., Alpek SAB de CV, Aquafil Spa, BASF SE, Capro Co., Caprolactam Chemicals Ltd., China Petrochemical Development Corp., Domo Chemicals GmbH, Fibrant, Genomatica Inc., Grupa Azoty SA, Gujarat State Fertilizers and Chemicals Ltd., Highsun Holding Group, Kuibyshevazot Engineering Plastics(Shanghai) Co. Ltd., Lanxess AG, LUXI Group Co. Ltd., ORLEN Unipetrol AS, Sumitomo Chemical Co. Ltd., Toray Industries Inc., and Ube Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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