The Caprolactam Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Caprolactam Global Market Report
2024, The caprolactam market size has grown strongly in recent years. It will
grow from $15.61 billion in 2023 to $16.61 billion in 2024 at a compound annual
growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed
to textile industry growth, consumer goods manufacturing, innovations in nylon
applications, synthetic fibers, automotive sector demand, expansion of
manufacturing facilities.
The caprolactam market size is expected to see strong growth in the next few
years. It will grow to $21.57 billion in 2028 at a compound annual growth rate
(CAGR) of 6.8%. The growth in the forecast period can be attributed to growing
demand for nylon 6, expansion in emerging markets, increasing demand for
engineering plastics, e-commerce packaging, stringent emission standards. Major
trends in the forecast period include sustainable production methods, bio-based
caprolactam, e-commerce packaging, advancements in manufacturing technologies,
automotive lightweighting trends.
The growth of the automotive industry is expected to propel the growth of the
caprolactam market going forward. The automotive industry comprises the
companies involved in the design, manufacture, and sale of motor vehicles and
related components. The shift towards fuel-efficient and environment-friendly
automobiles has encouraged the use of nylon 6 in automobiles to reduce weight
and fuel consumption by the vehicle. For instance, according to the India Brand
Equity Foundation, commonly known as IBEF, an Indian government export
promotion agency, vehicle production in India is expected to reach 22.93
million vehicles in 2022. Therefore, the growth of the automotive industry is
driving the caprolactam market.
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The caprolactam market covered in this report is segmented –
1) By Raw Material: Phenol, Cyclohexane, Hydroxylamine Sulfate, Other Raw
Materials
2) By Application: Nylon 6 Filaments, Textile Yarn, Nylon 6 Fibers, Engineering
Plastics, Printer Inks, Other Applications
3) By End-User: Textile Industry, Automobile Industry, Electrical And
Electronics Industry, Other End-Users
Major companies operating in the caprolactam market are forming partnerships to
develop new products and strengthen their positions in the market.
Collaborations and partnerships in the caprolactam market facilitate the
sharing of expertise, resources, and technology, fostering innovation,
improving production efficiency, and expanding market reach. For instance, in
September 2023, Toray Industries Inc., a Japan-based textile company, partnered
with Honda Motor Co. Ltd., a Japan-based automobile company, to jointly develop
chemical recycling technology for glass-fiber reinforced nylon 6 parts obtained
from end-of-life vehicles. The collaboration focuses on depolymerizing the
nylon 6 parts using subcritical water, which has high permeability and
dissolving power, ultimately regenerating the materials as caprolactam, a
crucial raw monomer. The technology has been adopted by the Ministry of the
Environment for a fiscal 2023 project aimed at establishing a decarbonized
circular economy system, and the companies plan to set up a pilot facility to
process 500 metric tons annually of raw resin for validation testing. The
initial phase of the collaboration involves recycling used automotive plastic
parts, with a goal to apply the technology to automotive resin parts recycling
by around 2027.
The caprolactam market report table of contents includes:
1. Executive Summary
2.
Caprolactam Market Characteristics
3.
Caprolactam Market Trends And Strategies
4.
Caprolactam Market - Macro Economic Scenario
5. Global
Caprolactam Market Size and Growth
.
32. Global Caprolactam Market Competitive Benchmarking
33. Global
Caprolactam Market Competitive Dashboard
34. Key
Mergers And Acquisitions In The Caprolactam Market
35.
Caprolactam Market Future Outlook and Potential Analysis
36.
Appendix
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