According to the report, the caprolactam market size 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.
What is caprolactam?
Caprolactam is an organic compound, which is used as an intermediate in nylon manufacture. It is a colorless solid and comes from the lactam of caproic acid. It is mildly toxic in nature and is used with fibers for various items.
Caprolactam is used in different applications such as automotive, film & coating, electrical & electronics, consumer goods, appliances, wire & cable, textile, carpet, machinery, and many other industrial items.
The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment but also help in rearranging the strategies and future- decisions in a fruitful manner.
The growth of the caprolactam market is primarily driven by the following-
- Outstanding energy-absorbing characteristics,
- An upsurge in the claim for durable polyamide 6,
- Demand for recyclable caprolactam,
- The forthcoming safety guidelines & pioneering techniques.
Leading players in the market -
To build a successful business, it is vital to understanding the market - both the customers and the competitors. The report published consists of a list of key players active in the Caprolactam Market, which is given below -
- 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
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.
The research report aims to help the users learn about their market size and potential to connect with customers. This report answers to the following questions:
· How big is the potential Caprolactam Market?
· Will this market grow or shrink in the future?
· Who are our top competitors or key players?
· What market share do the competitors own?
· How Covid19 has affected the market?
· How long will it take to recover from the Covid-impact?
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