Caprolactam Market Analysis :
Caprolactam is a compound used in the production of nylon 6 fiber. Nylon 6 fiber is widely used in the production of textile fibers, industrial fibers, and carpets. Cyclohexane, ammonia, and phenol are the raw materials used in production of caprolactam. Caprolactam is commonly used across various industries such as textile yarns, textile stiffeners, film coatings, synthetic leather, plastics, and plasticizers. Moreover, nylon 6 demonstrates various properties such as high strength & elasticity, chemical resistance, damage resistance from oils, and abrasion resistance. These abilities have increased the demand for nylon 6 applications across the textile, automotive, and electrical & electronics industries. In addition, it is widely applicable in the manufacture of sports equipment, ropes, and fishing nets. Rise in demand for nylon 6 due to its numerous properties and increase in end-use applications are expected to propel the market growth during the forecast period.
COVID-19 scenario analysis
The outbreak of coronavirus has hampered the growth of the textile industry across the world. The stay home policy has reduced the number of people going out for shopping. The outbreak of coronavirus has negatively impacted the economy, which, in turn, has resulted loss of jobs across various developing countries. This may further result in decline of disposable income, which reduces the spending capacity of consumers. Moreover, supply chain disruptions have further reduced the demand for the product across various countries. The government has forced to shut down textile outlets to prevent the further spread of the virus due to public gatherings. These factors are expected to reduce the demand for caprolactam.
Market scenario analysis
Rapid urbanization and increase in industrialization are the major factors that drive the global caprolactam market. Research and development activities are increasing to reduce the production of ammonium sulfate during the manufacturing of caprolactam, as ammonium sulfate is hazardous to the environment. Moreover, surge in disposable incomes will increase the individual’s buying capacity on clothing and automobiles, which is expected to create lucrative opportunities for the market growth. In addition, rise in demand for clothing and expansion of the automobile industry are expected to boost the demand for caprolactam. However, fluctuation in raw material prices is expected to restrain market growth.
Market trends
Nylon 6 fiber is widely used across various industries, as it is wrinkle proof and exhibits high resistance to chemicals, such as acids and alkalis. The stretch fit properties when combined with spandex fibers makes it essential in sportswear, swimwear, hosiery, and fashion wear. In addition, nylon 6 fibers are easy to dye, produce deep & bright shades, offer high strength, and are lightweight. These numerous characteristics along with various end-use applications are expected to accelerate the global caprolactam market.
Another trend observed is the use of nylon 6 in automotive industry to reduce the weight of the vehicles. The nylon 6 parts are lightweight and provide higher strength than the metal parts. Lightweight parts further reduce the consumption of fuels, which, in turn, curtails the carbon emission from the vehicles. This is expected to create remunerative growth opportunities for the market during the forecast period.
Regional insights
Region wise, the global caprolactam market is analyzed across North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Asia-Pacific is the largest market for caprolactam in the upcoming years. This is attributed to rise in demand for luxury cars, due to increase in disposable income of consumers in the region. However, North America and Europe are expected to grow significantly during the forecast period, due to rapid industrialization, thereby leading to the establishment of various automotive and consumer appliance manufacturing plants in the regions.
Key benefits of the report
- This study presents the analytical depiction of the global caprolactam industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global caprolactam market share.
- The current market is quantitatively analyzed to highlight the global caprolactam market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global caprolactam market research report:
- Which are the leading players active in the global caprolactam market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Caprolactam Market Report Highlights
| Aspects | Details |
 By Raw material |
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 By Application |
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 By End use |
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 By Region |
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 Key Market Players | Lanxess AG, Highsun Group, Gujarat State Fertilizers & Chemicals Limited, Luxi Chemical Group Co., Ltd., Alpek S.A.B. de C.V., China Petroleum & Chemical Corporation (Sinopec), The Aquafil Group, AdvanSix Inc., Zhejiang Hengyi Group Co., Ltd., Toray Industries, Inc., China Petrochemical Development Corporation, KuibyshevAzot PJSC, Ube Industries, Ltd., GrupaAzoty, Domo Chemicals, Spolana, BASF SE, Sumitomo Chemical Co., Ltd., Capro Co., |
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