According to the latest report by IMARC Group, titled ” Caprolactam Market: Global Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 ,” offers a comprehensive analysis of the industry, which comprises insights on the caprolactam market growth . The report also includes competitor and regional analysis, and contemporary advances in the market. The global caprolactam market size reached US$ 16.0 Billion in 2022 . Looking forward, IMARC Group expects the market to reach US$ 21.2 Billion by 2028 , exhibiting a growth rate (CAGR) of 4.88% during 2023-2028 .
Caprolactam Market Overview:
Caprolactam is a chemical compound widely used to produce nylon fibers and resins. It is a cyclic amide derived from the reaction of cyclohexanone with ammonia. It is a crucial intermediate in the manufacturing process of nylon 6, a versatile synthetic polymer used in various applications, including textiles, automotive components, electrical insulation, and engineering plastics. Its properties include high tensile strength, durability, and resistance to chemicals. It is produced on a large scale globally and has become an essential component in the production of nylon, contributing to the growth and development of various industries.
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Caprolactam Market Demand and Growth Analysis:
The global market is mostly driven by the increasing demand for nylon. Caprolactam is a key raw material used in producing nylon 6, a versatile polymer with many applications. In line with this, the rising product demand for producing engineering plastics and fibers is significantly contributing to the market. Furthermore, the expanding automotive sector, driven by growing vehicle production and technological advances, is fueling the demand for caprolactam, stimulating the market. Apart from this, the nylon fibers derived from caprolactam produce textiles, carpets, upholstery, and clothing.
With an expanding population, inflating disposable incomes, and changing fashion trends, the demand for consumer goods has increased, thereby driving the caprolactam market expansion. Besides, the ongoing research and development in caprolactam production have led to technological advancements and process improvements. New manufacturing techniques have made the production process more efficient and environmentally friendly. These advances have increased the availability of caprolactam and reduced production costs, contributing to market growth. Additionally, favorable government policies, foreign investments, and favorable economic conditions in developing economies are providing a boost to the market.
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Key Market Segmentation:
Top Caprolactam Market Leaders Worldwide:
- AdvanSix Inc.
- Alpek SAB de CV
- BASF SE
- Capri Corporation
- China Petrochemical Development Corporation
- China Petrochemical Corporation (Sinopec)
- DOMO Chemicals GmbH
- Gujarat State Fertilizers & Chemicals Limited
- Koninklijke DSM NV
- LANXESS AG
- Sumitomo Chemical Co., Ltd.
- Toray Industries Inc.
- Ube Industries, Ltd.
Breakup by Source:
- Cyclohexane
- Phenol
- Toluene
- Others
Breakup by End-Product:
- Nylon 6 Fibers
- Nylon 6 Resins
- Others
Breakup by Application:
- Industrial Yarns
- Engineering resins and films
- Textiles and Carpets
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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