The latest report by IMARC Group, titled “Caprolactam Market: Global Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” offers a comprehensive analysis of the caprolactam market growth. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global caprolactam market size reached US$ 16.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 24.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4% during 2024-2032.
Caprolactam Market Trends:
The global market is primarily driven by the rise in disposable incomes and changing consumer preferences. The expanding electronics industry, which requires durable and heat-resistant materials, is another significant driver. Furthermore, growing urbanization and infrastructure development are leading to higher demand for carpets and rugs manufactured from nylon six fibers. Additionally, the push towards sustainable production methods, including the recycling of caprolactam, is gaining traction, thus supporting market growth. The increasing adoption of caprolactam in engineering plastics due to its mechanical properties is another key factor. Besides, advancements in caprolactam production technologies are improving efficiency and lowering production costs, driving its market further. The rise in global automotive production, particularly in emerging economies, is bolstering the demand for caprolactam, given its extensive application in tire cords and automotive fabrics.
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Caprolactam Market Scope & Growth Analysis:
The scope of the market is broadening due to the increased penetration in emerging economies where industrialization and urbanization are accelerating. The global shift towards more sustainable and eco-friendly materials is also broadening the scope for caprolactam, particularly in applications such as bio-based nylon production. Moreover, the growing emphasis on circular economy practices is leading to higher adoption of recycled caprolactam, thereby expanding the market’s reach. The textile industry’s ongoing growth, especially in Asia-Pacific, where production facilities are rapidly increasing, is another factor contributing to the broadening of market scope. Furthermore, the automotive sector’s continuous evolution, particularly with the trend towards electric vehicles, is creating new opportunities for caprolactam as manufacturers seek lightweight and durable materials to improve energy efficiency. Additionally, the market scope is being broadened by the increasing use of caprolactam in 3D printing filaments, driven by the rising popularity of additive manufacturing. Besides, the expanding application of caprolactam in the electronics industry, where it is used in high-performance components, is further contributing to market growth.
Top Caprolactam Market Leaders Worldwide:
- AdvanSix Inc.
- Alpek S.A.B. de C.V.
- BASF SE
- Capro Corporation
- China Petrochemical Development Corporation
- China Petrochemical Corporation (Sinopec)
- DOMO Chemicals GmbH
- Gujarat State Fertilizers & Chemicals Limited
- Koninklijke DSM N.V.
- LANXESS AG
- Sumitomo Chemical Co., Ltd.
- Toray Industries Inc.
- Ube Industries, Ltd.
Key Market Segmentation:
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)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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