Global Caprolactam Market to Undertake Strapping Growth During 2024 - 2031 | China Petroleum & Chemical Corporation

The global caprolactam market size is estimated at US$ 16,885.6 Million in 2022 and CAGR of 6.57% and expected to reach at US$ 28,091.1 Million by 2023-2030.

BURLINGAME, CALIFORNIA, UNITED STATES, June 17, 2024 /EINPresswire.com/ -- Market Overview:

The global caprolactam market size is estimated at US$ 16,885.6 Million in 2022 and is expected to expand at a CAGR of 6.57% and expected to reach at US$ 28,091.1 Million by 2023-2030.

Market Dynamics:

The Global Caprolactam Market is driven by increasing demand from automotive industry for engineering plastics applications and rising fiber consumption in Asia Pacific region. Caprolactam based engineering plastics like nylon 6 are increasingly being used in automotive components that require high strength to weight ratio like engine covers, air intake manifolds, tubing and others. This is owing to properties of nylon 6 like chemical resistance, dimensional stability and superior mechanical properties at high temperatures. Nylon 6 fibers are majorly consumed in textile and carpet industries, especially in developing economies of Asia Pacific with largest carpet producing countries including China, India and Pakistan.

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Major Market Drivers for the Global Caprolactam Market: Increasing Demand from Nylon Manufacturing

The global demand for nylon 6 fiber and engineering resins is increasing significantly which is boosting the growth of the caprolactam market. Nylon 6 is one of the most widely used polymers across diverse industries such as automotive, textiles, electrical & electronics, coatings, films & injection molding due to its properties like high tensile strength, elasticity, durability and resistance to water, chemicals, and abrasions. Caprolactam is a key raw material used in the production of nylon 6 resins and fibers. With rising applications of nylon 6 in various end-use industries, the consumption of caprolactam is growing considerably. Additionally, growing population and urbanization in developing countries are augmenting the demand for nylon 6 in textiles, carpets, and household goods which is positively impacting the caprolactam market.

Increasing Consumption in Polymer Production and Engineering Plastics

Apart from nylon 6, caprolactam also finds usage as an intermediate in the production of other polymers and engineering plastics. It is utilized in resin manufacturing such as polyamides, polyesters, alkyd resins, polyurethanes, and epoxy resins. Furthermore, caprolactam based engineering plastics are gaining traction due to their superior physical, mechanical, thermal, and chemical resistant properties. These plastics replace conventional materials in several industries thereby stimulating the growth of the caprolactam market. Their rising uptake in automotive, electrical & electronics, consumer goods due to compelling attributes like lightweight, wear & impact resistance, and recyclability is driving the global demand for caprolactam.

Major Market Trends in the Global Caprolactam Market: Rising Adoption of Bio-Based Production Methods

To address environmental sustainability and comply with stringent regulations, green chemistry technologies are gaining widespread research focus. One such notable trend gaining momentum in the caprolactam market is the use of bio-based methods for its production. Conventional caprolactam is synthesized through fossil fuel-based routes which are energy intensive and generate toxic by-products. However, several biotech an

Top Companies Featured in This Report:

★ BASF SE
★ China Petroleum & Chemical Corporation
★ China Petrochemical Development Corporation
★ Honeywell International Inc.
★ KuibyshevAzot OJSC
★ Royal DSM N.V.
★ UBE Industries
★ SINOPEC among others.

Market Segmentation:

By Product Type:

★ By Raw Material: Cyclohexane/Benzene, Phenol and Toluene, Ammonia, Others
★ By Product Type: Nylon 6 Fibers (Textile, Carpet, Industrial Yarn, Others), Nylon 6 resins and films (Automotive Industry, Specialty Film Packaging for Food, Wire and Cables, Others)

Key Regions/Countries are Classified as Follows:

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
South America (Brazil, Argentina, Rest of SA)
Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
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Reasons to Obtain Our Comprehensive Market Report:

• Conduct an extensive analysis of various aspects of the Global Caprolactam Market utilizing Porter's Five Forces framework.

• Gain insights into the growth rate and market shares of different product types and applications/end-users within the Global Caprolactam Market.

• Explore the Global Caprolactam Market dynamics across different regions through comprehensive regional analysis.

• Assess the impact of Covid-19 on the Global Caprolactam Market with a meticulous research approach.

• Stay updated on the latest developments, market shares, and strategies of key market players within the Global Caprolactam Market.

• Delve into a thorough evaluation of the market strategies, geographical presence, and business segments of the top players in the Global Caprolactam Market.

• Anticipate key challenges, product advancements, and solutions that may influence the market's progression and threats.

Key Questions Answered:

• What was the size of the Global Caprolactam Market in 2021, and what will it be worth by 2030?
• What is the current global scenario for the Global Caprolactam Market?
• What are the optimal business strategies for maximizing growth potential?
• What are the recent trends in the Global Caprolactam Market?
• What is the market share in terms of revenue, sales, and size in specific geographical regions?
• Who are the key industry players in the Global Caprolactam Market?
• Which segments of the Global Caprolactam Market are in high demand?

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