Discover the driving forces behind the growth of the market, including expansion in Nylon 6 production capacity & rising demand for sustainable products

VANCOUVER, BC, CANADA, June 5, 2024 /EINPresswire.com/ -- The global caprolactam market size was USD 15.07 Billion in 2022 and is expected to register a revenue CAGR of 3.9% during the forecast period. The global caprolactam market is anticipated to witness significant growth in the coming years, driven by a convergence of factors contributing to market revenue expansion. A recent market research report sheds light on the key drivers, segment insights, and growth projections shaping the landscape of the caprolactam industry.

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Driving Forces:

Expansion in Nylon 6 Production Capacity: The escalating demand for nylon fabric across industries, particularly in industrial yarn and coating applications, is fueling the growth of caprolactam market revenue. Nylon 6, a versatile material essential for various applications, relies on caprolactam as a crucial intermediate compound.

Rising Adoption in Electronics: Caprolactam's utilization in electronic components, owing to Nylon 6's exceptional properties such as dielectric strength and heat resistance, is fostering increased adoption in the electronics industry. The proliferation of electronic devices like smartphones and computers is driving the demand for Nylon 6 and, consequently, caprolactam.

Surging Demand for Sustainable Products: The market is witnessing a notable surge in demand for sustainable and bio-based products. Manufacturers are actively exploring renewable feedstocks and bio-based technologies for caprolactam production, aligning with the growing preference for eco-friendly solutions.

Challenges Ahead: Despite the promising growth prospects, the market faces certain challenges that could impede revenue expansion. Issues like caprolactam toxicity, presence of substitute products for Nylon-6, and supply chain disruptions due to fluctuating raw material prices pose significant barriers to market growth.

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Segment Insights:

Raw Material Dynamics: Cyclohexane emerges as the dominant raw material segment, primarily due to its pivotal role in Nylon 6 production. The textile, automotive, and construction industries are major consumers, driving sustained demand for cyclohexane.

Application Highlights: Textiles and carpets stand out as the leading application segment, fueled by the versatile properties of Nylon 6. The demand for nylon-based textiles continues to surge, supported by global expansions in textile industries, particularly in emerging economies.

End-Use Analysis: Textile yarn emerges as the largest revenue contributor, owing to its extensive utilization in textile applications across various sectors. Additionally, the plasticizers segment exhibits significant growth potential, driven by the versatility and adaptability of caprolactam in various applications.

Future Outlook: The caprolactam market is poised for robust growth in the foreseeable future, propelled by expanding nylon production capacities, increasing adoption in diverse industries, and a growing emphasis on sustainability. However, addressing challenges such as toxicity concerns and supply chain disruptions will be crucial for sustaining this growth trajectory.

The comprehensive insights provided by the market research report offer stakeholders valuable perspectives to navigate the evolving landscape of the caprolactam market, capitalize on growth opportunities, and address emerging challenges effectively.

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Caprolactam Top Companies and Competitive Landscape

The caprolactam market is consolidated, with a few small and large companies accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Caprolactams.

Some of the major companies included in the caprolactam market report are:

Toray Industries, Inc.

Luxi Group

Domo Chemicals

Fibrant

Advansix

UBE Corporation

Sumitomo Chemical Co., Ltd.

China Petrochemical Corporation.

BASF SE

Aquafil S.p.A.

Caprolactam Latest Industry Updates

In September 2022, Xuyang Group launched caprolactam production at its Cangzhou Park facility, completing the second phase of a 300,000-ton annual expansion project. This expansion increased their total production capacity to 750,000 tons per year.

In March 2022, Domo Chemicals significantly increased its caprolactam production capacity in Germany, reaching 500,000 tons per year, up from 176,000 tons per year.

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Caprolactam Market Segment Analysis

For the purpose of this report, Emergen Research has segmented caprolactam market on the basis of raw material, application, end-use, and region:

Raw Material Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)

Phenol

Cyclohexane

End Product Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)

Nylon 6 Resins

Nylon 6 Fibers

Application Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)

Engineering Resins and Films

Industrial Yarns

Textiles and Carpets

Other Applications

End Use Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)

Textile Yarn

Textile Stiffeners

Film Coatings

Synthetic Leather

Plastics

Plasticizers

Others

Regional Outlook (Revenue, USD Billion, Volume, Kilotons; 2019–2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of MEA

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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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