With CAGR of 4.8%, Caprolactam Market Hits US$ 20.2 Billion by 2027

According to the latest report by IMARC Group, titled "Caprolactam Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," The global caprolactam market size reached US$ 15.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 20.2 Billion by 2027, exhibiting a growth rate (CAGR) of 4.8% during 2022-2027.

Caprolactam is an organic compound with the chemical formula (C6H11NO). It is most commonly obtained by the synthesis of cyclohexane, phenol and toluene. Characterized by a clear to milky-white color, it is a crystalline lactam or a cyclic amide of caproic acid. It is soluble in water and other liquids, including oxygenated and chlorinated solvents. It is a synthetic polymer that is widely used for manufacturing nylon 6. It exhibits lightweight properties, improved elasticity and excellent chemical resistance. As a result, it is used to form high-strength nylon fibers and resins that are further utilized for the production of textiles, carpets, films, brush bristles, industrial yarns, synthetic leather, plastics, plasticizers and lysine.

Get Free Sample Copy of Report at - https://www.imarcgroup.com/caprolactam-market/requestsample

Global Caprolactam Market Trends:

The global market is primarily driven by the growing utilization of nylon 6 in the textile industry. These fibers are characterized by excellent tensile elastic strength and fatigue, as well as heat resistance. Due to this, they are combined with elastane to attribute stretch-fit properties to the fibers that are used in the manufacturing of numerous clothing items, including casual wear, swimwear, sportswear and hosiery. These polymers are also employed in the automotive sector for the production of doors, windows, gear, airbags, tire cords and other components. Moreover, there has been a shifting preference toward lightweight vehicle components as their usage is associated with improved fuel efficiency. This, along with the significant growth in the automotive industry, is providing an impetus to the market growth.

Furthermore, product innovations and extensive research and development (R&D) activities undertaken by the players have led to the introduction of bio-based caprolactam variants, which are gaining widespread prominence among end users. The development of caprolactam with minimal traces of ammonium sulfate, a hazardous by-product, is also creating a positive outlook for the market.

Do you know more information, Contact to our analyst at- https://www.imarcgroup.com/caprolactam-market

Key Market Segmentation:

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being 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., and Ube Industries, Ltd., etc.

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)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Contact us:
IMARC Group
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-080

Who we are:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.