Press release
Caprolactam Market is estimated to be US$ 18.44 billion by 2030 with a CAGR of 3.5% during the forecast period
Caprolactam Market
Report link:
https://www.prophecymarketinsights.com/market_insight/Global-Caprolactam-Market-By-Raw-460
Segmentation:
The Global Caprolactam Market accounted for US$ 13.1 billion in 2020 and is estimated to be US$ 18.44 billion by 2030 and is anticipated to register a CAGR of 3.5%. The Global Caprolactam Market is segmented by raw material, type, product, application and region.
By raw material, the Global Caprolactam Market is segmented into Cyclohexane/Benzene, Phenol and Toluene, Ammonia, and Others
By type, the Global Caprolactam Market is classified into Solid and Liquid
By product, the Global Caprolactam Market is classified into Polymer Chip, Nylon 6 resins and film, Nylon 6 Fibers and Others
By application, the Global Caprolactam Market is further divided into Fiber, Engineering Plastics and Others
By region, Asia-pacific is expected to account for major revenue share in Global Caprolactam Market, followed by other regions.
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Competitive Analysis:
The key players operating in the global caprolactam market includes:
Koninklijke DSM N.V., Honeywell International Inc., Ube Industries Ltd., BASF SE, Capro Corporation, China Petrochemical Development Corporation, OSTCHEM, Braskem SA, DOMO Caproleuna GmbH, and Sumitomo Chemical Co. Ltd.
Caprolactam market trends:
Sustainability Initiatives:
The caprolactam industry is witnessing a growing focus on sustainability. Companies are exploring and investing in more environmentally friendly production processes, including bio-based caprolactam, which is derived from renewable resources. Sustainability considerations are increasingly becoming a key driver for innovation in the industry.
Rising Demand for Nylon-6:
Caprolactam is a crucial precursor for the production of nylon-6, a widely used engineering thermoplastic. The demand for nylon-6 is influenced by various industries, including textiles, automotive, and consumer goods. Trends in these industries, such as the shift towards lightweight materials and increasing demand for durable goods, can impact the demand for caprolactam.
Technological Advancements:
Ongoing research and development efforts are focused on improving caprolactam production processes, enhancing efficiency, and developing new applications. Innovations in technology can lead to more cost-effective and sustainable methods for caprolactam synthesis.
Global Economic Factors:
Economic factors, such as global economic growth, manufacturing output, and consumer spending, play a significant role in the caprolactam market. Economic downturns or upswings can influence the demand for products that use caprolactam as a key component.
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