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Global Caprolactam Market 2024 - By End-User Analysis, Competitive Landscape And Industry Overview 2033
Caprolactam Market
As per the report, the caprolactam market size has grown strongly in recent years. It will grow from $15.61 billion in 2023 to $16.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The caprolactam market size is expected to see strong growth in the next few years. It will grow to $21.57 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
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Rise Of Automotive Industry To Drive Market Growth
The growth of the automotive industry is expected to propel the growth of the caprolactam market going forward. The automotive industry comprises the companies involved in the design, manufacture, and sale of motor vehicles and related components. The shift towards fuel-efficient and environment-friendly automobiles has encouraged the use of nylon 6 in automobiles to reduce weight and fuel consumption by the vehicle. For instance, according to the India Brand Equity Foundation, commonly known as IBEF, an Indian government export promotion agency, vehicle production in India is expected to reach 22.93 million vehicles in 2022. Therefore, the growth of the automotive industry is driving the caprolactam market.
Technological Advancements Driving Innovation In Caprolactam Market
Technological advancements have emerged as a key trend gaining popularity in the caprolactam market. Major companies operating in the caprolactam sector are focused on developing new technological solutions to strengthen their position in the market. For instance, in July 2021, Fibrant, a Netherlands-based chemical products and services company, marketed its caprolactam under the tradename EcoLactam, a new generation caprolactam with a reduced carbon footprint. The company will reduce its carbon footprint by over 50 percent by applying proprietary Hydranone technology.
The caprolactam market covered in this report is segmented -
1) By Raw Material: Phenol, Cyclohexane, Hydroxylamine Sulfate, Other Raw Materials
2) By Application: Nylon 6 Filaments, Textile Yarn, Nylon 6 Fibers, Engineering Plastics, Printer Inks, Other Applications
3) By End-User: Textile Industry, Automobile Industry, Electrical And Electronics Industry, Other End-Users
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Major companies operating in the caprolactam market report are China Petrochemical Corporation, BASF SE, Mitsubishi Chemical Corporation , Honeywell International Inc., Rhodia S.A., Asahi Kasei Corporation, Hengyi Industries Co. Ltd., Toray Industries Inc., LANXESS Corporation, Alpek S.A.B. de C.V., Grupa Azoty S.A., Luxi Chemical Group, Petroquímica Unigel S.A. de C.V., Highsun Holding Group, Ube Industries Ltd. , Shenma Group Co. Ltd. , AdvanSix Inc., Vtg Tanktainer Inc., Brueggemann Chemical Inc., SGL Carbon SE , Shandong Xinlong Group Co. Ltd., Leschaco Inc., The Aquafil Group, Nanning Chemical Industry Group Co. Ltd., Shandong Linyi Jinyu Chemical Co. Ltd., Capro Corp. , Spolana s.r.o., DOMO Caproleuna, Jiangsu Yisheng Chemical Co. Ltd.
Contents of the report:
1. Executive Summary
2. Caprolactam Market Report Structure
3. Caprolactam Market Trends And Strategies
4. Caprolactam Market - Macro Economic Scenario
5. Caprolactam Market Size And Growth
…..
27. Caprolactam Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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