Press release
Caprolactam Market to Surpass $22.84 Billion by 2029 | Key Trends & Insights
Caprolactam
How Will the Caprolactam Market Grow by 2025 in Terms of Size and Growth?
The size of the caprolactam market has been witnessing gradual growth over recent years. The market value is set to increase from $16.5 billion in 2024 to $17.19 billion in 2025, indicating a compound annual growth rate (CAGR) of 4.2%. This growth during the historic period is driven by factors such as the expansion of the textile industry, consumer goods production, novel applications in nylon, synthetic fiber usage, automotive sector demand, and upscaling of manufacturing facilities.
What Are the Estimated Growth Rates for the Caprolactam Industry Through 2029?
The market size of caprolactam is anticipated to experience substantial growth in the coming years. A 7.4% compound annual growth rate (CAGR) is expected to bring its value to $22.84 billion by 2029. Factors such as increased demand for nylon 6, growth in burgeoning markets, rising demand for engineering plastics, e-commerce packaging, and strict emission standards are instrumental in this forecast growth. Key trends for this period include eco-friendly production techniques, bio-based caprolactam, e-commerce packaging, advancements in production technology, and automobile weight reduction trends.
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What Are the Strategic Drivers Boosting Caprolactam Market Performance?
The expansion of the automotive industry is predicted to contribute to the increase in growth of the caprolactam market. The said industry is made up of businesses engaged in the conceptualization, production, and selling of motor vehicles and their associated parts. The trend towards more eco-friendly, fuel-efficient cars has spurred the use of nylon 6 in vehicles to lessen their weight and fuel usage. For example, the India Brand Equity Foundation, an export promotion agency backed by the Indian government, forecasts that vehicle production will reach 22.93 million units in India come 2022. As a result, the development of the automotive industry is fueling the caprolactam market's growth.
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What Are the Segments in the Caprolactam Market?
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
Subsegments:
1) By Phenol: Phenol Derivatives, Phenol-Based Intermediates
2) By Cyclohexane: Purified Cyclohexane, Cyclohexane Mixtures
3) By Hydroxylamine Sulfate: Hydroxylamine Hydrochloride, Hydroxylamine Sulfonic Acid
4) By Other Raw Materials: Aniline, Acetic Acid, Formaldehyde
What Are the Key Adoption Trends in the Caprolactam Market?
Major players in the caprolactam arena are zeroing in on the introduction of new products to consolidate their market standing. For example, in March 2022, a German-based firm that specializes in engineered material solutions and a fully integrated PA6 producer, DOMO Chemicals, reported the successful shipment of 5 million metric tons of caprolactam at its Leuna location. The yearly capacity of the site has escalated to 176,000 metric tons, courtesy of enhancements in efficiency that have reduced medium-pressure steam energy consumption by 30% and low-pressure steam energy consumption by 40%. DOMO's central strategy revolves around sustainability, with its DOMO Beyond initiatives aiming for a 15% dip in carbon intensity and a 7% decline in waste by the year 2030.
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Which Companies Lead the Competitive Landscape of the Caprolactam Industry?
Major companies operating in the caprolactam market include 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., Shandong Xinlong Group Co. Ltd., 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.
Where Are the Key Caprolactam Market Opportunities by Region?
Asia-Pacific was the largest region in the caprolactam market in 2024. North America was the second-largest region in the caprolactam market share. The regions covered in the caprolactam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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