Press release
Emerging Sub-Segments Transforming the Caprolactam Market Landscape
Caprolactam Market
Caprolactam Market Size Forecast Through 2030
The caprolactam market is projected to reach a value of $24.38 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.2%. This upward trend is fueled by the increasing need for materials that combine lightweight properties with durability, particularly in the automotive sector. The rising use of nylon in electric vehicle components, the advancement of circular polymer projects, and a surge in electronics applications also contribute significantly. Additionally, investments aimed at producing sustainable nylon are bolstering market growth. Noteworthy trends include an increasing demand for nylon 6 engineering plastics, expanded use in lightweight automotive parts, broader adoption in high-performance textile fibers, progress in caprolactam recycling programs, and improvements in nylon manufacturing efficiency.
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Prominent Companies Influencing the Caprolactam Market
Several influential corporations dominate the caprolactam market, including China Petrochemical Corporation, BASF SE, Mitsubishi Chemical Corporation, 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, and Jiangsu Yisheng Chemical Co. Ltd.
In a notable development in September 2023, Toray Industries, a Japanese materials manufacturer, partnered with Honda Motor Co., Ltd. to jointly explore chemical recycling technologies for nylon 6 automotive components. Their goal is to establish a closed-loop recycling system that converts end-of-life nylon 6 parts back into raw materials for new vehicle production. This initiative supports reduced CO? emissions, enhances resource use efficiency, and promotes sustainable manufacturing within the automotive sector. Honda, also based in Japan, is strongly committed to eco-friendly innovation and decarbonizing its global supply chain.
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Key Drivers Shaping the Future of the Caprolactam Market
Strategic partnerships among leading companies are increasingly prominent, aimed at product innovation and strengthening market footholds. Collaborative efforts enable the sharing of expertise, resources, and technology, which boosts innovation, production efficiencies, and market expansion opportunities.
A case in point is the September 2023 collaboration between Toray Industries and Honda Motor Co., focused on developing chemical recycling technology specifically for glass-fiber reinforced nylon 6 parts sourced from end-of-life vehicles. This technology employs subcritical water to depolymerize nylon 6 components, effectively regenerating caprolactam, a vital raw material. Supported by the Ministry of the Environment's 2023 project on decarbonized circular economy systems, this partnership plans to build a pilot plant capable of processing 500 metric tons of raw resin annually for validation. The initial phase targets recycling automotive plastic parts, with the intention to expand this technology for broader automotive resin recycling by approximately 2027.
Detailed Market Segmentation Overview for Caprolactam
This report breaks down the caprolactam market into key segments for a detailed understanding:
1) By Raw Material:
- Phenol
- Cyclohexane
- Hydroxylamine Sulfate
2) By Application:
- Nylon 6 Filaments
- Textile Yarn
- Nylon 6 Fibers
- Engineering Plastics
- Other Applications
3) By End-User Industry:
- Textile Industry
- Automobile Industry
- Electrical and Electronics Industry
- Other End-Users
Further subcategories include:
- Phenol-based products like Phenol Derivatives and Phenol-Based Intermediates
- Cyclohexane types such as Purified Cyclohexane and Cyclohexane Mixtures
- Hydroxylamine Sulfate forms including Hydroxylamine Hydrochloride and Hydroxylamine Sulfonic Acid
This segmentation helps outline the diverse raw material sources, application sectors, and industries leveraging caprolactam, illustrating the market's complexity and broad usage.
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