Caprolactam Market Share, Size, Trends, Industry Analysis Report, By End-Product (Nylon 6 Resins, Nylon 6 Fibers, and Others); By Application (Industrial Yarns, Engineering Resins & Films, Textiles & Carpets, and Others); By End-Use (Textile, Carpet, Automotive, and Others), By Regions, Segments & Forecast, 2019 – 2026
The Global Caprolactam Market is expected to grow at a CAGR of 4.7% during the forecast period 2019-2026. As per the analysis, the global market was valued at $19.5 billion in the year 2018 and is anticipated to reach $28.2 billion by the end of the year 2026.
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Caprolactam is a primary raw material used in the production of nylon 6 fibers and 6 engineering resins. The global Caprolactam market is majorly driven by end-use industries such as wire and cabling, specialty film packaging, engineering plastics, electrical and electronics, textiles, automobiles and others. The increasing demand for plastics in the electrical and electronic sectors, automotive and construction sector is expected to bolster the market growth over the forecast period. The key properties of Caprolactam are low moisture retaining, abrasion resistance, elasticity and high strength.
Automobile industry use Caprolactam in bearings, gears, tire cord manufacture and engine covers owing to its attractive properties. Although, the automotive industry estimated to witness no growth in the year 2020 and predicted to follow the same trend in the year 2021. Center for Automotive Research (CAR) of Germany estimated that the global automobile sales will fall by 5% to 78.8 million units in the year 2019, and expected to fall to 78 million units by the end of the year 2020. But, the marginal decrease in growth of the automotive industry will merely impact the demand of caprolactam in automobiles. Hence, this will support the market growth over the forecast period.
Segmentation Overview of the Global Caprolactam Market
The global Caprolactam market is segmented on the basis of End-Product, Application and End-Use. These market segments are further categorized into various sub-segments to study the market in detail.
The End-Product Segment of the global Caprolactam market is sub-segmented into:
- Nylon 6 Fibers
- Nylon 6 Resins
The Application Segment of the global Caprolactam market is sub-segmented into:
- Industrial Yarn
- Engineering Resins and Films
- Textiles and Carpets
The End-Use Segment of the global Caprolactam market is sub-segmented into:
Geographical Analysis of the Global Caprolactam Industry
On the basis of geographical segmentation, the global Caprolactam market was studied across North America (U.S., Canada); Europe (Germany, UK, France); Asia Pacific (China, India, Japan); Latin America (Brazil, Mexico); Middle East & Africa. As per the analysis, the Asia Pacific region accounted as the largest and fastest region considering the global Caprolactam industry. South Korea, South East Asia, Japan and China are majorly contributing towards the market growth during the forecast period. As per the analysis, China accounted as the largest Caprolactam consumer considering volume in the year 2016. Moreover, Taiwan accounted as third largest Caprolactam consumer after China and Western Europe. However, the prices of caprolactam witnessed a high growth in early 2017, owing to close down of plants in European and North American region.
Market Players Insights
IRPC Public Company Ltd., Royal DSM NV, China Petroleum & Chemical Corp., Honeywell Chemical Intermediates, DOMO Caproleuna GmbH, Capro Corp., China National Petroleum Corp. and BASF SE are some major players included in the research study of the global caprolactam market. The market was analyzed to be highly competitive from nature with high degree of integration across distribution stage, manufacturing and raw material. Market players are adopting various competitive strategies to withhold the market position for the long-term.
Key Topics Covered
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