Caprolactam Market

Caprolactam Market Outlook (2023 to 2033)

The global caprolactam market stands at US$ 15.6 billion in 2023, according to a newly published research report by Fact.MR. Worldwide demand for caprolactam is predicted to accelerate at a CAGR of 4% and reach a market value of US$ 23.1 billion by 2033-end.

Growing demand for nylon clothing, especially in the sports sector, is projected to generate demand for caprolactam in the coming decade.

• Nylon 6 fibers are used extensively and account for 60% of global utilization of caprolactam in 2023.

Moreover, sales of caprolactam are also rising owing to the increased demand for nylon 6 resins in film production.

Caprolactam is used extensively in the production of nylon 6 and is an intermediate compound. Further, nylon 6 fiber is used to make different types of clothing, including jackets, swimwear, track pants, pantyhose, and some other hosiery clothes.

• Demand for caprolactam in the United Kingdom is predicted to rise at a CAGR of 3.5% through 2033.
• Sales of caprolactam in Japan are projected to advance at 2.8% CAGR from 2023 to 2033.

In recent years, the need for bio-based caprolactam that is used in engineering films and plastics is increasing. Moreover, the use of caprolactam for the production of lightweight automotive vehicles is expected to drive opportunities for players in the coming decade. Expansion of the electronics and automotive industries is positively influencing the demand for caprolactam.

Growing demand for plastics in the electrical, construction, automotive, and electronics sectors is also boding well with market expansion. Several governments implemented stringent regulations against fuel economy and vehicle emissions. The caprolactam space is expanding with the implementation of these regulations.

Nylon 6 offers fuel efficiency through lower fuel emissions and weight reduction. Government regulations compelled automotive OEMs (original equipment manufacturers) to increase the use of lightweight materials, including nylon resins.

Government regulations ensure the production of lightweight vehicles to comply with stringent regulations for environmental safety. Nylon 6 is a polymerization product that comes with multiple properties, including abrasion resistance, stiffness, moisture absorption, high thermal resistance, strength, etc. Furthermore, increasing R&D activities that concentrate on recycling caprolactam are predicted to offer lucrative opportunities for industry players.

Fact.MR, a market research and competitive intelligence provider, in its newly published research report, offers detailed insights about the dynamics of the caprolactam space. Growth driving factors, key limitations, country-level analysis, new launches, etc. are covered in the report.

Report Attributes	Details
Caprolactam Market Size (2023)	US$ 15.6 Billion
Forecasted Market Value (2033)	US$ 23.1 Billion
Global Market Growth Rate (2023 to 2033)	4% CAGR
United States Market Growth Rate (2023 to 2033)	3.7% CAGR
China Market Growth Rate (2023 to 2033)	3.3% CAGR
South Korea Market Growth Rate (2023 to 2033)	2.5% CAGR
Market Share of Nylon 6 Fibers (2023)	60%
Key Companies Profiled	BASF SE LANXESS Honeywell International Inc. China Petroleum & Chemical Corporation Toray Industries Fibrant Capro Co. UBE Corporation Kuibyshevazot DSM Sumitomo Chemical Company Limited China Petrochemical Development

What’s Paving the Way for Suppliers of Caprolactam?

“Growing Demand for Lightweight Automobiles”

Worldwide sales of caprolactam are increasing due to the high demand for lighter automobiles. End-use sectors are boosting the demand for bio-based caprolactam for engineering films and plastics. Various governments around the world implemented stringent regulations on fuel economy and vehicle emissions. Rigorous environmental requirements that are imposed in the automotive sector enhance business opportunities.

Nylon 6 as a polymerization product provides greater fuel economy through reduced fuel emissions and weight reduction features. These standard regulations stimulated car manufacturers to increase their use of different sophisticated lightweight materials, including nylon resins to manufacture lighter vehicles.

“Emphasis on Innovation Driven by Demand for High-quality Textiles”

At present, the world is undergoing significant changes owing to technological advances with the rising use of AI (artificial intelligence) and big data. Trends in various industries, including automobiles, chemicals, and textiles are changing. Debouching end-user trends along with favorable policies are generating upswings for multiple specialty products. There is a significant increase in demand for high-quality textiles that can be used in the production of sportswear, clothing, carpets, etc.

Caprolactam is extensively used in the textile sector because of its superior abrasion as well as chemical resistance and high tensile strength. Therefore, rising demand from multiple end-use industries and changing consumer trends are driving market opportunities for suppliers of caprolactam.

What Challenges are Projected to Slow Down Caprolactam Sales?

“Lack of UV Resistance and Melting Susceptibility of Caprolactam”

Caprolactam is fire-resistant but can melt easily. In addition, it can contract easily and respond quickly to moisture and thus enable stretch. Caprolactam is hygroscopic and therefore collects moisture from the environment easily. When exposed to moisture, nylon tends to expand, leading to rapid deterioration.

Several components of caprolactam should not be exposed to fasteners, just like synthetic fibers, which include sunlight exposure. Caprolactam lacks UV resistance and can turn yellow irrespective of its color, degrade swiftly, and become brittle.

What Market Prospects Await New Caprolactam Manufacturers?

“Rising Construction Activities and Renewable Energy Investments”

The industry is poised to expand at a significant pace in the coming decade owing to the optimistic future of the construction industry that is generating demand for caprolactam in economies in transition, including Indonesia and India. Further, the upgradation of old infrastructure across developed countries and investments in renewable energy are generating opportunities for start-ups.

Country-wise Insights

Why are Caprolactam Manufacturers Attracted to the United States?

“Extensive Utilization of Caprolactam Films & Coatings”

The United States market is projected to expand at a 3.7% CAGR from 2023 to 2033.

The country produces caprolactam at a significant rate. Demand for lightweight materials for automotive vehicles and a significant increase in applications of films and coatings are generating opportunities for players. However, constant changes and stagnancy in trade policies are estimated to lead to slow growth.

Which Countries in Asia Pacific are Lucrative Markets for Caprolactam Producers?

“Rapid Industrialization Leading to Establishment of New Automotive and Appliance Manufacturing Plants”

Demand for caprolactam in China is predicted to advance at 3.3% CAGR and reach a market size of US$ 1.61 billion by 2033.

Rapid industrialization in China and India is leading to the establishment of various automotive and appliance manufacturing plants. In addition, increasing demand for passenger cars in India and China is also contributing to market expansion as demand for nylon increases. In addition, a significant expansion of numerous end-use industries, including electronics, construction, automotive, etc. is also leading to increased sales of caprolactam in the abovementioned markets.

Which Country in Europe is Attracting the Attention of Caprolactam Manufacturers?

“Increased Production of Caprolactam in the United Kingdom”

The United Kingdom market is predicted to advance at a CAGR of 3.5% and reach a valuation of US$ 904 million by 2033-end. The country is one of the prominent manufacturers as well as exporters of caprolactam around the world which is generating opportunities for players.

Category-wise Insights

Which Caprolactam Product is Exhibiting High Demand?

“High Usage of Nylon 6 Fibers in Automotive Sector”

Nylon 6 fibers hold 60% share of the global market for caprolactam in 2023.

Nylon 6 fibers and nylon 6 resins are two segments of the global market, based on product. Between these two, demand for nylon 6 fibers is projected to increase due to its extensive use, including sleeping bags, ropes, threads, racket strings, curtains, bedsheets, sportswear, raincoats, toothbrushes, etc. Nylon 6 fiber is produced with the use of caprolactam derived from sulfuric acid, ammonia, and some other chemicals.

The automotive sector incorporates nylon polymers into louvers, wheel covers, and various other exterior body components. It is also used in the manufacturing of bearings, gears, fittings, pollution control canisters, power steering fluids, and fan blades. Thus, the growing application of caprolactam is predicted to favor market expansion.

Which End-use Sector is Forecasted to Expand Rapidly in This Space?

“Extensive Use of Nylon Fabrics in Textile Industry for Their High Tensile Strength and Heat Resistance”

Construction, textiles, automobiles, and plastics are some prominent sectors that are fueling demand for caprolactam globally. Among these, the textile sector is predicted to contribute a significant share of market revenue. Textile yarns are used extensively in various applications, including home furnishings and clothing, etc. In the coming decade, rising demand for textile yarns along with the use of nylon 6 fibers in carpets, curtains, upholstery, bedspreads, and nylon production are projected to favor business growth.

Heat resistance, scrub resistance, flexibility, and high tensile strength are some key features of nylon fabrics that are projected to benefit market growth. Packaging apparel, cables, ropes, mechanical rubber goods, engineering plastics, and conveyor belts are a few products that require nylon fabrics for their manufacturing.

Key Market Players

Market players are investing heavily in ensuring quality control for products, maintaining product standards, and strengthening their systems adopted for supply chain management.

Agreements, partnerships, and collaborations are some strategies that are incorporated by players to get a competitive edge.

For instance:

• Highsun Group, in May 2022, signed an agreement with Nexeo Plastics for the distribution of nylon resins across America.
• Aquafil and ITOCHU, in March 2022, announced their partnership to expand their business of nylon circular through partnerships.
• Toray Industries Inc., in March 2022, announced its eco-friendly textile, which consists of Toyoflon. This is gaining popularity as low-friction polytetrafluoroethylene fiber.

Prominent companies in the caprolactam market include BASF SE, LANXESS, Honeywell International Inc., China Petroleum & Chemical Corporation, Toray Industries, Fibrant, Capro Co., UBE Corporation, Kuibyshevazot, DSM, Sumitomo Chemical Company Limited, and China Petrochemical Development.

Segmentation of Caprolactam Industry Research

• By Product :

  • Nylon 6 Fibers
  • Nylon 6 Resins

• By End Use :

  • Construction
  • Textiles
  • Plastics
  • Automobiles

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa