Caprolactam Market is predicted to reach USD 25.77 Billion at a CAGR of 5.80% during the forecast period 2023-2030

Pune, India, Sep 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Caprolactam  Market.

Market Synopsis

The Caprolactam Market Size was valued at USD 16.41 Billion in 2022 and is projected to grow from USD 16.89 Billion in 2023 to USD 25.77 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.80% during the forecast period (2023 - 2030).

The chemical compound caprolactam has the formula (CH2)5CNH. It is a colorless solid lactam of caproic acid. Caprolactam is a chemical compound that is largely utilized in the production of synthetic textiles (especially Nylon 6). Brush bristles, textile stiffeners, film coatings, synthetic leather, plastics, plasticizers, paint vehicles, cross-linking for polyurethanes, and lysine synthesis are all examples of caprolactam's applications.

Competitive Landscape

The players in this market have shown an aggressive approach towards expansion and increasing production capacities because the key players aim to capture the large consumer base of the textile and packaging sector. The players operating in the global caprolactam market are focusing on adopting various strategies such as capacity expansion, investment, and several organic strategies to maintain their market dominance and expand their global presence

The global Caprolactam market is characterized by the presence of global, regional, and local players, which are segregated into BASF SE (Germany), Honeywell International Inc (US), Kuibyshevazot (Russia), China Petroleum & Chemical Corporation (Sinopec Limited) (China), LANXESS (Germany), DSM (Netherland), Toray Industries (Japan), Sumitomo Chemical Company Limited (Japan), UBE Industries (Japan) and China Petrochemical Development Corporation (China). The global market remains fragmented with the majority of tier-1 players, including BASF SE, Honeywell International Inc, Toray Industries, LANXESS, Sumitomo Chemical Company Limited hold the largest share of the global caprolactam market. The global market for caprolactam is anticipated to grow at a healthier CAGR during the forecast period, owing to the increasing demand from the packaging and textile industries.

Segmentation

By Source

• Phenol: Phenol is the main raw materials used for the manufacturing process of caprolactam. Phenol is a colourless crystal which exhibits pink color in the air due to being oxidized in a small part. It is toxic, corrosive, and partially soluble in water at room temperature, and easily soluble in alcohol and other organic solvents such as aromatic compounds, ketones, amine etc. It can be completely soluble in water when the temperature is higher than 65 ℃. It is also called phenolic acid.


• Toluene: Toluene is rich in resources and various manufacturers used toluene as a raw material for caprolactam due to low production cost. In this process, toluene reacts with cobalt oxide catalyst to generate benzoic acid which will react with palladium catalyst to obtained hexahydro benzoic acid, this acid reacts with nitrosyl sulfuric acid to produce caprolactam.


• Cyclohexane: Cyclohexanone is the second main raw materials used for the production of caprolactam. Cyclohexanone is colourless and odorless transparent liquid with mint and acetone odour which is partially soluble in water and fully soluble in ether, alcohol and other organic solvents. It has wide range of applications in the textile and packaging industries. It is colourless and odorless transparent liquid with mint and acetone odour. It is mainly used as the intermediates of caprolactam and others diacids and their salts due to its strong solubility, low toxicity and relatively low price.

By End Use

• Textile Yarn: Textile industry used nearly 68% of caprolactam product for the manufacturing process of nylon fibres which are further used in the production of textile, carpets, and industrial yarns, films and engineering resins. Henceforth, the rising demand for caprolactam in textile industry is likely to fuel the growth of the market during the forecast period.


• Textile Stiffeners: The textile stiffener acts as a finishing agent in textile industry which was used to provide stiffness in the fabric. These stiffeners can remain stiff for a long storage period and does not loose stiffness even if the relative humidity is high. They are mostly used for finishing inter-lining fabrics. Caprolactam is commonly used in production of brush bristles, textile stiffener, paint vehicles, cross-linking for polyurethanes, and lysine (synthesis).


• Film Coatings: The coating powders used in the preparation of protective films is a combination of a caprolactam-blocked organic polyisocyanate and a hydroxy-containing polyester or a hydroxy-containing acrylic or methacrylic polymer. The proportions of the caprolactam-blocked organic polyisocyanates and the hydroxy-containing polyesters in the mixture are 0.8 to 1.20 blocked isocyanate groups which are used for coating the protective films.


• Synthetic Leather: Synthetic leather is a type of material which act as a substitute of leather. This material is widely used in clothing, footwear, and other application.This segment held a market size of USD 956.62 million in 2020 in the global caprolactam market. The blocks segment is projected to reach USD 2,269.62 million by the end of 2028, with a 11.24% CAGR during the forecast period.


• Plastics: Plastic is made up of hydrogen and carbon atoms that is closed cell, extremely lightweight, and resilient. It is widely used in areas of high moisture exposure and high R-value requirements. The caprolactam material is majorly used in packaging industry for moulded plastic parts and packaging films. Engineering plastics such as Durethan or cast nylon plays a crucial role in the growth of caprolactam market.


• Plasticizers: Caprolactam is used in the production process of plasticizers. Plasticizers is a type of additives that are added to polymers such as rubber and plastics to enhance their processibility. The raw materials used are linseed oil, Caprolactam liquid, soyabean oil, sunflower oil, palm oil, and castor oil. Plasticizer reduces the glass transition temperature of the polymer they are blended with and thus creates semi-rigid or flexible products with improved processing properties. The use of these plasticizers enables manufacturers to reduce carbon gas emissions, adding to the growth of the segment.


• Others: The others segment includes spreads, cylindrical, cubes, slices, shreds, grated, sticks, spray, and others. The different forms of caprolactam products are customized depending on the diversification and economic feasibility among competitors.

By Region

• North America: The North America Caprolactam market is witnessing a high growth due to growing demand from the automotive and consumer goods segments. The report estimates the size of the Caprolactam market, both in terms of volume and value.


• Europe: Gin erman companies, Increasing use of nylon-based products in the automotive industry for making lightweight automobile scaffolds to low lower fuel emissions is expected to drive revenue growth of the caprolactam market in Europe.


• Asia-Pacific: Asia-Pacific has emerged as the leading consumer and producer of caprolactam. The Asia-Pacific region is witnessing increased demand for luxury cars due to the increase in purchasing power of consumers. This has led to increased polyamide 6 demand in the region, which, in turn, is driving the nylon 6 engineering plastics segment. Prices for caprolactam are expected to rise in the APAC region due to anti-dumping sanctions imposed by the Government of China. These factors are further driving the demand for caprolactam in the region.


• Latin America: Latin America is expected to show moderate growth in the market due to social and economic instability in the region.


• Middle East & Africa: : The countries covered in Middle East and Africa Refractories market report are South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel and rest of Middle East and Africa.