Covid-19 Analysis Caprolactam Market: Growth, Share and Size by 2022

06/nov/2020 13:45:17 Tejas Amale Contatta l'autore

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The global caprolactam market is predicted to garner USD 14.9 billion by 2019, grabbing a CAGR of 8.1% during the forecast period 2019 to 2022

Caprolactam Market- Regional Analysis

Geographically, the global caprolactam market has been segmented into North America, Europe, and Asia Pacific. APAC market holds a remarkable share in caprolactam production. China is likely to witness a sharp increase in the caprolactam production owing to the installation of new and updated capacities. The introduction of new capacities is anticipated to curtail caprolactam prices over the forecast period. The Chinese producers are struggling to offload their high inventories, which is leading to week-on-week lower offers. Additionally, consumers in China are gradually opting for the domestic market to meet their inventory requirements in view of the fluctuating US dollar-Chinese yuan exchange rates. However, China’s environmental policies are imposing emission control measures which is likely to restrict the caprolactam market to a certain extent. The Asia-Pacific market is followed by Europe. Europe market registers growth owing to the increasing demand for apparels in the market. The North America market has been recording sluggish growth over the forecast period.

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Caprolactam Market: Overview

The worldwide caprolactam market is likely to generate USD 14.9 billion by 2019. The market is expected grow at a CAGR of 8.1% from 2016 to 2022. Caprolactam is an organic compound. This colorless solid is a cyclic amide or a lactam of caproic acid. Caprolactam is a medium primarily used in the production of resins and nylon 6 fibers. Caprolactam is majorly consumed in the production of nylon fibers for carpet, industrial yarns, and textile. Besides, it finds wide applications in films and engineering resins. Nylon 6 textile fibers can be combined with elastane/spandex fibers to create good stretch-fit properties. Nylon 6 finds application in industries such as sportswear, apparel, hosiery, swimwear, casual, and fashion wear. Rugs and carpets made from nylon are available in many structures, styles, patterns, and colors. They provide good abrasion and wear properties. Nylons are easy to clean and stain resistant. The fibers can also be recycled back to caprolactam.

Furthermore, nylon cords are used in heavy duty bias tires for bus and truck, off-the-road, industrial, and agricultural purposes. Nylon offers durable and strong properties coupled with high fatigue resistance making it apt for heavily loaded carriages. It is also used in industrial fiber for manufacturing ropes, fishing lines, tarpaulins, and nets. Caprolactam finds wide application during the production of nylon 6 resins and nylon 6 fibers. Nylon 6 fibers and nylon 6 resins account for more than 97% of the total caprolactam manufactured throughout the world. Moreover, Nylon 6 has excellent elasticity and strength. Nylon 6 comes with damage resistance from oils, abrasion resistance, and chemical resistance. The benefits have surged the usage of nylon 6 in an extensive range of applications across the automotive, electrical, textile, and electronics industries. Nylon is high-temperature resistant and can be dyed with the desired color for enhancing visual appeal. With the increasing industrial importance of nylon, the global caprolactam market is expected to witness substantial growth over the forecast period.

However, the adverse environmental impacts of caprolactam is likely to influence the global caprolactam market negatively.

Caprolactam Market: Competitive Dashboard

The prominent players operating the global caprolactam market comprises-

  • Shandong Haili Chemical Industry Co. Ltd.
  • Sumitomo Chemical Company Limited
  • Honeywell International Inc
  • UBE Industries
  • Lanxess Ag
  • China Petrochemical Development Corporation (CPDC)
  • Kuibyshevazot Ojsc
  • China Petroleum & Chemical Corporation (Sinopec Limited)
  • Royal DSM N.V

Industry Updates

January 23, 2018: Genomatica and Genomatica have recently declared a multi-year agreement in order to create caprolactam, which is a prime ingredient to produce 100 percent sustainable nylon. The collaboration aims towards developing commercially-advantageous bioprocess In order to make caprolactam using plant-based renewable ingredients.

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Market Segmentation

The global caprolactam market has been segmented on the basis of source and end-use.

By Mode of Source , the global caprolactam market has been segmented into toluene, phenol, and cyclohexane.

By Mode of End-Use , the global caprolactam market has been segmented into textile stiffeners, textile yarns, synthetic leather, film coatings, plasticizers, plastics, and others. Among these, the segment for textile yarns is estimated to command a major share in the global market. The growth is ascribed to the surging demand for textile yarn and the use of nylon 6 fibers in upholstery, bedspreads, carpets, and curtains. Textile yarn is used in several applications such as house furnishing and apparel which is likely to create a positive impact in the long run.

NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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