The caprolactam market is expected to grow from USD 13.1 billion in 2018 to USD 17.7 billion by 2027, at a CAGR of 3.2% during the forecast period. The major factors driving the caprolactam market include the need for lightweight vehicles, the growth of films and coatings applications, and the growth of emerging economies.
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The nylon 6 fibers segment is projected to register the higher CAGR in the caprolactam market during the forecast period.
The nylon 6 fibers segment is the largest and fastest-growing application of caprolactam. Nylon 6 fibers are easy to dye, offer deep and bright shades, provide high strength, and are lightweight. These fibers are combined with elastane/spandex fibers to provide good stretch-fit properties. Caprolactam is initially processed to produce polyamide 6 fiber and is then further melted and spun to produce staple, tow, monofilament, and multi-filament form. The fiber has outstanding durability and excellent physical properties. Textile is an area of important end-use for polyamide. The most commonly used polyamide textiles are produced from polyamide 6, polyamide 66, and other co-polyamides. The excellent properties of caprolactam enable the end-product to exhibit pleasant tactical qualities, lighter weight, and higher strength.
APAC is expected to account for the largest share of the caprolactam market during the forecast period.
APAC has emerged as the leading consumer and producer of caprolactam. The easy availability of low-cost labor and raw materials are driving foreign investments, which is increasing the production of caprolactam in the region. APAC is also the fastest-growing caprolactam market.
Major players in the caprolactam market include AdvanSix Inc. (US), Alpek S.A.B. de C.V. (Mexico), The Aquafil Group (Italy), BASF SE (Germany), Capro Co. (South Korea), China Petrochemical Development Corporation (Taiwan), Domo Chemicals (Germany), Grupa Azoty (Poland), Gujarat State Fertilizers & Chemicals Limited (India), Highsun Group (China), KuibyshevAzot PJSC (Russia), Lanxess AG (Germany), Luxi Chemical Group Co., Ltd. (China), China Petroleum & Chemical Corporation (Sinopec) (China), Spolana (Czech Republic), Sumitomo Chemical Co., Ltd. (Japan), Toray Industries, Inc. (Japan), Ube Industries, Ltd. (Japan), and Zhejiang Hengyi Group Co., Ltd. (China).
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