The global caprolactam market size was 5,659.0 kilo tons in 2017. Growing utilization of caprolactam in the production of nylon 6 fibers and resins for further utilization in carpets, textiles, industrial yarns, and engineering films is a key factor behind the growth of the global caprolactam industry.
The growing use of caprolactam in the production of nylon 6 resin used in engineering plastics as well as electronic applications is expected to be a prime factor for the market growth. Also, rapid design and increasing production of fuel efficient and less carbon emitting vehicles have shifted the focus of manufacturers towards plastics for steel replacements. The global increase in car ownership along with rapid demand for Nylon-6, due to its heat resistant and lightweight material, has caught the attention of automobile manufacturers. Moreover, to cater to the growing industrial applications, industry leaders such as BASF SE and DSM N.V are following the acquisition and expansion of their raw material facilities such as caprolactam to produce nylon-6. On Sep 2017, BASF made a big move in the nylon-66 chain, with the acquisition of Solvay’s polyamide business. This deal will give greater access to key feedstocks and raw materials such as caprolactam used in the production of Nylon-6.
In 2022, the caprolactam market size was estimated to be worth USD 15.52 billion globally. It is anticipated to increase at a CAGR of 3.8% over the forecast period (2023–2021), reaching USD 21.63 billion by 2031.
In 2017, nylon-6 fiber accounted for the 60.3% of the volume share in the global caprolactam market. Growth in the use of nylon-6 film for food packaging, medical and industrial applications, has subsequently enhanced the global caprolactam market size. Nylon-6 is also the most competitive material for the manufacture of bias-ply tires and has exceptional benefits in comparison to aluminum and nylon-66 when used in automotive sector. High stiffness, strength at higher temperatures, toughness at lower temperatures, and resistance to oils & greases has stimulated the need for nylon-6 fibers in the manufacture of gears, engine covers, and bearings in the transportation sector. Therefore, the growth of the automotive sector will open favorable opportunities for the global caprolactam market growth in the near future.
Textile yarn dominated the global caprolactam market share accounting for 47.2% of the revenues in 2017. Polyamides such as nylon and its intermediates are widely used for manufacturing polymers for spinning applications. These yarns possess brilliant attributes such as excellent dyeability, evenness and mechanical properties including high tensile strength, which offers comfort and convenience to the sport and leisure clothing industry.
Asia Pacific is likely to witness a fast-paced growth at a CAGR of 5.1% in terms of volume. The rise in the economic prosperity of developing countries such as China and India has led to industrialization, thus, giving an exponential growth to the caprolactam market. Also, improving spending capacity on clothes is a significant factor for the growth of the overall market. Asia Pacific is the most dynamic region within the global caprolactam market, with China, Korea, and Taiwan garnering a share of approximately 70% of the Asian demand.
China is the largest consumer of caprolactam and is heavily dependent on imports to cater to the growing demand for polyamides as well as caprolactam. Rapidly increasing merchant and captive demand has transformed the Chinese government’s intention and forced to replace imported caprolactam by the local production and improving margins by expanding existing facilities.
North American and European markets are witnessing sluggish growth over the forecast years. European textile fiber manufacturers’ are constantly losing market share to Asian competitors and clothing designers, which are sourcing products into China, and other Asian economies owing to the presence of cheap labor costs. The continual rise in Chinese production capacity, the possibility of taxes imposition on European imports along with the inability of existing producers to expand the nylon production in Western Europe has been driving the shift of end-use industries to Asian regions.
Key manufacturers in the global caprolactam market are majorly involved in new product innovation and development as well as the expansion of small production facilities. Some of the key players operating in the market include Sumitomo Chemical Company Limited, BASF SE, China Petroleum & Chemical Corporation (Sinopec Limited), Lanxess AG, and Royal DSM N.V.
Caprolactam Market Scope
|Revenue forecast in 2031
|USD 21.63 billion
|CAGR of 3.8% during 2021-2031
|Type, Application, Regions
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|SF SE, Merck KGaA., Fertiliser and Chemicals Travancore (FACT) Ltd., UBE Corporation, Domo Chemicals, LANXESS AG, AdvanSix Inc., Reullei Pharmaceutical Technology Co., Ltd., Fibrant, and Luxi Chemical Group Co., Ltd.(Israel), Biotricity Inc. (US), iHealth Lab Inc. (US), Vivalink (US), Gentag (US).
Key segments of the global caprolactam market
Type Overview (USD Billion)
- Nylon 6 Fiber
- Nylon 6 Resin
Application Overview, (USD Billion)
- Textile yarn
- Industrial yarn
- Engineering Plastics
- Carpet fibers & Staple Fibers
Regional Overview, (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Middle East and Africa