GLOBAL CAPROLACTAM MARKET ANALYSIS

Global Caprolactam MarketSize and Trends

The global caprolactam market size is estimated at US$ 16,885.6 Million in 2022 and is expected to expand at a CAGR of 6.57% and expected to reach at US$ 28,091.1 Million by 2023-2030.

Nylon 6 fiber and nylon 6 resin have wide applications in automotive and textile industry due to their high tensile strength and superior elasticity. Automakers are focusing on light weighting of vehicles in order to improve fuel efficiency and performance. Thus, metallic parts of automobiles are being rapidly replaced by polyamide 6 and nylon 6 due to high temperature and chemical resistance. For instance, door handles, air bag containers, radiator grilles, relay boxes, air intake manifold and engine cover, among others are manufactured from polyamide 6 or nylon 6. Also, nylon 6 have wide applications in electrical and electronic equipment industry, due to high electrical insulation and low weight as compared to metal tubes, which includes circuit breakers, voltage switchgears, contactors, tubes for wiring & cables protection, connectors, among others. Also, increasing number of women in the workforce, growing westernization, increasing disposable income and growing demand for convenience food across the globe, is expected to fuel demand for Caprolactam market. Nylon 6 is a key constituent in specialty films. The market is expected to gain traction in Asia Pacific due to burgeoning growth of various end-use industries in China and India. As per Coherent Market Insights, the nylon 6 fibers segment accounted for 52.94% revenue share in 2022.

Market Trends

Figure 1. Caprolactam Market-Regional Share, (Revenue in 2022)

Figure 2. Caprolactam Market-Product type, (Volume in 2022) 

Global Caprolactam Market- Impact of Coronavirus (Covid-19) Pandemic

COVID-19 outbreak negatively impacted the caprolactam market. Due to lockdown imposed across the globe, supply chain constraints obstructed the expansion of industry. However, the market recovered last year in 2021 and expected to grow in the upcoming years.