The global caprolactam market size was US$ 12.3 billion in 2021. The global caprolactam market is forecast to grow to US$ 18.8 billion by 2030 by growing at a compound annual growth rate (CAGR) of 5.5% during the forecast period from 2022 to 2030.

Factors Influencing the Market

Caprolactam is widely used in the preparation of nylon. Apart from that, the compound finds wide applications in textile yarn, industrial yarn, engineering plastics, carpet fibers & staples, etc. As a result of these wide applications, the global caprolactam market will grow significantly during the forecast period.

Growing demand for engineering plastics due to their beneficial mechanical and thermal properties will fuel the growth of the global caprolactam market.

Growing industrialization is expected to benefit the global caprolactam market. Furthermore, the rising demand for plastics in the automotive, consumer products, and industrial machinery industries will benefit the global caprolactam market during the study period.

The increasing number of government regulations to curb carbon emissions will soar the demand for lightweight vehicles. As a result, it will escalate the growth of the global caprolactam market during the forecast period.

Volatility in the prices of raw materials may limit the growth of the global caprolactam market during the forecast period.

COVID-19 Impact Analysis

The wake of the COVID-19 pandemic halted all the manufacturing activities due to the terror of the virus. In addition, the automotive industry witnessed a severe downfall, which also impacted the demand for caprolactam. In addition to that, nylon production also fell drastically due to supply chain disruptions, unavailability of raw materials, and a reduction in consumer demand. Thus, it negatively affected the overall caprolactam market.

Regional Analysis

The Asia-Pacific caprolactam market is forecast to emerge as the largest market, owing to the presence of the largest automotive industry in the region. Furthermore, stringent government regulations promoting the development of lightweight vehicles will benefit the caprolactam market in the coming years. In addition, countries like India, China, Malaysia, Indonesia, etc., are witnessing strong economic growth. As a result, it will boost the growth of the Asia-Pacific caprolactam market during the forecast period. The presence of prominent industry players, such as China Petroleum & Chemical Corporation, Toray Industries, Inc., Gujarat State Fertilizers & Chemicals Limited, Highsun Group, etc., will also prompt the growth of this regional market during the analysis period.

Competitors in the Market

AdvanSix Inc.
BASF SE
Alpek S.A.B. de C.V.
The Aquafil Group
Capro Co.
Grupa Azoty
Gujarat State Fertilizers & Chemicals Limited
Highsun Group
KuibyshevAzot PJSC
China Petrochemical Development Corporation
Domo Chemicals
Lanxess AG
Luxi Chemical Group Co., Ltd.
China Petroleum & Chemical Corporation
Spolana
Sumitomo Chemical Co., Ltd.
Toray Industries, Inc.
Ube Industries, Ltd.
Other Prominent Players
Market Segmentation

The global caprolactam market segmentation focuses on Technology, Application, End-Use, and Region.

By Technology Outlook

Hydroxylamine Phosphate Oxine (HPO)
Hydroxylammonium Ammonium Sulfate Oximation (HSO)
Others
By Application Outlook

Nylon 6 Fibers
Nylon 6 Resins
Others
By End-Use Outlook

Textile Yarn
Industrial Yarn
Engineering Plastics
Carpet Fibers & Staple
Fibers
By Regional Outlook

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America