New York, NY -- (SBWIRE) -- 11/19/2018 -- The new report "Caprolactam Market, [By End-Product (Nylon 6 Resins, Nylon 6 Fibers, and Others); By Application (Industrial Yarns, Engineering Resins & Films, Textiles & Carpets, and Others); By End-Use (Textile, Carpet, Automotive, and Others), By Regions]: Market size & Forecast, 2018 – 2026", The caprolactam market is projected to grow from USD 18.60 Billion in 2017 to USD 28.42 Billion by 2026, at a CAGR of 4.8% during the forecast period.

Caprolactam is a feedstock for the production of nylon products. It is widely used in the manufacturing of nylon fibers and resins on account of its excellent characteristics such as elasticity, abrasion resistance, high strength, low moisture absorbency, and chemical & oil resistance.

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Market Players

1. BASF SE
2. China National Petroleum Corp.
3. Capro Corp.
4. DOMO Caproleuna GmbH
5. Honeywell Chemical Intermediates
6. China Petroleum & Chemical Corp.
7. Royal DSM NV
8. IRPC Public Company Ltd.

Caprolactam includes some very significant market drivers concerning the rising demand from the end-use industries. Among many end-uses, rapid growth of automotive and textile industry are the major driving forces for the growth of global caprolactam market.

In the textile industry, product is used for the production of nylon 6 fiber, which has witnessed increased demand in sportswear, swimwear, apparels, and fashion wear. In automotive industry, product is applied in the production of nylon 6 fibers that are increasingly used for engine covers, tire cord manufacture, and gears & bearings due to their superior fatigue resistance, tensile strength, and durability.

Growing global population coupled with the increase in the personal incomes of consumers has resulted in the rapid growth of textile and automobile industry. Consumer preference for modern products such as electric vehicles, and strong economic performance of many middle-income countries in the world has rapidly driven the high product demand among consumers.

Caprolactam includes two major end-use products, nylon 6 fibers and nylon 6 resins. Nylon 6 fibers are the dominant product type due to its large array of applications and excellent properties. Nylon 6 fibers are largely used in carpet, industrial yarns, and textile industries, whereas Nylon 6 resins are primarily used in specialty film packaging, engineering plastics, wires & cables, and automotive industries.

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Caprolactam is manufactured from ammonia, cyclohexane, and phenol. As its raw materials are petro chemically derived from crude oil, the caprolactam prices might witness price volatility. The raw materials production is mainly concentrated in China and the United States. In 2016, the caprolactam witnessed high pricing due to rise in its raw material pricing (benzene and derivatives) and tight supply.

Competitive Landscape and Key Vendors

Asia Pacific is the largest and the fastest regional market for the caprolactam industry. China, Japan, Southeast Asia, and South Korea are the significant contributing nations towards the growth of this regional market. China is the largest consumer of caprolactam, where in 2016 its consumption eclipsed the demand of all other Asian countries.

Taiwan is the third largest country for product consumption after China and Western Europe, however, is anticipated to witness a decline over the forecast period that may impact the overall regional growth. China has excess capacity for caprolactam that is anticipated to drive down the global operating rate for the product.

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