In a rapidly developing global marketplace, remaining informed about key markets is pivotal to ensuring competitiveness and growth. For stakeholders in the synthetic fiber industry, understanding the dynamics of the global caprolactam market, a vital precursor chemical for high-demand Nylon 6, is particularly crucial.
Our comprehensive market research report offers invaluable insights into factors affecting this vital industry sector. Its analysis underlines the potential for significant growth despite recent disruptions in the global supply chain. The report goes beyond simplistic growth projections and explores the role of caprolactam in driving the production capacities of Nylon 6. It also delves into the potential market challenges and opportunities presented by caprolactam's toxic properties and its substitutes.
Rich in data, this report offers thorough geographical breakdowns, revealing the Asia-Pacific region as a major global player. In addition, the report highlights current trends, including increasing demand in the textile and carpet industry. Armed with this research report, you will possess the knowledge and confidence to make informed decisions and gain a competitive edge in the vibrant caprolactam market.
Due to the outbreak of COVID-19, the caprolactam market was negatively impacted. Owing to the lockdown in various countries across the world, there were supply chain constraints that significantly obstructed the expansion of the industry. However, the market recovered last year, and it is expected to grow at a significant rate in the coming years.
- Over the short term, the growing production capacity of Nylon 6 is the major driving factor favoring the market's growth.
- On the flip side, the toxicity of caprolactam and the presence of substitute products for Nylon-6 will likely hinder the market growth.
- Increasing focus on recycling caprolactam will likely act as an opportunity over the forecast period.
- Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China, India and South Korea.
Caprolactam Market Trends
Increasing Demand for Textile and Carpets
- Caprolactam is the monomer for the production of a chemical fiber called Nylon 6, which is extensively used in the textile industry to produce non-woven fabrics.
- Fabric made from nylon 6 is colorful and lightweight, and strong and durable. It can be easily dyed at normal atmospheric pressure and produces bright and deep shades. Fabrics, such as chiffon and organza, owe their luster and translucent appeal to nylon 6.
- Carpet fiber made from nylon 6 resin is durable, resilient, and colorfast. Nylon 6 offers a great range of colors and design options to carpet manufacturers. Furthermore, carpets made from nylon 6 are resistant to abrasion, wear and tear, and crushing and matting while granting long-lasting performance to the end product. Nylon 6 is the most durable and versatile fiber used to manufacture carpets.
- In the global textile industry, chemical fiber accounts for the major share accounting for more than 77% of the total production volume of textile fiber in the year 2021.
- As per the Industrievereinigung Chemiefaser (German Chemical Fiber Industry Association) in the year 2021, the total global production volume for chemical fibres was 88.2 million metric tons, registering an increase of around 9% as compared to the year 2020.
- Furthermore, the global production of synthetic chemical fibers (nylon 6, polyamide, etc) increased by 9.2% in the year 2021 and reached 80.9 million metric tons.
- The textile industries of European countries such as Germany, Spain, France, Italy, and Portugal are valued at around one-fifth of the global textile industry registering a value of around USD 160 billion.
- Owing to its properties the demand for nylon 6 from the textile and carpet industry is observing a continuous increase and is likely to favour the market studied over the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominates the global market with the highest share of almost 70%. With the growing textile industry in countries like China and India, the consumption of caprolactam is increasing in the region.
- China is the largest producer of nylon 6 worldwide. Some of the largest manufacturers of nylon 6 in China are Guangdong Xinhui Meida Nylon Co Ltd, BASF (China) Co. Ltd, Liheng (Changle) Polyamide Technology Co. Ltd, etc. In terms of GDP, China is the second-largest economy in the world.
- As per the Chinese Ministry of Industry and Information Technology, China’s textile exports from January to October 2022 grew 6.9 % year on year (YoY) and reached USD 125.7 billion. Moreover, the combined operating revenue of the major Chinese textile enterprises increased by 1.6 % YoY to CNY 4.28 trillion (~ USD 611.65 billion) during the January-October 2022 period.
- According to the WTO (World Trade Organization), India is the third-largest textile manufacturing industry. In India, the production of fabric from the decentralized sector of the country was recorded as 74.27 billion sq. m. in 2020 and the overall production was registered at more than 76.29 billion sq. m. According to IBEF, the Indian textiles market is expected to reach USD 209 billion by 2029, which will further boost the demand for the market from textile sector.
- Other countries such as Vietnam, Taiwan, and Bangladesh enjoy a prominent share in the textile industry and are expected to upsurge the demand for caprolactam at a high pace over the forecast period.
- Along with textile industry, caprolactam also has significant demand from industrial yarn, and resin and films which are majorly used in the automotive industry.
- As per the Organisation Internationale des Constructeurs d'Automobiles (OICA) the automotive industry in the Asia-Pacific increased by 6% and reached to 46,732,784 vehicles.
Caprolactam Market Competitor AnalysisThe global caprolactam market is fragmented, and the top five players account for around 35% share (in terms of production capacity) in the global market. Key players in the market include (not in any particular order) China Petrochemical Development Corporation, Fibrant, BASF SE, Capro Co., and UBE Corporation.
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Table of Contents1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Production Capacity of Nylon 6
4.2.1 Toxicity of caprolactam
4.2.2 Presence of substitute products for Nylon-6
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION (Market Size in Volume)
5.1 Raw Material
5.2 End Product
5.2.1 Nylon 6 Resins
5.2.2 Nylon 6 Fibers
5.2.3 Other End Products
5.3.1 Engineering Resins and Films
5.3.2 Industrial Yarns
5.3.3 Textiles and Carpets
5.3.4 Other Applications
5.4 End-user Industry
5.4.4 Other End-user Industries
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.5.2 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.5.4 South America
18.104.22.168 Rest of South America
5.5.5 Middle-East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AdvanSix Inc.
6.4.2 Alpek S.A.B. de CV
6.4.3 BASF SE
6.4.4 Capro Co.
6.4.5 China Petrochemical Development Corporation
6.4.6 China Petroleum & Chemical Corporation (Sinopec)
6.4.7 Domo Chemicals
6.4.8 Fertilisers And Chemicals Travancore Limited (FACT)
6.4.10 Fujian Jinjiang Petrochemical
6.4.11 Juhua Group Corporation
6.4.13 PJSC Kuibyshevazot
6.4.14 Shandong Haili Chemical Industry Co. Ltd
6.4.15 Sumitomo Chemical Co. Ltd
6.4.16 Toray Industries Inc.
6.4.17 UBE Corporation
6.4.18 Xuyang Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Focus on Recycling Caprolactam
7.2 Other Opportunities
A selection of companies mentioned in this report includes:
- AdvanSix Inc.
- Alpek S.A.B. de CV
- BASF SE
- Capro Co.
- China Petrochemical Development Corporation
- China Petroleum & Chemical Corporation (Sinopec)
- Domo Chemicals
- Fertilisers And Chemicals Travancore Limited (FACT)
- Fujian Jinjiang Petrochemical
- Juhua Group Corporation
- PJSC Kuibyshevazot
- Shandong Haili Chemical Industry Co. Ltd
- Sumitomo Chemical Co. Ltd
- Toray Industries Inc.
- UBE Corporation
- Xuyang Group