Caprolactam Market Report

Caprolactam Market Analysis By Application (Nylon 6 Fibers, Nylon 6 Resins) By End-Use (Textile Yarn, Industrial Yarn, Engineering Plastics, Carpet Fibers & Staple Fibers) And Segment Forecasts To 2022

Published: July 2016  |  100 Pages  |  Format: PDF  |  Report ID: 978-1-68038-498-7

Industry Insights

Global caprolactam market size was estimated at 4,925.9 kilo tons in 2014. The market is expected to witness substantial growth over the forecast period owing to its widespread use as a feedstock in the production of nylon 6 fibers and resins.

Rising consumption of plastics for automotive, electrical & electronics and construction applications is expected to be a key driver for the industry over the next seven years. However, fluctuating raw material supply is expected to pose as a challenge to the market.

Superior properties including high strength, elasticity, abrasion resistance, chemical & oil resistance, along with low moisture absorbency of nylon fibers and resins is expected to result in high requirement of the product. Growing textile industry particularly in Asia Pacific coupled with upcoming automobile sector is expected to fuel demand over the next seven years.

Continuous R&D resulting in technological breakthroughs for cost-effective manufacturing have been key factors responsible for augmenting growth over the past few years. Regulatory approval from the U.S. EPA and EU for using the product in manufacturing nylon 6 fibers, resins and aminocaproic acid is expected to fuel demand.

Rising disposable income coupled with increasing penetration of players due to new product launches in China and India is expected to promote textile industry growth. Robust manufacturing base of textile industry coupled with growing demand in Germany, Italy, France and UK is expected to drive caprolactam industry growth over the forecast period.

Bio-based caprolactam is expected to be a plausible substitute for its synthetic counterpart. In October 2014, Genomatica, an American biotech company, announced plans to develop enzymatic industrial pathways for manufacturing the product.

Europe caprolactam market by end-use, 2012 - 2022 (Kilo Tons)

Europe caprolactam market

End-use Insights

Textile yarn dominated the global market, accounting for over 45.0% of volume share in 2014. Growing demand for textile yarn for manufacturing apparels, sportswear, fashion wear and swimwear is expected to have a positive impact on the industry over the forecast period.

Industrial yarn was the second largest end-use valued over USD 2.0 billion in 2014. Increasing consumption of industrial yarn for manufacturing cordage, slings, hoses, mechanical rubber goods and geotextiles is expected to result in increasing requirement of the chemical over the next seven years.

Engineering plastics demand exceeded 950.0 kilo tons in 2014. Growth of the automotive industry, particularly in developing economies of China, Brazil and India due to rising disposable income of consumers will accelerate its demand. Development of fabrics industry is expected to result in high consumption over the next seven years.

Application Insights

Nylon 6 fibers accounted for a significant share, generating revenues exceeding USD 5.80 billion in 2014. These fibers are employed in the production of food packaging material, textiles and electrical cables. Expansion of the textile and food & beverage sector particularly in Europe is expected to have a positive impact on the industry over the next seven years.

Caprolactam used in manufacturing nylon 6 resins is expected to witness significant gains at a CAGR of 5.1% from 2015 to 2022, in terms of volume. Growing use of engineering plastics for the production of automotive parts including engine covers, gears and bearings owing to its high resistance to oil and grease, is expected to subsequently drive growth.

Regional Insights

Asia Pacific caprolactam market accounted for over 55.0% of global revenue share in 2014. Rapid industrialization leading to establishment of numerous automotive and appliance manufacturing plants, particularly in India and China, is expected to have a positive impact on industry growth over the next seven years.

Europe was the second largest market, valued at over USD 2.40 billion in 2014. Increasing R&D for the production of bio-based products in the region is expected to have a favorable impact on growth over the forecast period.

Competitive Insights

BASF SE, China Petroleum & Chemical Corporation, China Petrochemical Development Corporation, Honeywell International Inc., KuibyshevAzot OJSC and DSM dominated the global caprolactam market share in 2014.

Companies including BASF and DSM are integrated across numerous stages of the value chain. These companies are engaged in raw material production, which are consumed for manufacturing caprolactam. Integration across numerous stages of the value chain results in continuous raw material supply including ammonia and cyclohexane.

In July 2015, BASF SE increased the caprolactam price by USD 0.10 per pound in North America on account of raw material price rise. In July 2015, DSM and CVC finalized their partnership for polymer intermediates and composite resins through the establishment of a new company known as ChemicaInvest B.V.

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