Caprolactam Global Market Report 2022: Ukraine-Russia War Impact
Major players in the caprolactam market are AdvanSix Inc. , Alpek S. A. B. de C. V. , The Aquafil Group, Toray Industries Inc. , Capro Corp. , China Petrochemical Development Corporation, Domo Chemicals GmbH, Grupa Azoty Zaklady Chemiczne, Gujarat State Fertilizers & Chemicals Limited, Guangdong Highsun Grou, Zhejiang Hengyi Group Co.
New York, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Caprolactam Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06372104/?utm_source=GNW
Ltd., KuibyshevAzot PJSC, Lanxess AG, Luxi Chemical Group Co. Ltd., China Petroleum & Chemical Corporation, Spolana s.r.o, Sumitomo Chemical Co. Ltd., Shandong Haili Chemical Industry Co. Ltd., Ube Industries Ltd., Honeywell International Inc, and Royal DSM N.V.
The global caprolactam market is expected to grow from $ 13.74 billion in 2021 to $ 14.57 billion in 2022 at a compound annual growth rate (CAGR) of 6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The caprolactam market is expected to grow to $ 17.41 billion in 2026 at a CAGR of 4.6%.
The caprolactam market consists of sales of caprolactam by entities (manufacturers, sole traders, and partnerships) that are used for nylon 6 production.Caprolactam is a mildly unpleasant-smelling, clear to milky white organic compound.
Caprolactam is a crystalline cyclic amide derivative of caproic acid with a melting point of 70 °C that possesses various properties such as tensile strength, superior elasticity, chemical and oil resistance, and low moisture absorbency.
The main raw materials used in caprolactam are phenol, cyclohexane, hydroxylamine sulfate, and others.The phenol is used as BPA, a chemical that is used in container coatings, adhesives, electronic insulators, glazing, sheeting, and optical and automotive polycarbonates.
Phenol can be tasted and smelled at concentrations below those that are harmful.The different applications include nylon 6 filaments, textile yarn, nylon 6 fibers, engineering plastics, printer inks, and others.
The various end-users include the textile industry, automobile industry, electrical and electronics industry, and others.
Asia Pacific was the largest region in the caprolactam market in 2021. The regions covered in the caprolactam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growth of the automotive industry is expected to propel the growth of the caprolactam market going forward.The automotive industry comprises the companies involved in the design, manufacture, and sale of motor vehicles and related components.
The shift towards fuel-efficient and environment-friendly automobiles has encouraged the use of nylon 6 in automobiles to reduce weight and fuel consumption by the vehicle. For instance, according to the India Brand Equity Foundation, commonly known as IBEF, an Indian government export promotion agency, vehicle production in India is expected to reach 22.93 million vehicles in 2022. Therefore, the growth of the automotive industry is driving the growth of the caprolactam market.
Technological advancements have emerged as a key trend gaining popularity in the caprolactam market.Major companies operating in the caprolactam sector are focused on developing new technological solutions to strengthen their position in the market.
For instance, in July 2021, Fibrant, a Netherlands-based chemical products and services company, marketed its caprolactam under the tradename EcoLactam, a new generation caprolactam with a reduced carbon footprint. The company will reduce its carbon footprint by over 50 percent by applying proprietary Hydranone technology.
In June 2021, DIC Corporation, a Japan-based chemicals company, acquired BASF’s global pigments business, BASF Colors & Effects, for an undisclosed amount.The acquisition brings together the complementary portfolio of products, manufacturing assets, technologies, and supply chain and customer service of both companies to serve global customers and manufacture pigments, cosmetics, coatings, inks, and plastics.
BASF SE is a Germany-based chemicals company.
The countries covered in the caprolactam market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The caprolactam market research report is one of a series of new reports that provides caprolactam market statistics, including caprolactam industry global market size, regional shares, competitors with a caprolactam market share, detailed caprolactam market segments, market trends and opportunities, and any further data you may need to thrive in the caprolactam industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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