The caprolactam market is majorly used as an intermediate of polyamide 6. The Caprolactam have different characteristics as per their manufacturing and application requirement in the end products. The Asia-Pacific region is expected to dominate this market with its growing demand for caprolactam in the polyamide 6 for different applications, especially the automotive, film & coating, and electrical & electronics segments. The Asia-Pacific and North America markets are estimated to show a rising growth in the next five years with the allied industries expected to stabilize the overall business need in the respective regions.
R&D is a key part of this market. The manufacturing companies, associations, and end-product manufacturers infuse high investments for future advancements and technology modifications of caprolactam as precursor to replace metals and match the new demands coming from various end-user industries. Polyamide 6 is dominant among all the competitive polyamides available, in terms of consumption and value, reasoned by its optimal cost to performance factor.
The Asia-Pacific is the largest region, both in terms of volume and value, followed by Europe and North America. China, Japan, U.S., Germany, India, Brazil, and Russia are expected to persist as successful caprolactam markets. The key players in the global caprolactam market are BASF SE (Germany), Royal DSM N.V. (The Netherlands), SINOPEC (China), UBE Industries (Japan), Honeywell International (U.S.), and others.
The Eastern and Central European nations and the emerging South-East Asian and Latin American nations are hosting global events such as Olympics & Fifa World Cup would supplement the growth of caprolactam industry. An increase in auto sales, proposals for improvement of infrastructure, and rising housing market in emerging economies will drive the polyamide 6 market, eventually driving the caprolactam market.
The caprolactam demand, in terms of value and volume, depicts the current and future projections according to the parallel economic and industrial outlook. This analysis covers important developments, expansions, agreements, and mergers & acquisitions of the leading global companies.
The estimated market value of caprolactam in 2012 was $14,951.0 million, and is projected to reach $18,659.2 million by 2019, growing at a CAGR of 3.9%, from 2014 to 2019. The high demand across the industries, such as packaging, electrical & electronics, consumer goods & appliances, and automotive will increase the overall caprolactam consumption in the polyamide 6 industry.