Stratview Research releases a new report on the Caprolactam Market that shows lucrative growth opportunities in the global industry during the next five-year period. This report ensures reliable information related to the present and future market trends. The following summary will give an overview of the challenges, dynamics, and more details mentioned in the report.
Caprolactam Market Insights:
The caprolactam market was estimated at USD 12.51 billion in 2021 and is likely to grow at a CAGR of 5% during 2022-2028 to reach USD 17.73 billion in 2028.
What is caprolactam?
Caprolactam is an organic compound, which is used as an intermediate in nylon manufacture. It is a colorless solid and comes from the lactam of caproic acid. It is mildly toxic in nature and is used with fibers for various items.
Caprolactam is used in different applications such as automotive, film coating, electrical electronics, consumer goods, appliances, wire cable, textile, carpet, machinery, and many other industrial items.
Market Drivers
The growth of the caprolactam market is primarily driven by the following-
- Outstanding energy-absorbing characteristics,
- An upsurge in the claim for durable polyamide 6,
- Demand for recyclable caprolactam,
- The forthcoming safety guidelines pioneering techniques.
Market Segmentation:
The report segments based upon geographics, demographics, benefits and volume etc., identifies the most attractive segments and sub-segments and have different driving factors. The segmentation mentioned in the report has been arranged in such a way that it can help users to be more efficient in terms of time, investment, and other resources. It also allows the businesses to learn more about their target audience so that they can tailor their strategies, and campaigns in increasing their market share and revenue.
Based on the application type, the market is segmented as textile, industrial, carpet, automotive, film coating, machinery, electrical electronics, consumer goods, appliances, wire cable, and others. The automotive application segment accounted for almost 29.6% share of the overall industry demand in 2021. In contrast, the consumer goods and appliance segments were the fastest-growing segments, owing to their high penetration in all regions. The segment's growth is attributed to stringent government directives, rising emphasis on salubrious air and water, and the necessity to better the standard of processing and engineering end-products.
In terms of regions, presently, Asia-Pacific is the largest consumer of caprolactam and is estimated to lead the market during the forecast period. China and Japan are the growth engines of the region and accounted for the largest share of the regional volumetric consumption in 2021. The market volume is relatively low in the RoW region and is expected to register a low growth of 2.9% during the forecast period. North America and Europe are also likely to offer substantial growth opportunities in the coming five years.
Report Customization Options
Stratview Research offers one of the following free customization options to the users along with this detailed report:
Company Profiling
- Detailed brief of additional market players.
- SWOT analysis of key players.
- Competitive Benchmarking
Benchmarking of the market key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.
