The global caprolactam market size is expected to reach USD 19.08 Billion in 2030 and register a CAGR of 3.43% over the forecast period, according to the latest report by Reports and Data. Key factors such as growing preference for bio-based caprolactam in engineering films and rising focus on research & development activities to increase cost-effectiveness of products made of caprolactam are driving market revenue growth. Caprolactam (CPL) is a colorless organic solid compound used in the production of synthetic fibers and resins.
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Caprolactam is commonly used to manufacture nylon 6 engineering plastics, nylon 6 fibers, and films. Nylon 6 fibers segment accounted for majority revenue share in the global market in 2020. These are extensively used for manufacturing textile and industrial fiber. Nylon 6 fibers possess various advantages such as high resistance to mildew & moths and excessive elasticity. It is a major factor driving revenue growth of this segment.
Based on regional analysis, Asia Pacific market accounted for a 23.2% revenue share in the global market in 2020. This region is expected to register fastest revenue CAGR than other regions over the forecast period. Rising usage of nylon 6 fibers for producing different types of textile materials and rapid industrialization are likely to boost market growth in Asia Pacific.
Europe accounted for second-largest revenue share in 2020 and the trend is expected to continue over the forecast period. Rapid development of construction and textile & fabric industries is one of the key factors driving revenue growth of the market in this region.
Cyclohexane segment accounted for largest revenue share in the global market in 2020. Increasing utilization of cyclohexane for the production of caprolactam, owing to its easy availability, low cost, and high effectiveness is expected to propel growth of this segment in the near future.
North America accounted for largest revenue share in the global market in 2020. Canada and the United States are considered to be major growth contributors in this region. Increasing use of caprolactam in films & coatings and presence of a number of key end-use industries are expected to drive market revenue growth in this region.
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