India Caprolactam Market to Grow with a CAGR of 2.94% through 2029
Growing demand of caprolactam from electronic and packaging industries
is expected to drive the India Caprolactam Market growth in the forecast
period, 2025-2029.
According to TechSci Research report, “India
Caprolactam Market- By Region, Competition, Forecast and Opportunities,
2019-2029”, the India Caprolactam Market stood at USD 781.68 millions in 2023 and is
anticipated to grow with a CAGR of 2.94%in the forecast period, 2025-2029. The
initiatives taken by government based on caprolactam has led to favorable
market conditions for the India Caprolactam Market. Several factors contribute
to the growth of various caprolactam products.The Directorate General of Trade
Remedies (DGTR), a regulatory body responsible for safeguarding domestic
industries, has recently recommended the imposition of anti-dumping duty on
caprolactam imports. This move aims to provide protection to domestic
manufacturers and support their competitiveness in the market. The Indian
government, recognizing the significance of the manufacturing sector, has been
actively implementing various measures to promote its growth and attract both
domestic and foreign investments to India. While the specific initiatives
pertaining to caprolactam are not explicitly mentioned, these efforts
collectively contribute to the overall development and expansion of the
industry, fostering a more robust and resilient manufacturing ecosystem in the
country.
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With the increasing global focus on
e-waste management and recycling, the electronics industry is actively seeking
sustainable materials to minimize its environmental impact. Caprolactam, a
versatile compound, stands out as an attractive choice for manufacturers. Not
only does it offer excellent recyclability, but it also provides significant environmental
benefits.In addition to its advantages in the electronics industry, caprolactam
finds applications in various other sectors such as chemicals, pharmaceuticals,
and industrial packaging. Its robust and reliable properties make it ideal for
ensuring the safe transportation and storage of products. Caprolactam-based
nylon, with its exceptional strength, chemical resistance, and protection
against external factors, has emerged as a preferred choice for industrial
packaging applications. By embracing the use of caprolactam, industries can not
only meet their packaging needs but also contribute to a more sustainable and
eco-friendly future.
The India Caprolactam Market is segmented into raw
material, end product, application, regional distribution, and company
Based on its raw material, the cyclohexane segment held
the largest market share in the forecast period. The cyclohexane market segment
is primarily driven by the strong and consistent demand for nylon 6,6 and nylon
6 fibers, which find extensive applications in the textile and automotive
industries. These industries heavily rely on the exceptional properties of
these nylon materials, such as high strength, durability, and resistance to
heat and chemicals. Furthermore, the cyclohexane market receives a significant
boost from the adhesive industry, where it is used as a critical component in
various adhesive formulations. The adhesive industry's growth, driven by the
increasing demand for adhesives in sectors like construction, packaging, and
automotive, contributes to the expanding market for cyclohexane.Similarly, in
the case of phenol, its market growth is predominantly fueled by the demand
from end-user industries such as plastics, resins, pharmaceuticals, and
cosmetics. Phenol is widely used in the production of resins, coatings, and
molded products, including polycarbonate, epoxy resins, and phenolic resins.
The plastics industry, in particular, relies heavily on phenol for the
manufacturing of a wide range of plastic materials. Additionally, the
pharmaceutical and cosmetics industries utilize phenol in various formulations
due to its antiseptic and disinfectant properties. Moreover, technological
advancements and innovations in the production processes of cyclohexane and
phenol have played a significant role in expanding their respective market
segments. These innovations have led to improved efficiency,
cost-effectiveness, and environmental sustainability in the production of
cyclohexane and phenol, further boosting their market growth. Overall, the
cyclohexane and phenol market segments continue to witness steady growth,
driven by the demand from key industries and supported by technological
advancements that enhance their production processes.
Based on region, West India segment is expected to
grow during the forecast period. West India, known for its vibrant
industrial landscape, boasts multiple well-established industrial clusters that
are solely dedicated to chemical and petrochemical production. These dynamic
clusters not only facilitate the integration of suppliers, manufacturers,
research institutions, and supporting industries but also foster robust
synergies among them. The concentration of specialized expertise, cutting-edge
resources, and collaborative efforts within these clusters significantly
contributes to the unparalleled dominance of West India in the caprolactam
market.
Major companies operating in India Caprolactam Market
are:
- Triveni Aromatics and Perfumery Private
Limited
- Polyarn Agencies Private Limited
- Integral International Trading Company
Limited
- Manali Chemicals India Private Limited
- Growell Resources & Management
Private Limited
- Parigon Exports Private Limited
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“Growing application of caprolactam in various end
user industries are key drivers of the caprolactam market. Growth in
competitive landscape and presence of well-established countries in the market
who are dedicated to enhance their productivity of caprolactam with every
passing year are anticipated to register an impressive growth to India
Caprolactam Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“India
Caprolactam Market By Raw
Material (Phenol, Cyclohexane), By End Product (Nylon-6
Fibers, Nylon-6 Resins, Others), By Application (Engineering Resins and Films,
Industrial Yarns, Textiles and Carpets, Others), By Region, By Competition Forecast & Opportunities, 2019-2029”, has evaluated
the future growth potential of India Caprolactam Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India Caprolactam Market.
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