Emergence of Covid-19 to Offer Lucrative Growth Opportunities for Players in the Global Caprolactam Market

 


Caprolactam is a naturally occurring natural compound consisting
of the formula (CH⁃₄COOH)⁅CH⁃⁅N H2O. This green solid is
actually a lactic acid of caproic acid from animal feces. The active
ingredient, capsaicin, is considered to be important in drug discovery due to
its ability to penetrate the blood-brain barrier and activate pain receptors in
the body. The drug works by binding to pain-causing receptor sites on cells,
which then cause the release of neuropeptide Y (NPY). Almost all caprolactam
produced goes into the manufacture of Nylon 6.

Market Dynamics

Launch of nylon 6 products is expected to propel growth of the global
caprolactam market. For instance, in August 2020, Nylstar, a textile technology
company based in Blanes, Spain, launched yarn made from Invista recycled nylon
6,6 polymer with global recycled standard certification.

Emergence of Covid-19 is expected to offer lucrative growth
opportunities for players in the global caprolactam
market. For instance, globally, as of 7:03pm CET, 25 November 2020, there
have been 59,481,313 confirmed cases of COVID-19, including 1,404,542 deaths,
reported to the World Health Organization. The pandemic has led to increasing
demand for personal protective gear made from Nylon 6. In April 2020, Invista
Kingston announced that the company’s Nylon 6,6 to be used to make medical
gowns.

Moreover, initiatives to enhance caprolactam quality is also expected
to aid in growth of the global caprolactam market. For instance, in 2018, Gujarat
State Fertilizers and Chemicals Ltd successfully commissioned its Caprolactam
Quality Improvement Project for improvement in quality of extract Caprolactam
made at Caprolactam-I Plant of GSFC.

Among regions, Europe is expected to witness sluggish growth in
the caprolactam market, owing to significant decline in the automotive sector.
For instance, according to the Society of Motor Manufacturers and Traders, the
new car registrations in the U.K. decreased by 44% in March 2020 compared that
in March 2019.

The caprolactam market in North America is witnessing several
regulatory changes. For instance, in November 2020, The U.S. Food and Drug
Administration added polymers with caprolactam and hexamethylenediamine to its
Inventory of Effective Food Contact Substances (FCS) Notifications.

Competitive Analysis

Major players operating in the global caprolactam market include,
BASF SE, China Petroleum & Chemical Corporation, Genomatica, China
Petrochemical Development Corporation, Honeywell International Inc.,
KuibyshevAzot OJSC, Royal DSM N.V., UBE Industries, and SINOPEC.



















January 2020: Genomatica, a chemical manufacturing company,
announced to produce renewably sourced caprolactam for nylon production.

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