[Online Quarterly Update]The Cyclohexanone market has grown to 6400 thousand tonnes in 2020 and is anticipated to achieve a healthy CAGR of 4.1% in the next ten years. Cyclohexanone with the molecular formula (CH₂)₅CO is an organic compound which is also known as oxo cyclohexane, pimelic ketone, cyclohexyl ketone, and CYC. It consists of a six-carbon cyclic molecule along with a ketone functional group. It is a colorless and soluble liquid that has an odor reminiscent of that of acetone. It is an intermediate product of the Caprolactam Plant. Oxo Cyclohexane is produced on a large scale, mainly as a precursor to nylon. Industrially, Cyclohexanone is manufactured by the oxidation of cyclohexane in air, typically using cobalt catalysts. It can also be produced by the partial hydrogenation of phenol.
Cyclohexanone is extensively used in the production of precursors to Nylon 6,6 and Nylon 6. The industry is driven by the exponential demand for Nylon which is widely used in various end-user industries around the globe. On the basis of application, the market is segmented into Caprolactam, adipic acid, solvents, and others. Cyclohexanone is largely utilized in the manufacturing of Caprolactam and Adipic acid. The Caprolactam segment accounts for the largest share in the Cyclohexanone market owing to its rising demand by the automotive and textile industry. The growing demand for Caprolactam across the globe for the production of Nylon is likely to boost the Cyclohexanone market in the upcoming years.
Based on end-use industries, the market is segregated into paint & coatings, fertilizers, chemicals, textiles, automotive, pharmaceuticals, and others. Continuously increasing demand for Nylon 6,6 due to its versatile properties such as high tensile strength and heat and chemical resistance by end-use industries is anticipated to boost the Cyclohexanone market in the next few years. Surging demand from the chemical and textile industry will further propel the Oxo Cyclohexane market in the future.
In 2020, the Oxo Cyclohexane market witnessed a negative impact around the world due to the spread of COVID-19. Government authorities in emerging economies imposed countrywide lockdowns and strict social distancing restrictions which led to the severe decline in demand for the organic compound and further affected the global supply chain. Many end-user industries including chemical, automotive, and others were drastically affected during the first half of 2020. Manufacturing units temporarily halted their functions and operations in order to curb the spread of coronavirus. However, with the gradual opening of the market, the Cyclohexanone industry is anticipated to regain its growth by the end of the year.
Among different regions, the Asia Pacific region dominated the Cyclohexanone market across the globe in 2020 and is expected to maintain its dominance until the forecast period owing to the expansion of major end-use industries in the region. Rapidly growing demand for Caprolactam and Adipic Acid is likely to boost the Cyclohexanone market in the Asia Pacific region. The easy availability of labor and fundings for industrial growth in emerging countries like China and India is another factor augmenting the market growth of Cyclohexanone in the region. In Europe, the increasing demand for Caprolactam from the automotive industry is expected to boost the Cyclohexanone market in the upcoming years.
Major players operating in the Cyclohexanone market include DuPont de Nemours, Asahi Kasei, Formosa Plastic Group, Lipeng Corporation Ltd., Rhodia S.A, BASF SE, Gujarat State Fertilizers & Chemicals Ltd., Honeywell International Inc., Sheerji Chemical, TPCC, UBE INDUSTRIES,LTD., and Others.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
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Objective of the Study:
• To assess the demand-supply scenario of Cyclohexanone which covers production, demand, and supply of Cyclohexanone market globally.
• To analyse and forecast the market size of Cyclohexanone.
• To classify and forecast Cyclohexanone market based on application, technology, end-use and regional distribution.
• To identify drivers and challenges for Cyclohexanone market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Cyclohexanone market.
• To identify and analyse the profile of leading players involved in the manufacturing of Cyclohexanone.
To extract data for Cyclohexanone market, primary research surveys were conducted with Cyclohexanone manufacturers, suppliers, distributors, wholesalers, and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Cyclohexanone market over the coming years.
ChemAnalyst calculated Cyclohexanone demand globally by analyzing the historical data and demand forecast which was carried out considering imported Cyclohexanone, styrene prices, monomers used for production of Cyclohexanone. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Cyclohexanone manufacturers and other stakeholders
• Organizations, forums, and alliances related to Cyclohexanone distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Cyclohexanone manufacturers, customers, and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Cyclohexanone market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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Attribute
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Details
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Market size volume in 2020
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6400 thousand Tonnes
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Growth Rate
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CAGR of 4.1% from 2021 to 2030
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Base year for estimation
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2020
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Historic Data
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2015 – 2019
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Forecast period
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2021 – 2030
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Quantitative units
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Revenue in USD million/billion and CAGR from 2021 to 2030
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Report coverage
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Revenue forecast, demand & supply, competitive analysis, competitive landscape, growth factors, and trends
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Segments covered
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1. Application (Caprolactam, Adipic Acid, Solvents, and Others)
2. End-Use (Paint & Coatings, Fertilizers, Chemicals, Textiles, Automotive, Pharmaceuticals, and Others)
3. Sales Channel (Direct Company Sale, Direct Import, Distributors & Traders)
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Regional scope
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North America; Europe; Asia Pacific; South America; Middle East & Africa
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Country scope
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United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina
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Key companies profiled
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DuPont de Nemours, Asahi Kasei, Formosa Plastic Group, Lipeng Corporation Ltd., Rhodia S.A, BASF SE, Gujarat State Fertilizers & Chemicals Ltd., Honeywell International Inc., Sheerji Chemical, TPCC, UBE INDUSTRIES, LTD., and Others.
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Customization scope
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Free report customization with purchase. Addition or alteration to country, regional & segment scope.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com
