Cyclohexanone Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Cyclohexanone Market
The cyclohexanone market size was valued at USD 7,690.4 million in 2019, and the market is now projected to grow from USD 10,462.4 million by 2027, exhibiting a CAGR of 4.7% during the forecast period of 2020-2027.
COVID-19 impacted the cyclohexanone market growth and its production was disrupted through the supply chain and lowered demand. Government restrictions and a shortage of workforce constrained manufacturing operations. The cut in crude oil prices caused a massive decline in the cost of petrochemicals. Cyclohexanone prices in China have tripled over the years compared with previous years. Furthermore, the shutdown of companies restricted the importation of pimelic ketone and the lack of labour led to a cutback on the chemical.
The increasing application of nylon across many industries, also known as key ingredients for nylon, is driving demand for cyclohexanone market share. Nylon 6 and 6,6 are used appreciably in engineering resins, textiles and industrial programs. Nylon 6 is essential for carpets, fabrics and commercial yarns, while nylon 6,6 is thought for its performance in automotive, electronics and packaging. Europe experiences an increase in sales of engineering resins and nylon fiber while nylon has its highest consumption in automobile and industrial applications in the U.S.. Heat and chemical resistance properties make nylon most suitable for automobile industries.
Additionally, cyclohexanone, used as a solvent in coatings and resins, is seeing rising demand due to trends in PVC coatings and anti-corrosive applications. Its potential as a sludge solvent for aircraft lubrication further supports market growth. Pimelic ketone’s strong solvency properties make it valuable in paints, herbicides and printing inks. It also catalyzes resin production and prevents blushing in lacquers. The growing demand for solvents across industries such as paints, coatings and agriculture is driving market expansion.
Comprehensive Analysis of Cyclohexanone Market
The cyclohexanone market and chemicals & advanced materials industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the chemicals & advanced materials industry. These segmentations are methodically segregated by applications. The application includes, Caprolactam, Adipic Acid, Solvents and Others.
The Asia Pacific market was USD 4,794.7 million in 2019. The increasing number of cars manufactured is said to be another factor that is probably to have a positive influence on the overall market of the world. The region offers a substantial opportunity to adipic acid producers who are willing to establish themselves in the location because of cheap skillful manpower and financial support from the government in the development of industries. The rapid industrialisation that results in the setting up of many automobile and appliance manufacturing units, particularly in India and China will have a positive bearing on the growth of caprolactam. The increase in the demand from the end-use sectors particularly for adipic acid and caprolactam will be a major factor contributing towards the market's growth during the forecast period.
The top players in the market play a crucial role in the chemicals & advanced materials industry assuring industrial prospectus growth and setting market standards. These players include, BASF SE (Ludwigshafen, Germany), Domo Chemicals (Gent-Zwijnaarde, Belgium), OSTCHEM (Donetsk region, Ukraine), Fibrant (Urmond, Netherlands), UBE INDUSTRIES, LTD. (Tokyo, Japan), TPCC (Taipei City, Taiwan), Qingdao Hisea Chem Co., Ltd (Qingdao, China), ARIHANT SOLVENTS AND CHEMICALS (Tamil Nadu, India), JIGCHEM UNIVERSAL (Maharashtra, India), Shreeji Chemical (Thane, India), LUXI GROUP (New York, U.S.), Honeywell International Inc (North Carolina, U.S.), Shandong Haili Chemical Co., Ltd. (Shandong Province, China), Shandong Hualu-Hengsheng (Shandong Province, China), Asahi Kasei Corporation (Tokyo, Japan), Gujarat State Fertilizers & Chemicals Ltd (GSFC) (Gujarat, India) and Other Players. These market players provide a level-playing competitive landscape.
In January 2020, DOMO Chemicals finalized the acquisition of Performance Polyamides Business from Solvay across Europe. This acquisition is a significant strategic move to bolster DOMO Chemicals engineering materials nylon based business.
Segmentation Table
Global Cyclohexanone Market Scope
Study Period 2016-2027
Base Year 2019
Forecast Period 2020-2027
Growth Rate CAGR of 4.7% from 2020 to 2027
Historical Period 2016-2018
Unit Value (USD Billion) and Volume (Kilo Tons)
Segmentation By Application, and Geography
By Application
Caprolactam
Adipic Acid
Solvents
Others
By Geography
North America
By Application
By Country
U.S.
By Application
Canada
By Application
Europe
By Application
By Country
Germany
By Application
UK
By Application
France
By Application
Italy
By Application
Spain
By Application
Russia & CIS
By Application
Rest of Europe
By Application
Asia Pacific
By Application
By Country
China
By Application
Japan
By Application
India
By Application
Taiwan
By Application
ASEAN
By Application
Rest of Asia Pacific
By Application
Latin America
By Application
By Country
Brazil
By Application
Mexico
By Application
Rest of Latin America
By Application
Middle East & Africa
By Application
By Country
GCC
By Application
South Africa
By Application
Rest of Middle East & Africa
By Application
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Emerging Trends
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Industry SWOT Analysis
- 4.3. Regulatory Analysis
- 4.4. Recent Industry Developments - Policies, Partnerships, New Application Launches, and Mergers & Acquisitions
- 5. Qualitative Insights – Impact of COVID-19 on Global Cyclohexanone Market
- 5.1. Supply Chain Challenges
- 5.2. Steps taken by Government/Companies to overcome this impact
- 5.3. Potential opportunities due to COVID-19 outbreak
- 6. Global Cyclohexanone Market Analysis, Insights and Forecast, 2016-2027
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Application (Volume/Value)
- 6.2.1.1. Caprolactam
- 6.2.1.2. Adipic Acid
- 6.2.1.3. Solvents
- 6.2.1.4. Others
- 6.2.2. By Region (Volume/Value)
- 6.2.2.1. North America
- 6.2.2.2. Europe
- 6.2.2.3. Asia Pacific
- 6.2.2.4. Latin America
- 6.2.2.5. Middle East & Africa
- 7. North America Cyclohexanone Market Analysis, Insights and Forecast, 2016-2027
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Application (Volume/Value)
- 7.2.1.1. Caprolactam
- 7.2.1.2. Adipic Acid
- 7.2.1.3. Solvents
- 7.2.1.4. Others
- 7.2.2. By Country (Volume/Value)
- 7.2.2.1. U.S.
- 7.2.2.1.1. By Application (Volume/Value)
- 7.2.2.1.1.1. Caprolactam
- 7.2.2.1.1.2. Adipic Acid
- 7.2.2.1.1.3. Solvents
- 7.2.2.1.1.4. Others
- 7.2.2.2. Canada
- 7.2.2.2.1. By Application (Volume/Value)
- 7.2.2.2.1.1. Caprolactam
- 7.2.2.2.1.2. Adipic Acid
- 7.2.2.2.1.3. Solvents
- 7.2.2.2.1.4. Others
- 8. Europe Cyclohexanone Market Analysis, Insights and Forecast, 2016-2027
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. By Application (Volume/Value)
- 8.2.1.1. Caprolactam
- 8.2.1.2. Adipic Acid
- 8.2.1.3. Solvents
- 8.2.1.4. Others
- 8.2.2. By Country (Volume/Value)
- 8.2.2.1. Germany
- 8.2.2.1.1. By Application (Volume/Value)
- 8.2.2.1.1.1. Caprolactam
- 8.2.2.1.1.2. Adipic Acid
- 8.2.2.1.1.3. Solvents
- 8.2.2.1.1.4. Others
- 8.2.2.2. UK
- 8.2.2.2.1. By Application (Volume/Value)
- 8.2.2.2.1.1. Caprolactam
- 8.2.2.2.1.2. Adipic Acid
- 8.2.2.2.1.3. Solvents
- 8.2.2.2.1.4. Others
- 8.2.2.3. France
- 8.2.2.3.1. By Application (Volume/Value)
- 8.2.2.3.1.1. Caprolactam
- 8.2.2.3.1.2. Adipic Acid
- 8.2.2.3.1.3. Solvents
- 8.2.2.3.1.4. Others
- 8.2.2.4. Italy
- 8.2.2.4.1. By Application (Volume/Value)
- 8.2.2.4.1.1. Caprolactam
- 8.2.2.4.1.2. Adipic Acid
- 8.2.2.4.1.3. Solvents
- 8.2.2.4.1.4. Others
- 8.2.2.5. Spain
- 8.2.2.5.1. By Application (Volume/Value)
- 8.2.2.5.1.1. Caprolactam
- 8.2.2.5.1.2. Adipic Acid
- 8.2.2.5.1.3. Solvents
- 8.2.2.5.1.4. Others
- 8.2.2.6. Russia & CIS
- 8.2.2.6.1. By Application (Volume/Value)
- 8.2.2.6.1.1. Caprolactam
- 8.2.2.6.1.2. Adipic Acid
- 8.2.2.6.1.3. Solvents
- 8.2.2.6.1.4. Others
- 8.2.2.7. Rest of Europe
- 8.2.2.7.1. By Application (Volume/Value)
- 8.2.2.7.1.1. Caprolactam
- 8.2.2.7.1.2. Adipic Acid
- 8.2.2.7.1.3. Solvents
- 8.2.2.7.1.4. Others
- 9. Asia-Pacific Cyclohexanone Market Analysis, Insights and Forecast, 2016-2027
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Application (Volume/Value)
- 9.2.1.1. Caprolactam
- 9.2.1.2. Adipic Acid
- 9.2.1.3. Solvents
- 9.2.1.4. Others
- 9.2.2. By Country (Volume/Value)
- 9.2.2.1. China
- 9.2.2.1.1. By Application (Volume/Value)
- 9.2.2.1.1.1. Caprolactam
- 9.2.2.1.1.2. Adipic Acid
- 9.2.2.1.1.3. Solvents
- 9.2.2.1.1.4. Others
- 9.2.2.2. Japan
- 9.2.2.2.1. By Application (Volume/Value)
- 9.2.2.2.1.1. Caprolactam
- 9.2.2.2.1.2. Adipic Acid
- 9.2.2.2.1.3. Solvents
- 9.2.2.2.1.4. Others
- 9.2.2.3. India
- 9.2.2.3.1. By Application (Volume/Value)
- 9.2.2.3.1.1. Caprolactam
- 9.2.2.3.1.2. Adipic Acid
- 9.2.2.3.1.3. Solvents
- 9.2.2.3.1.4. Others
- 9.2.2.4. Taiwan
- 9.2.2.4.1. By Application (Volume/Value)
- 9.2.2.4.1.1. Caprolactam
- 9.2.2.4.1.2. Adipic Acid
- 9.2.2.4.1.3. Solvents
- 9.2.2.4.1.4. Others
- 9.2.2.5. ASEAN
- 9.2.2.5.1. By Application (Volume/Value)
- 9.2.2.5.1.1. Caprolactam
- 9.2.2.5.1.2. Adipic Acid
- 9.2.2.5.1.3. Solvents
- 9.2.2.5.1.4. Others
- 9.2.2.6. Rest of Asia Pacific
- 9.2.2.6.1. By Application (Volume/Value)
- 9.2.2.6.1.1. Caprolactam
- 9.2.2.6.1.2. Adipic Acid
- 9.2.2.6.1.3. Solvents
- 9.2.2.6.1.4. Others
- 10. Latin America Cyclohexanone Market Analysis, Insights and Forecast, 2016-2027
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Application (Volume/Value)
- 10.2.1.1. Caprolactam
- 10.2.1.2. Adipic Acid
- 10.2.1.3. Solvents
- 10.2.1.4. Others
- 10.2.2. By Country (Volume/Value)
- 10.2.2.1. Brazil
- 10.2.2.1.1. By Application (Volume/Value)
- 10.2.2.1.1.1. Caprolactam
- 10.2.2.1.1.2. Adipic Acid
- 10.2.2.1.1.3. Solvents
- 10.2.2.1.1.4. Others
- 10.2.2.2. Mexico
- 10.2.2.2.1. By Application (Volume/Value)
- 10.2.2.2.1.1. Caprolactam
- 10.2.2.2.1.2. Adipic Acid
- 10.2.2.2.1.3. Solvents
- 10.2.2.2.1.4. Others
- 10.2.2.3. Rest of Latin America
- 10.2.2.3.1. By Application (Volume/Value)
- 10.2.2.3.1.1. Caprolactam
- 10.2.2.3.1.2. Adipic Acid
- 10.2.2.3.1.3. Solvents
- 10.2.2.3.1.4. Others
- 11. Middle East & Africa Cyclohexanone Market Analysis, Insights and Forecast, 2016-2027
- 11.1. Key Findings / Summary
- 11.2. Market Size Estimates and Forecast
- 11.2.1. By Application (Volume/Value)
- 11.2.1.1. Caprolactam
- 11.2.1.2. Adipic Acid
- 11.2.1.3. Solvents
- 11.2.1.4. Others
- 11.2.2. By Country (Volume/Value)
- 11.2.2.1. GCC
- 11.2.2.1.1. By Application (Volume/Value)
- 11.2.2.1.1.1. Caprolactam
- 11.2.2.1.1.2. Adipic Acid
- 11.2.2.1.1.3. Solvents
- 11.2.2.1.1.4. Others
- 11.2.2.2. South Africa
- 11.2.2.2.1. By Application (Volume/Value)
- 11.2.2.2.1.1. Caprolactam
- 11.2.2.2.1.2. Adipic Acid
- 11.2.2.2.1.3. Solvents
- 11.2.2.2.1.4. Others
- 11.2.2.3. Rest of Middle East & Africa
- 11.2.2.3.1. By Application (Volume/Value)
- 11.2.2.3.1.1. Caprolactam
- 11.2.2.3.1.2. Adipic Acid
- 11.2.2.3.1.3. Solvents
- 11.2.2.3.1.4. Others
- 12. Competitive Analysis
- 12.1. Business Strategies Adopted by Leading Players
- 12.2. Global Cyclohexanone Market Revenue Share/Ranking Analysis, By Key Manufacturer
- 13. Company Profiles
- 13.1. BASF SE (Ludwigshafen, Germany)
- 13.1.1. Overview
- 13.1.2. Description
- 13.1.3. Application Portfolio
- 13.1.4. Financials (As per Availaibity)
- 13.1.5. Recent Developments
- 13.2. Domo Chemicals (Ghent-Zwijnaarde, Belgium)
- 13.2.1. Overview
- 13.2.2. Description
- 13.2.3. Application Portfolio
- 13.2.4. Financials (As per Availaibity)
- 13.2.5. Recent Developments
- 13.3. OSTCHEM (Donetsk region, Ukraine)
- 13.3.1. Overview
- 13.3.2. Description
- 13.3.3. Application Portfolio
- 13.3.4. Financials (As per Availaibity)
- 13.3.5. Recent Developments
- 13.4. Fibrant (Urmond, Netherlands)
- 13.4.1. Overview
- 13.4.2. Description
- 13.4.3. Application Portfolio
- 13.4.4. Financials (As per Availaibity)
- 13.4.5. Recent Developments
- 13.5. UBE INDUSTRIES, LTD. (Tokyo, Japan)
- 13.5.1. Overview
- 13.5.2. Description
- 13.5.3. Application Portfolio
- 13.5.4. Financials (As per Availaibity)
- 13.5.5. Recent Developments
- 13.6. TPCC (Taipei City, Taiwan)
- 13.6.1. Overview
- 13.6.2. Description
- 13.6.3. Application Portfolio
- 13.6.4. Financials (As per Availaibity)
- 13.6.5. Recent Developments
- 13.7. Qingdao Hisea Chem Co., Ltd (Qingdao, China)
- 13.7.1. Overview
- 13.7.2. Description
- 13.7.3. Application Portfolio
- 13.7.4. Financials (As per Availaibity)
- 13.7.5. Recent Developments
- 13.8. ARIHANT SOLVENTS AND CHEMICALS (Tamil Nadu, India)
- 13.8.1. Overview
- 13.8.2. Description
- 13.8.3. Application Portfolio
- 13.8.4. Financials (As per Availaibity)
- 13.8.5. Recent Developments
- 13.9. JIGCHEM UNIVERSAL (Maharashtra, India)
- 13.9.1. Overview
- 13.9.2. Description
- 13.9.3. Application Portfolio
- 13.9.4. Financials (As per Availaibity)
- 13.9.5. Recent Developments
- 13.10. Shreeji Chemical (Thane, India)
- 13.10.1. Overview
- 13.10.2. Description
- 13.10.3. Application Portfolio
- 13.10.4. Financials (As per Availaibity)
- 13.10.5. Recent Developments
- 13.11. LUXI GROUP (New York, U.S.)
- 13.11.1. Overview
- 13.11.2. Description
- 13.11.3. Application Portfolio
- 13.11.4. Financials (As per Availaibity)
- 13.11.5. Recent Developments
- 13.12. Honeywell International Inc (North Carolina, U.S.)
- 13.12.1. Overview
- 13.12.2. Description
- 13.12.3. Application Portfolio
- 13.12.4. Financials (As per Availaibity)
- 13.12.5. Recent Developments
- 13.13. Shandong Haili Chemical Co., Ltd. (Shandong Province, China)
- 13.13.1. Overview
- 13.13.2. Description
- 13.13.3. Application Portfolio
- 13.13.4. Financials (As per Availaibity)
- 13.13.5. Recent Developments
- 13.14. Shandong Hualu-Hengsheng (Shandong Province, China)
- 13.14.1. Overview
- 13.14.2. Description
- 13.14.3. Application Portfolio
- 13.14.4. Financials (As per Availaibity)
- 13.14.5. Recent Developments
- 13.15. Asahi Kasei Corporation (Tokyo, Japan)
- 13.15.1. Overview
- 13.15.2. Description
- 13.15.3. Application Portfolio
- 13.15.4. Financials (As per Availaibity)
- 13.15.5. Recent Developments
- 13.16. Other Key Players
- 13.16.1. Overview
- 13.16.2. Description
- 13.16.3. Application Portfolio
- 13.16.4. Financials (As per Availaibity)
- 13.16.5. Recent Developments
- 14. Appendix
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