Cyclohexanone

Cyclohexanone

Global Cyclohexanone Market to Reach US$9.5 Billion by 2030

The global market for Cyclohexanone estimated at US$7.3 Billion in the year 2023, is expected to reach US$9.5 Billion by 2030, growing at a CAGR of 3.9% over the analysis period 2023-2030. Caprolactam Application, one of the segments analyzed in the report, is expected to record a 3.7% CAGR and reach US$6.3 Billion by the end of the analysis period. Growth in the Adipic Acid Application segment is estimated at 4.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$497.2 Million While China is Forecast to Grow at 4.6% CAGR

The Cyclohexanone market in the U.S. is estimated at US$497.2 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.7 Billion by the year 2030 trailing a CAGR of 4.6% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.3% and 3.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.0% CAGR.

Global Cyclohexanone Market - Key Trends & Drivers Summarized

Cyclohexanone is a colorless, oily liquid with a distinctive acetone-like odor, primarily used as an industrial chemical. It serves as a crucial intermediate in the production of nylon, particularly in the synthesis of adipic acid and caprolactam, which are key components of nylon 6 and nylon 66. Beyond its role in the nylon industry, cyclohexanone is also employed as a solvent in various applications, including paints, coatings, adhesives, and inks, due to its effective dissolving properties and compatibility with numerous substances. Its versatility extends to use in the pharmaceutical and agrochemical sectors, where it functions as a precursor in the synthesis of several active ingredients and pesticides.

The production and consumption of cyclohexanone are closely linked to the demand for nylon, which finds extensive application in the automotive, textile, and packaging industries. The automotive sector, in particular, relies on nylon for the manufacture of lightweight, durable components that enhance fuel efficiency and performance. The textile industry uses nylon fibers in clothing, carpets, and industrial fabrics, while the packaging industry benefits from nylon’s strength and resistance to chemicals. Innovations in production processes, such as more efficient catalytic oxidation methods, have improved the yield and environmental sustainability of cyclohexanone manufacturing, addressing both economic and regulatory pressures.

The growth in the cyclohexanone market is driven by several factors. Firstly, the expanding automotive and textile industries are increasing the demand for nylon, thereby boosting the need for cyclohexanone as a key intermediate. Secondly, advancements in production technologies are enhancing the efficiency and sustainability of cyclohexanone manufacturing. Thirdly, the growing use of cyclohexanone as a solvent in various industrial applications is contributing to its market expansion. Lastly, the development of new applications in pharmaceuticals and agrochemicals is opening up additional avenues for cyclohexanone consumption. These factors collectively ensure the robust growth and diversification of the cyclohexanone market.

 

Select Competitors (Total 71 Featured) -

• BASF SE
• Asahi Kasei Corporation
• Chevron Phillips Chemical Company LLC
• Alfa Aesar
• Ascend Performance Materials LLC
• Axens SA
• Clariant AG
• Clp International Pte. Limited
• AdvanSix, Inc.
• Arihant Chemical
• BariteWorld
• ALPHA CHEMIKA
• CEPSA (Compania Espanola de Petroleos SAU)
• Corechem Inc.
• AquaPhoenix Scientific, Inc.

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