Cyclohexanone Market is estimated to be US$ 11.83 billion by 2030 with a CAGR of 4.5% during the forecast period

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Published Date: May 2023

Growing applications of cyclohexane in various industries along with the increasing demand for nylon products in automotive and engineered plastics are major factors of the global cyclohexane market growth.

Cyclohexanone market accounted for US$ 7.64 billion in 2020 and is estimated to be US$ 11.83 billion by 2030 and is anticipated to register a CAGR of 4.5%.

The report. "Global Cyclohexanone Market, By Application (Nylon Production and Solvent), By End-Use (Textile Industry, Printing & Dying Industry, Pharmaceutical, Agricultural Industry, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”.

Key Highlights:

On September 2018, Invista declared that the company is adding a nylon 6, 6 capacity in Shanghai, China in order to fulfill the demand for the material in APAC. This led to grow the cyclohexanone market demand in the region as the organic chemicals are utilized as an intermediate for the production of nylon.
In 2016, Ube Industries, Ltd. declared a project of integrating a new manufacturing process for cyclohexanone at their Ube chemical factory in Ube City, Yamaguchi. The newly launched manufacturing process was aimed to fulfill the demand for caprolactam as cyclohexanone is the intermediate material used for producing the chemical.

Analyst View:

Growing demand for pesticide due to rising usage in agricultural industry demand may boost the global cyclohexanone market growth over the forecast period. Cyclohexanone is used in agricultural industry as a solvent to dissolve pesticides and herbicides such as DDT and organophosphorus pesticides. It is also utilized in pharmaceutical industry as a derivative to produce various drugs thereby propelling the global market growth.

Rising demand for nylon in textile, electronic industry, and personal safety equipment due to its low conductivity and excellent heat resistance are the main factors which may boost the global cyclohexanone market growth. The product is utilized as a precursor to nylon. It is used to produce adipic acid a major constituent of nylon 66 and caprolactam a monomer of nylon 6 thereby driving the product demand.

Key Market Insights from the report:

The global cyclohexanone market accounted for US$ 7.64 billion in 2020 and is estimated to be US$ 11.83 billion by 2030 and is anticipated to register a CAGR of 4.5%. The market report has been segmented on the basis of application, end-user, and region.

By application, nylon production segment is dominating the target market owing to its wide use in textile and clothing industry. The cyclohexane is used to produce caprolactam and adipic acid which are further used to manufacture many ends use products such as nylon 6, nylon 66 and others.
By end-user, textile industry segment is dominating the target market owing to presence of majority of the nylon manufacturers. The global demand for nylon has seen a paradigm shift owing to growing awareness among consumers.
By region, North America market may register a significant growth over the forecast period. Growth of lubricants due to increasing demand for automobiles is the key factor boosting the regional market size.

Competitive Landscape:

The prominent player operating in the global cyclohexanone market includes Dow chemicals, Gujarat State Fertilizers & Chemicals, Sinopec Limited, BASF, Domo chemicals, Shreeji Chemicals, Fibrant, jigchem Universal, Innova Corporate, and Arihant chemicals

The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces Analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period