Cyclohexanone Market Size, Share | Global Industry Analysis, Growth and Forecast
Posted by ChemAnalyst on October 4th, 2021
According to ChemAnalyst report, “Cyclohexanone Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, The Cyclohexanone market registered demand of 6400 thousand tonnes in 2020 and is anticipated to grow at a healthy CAGR of 4.1% in the span of the next ten years. Rapidly growing demand for Caprolactam, Adipic acid, and solvents from the major end-use industries such as chemical, paint and coatings, automotive, and others are expected to augment the Cyclohexanone market in the upcoming years. Increasing demand for Nylon fibers from the textile industry is likely to drive the Cyclohexanone market around the globe in the next few years. The harmful effects of Cyclohexanone on human health as it can potentially affect the nervous system and can cause irritation in the eye and skin can somehow hinder market growth in the future.
Read Full Report Here: https://www.chemanalyst.com/industry-report/cyclohexanone-market-653
Cyclohexanone is an organic compound with the molecular formula (CH2)5CO, also referred to as oxo cyclohexane, cyclohexyl ketone, pimelic ketone, and CYC. It comprises a six-carbon cyclic molecule with a ketone functional group. Cyclohexanone is a colorless and partially soluble liquid with an odor reminiscent of that of acetone. It is basically an intermediate product of the Caprolactam Plant. Cyclohexanone is manufactured on a large industrial scale, mainly as a precursor to Nylon. It is generally produced by the oxidation of cyclohexane in air, typically using catalysts of cobalt. Cyclohexanone can also be synthesized by the partial hydrogenation of phenol.
Global Cyclohexanone Market is segmented based on end-user industry, applications, distribution channel, and region. Cyclohexanone is widely utilized in the production of precursors to Nylon 6 and Nylon 6,6. Depending on various applications, the Cyclohexanone market is segmented into Caprolactam, Adipic Acid, solvents, and others. Cyclohexanone is extensively used in the manufacturing of Caprolactam and Adipic Acid. The Caprolactam segment holds the major share in the Cyclohexanone market due to its rising demand by the automotive and textile industry. The rapidly growing demand for Caprolactam around the world for the production of Nylon is expected to boost the Cyclohexanone market in the upcoming years.
On the basis of end-use industries, the market is divided into paint & coatings, fertilizers, automotive, chemicals, textiles, pharmaceuticals, and others. The Cyclohexanone market is propelled by the substantial demand for Nylon 6,6 and Nylon fibers, which are widely used in various end-user industries globally. The rising demand for Nylon 6,6 due to its versatile properties such as high tensile strength and heat and chemical resistance by the automotive and other industries is likely to boost the Cyclohexanone market over the next few years. Continuously growing demand from the chemical and textile industry will further drive the Cyclohexanone market in the future.
Long-term exposure to Cyclohexanone can cause irritation of the eyes, skin, and respiratory tract, and can potentially result in problems with the nervous system, Which can further hamper the Cyclohexanone market growth in the future.
In 2020, the Cyclohexanone market witnessed a severe impact globally due to the outbreak of COVID-19. Government authorities in emerging and industrialized economies imposed countrywide lockdowns and strict restrictions which led to the drastic decline in demand for Cyclohexanone and further affected the global supply chain. Many industries including chemical, automotive, paint and coatings, and others were drastically affected in the first half of 2020. Several production units temporarily halted their functions and operations in order to stop the spread of the deadly coronavirus. However, with the gradual opening of the market, the Cyclohexanone market is projected to regain its growth by the end of the year.
Among different regions, the Asia Pacific region dominated the Cyclohexanone market globally in 2019 and is anticipated to maintain its dominance until the next ten years owing to the expansion of major end-use industries in the region. The increasing demand for Caprolactam and adipic acid is expected to accelerate the Cyclohexanone market in the Asia Pacific region. The easy availability of labor and fundings for industrial growth in emerging economies like China and India is another factor driving the market growth of Cyclohexanone in the Asia Pacific region. In Europe, the growing demand for Caprolactam from the automotive industry is likely to bolster the Cyclohexanone market in the future.
Cyclohexanone Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating in Cyclohexanone market include DuPont de Nemours, Asahi Kasei, Formosa Plastic Group, Lipeng Corporation Ltd., Rhodia S.A, BASF SE, Honeywell International Inc., Gujarat State Fertilizers & Chemicals Ltd., TPCC, UBE INDUSTRIES,LTD., Sheerji Chemical, and Others.
“The growing demand for Nylon 6,6 and Nylon fibers from the blooming textile, automotive, and other end-use industries is likely to boost the Cyclohexanone market around the world in upcoming years. The increasing disposable income around the world has led to a rise in the demand for Caprolactam and adipic acid, which is further expected to augment the Cyclohexanone market growth in the next few years. The rising demand for Caprolactam especially in the Asia Pacific region for the expansion of automotive and textile industries is expected to witness robust growth in the future. Emerging trends in the market around the world regarding Cyclohexanone and its production are expected to benefit its demand in the future.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
Like it? Share it!
About the AuthorChemAnalyst
Joined: August 3rd, 2021
Articles Posted: 34
More by this author