The global cyclohexanone market size reached US$ 7.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.7 Billion by 2028, exhibiting a growth rate (CAGR) of 3.88% during 2023-2028. The increasing requirement for repair and maintenance in vehicles, rising adoption in the textile industry for the manufacturing of clothes, and the growing adoption as a cleaning agent are some of the major factors propelling the market growth.
|Cyclohexanone Market Size in 2022
||US$ 7.6 Billion
|Cyclohexanone Market Forecast in 2028
||US$ 9.7 Billion
|Cyclohexanone Market Growth Rate (2023-2028)
Cyclohexanone is a clear, colorless liquid organic compound with a slightly sweet and pungent odor. It is produced on an industrial scale through the oxidation of cyclohexane or phenol. It is highly volatile and mixes well with other organic solvents, such as alcohol and ether. It is also soluble in water to a limited extent and highly soluble in many organic solvents, such as alcohols, ethers, and hydrocarbons. It can undergo various chemical reactions to produce different derivatives, including reduction, oxidation, condensation, and addition reactions.
There is an increase in the use of cyclohexanone in the automotive industry to maintain the aesthetic appearance of vehicles. This, coupled with the rising requirement for recreational and repair and maintenance of vehicles and the growing sales of luxury vehicles, is influencing the market positively. Moreover, the increasing adoption of cyclohexanone in the textile industry for the manufacturing of clothes, carpets, and industrial textiles is favoring the growth of the market. In addition, the rising usage of cyclohexanone for packing various goods and products is contributing to the market growth. Apart from this, the growing adoption of cyclohexanone as a cleaning agent and surface preparation for removing grease, oil, and other contaminants from metal surfaces is creating a positive outlook for the market.
Cyclohexanone Market Trends/Drivers:
Increasing industrial applications impelling market growth
Cyclohexanone is a versatile chemical compound that finds extensive use in various industrial applications. Its primary use is as a solvent in the production of paints, coatings, and adhesives. It has excellent solvency properties, low viscosity, and fast evaporation rate, which makes it ideal for dissolving and dispersing other substances. Additionally, cyclohexanone is an important intermediate in the production of nylon, which is used in textiles, automotive components, and engineering plastics. The demand for cyclohexanone is also driven by the growth of these industries, and the increasing demand for high-performance coatings and engineered plastics.
Expansion of pharmaceutical industry positively influencing sales of cyclohexanones
There is an increase in the use of cyclohexanone as a key building block for the synthesis of numerous pharmaceutical compounds, including antibiotics, analgesics, and anti-inflammatory drugs. Cyclohexanone cyclic structure and reactivity makes it a valuable material for drug synthesis. As the global population continues to grow and age, the demand for pharmaceutical products is increasing, driving the need for cyclohexanone as a vital raw material. The ongoing research and development activities in the pharmaceutical industry further contributes to the demand for cyclohexanone as new drug candidates are constantly being synthesized.
Growing use of cyclohexanone in production of plastics and polymers is bolstering the market growth
Cyclohexanone is used as a raw material in the synthesis of polycarbonate, which is widely employed in the manufacturing of eyeglass lenses, automotive parts, and electronic components. Additionally, cyclohexanone is utilized in the production of polyurethane foams, coatings, and adhesives. The versatility and desirable properties of these plastic and polymer materials contribute to the increasing demand for cyclohexanone. With the growing demand for durable and lightweight materials in industries, such as construction, automotive, and electronics, the demand for cyclohexanone as a key ingredient in the production of plastics and polymers continue to rise.
Cyclohexanone Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global cyclohexanone market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on production base, application, and end users.
Breakup by Production Base:
Cyclohexane represents the commonly used production base of cyclohexanone
The report has provided a detailed breakup and analysis of the cyclohexanone market based on the production base. This includes cyclohexane and phenol. According to the report, cyclohexane represented the largest segment as it can be used make Nylon 6 and the rising need for caprolactam in engineering resins.
Phenol is first oxidized using air or oxygen in the presence of a catalyst, often a metal catalyst like copper or vanadium. This step converts phenol to cyclohexanone hydroperoxide.
Breakup by Application:
- Adipic Acid
Caprolactam dominates the overall market
The report has provided a detailed breakup and analysis of the cyclohexanone market based on the application. This includes caprolactam, adipic acid, solvents and others. According to the report, caprolactam represented the largest segment. Caprolactam is a key intermediate in the production of nylon-6, a versatile synthetic polymer used in the manufacture of fibers, textiles, carpets, and engineering plastics. Cyclohexanone serves as a crucial raw material in the production of caprolactam. Through a series of chemical reactions, cyclohexanone is converted to caprolactam, which is then polymerized to form nylon-6. Nylon-6 has excellent mechanical strength, abrasion resistance, and chemical resistance, making it suitable for a wide range of applications.
Adipic acid is another important chemical produced using cyclohexanone. It is a dicarboxylic acid used primarily in the production of nylon-6,6. Cyclohexanone undergoes oxidation to form cyclohexanone oxime, which is then transformed into adipic acid through a process called Beckmann rearrangement. Adipic acid is extensively used in the production of nylon-6,6 fibers, engineering plastics, polyurethanes, and various coatings and adhesives.
Breakup by End Users:
- Paints and Dyes
- Nylon Industry
Cyclohexanone are widely used in nylon industry
The report has provided a detailed breakup and analysis of the cyclohexanone market based on the end users. This includes paints and dyes, fertilizers, nylon industry, pharmaceuticals, films, soaps, and others. According to the report, nylon industry represented the largest segment. Cyclohexanone is a crucial raw material in the production of nylon fibers and engineering plastics. It is involved in the synthesis of caprolactam, a key intermediate in the production of nylon-6. Nylon-6 finds applications in textiles, carpets, automotive parts, electrical insulation, and many other products.
Cyclohexanone is used as a solvent in the formulation of paints and dyes. Its excellent solvency power helps dissolve and disperse pigments, resins, and binders, contributing to the desired properties and application of these products.
Breakup by Region:
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
Asia Pacific exhibits a clear dominance, accounting for the largest cyclohexanone market share
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
Cyclohexanone is used in the production of coatings, adhesives, and sealants for construction materials, such as concrete, wood, and metal. This, coupled with the increasing remodeling activities in residential and commercial projects represents one of the primary factors bolstering the growth of the Asia Pacific market. Moreover, the rising production of vehicles is fueling the market growth of the region. Besides this, the growing use of cyclohexanone as a cleaning agent and solvent in the manufacturing of electronic components is influencing the market positively in the region.
North America is estimated to expand further in this domain, owing to the increasing demand for premium apparel, growing need for efficient and environment friendly cleaning solutions, and extensive research and development (R&D) activities.
The top companies in the global cyclohexanone market are focusing on developing green chemistry and sustainable methods to produce cyclohexanone, minimize waste generation, reduce energy consumption, and decrease the environmental impact of the production process. Moreover, key players are utilizing advanced process optimization techniques, such as artificial intelligence (AI), in the production process of cyclohexanone to help in predicting and optimizing reaction conditions, catalyst selection, and process parameters to improve yield, efficiency, and product quality. Apart from this, leading players are extensively investing in research and development (R&D) activities to develop new catalysts or the modification of existing catalysts to improve the efficiency and selectivity of cyclohexanone production. These techniques are also explored to enhance the sustainability and cost-effectiveness of the process.
The report has provided a comprehensive analysis of the competitive landscape in the global cyclohexanone market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- Arihant Chemicals
- DOMO Chemicals
- Fibrant (Highsun Group China)
- Grupa Azoty S.A.
- Gujarat State Fertilizers & Chemicals Ltd.
- Honeywell International Inc.
- Jigchem Universal
- Luxi Group Co. Ltd.
- Qingdao Hisea Chem Co. Ltd.
- Shreeji Chemical
- UBE Corporation
- In January 2020, DOMO Chemicals completed the acquisition of Solvay's Performance Polyamides Business in Europe. This acquisition is a major step in improving DOMO Chemicals' nylon-based engineering materials business.
- In 2023, Honeywell International Inc. introduces UOP EFining™ technology for new class of sustainable aviation fuel.
- In 2022, UBE Corporation acquired API Corp. from Mitsubishi Chemical to provide customers with reliable products.
Cyclohexanone Market Report Scope:
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Production Base
- End User
|Production Bases Covered
||Caprolactam, Adipic Acid, Solvents, Others
|End Users Covered
||Paints and Dyes, Fertilizers, Nylon Industry, Pharmaceuticals, Films, Soaps, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Arihant Chemicals, DOMO Chemicals, Fibrant (Highsun Group China), Grupa Azoty S.A., Gujarat State Fertilizers & Chemicals Ltd., Honeywell International Inc., Jigchem Universal, Luxi Group Co. Ltd., Qingdao Hisea Chem Co. Ltd., Shreeji Chemical, Solventis, UBE Corporation, etc.
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Key Questions Answered in This Report:
- How has the global cyclohexanone market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global cyclohexanone market?
- What is the impact of each driver, restraint, and opportunity on the global cyclohexanone market?
- What are the key regional markets?
- Which countries represent the most attractive cyclohexanone market?
- What is the breakup of the market based on the production base?
- Which is the most attractive production base in the cyclohexanone market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the cyclohexanone market?
- What is the breakup of the market based on the end users?
- Which is the most attractive end users in the cyclohexanone market?
- What is the competitive structure of the global cyclohexanone market?
- Who are the key players/companies in the global cyclohexanone market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the cyclohexanone market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global cyclohexanone market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the cyclohexanone industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.