Global Cyclohexanone Market by Application (Caprolactam, Adipic Acid, Solvents) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global cyclohexanone markets were valued at USD 7.5 million in 2019. They are expected to grow at a 3.3% revenue-based CAGR between 2020 and 2027. Its consumption for the production caprolactam is the main driver of this market, followed closely by adipic acids. Caprolactam is used primarily in the production nylon, which is then used across many end-use industries, including construction, automotive, consumer goods and electronics.

Cyclohexanone, a colorless and flammable organic liquid is mainly derived from the cyclohexane. Some manufacturers also have new technology for producing the chemical directly from phenol. The cyclohexane is responsible for more than three quarters of all cyclohexanone worldwide, while the remainder is made from phenol. Most companies integrate business that uses cyclohexanone to produce capsrolactam. Due to the high volume of captive consumption, there is not much product available for global trade.

North America is a major market for cyclohexanone due to growing demand for caprolactam (and adipic acids) in the U.S.A and Canada. The U.S. Environmental Protection Agency, (EPA) estimates that the U.S. accounted roughly for 30% to 35% global adipic acids consumption in 2018. The main use of adipic acid is in the manufacture of nylon 66. This is then used for different textile products like carpets, upholstery, and apparel. The region's growing demand for carpets is driving demand for and adipic acid. Around 30% of the country's adipic acid needs are met by carpet manufacturing.

North America will be the second largest consumer of textile yarn in 2022, following the Asia Pacific. The two most important textile yarns in the region are cotton and polyester. Numerous textile yarn companies in Canada and the U.S. are investing heavily in North America because of rapidly changing consumer patterns and growing demand for clothing and home furnishing products. The industry has been positively affected by the changing lifestyles and increasing health awareness in the U.S.

Nylon is suitable for many applications, including textiles, parachutes and camping fabrics. It also has high water absorption and easy dyeing. Globally, nylon is expected to be a lucrative product due to the development of engineered plastics and technological advances in 3D printing. The versatility of 3D printing technology is applicable to a wide range industries, including aviation, automotive, healthcare, heavy machinery, and consumer goods. Due to its high productivity and durability, 3D printing technology has a growing demand.

A presentation at the 5th International Conference on 3D Printing Technology and Innovations showed that the global 3D printing market is expected to increase from USD 13 billion in 2019, to USD 25 billion by 2023. 3D printing's increasing use in healthcare, electronics and the automotive industry is expected to drive demand. This will likely positively impact the demand for cyclohexanone to make nylon.

Cyclohexanone's market growth will be impeded by the rising demand for bio-based alternatives. Polyester is a major threat to the market, as it is used in many applications industries as a substitute for nylon.

Application Insights

Caprolactam, which was the largest use of cyclohexanone (67.6%) in 2019, is expected to maintain its dominance for the forecast period due to the high production of nylon. Additionally, many commercial processes for producing caprolactam, such as Hydroxylammonium Sulfate Oximation, Hydroxylammonium Phosphate Oximation, Honeywell Phenol Process and Enichem process use cyclohexanone to produce the raw material.

Although major cyclohexanone manufacturers are investing in R&D activities to ensure sustainable production, there is still a growing demand for nylon and it will likely continue to be made using traditional manufacturing methods for the next few decades. For the production of nylon 6 films, resins, and fibers, caprolactam is a key raw material. Caprolactam is used to produce nylon 6 fibers, with 30% being used for film and resin production.

Cyclohexanone is a solvent with a lower penetration than it used to be. However, its non-corrosive nature will allow for a steady increase in use of the solvent from 2020 to 2027. It is used in many industries, including agriculture, paints and coatings, and lubricants.

Regional Insights

Asia Pacific is expected to be the largest and fastest-growing region in terms of volume over the forecast period. With a CAGR 3.4% in terms revenue between 2020 and 2027, the key areas driving cyclohexanone consumption are expected to be Asia Pacific's rapidly growing industrial sector.

Market growth in Asia Pacific is influenced by the availability of skilled labor at a low cost and government support for industrial development. These factors have led to a shift of production plants towards developing economies, especially China and India. This has created lucrative opportunities for the region in the future. China is the world's largest consumer and producer of cyclohexanone. Due to its massive manufacturing industry, the country also exports large quantities of cyclohexanone.

The cyclohexanone penetration in Central, South America, the Middle East and Africa has been very low with a combined share of 7.5%. Despite having large oil reserves and high production, most of the cyclohexanone used in the region comes from Asia. These regions have a low level of awareness and limited participation from the government, which are key reasons for slow product growth.

Market Share insights for Cyclohexanone

Global market segmentation is done by small-scale and large-scale manufacturers. Some market players are fully integrated across the value chain and are involved in the production of both cyclohexane and cyclohexanone as well as caprolactam or adipic acid. There are several companies that make up the market, including Asahi Kasei Corp., Gujarat State Fertilizers and Chemicals Ltd., and BASF SE.

Due to their strong geographic presence around the world, Asahi Kasei Corp and BASF are the leaders in the market. These companies have strong customer bases, a product portfolio and integration throughout the value-chain. The top companies have large investment capabilities for R&D, marketing, and thus can establish a strong supply chain.

The Report Covers Certain Segments

This report forecasts volume and revenue growth at the global, regional and country level. It also provides analysis of industry trends for each sub-segment from 2016-2027. Grand View Research has divided the global cyclohexanone industry report on the basis both of application and location.

• Application Outlook (Volume of Kilotons; Revenue USD Millions, 2016-2027)

  • Caprolactam

  • Adipic Acid

  • Solvents

    • Paints & Dyes

    • Agriculture

    • Other

  • Other

• Regional Outlook (Volume of Kilotons; Revenue USD Millions, 2016-2027)

  • North America

    • U.S

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • Spain

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • South Africa

These are the most frequently asked questions about this report

b. The market for cyclohexanone worldwide was valued at USD 7.54 Billion in 2019, and is forecast to grow to USD 7.80 Billion by 2020.

b. The global market for cyclohexanone is expected to grow at 3.3% per year from 2019 to 2027, to reach USD 9.78 Billion by 2027.

b. Asia Pacific was the dominant market for cyclohexanone in 2019, with a share at 76.6%. This can be attributed to the government's initiatives for industrial development and shift in manufacturing facilities from India to China.

b. BaSF SE, Gujarat State Fertilizers & Chemicals Ltd. and Asahi Kasei Corporation are some of the key players in the cyclohexanone marketplace.

b. The market is driven by rising demand for nylon 3D printing applications and increasing automotive production.

Up Market Research published a new report titled “Cyclohexanone Market research report which is segmented by Application (Caprolactam, Adipic Acid, Solvents), By Players/Companies Gujarat State Fertilizers & Chemicals Ltd, Asahi Kasei Corporation, BASF SE”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Cyclohexanone Market Report Segments:

The market is segmented by Application (Caprolactam, Adipic Acid, Solvents).

Cyclohexanone Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Cyclohexanone Market

Overview of the regional outlook of the Cyclohexanone Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Cyclohexanone Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Cyclohexanone Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Caprolactam

                2. Adipic Acid

                3. Solvents

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Cyclohexanone Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Cyclohexanone Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.