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.
Scope of the Report
Attribute |
More Details |
Estimation base year |
2019 |
Actual estimates/Historical data |
2016-2018 |
Forecast period |
2020-2027 |
Representation of the market |
Volume in Kilotons, Revenues in USD Million, CAGR 2020-2027 |
Regional scope |
North America, Europe and Asia Pacific, Central & South America. Middle East & Africa. |
Country Scope |
U.S., Canada, Mexico, Germany, U.K., France, Spain, China, India, Japan, South Korea Brazil, Argentina, Saudi Arabia, South Africa |
Report coverage |
Forecast revenue, company share, competitive landscape and growth factors and trends |
15% off customization scope (equivalent of 5 analyst working days). |
We will customize the report to provide you with any additional information that you require. |
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.
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Application Outlook (Volume of Kilotons; Revenue USD Millions, 2016-2027)
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Caprolactam
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Adipic Acid
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Solvents
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Paints & Dyes
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Agriculture
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Other
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Other
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Regional Outlook (Volume of Kilotons; Revenue USD Millions, 2016-2027)
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North America
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U.S
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Canada
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Mexico
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Europe
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Germany
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U.K.
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Spain
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France
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Asia Pacific
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China
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India
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Japan
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South Korea
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Central & South America
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Brazil
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Argentina
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Middle East & Africa
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Saudi Arabia
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South Africa
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These are the most frequently asked questions about this report
How big is the market for cyclohexanone?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.
What is the cyclohexanone industry growth?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.
Which segment had the largest market share for cyclohexanone?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.
What are the major players in the cyclohexanone industry?b. BaSF SE, Gujarat State Fertilizers & Chemicals Ltd. and Asahi Kasei Corporation are some of the key players in the cyclohexanone marketplace.
What are the driving factors for the cyclohexanone industry?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
Report Attributes | Report Details |
Report Title | Cyclohexanone Market Research Report |
By Application | Caprolactam, Adipic Acid, Solvents |
By Companies | Gujarat State Fertilizers & Chemicals Ltd, Asahi Kasei Corporation, BASF SE |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 243 |
Number of Tables & Figures | 171 |
Customization Available | Yes, the report can be customized as per your need. |
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:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Cyclohexanone Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
1. Caprolactam
2. Adipic Acid
3. Solvents
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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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.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cyclohexanone Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Cyclohexanone Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Cyclohexanone Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Cyclohexanone Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Cyclohexanone Market Size & Forecast, 2018-2028
4.5.1 Cyclohexanone Market Size and Y-o-Y Growth
4.5.2 Cyclohexanone Market Absolute $ Opportunity
Chapter 5 Global Cyclohexanone Market Analysis and Forecast by Application
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Application
5.1.2 Basis Point Share (BPS) Analysis by Application
5.1.3 Absolute $ Opportunity Assessment by Application
5.2 Cyclohexanone Market Size Forecast by Application
5.2.1 Caprolactam
5.2.2 Adipic Acid
5.2.3 Solvents
5.3 Market Attractiveness Analysis by Application
Chapter 6 Global Cyclohexanone Market Analysis and Forecast by Region
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Region
6.1.2 Basis Point Share (BPS) Analysis by Region
6.1.3 Absolute $ Opportunity Assessment by Region
6.2 Cyclohexanone Market Size Forecast by Region
6.2.1 North America
6.2.2 Europe
6.2.3 Asia Pacific
6.2.4 Latin America
6.2.5 Middle East & Africa (MEA)
6.3 Market Attractiveness Analysis by Region
Chapter 7 Coronavirus Disease (COVID-19) Impact
7.1 Introduction
7.2 Current & Future Impact Analysis
7.3 Economic Impact Analysis
7.4 Government Policies
7.5 Investment Scenario
Chapter 8 North America Cyclohexanone Analysis and Forecast
8.1 Introduction
8.2 North America Cyclohexanone Market Size Forecast by Country
8.2.1 U.S.
8.2.2 Canada
8.3 Basis Point Share (BPS) Analysis by Country
8.4 Absolute $ Opportunity Assessment by Country
8.5 Market Attractiveness Analysis by Country
8.6 North America Cyclohexanone Market Size Forecast by Application
8.6.1 Caprolactam
8.6.2 Adipic Acid
8.6.3 Solvents
8.7 Basis Point Share (BPS) Analysis by Application
8.8 Absolute $ Opportunity Assessment by Application
8.9 Market Attractiveness Analysis by Application
Chapter 9 Europe Cyclohexanone Analysis and Forecast
9.1 Introduction
9.2 Europe Cyclohexanone Market Size Forecast by Country
9.2.1 Germany
9.2.2 France
9.2.3 Italy
9.2.4 U.K.
9.2.5 Spain
9.2.6 Russia
9.2.7 Rest of Europe
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 Europe Cyclohexanone Market Size Forecast by Application
9.6.1 Caprolactam
9.6.2 Adipic Acid
9.6.3 Solvents
9.7 Basis Point Share (BPS) Analysis by Application
9.8 Absolute $ Opportunity Assessment by Application
9.9 Market Attractiveness Analysis by Application
Chapter 10 Asia Pacific Cyclohexanone Analysis and Forecast
10.1 Introduction
10.2 Asia Pacific Cyclohexanone Market Size Forecast by Country
10.2.1 China
10.2.2 Japan
10.2.3 South Korea
10.2.4 India
10.2.5 Australia
10.2.6 South East Asia (SEA)
10.2.7 Rest of Asia Pacific (APAC)
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Asia Pacific Cyclohexanone Market Size Forecast by Application
10.6.1 Caprolactam
10.6.2 Adipic Acid
10.6.3 Solvents
10.7 Basis Point Share (BPS) Analysis by Application
10.8 Absolute $ Opportunity Assessment by Application
10.9 Market Attractiveness Analysis by Application
Chapter 11 Latin America Cyclohexanone Analysis and Forecast
11.1 Introduction
11.2 Latin America Cyclohexanone Market Size Forecast by Country
11.2.1 Brazil
11.2.2 Mexico
11.2.3 Rest of Latin America (LATAM)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Latin America Cyclohexanone Market Size Forecast by Application
11.6.1 Caprolactam
11.6.2 Adipic Acid
11.6.3 Solvents
11.7 Basis Point Share (BPS) Analysis by Application
11.8 Absolute $ Opportunity Assessment by Application
11.9 Market Attractiveness Analysis by Application
Chapter 12 Middle East & Africa (MEA) Cyclohexanone Analysis and Forecast
12.1 Introduction
12.2 Middle East & Africa (MEA) Cyclohexanone Market Size Forecast by Country
12.2.1 Saudi Arabia
12.2.2 South Africa
12.2.3 UAE
12.2.4 Rest of Middle East & Africa (MEA)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Middle East & Africa (MEA) Cyclohexanone Market Size Forecast by Application
12.6.1 Caprolactam
12.6.2 Adipic Acid
12.6.3 Solvents
12.7 Basis Point Share (BPS) Analysis by Application
12.8 Absolute $ Opportunity Assessment by Application
12.9 Market Attractiveness Analysis by Application
Chapter 13 Competition Landscape
13.1 Cyclohexanone Market: Competitive Dashboard
13.2 Global Cyclohexanone Market: Market Share Analysis, 2019
13.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
13.3.1 Gujarat State Fertilizers & Chemicals Ltd
13.3.2 Asahi Kasei Corporation
13.3.3 BASF SE