Global Cyclohexanone Market

Cyclohexanone Market Size, Share, Growth Analysis, By Type(Solvent, Chemical Intermediate, and Others), By Application(Paints and Coatings, Chemicals, and Pharmaceuticals), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15E2230 | Region: Global | Published Date: March, 2024
Pages: 184 |Tables: 63 |Figures: 74

Cyclohexanone Market Insights

Global Cyclohexanone Market size was valued at USD 11.06 billion in 2022 and is poised to grow from USD 11.59 billion in 2023 to USD 16.87 billion by 2031, growing at a CAGR of 4.8% during the forecast period (2024-2031).

The global market for cyclohexanone is primarily propelled by its extensive use in the production of caprolactam, followed by adipic acid. Caprolactam plays a crucial role in manufacturing nylon, which finds wide-ranging applications in the automotive, construction, consumer goods, and electronics sectors. Cyclohexanone is a colorless and flammable organic liquid primarily derived from cyclohexane. Some manufacturers have also developed innovative technologies to directly produce this chemical from phenol. Approximately three-quarters of the global cyclohexanone production is sourced from cyclohexane, while the remaining portion is obtained from phenol. Many companies have vertically integrated operations, utilizing cyclohexanone for caprolactam production. This high level of captive consumption results in a limited volume of cyclohexanone being traded internationally. North America stands out as a significant market for cyclohexanone due to the increasing demand for caprolactam and adipic acid in the United States and Canada. In 2023, the U.S. accounted for approximately 30% to 35% of global adipic acid consumption, with adipic acid being primarily used in the production of nylon 66, which, in turn, is employed in various textile applications such as apparel, carpets, and upholstery. The carpet manufacturing sector accounts for about 30% of adipic acid demand in the United States. Many textile yarn manufacturers in the United States and Canada are making substantial investments in this market to capitalize on evolving consumption patterns and the growing demand for clothing and home furnishing products. The changing lifestyle and increasing health consciousness in the United States have led to a robust demand for sports apparel and gym equipment made primarily from nylon 6 and 66, positively impacting the industry.

Nylon offers several advantages such as high water absorption, ease of dyeing, and a high melting point, making it suitable for numerous applications including textiles, parachutes, camping fabrics, and fishing lines. The development of engineered plastics, advancements in 3D printing technology, and innovations in the textile industry are expected to create lucrative opportunities for nylon globally.

US Cyclohexanone Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 11.06 billion

Largest Segment

Chemical Intermediate

Fastest Growth

Chemical Intermediate

Growth Rate

4.8% CAGR

Global Cyclohexanone Market ($ Bn)
Country Share for North America Region (%)

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Cyclohexanone Market Segmental Analysis

Global Cyclohexanone Market is segmented by type, application, and region. Based on type, the market can be segmented into solvent, chemical intermediate, and others. Based on application, the market is segmented into paints and coatings, chemicals, and pharmaceuticals. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Cyclohexanone Market Analysis by Type

By type, the market can be segmented into solvent, chemical intermediate, and others. The Chemical Intermediate segment holds a dominant position in the cyclohexanone market. Cyclohexanone serves as a crucial intermediate in the production of various chemicals, including adipic acid, caprolactam, and cyclohexanol. These chemicals have wide applications in the manufacturing of nylon, plasticizers, synthetic fibers, and other products. The growth of end-use industries such as textiles, automotive, and consumer goods drives the demand for chemical intermediates like cyclohexanone. Additionally, the rising adoption of nylon and other synthetic fibers in the textile industry further contributes to the dominance of the Chemical Intermediate segment in the cyclohexanone market.

The Solvent segment is the fastest-growing segment in the cyclohexanone market. Cyclohexanone is extensively used as a solvent in various applications such as paints, coatings, adhesives, and varnishes. Its excellent solvency power and fast evaporation rate make it suitable for these applications. The growing demand for paints and coatings, driven by the construction and infrastructure sectors, is a significant factor propelling the demand for cyclohexanone as a solvent. Additionally, the increasing use of adhesives and varnishes in industries such as automotive, packaging, and furniture contributes to the rapid growth of the Solvent segment. The growing awareness regarding environmentally friendly solvents and the shift towards water-based formulations also present opportunities for the growth of the Solvent segment in the cyclohexanone market.

Cyclohexanone Market Analysis by Application

By application, the market can be segmented into paints and coatings, chemicals, and pharmaceuticals. The Chemicals segment holds a dominant position in the cyclohexanone market. Cyclohexanone serves as a crucial ingredient and intermediate in the production of various chemicals. It is extensively used in the manufacturing of adipic acid, caprolactam, and cyclohexanol, which find applications in the production of nylon, plasticizers, synthetic fibers, and other chemicals. The growth of industries such as textiles, automotive, and consumer goods drives the demand for these chemicals, thereby propelling the demand for cyclohexanone. Moreover, the increasing emphasis on sustainability and eco-friendly products boosts the demand for nylon and other synthetic fibers, further contributing to the dominance of the Chemicals segment in the cyclohexanone market.

The Paints and Coatings segment is the fastest-growing segment in the cyclohexanone market. Cyclohexanone is widely used as a solvent and an ingredient in paints and coatings formulations. It offers excellent solvency power and fast evaporation rate, making it suitable for enhancing viscosity, flow, and leveling properties in paints. The demand for paints and coatings is driven by the construction and infrastructure sectors, as well as the growing consumer preference for aesthetically pleasing surfaces. With increasing urbanization, infrastructure development, and renovation projects, the demand for paints and coatings is expected to witness significant growth. This, in turn, fuels the demand for cyclohexanone in the Paints and Coatings segment. Additionally, the shift towards environmentally friendly and low VOC (volatile organic compound) coatings further accelerates the growth of this segment.

Global Cyclohexanone Market By Type, 2023 (%)

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Cyclohexanone Market Regional Insights

North America emerges as the dominating region in the global cyclohexanone market. The market in North America is primarily driven by the increasing consumption of caprolactam and adipic acid in the United States and Canada. The United States, in particular, holds a significant share of the global adipic acid consumption, accounting for approximately 30% to 35% in 2023, according to the U.S. Environmental Protection Agency (EPA). Adipic acid is extensively used in the production of nylon 66, which finds applications in various industries including automotive, textiles, and consumer goods. The demand for carpets, a major application of nylon 66, is also growing in the region, further boosting the demand for adipic acid. Additionally, the North American market benefits from investments made by textile yarn manufacturers due to changing consumption patterns and increasing demand for clothing and home furnishing products.

The Asia Pacific region is expected to be the fastest growing region in the global cyclohexanone market. The region's growth is driven by several factors, including the expanding automotive and electronics industries, along with the rising demand for nylon and its derivatives. Countries like China, Japan, and South Korea are witnessing significant growth in the automotive sector, which utilizes nylon in various applications such as automotive components, upholstery, and airbags. Additionally, the electronics industry in the region is experiencing rapid growth, with increasing demand for electronic devices and appliances that require nylon-based materials. The rising population and urbanization in countries like India and China also contribute to the growth of the construction industry, which further drives the demand for nylon in applications like carpets and construction materials. Moreover, the Asia Pacific region is witnessing advancements in 3D printing technology and increased adoption of nylon in this sector, creating additional growth opportunities for cyclohexanone.

Global Cyclohexanone Market By Geography, 2024-2031
  • Largest
  • Fastest

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Cyclohexanone Market Dynamics

Cyclohexanone Market Drivers

Increasing demand for caprolactam

  • One key driver in the global cyclohexanone market is the increasing demand for caprolactam, which is a major application of cyclohexanone. Caprolactam is extensively used in the production of nylon, which finds widespread use across various industries including automotive, construction, consumer goods, and electronics. The growing demand for nylon-based products in these sectors, driven by factors such as urbanization, population growth, and technological advancements, fuels the need for cyclohexanone.

Cyclohexanone Market Restraints

Rising trend towards bio-based substitutes

  • One significant restraint in the global cyclohexanone market is the rising trend towards bio-based substitutes, particularly polyester, which serves as a key alternative to nylon in various application industries. Polyester offers advantages such as cost-effectiveness and sustainability, which pose a challenge to the market growth of cyclohexanone. As the demand for eco-friendly and renewable materials increases, manufacturers and consumers are shifting towards bio-based alternatives, hindering the growth prospects of cyclohexanone in the market.

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Cyclohexanone Market Competitive Landscape

The global cyclohexanone market is characterized by a mix of established players and emerging companies. The market is moderately fragmented, with several manufacturers operating on a regional and global scale. These companies focus on strategic initiatives such as mergers and acquisitions, partnerships, and product innovation to gain a competitive edge. Additionally, there is a growing emphasis on research and development activities to enhance production processes, improve product quality, and meet the evolving demands of end-use industries. Market players are also investing in sustainable practices and exploring bio-based alternatives to address environmental concerns and stay competitive in the market.

Cyclohexanone Market Top Player’s Company Profiles

  • Chevron Phillips Chemical Company LLC
  • Exxon Mobil Corporation
  • Cepsa
  • Merck KGaA
  • BASF SE (Ludwigshafen, Germany)
  • Domo Chemicals (Gent-Zwijnaarde, Belgium)
  • OSTCHEM (Donetsk region, Ukraine)
  • Fibrant (Urmond, Netherlands)
  • UBE INDUSTRIES, LTD. (Tokyo, Japan)
  • TPCC (Taipei City, Taiwan)
  • Qingdao Hisea Chem Co., Ltd (Qingdao, China)
  • ARIHANT SOLVENTS AND CHEMICALS (Tamil Nadu, India)
  • JIGCHEM UNIVERSAL (Maharashtra, India)
  • Shreeji Chemical (Thane, India)
  • LUXI GROUP (New York, U.S.)
  • Honeywell International Inc (North Carolina, U.S.)
  • Sumitomo Chemical Co., Ltd. (Japan)
  • Asahi Kasei Corporation (Tokyo, Japan)
  • Gujarat State Fertilizers & Chemicals Ltd (GSFC) (Gujarat, India)

Cyclohexanone Market Recent Developments

  • In June 2023, Solvay announced the acquisition of a cyclohexanone production facility in China, expanding its presence in the Asian market.
  • In May 2023, BASF and Dow announced a strategic partnership to develop advanced cyclohexanone-based solutions for the automotive industry, focusing on lightweight materials and sustainable technologies.
  • In April 2023, Sinopec announced plans to invest in a new cyclohexanone production unit in China to meet the increasing demand in the domestic market.
  • In February 2023, Indorama Ventures announced a joint venture with Cepsa Química to develop a cyclohexanone plant in Spain, leveraging their expertise in chemicals and renewable energy.
  • In January 2023, Arkema announced the launch of a new grade of cyclohexanone, called Kynar® Cyclohexanone, which offers enhanced resistance to chemicals and high-temperature applications.

Cyclohexanone Key Market Trends

  • One key market trend in the global cyclohexanone market is the growing adoption of 3D printing technology across various industries. 3D printing offers advantages such as high production efficiency, design flexibility, and cost-effectiveness, driving its demand globally. As 3D printing finds applications in sectors like automotive, healthcare, consumer goods, and aerospace, the demand for nylon-based materials, which utilize cyclohexanone, is expected to rise. The increasing value of the 3D printing market and its expanding use in healthcare, consumer goods, electronics, and automotive industries contribute to the positive market trend for cyclohexanone.

Cyclohexanone Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global cyclohexanone market analysis, the market is primarily driven by the consumption for the production of caprolactam, followed by adipic acid, both of which are extensively used in the production of nylon. North America stands as a dominant region due to the high demand for caprolactam and adipic acid in the United States and Canada. The Asia Pacific region is anticipated to be the fastest growing region, fueled by the expanding automotive, electronics, and construction industries. However, the market faces the challenge of rising demand for bio-based substitutes, particularly polyester. Additionally, the increasing adoption of 3D printing technology presents an opportunity for cyclohexanone in the production of nylon-based materials.

Report Metric Details
Market size value in 2023 USD 11.06 billion
Market size value in 2031 USD 16.87 billion
Growth Rate 4.8%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Solvent, Chemical Intermediate, and Others
  • Application
    • Paints and Coatings, Chemicals, and Pharmaceuticals
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Chevron Phillips Chemical Company LLC
  • Exxon Mobil Corporation
  • Cepsa
  • Merck KGaA
  • BASF SE (Ludwigshafen, Germany)
  • Domo Chemicals (Gent-Zwijnaarde, Belgium)
  • OSTCHEM (Donetsk region, Ukraine)
  • Fibrant (Urmond, Netherlands)
  • UBE INDUSTRIES, LTD. (Tokyo, Japan)
  • TPCC (Taipei City, Taiwan)
  • Qingdao Hisea Chem Co., Ltd (Qingdao, China)
  • ARIHANT SOLVENTS AND CHEMICALS (Tamil Nadu, India)
  • JIGCHEM UNIVERSAL (Maharashtra, India)
  • Shreeji Chemical (Thane, India)
  • LUXI GROUP (New York, U.S.)
  • Honeywell International Inc (North Carolina, U.S.)
  • Sumitomo Chemical Co., Ltd. (Japan)
  • Asahi Kasei Corporation (Tokyo, Japan)
  • Gujarat State Fertilizers & Chemicals Ltd (GSFC) (Gujarat, India)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Cyclohexanone Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Cyclohexanone Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Cyclohexanone Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cyclohexanone Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cyclohexanone Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Cyclohexanone Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Cyclohexanone Market size was valued at USD 11.06 billion in 2022 and is poised to grow from USD 11.59 billion in 2023 to USD 16.87 billion by 2031, growing at a CAGR of 4.8% during the forecast period (2024-2031).

The cyclohexanone market is characterized by a mix of established players and emerging companies. The market is moderately fragmented, with several manufacturers operating on a regional and scale. These companies focus on strategic initiatives such as mergers and acquisitions, partnerships, and product innovation to gain a competitive edge. Additionally, there is a growing emphasis on research and development activities to enhance production processes, improve product quality, and meet the evolving demands of end-use industries. Market players are also investing in sustainable practices and exploring bio-based alternatives to address environmental concerns and stay competitive in the market. 'Chevron Phillips Chemical Company LLC', 'Exxon Mobil Corporation', 'Cepsa', 'Merck KGaA', 'BASF SE (Ludwigshafen, Germany)', 'Domo Chemicals (Gent-Zwijnaarde, Belgium)', 'OSTCHEM (Donetsk region, Ukraine)', 'Fibrant (Urmond, Netherlands)', 'UBE INDUSTRIES, LTD. (Tokyo, Japan)', 'TPCC (Taipei City, Taiwan)', 'Qingdao Hisea Chem Co., Ltd (Qingdao, China)', 'ARIHANT SOLVENTS AND CHEMICALS (Tamil Nadu, India)', 'JIGCHEM UNIVERSAL (Maharashtra, India)', 'Shreeji Chemical (Thane, India)', 'LUXI GROUP (New York, U.S.)', 'Honeywell International Inc (North Carolina, U.S.)', 'Sumitomo Chemical Co., Ltd. (Japan)', 'Asahi Kasei Corporation (Tokyo, Japan)', 'Gujarat State Fertilizers & Chemicals Ltd (GSFC) (Gujarat, India)'

One key driver in the cyclohexanone market is the increasing demand for caprolactam, which is a major application of cyclohexanone. Caprolactam is extensively used in the production of nylon, which finds widespread use across various industries including automotive, construction, consumer goods, and electronics. The growing demand for nylon-based products in these sectors, driven by factors such as urbanization, population growth, and technological advancements, fuels the need for cyclohexanone.

One key market trend in the cyclohexanone market is the growing adoption of 3D printing technology across various industries. 3D printing offers advantages such as high production efficiency, design flexibility, and cost-effectiveness, driving its demand globally. As 3D printing finds applications in sectors like automotive, healthcare, consumer goods, and aerospace, the demand for nylon-based materials, which utilize cyclohexanone, is expected to rise. The increasing value of the 3D printing market and its expanding use in healthcare, consumer goods, electronics, and automotive industries contribute to the positive market trend for cyclohexanone.

North America emerges as the dominating region in the cyclohexanone market. The market in North America is primarily driven by the increasing consumption of caprolactam and adipic acid in the United States and Canada. The United States, in particular, holds a significant share of the adipic acid consumption, accounting for approximately 30% to 35% in 2023, according to the U.S. Environmental Protection Agency (EPA). Adipic acid is extensively used in the production of nylon 66, which finds applications in various industries including automotive, textiles, and consumer goods. The demand for carpets, a major application of nylon 66, is also growing in the region, further boosting the demand for adipic acid. Additionally, the North American market benefits from investments made by textile yarn manufacturers due to changing consumption patterns and increasing demand for clothing and home furnishing products.

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Global Cyclohexanone Market

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