Cyclohexanone Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4000
Cyclohexanone Market size should see a significant growth during the forecast timeframe owing to its wide usage in printing inks, paints and lacquers, adhesives, cleaning agents and as a precursor to nylon. Growth in textile industry owing to wide usage nylon may drive the overall market growth.
Cyclohexanone is a colorless organic compound slightly soluble in water, having a pleasant odor similar to acetone. It is a 6 carbon cyclic molecule with ketone group. It is lighter than water and its fumes are heavier than air. It is formed by oxidizing cyclohexane in presence of cobalt as catalyst, which results in a mixture known as ketone alcohol oil or KA oil.
Cyclohexanone is widely used as an organic solvent, it is capable of dissolving nitrocellulose, cellulose ethers, PVC, poly(methyl methacrylate), polyvinyl acetate, polystyrene, phenol resin, coumarone resin, modified phenol resin, and various natural resins. It is widely used for solvent, coating owing to its superior properties which includes mutual solubility, low volatility, good dissolvability and low toxicity. Global ink and coating industry may surpass at over USD 45 billion by the year 2023 cyclohexanone is used in printing ink as a solvent which may drive the cyclohexanone market growth.
Increasing demand for nylon in textile, personal safety equipment and electronic industry owing to its excellent heat resistance and low conductivity are the main factors which may drive the cyclohexanone market. Global nylon market size is expected to account at over USD 40 Billion by the year 2025. The product is used as a precursor to nylon, it is used to produce caprolactam a monomer of nylon 6 and adipic acid a major constituent of nylon 66 thereby boosting the product demand.
Rising demand for pesticide owing to increasing usage in agricultural industry demand may drive the overall cyclohexanone market size. Global pesticide industry is likely to be valued at over USD 90 billion by 2023. Cyclohexanone is utilized in agricultural industry as a solvent to dissolve pesticides and herbicides such as organophosphorus pesticides and DDT. It is also used in pharmaceutical industry as a derivative to produce several drugs thereby driving the overall market growth.
Cyclohexanone is slightly hazardous to humans. Its inhalation, oral consumption and dermal exposure might possess health hazards owing to its acute toxicity and flammable nature. However, the health hazards associated with the product are low, but general protection against inhalation, skin and eye contact is required. The product is considered safe for environment.
North America led by Canada, Mexico and U.S. cyclohexanone market shall witness a significant growth during the foreseeable timeframe. Growth of lubricants owing to rising demand for automobiles is the key factor driving the regional market size. The U.S. lubricant market size in 2018 was valued at over USD 19.5 billion. The product is use as a solvent for piston-type lubricating oils, as a solvent for waxes, greases and rubbers thereby driving the regional product demand.
Europe cyclohexanone market size led by Germany, France, UK and Italy shall register a substantial growth during the forecast timeframe. Increasing demand for adhesives in automobile sector owing to their overheating and friction reduction action in engines is likely to drive the regional product demand. Germany automotive adhesives market is expected to account at over USD 1.5 billion by 2023. The product is used as an organic solvent in adhesives thereby fueling the regional market growth.
Asia pacific driven by India, Japan and China cyclohexanone market shall see a significant growth by the year 2025. Rising demand for nylon owing to increasing applications in plastic and textile industries is driving the regional market growth. India adipic acid market size was valued at over USD 185 million in 2017. The product is used in production of adipic acid and caprolactam which is used as monomers of nylon thereby accelerating the product demand.
Global cyclohexanone market is fragmented owing presence of several manufacturers. Companies like Dow chemicals, Gujarat State Fertilizers & Chemicals, Domo chemicals, Shreeji Chemicals, Fibrant, jigchem Universal, Innova Corporate and Arihant chemicals.
Cyclohexanone Market, By Application, 2014-2025 (Tons) (USD Million)
- Nylon Production
Cyclohexanone Market, By End-Use, 2014-2025 (Tons) (USD Million)
- Textile Industry
- Printing and Dying Industry
- Agricultural Industry
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Dow chemicals
- Gujarat State Fertilizers & Chemicals
- Domo chemicals
- Shreeji Chemicals
- jigchem Universal
- Innova Corporate
- Arihant chemicals
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