According to the report by Expert Market Research (EMR), the global cyclohexanone market size is projected to grow at a CAGR of 3.44% between 2023 and 2028. Aided by the growing demand for nylon-based products and the expanding applications of cyclohexanone across various industries, the market is expected to grow significantly by 2028.
Cyclohexanone is a versatile solvent and a key raw material used in the production of caprolactam, which is an intermediate in the manufacture of nylon products. It is also used in the production of coatings, adhesives, inks, and various other industrial products. Its properties, such as good solvency and polarity, make it a valuable ingredient in many industrial applications.
The increasing consumer preference for nylon-based products is driving the global cyclohexanone market growth. There has been a significant shift towards the usage of nylon in many applications as a result of the growing awareness of the durability and adaptability associated with nylon materials, which has resulted in an increase in demand for cyclohexanone-based products. Additionally, the growing preference for strong, lightweight materials in sectors like building and automotive has increased the appeal of cyclohexanone.
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In addition, the expanding applications of cyclohexanone in various industries also play a significant role in propelling the cyclohexanone market. In the pharmaceutical industry, cyclohexanone is used as a solvent and precursor in the synthesis of several pharmaceuticals. The coating industry utilises cyclohexanone for its excellent solvent properties, which are essential in the formulation of various paints and coatings. Furthermore, cyclohexanone’s good solvency makes it a desirable component in the manufacturing of adhesives and printing inks. Also, the increased use of cyclohexanone is driving up the need for flexible packaging and significantly accelerating the cyclohexanone market growth.
Moreover, the growing demand for robust and lightweight materials in the automotive and aerospace industries has led to an increased focus on cyclohexanone as a valuable component. With the rise of advanced materials and the increasing need for fuel efficiency, cyclohexanone has emerged as a critical component in the formulation of nylon composites, thereby boosting the cyclohexanone market expansion.
Market Segmentation
The market can be divided based on type, end user, application, and region.
Market Breakup by Type
- Cyclohexane
- Phenol
Market Breakup by End User
- Paints and Dyes
- Fertilisers
- Nylon Industry
- Pharmaceuticals
- Films
- Soaps
- Others
Market Breakup by Application
- Caprolactam
- Adipic Acid
- Solvents
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global cyclohexanone companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- DuPont de Nemours, Inc.
- Exxon Mobil Corporation
- BASF SE
- Qingdao Hisea Chem Co. Ltd
- Grupa Azoty S.A.
- Ube Industries, Ltd.
- Versalis S.p.A.
- Domo Caproleuna GmbH
- Fibrant B.V.
- Others
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