September 24, 2019

Cyclohexanone Market Global Industry Growth Analysis, Size, Share, Trend, Future Demand and Leading Players Updates by Forecast to 2024

Market Summary:

The Global Cyclohexanone Market is projected to exhibit a CAGR of over 8.6% during the forecast period, owing to the increasing application of Cyclohexanone in numerous end-use industries such as textile, healthcare, paints and coatings, agricultural, and others. These compounds, about 95%, are majorly used in the production of nylon. Additionally, the Global Cyclohexanone Market is expected to grow due to the rise in the personal protective clothing sector in recent years. The increasing application of Cyclohexanone compound in nylon is expected to boost the cyclohexanone market share during the forecast period.

Competitive Analysis:

The Key Players Operating in the Global Cyclohexanone Market are ACE CHEMICAL CORP. (China), Shanghai Mintchem Development Co, Ltd (China), Eastman Chemical Company (US), Kawaguchi Chemical Co., Ltd. (Japan), Keeneyes Inc. (China), Arkema (France), Lanzhou Auxiliary Agent Plant Co., Ltd (China), Henan Haofei Chemical Co, Ltd (China), Asahi Kasei Corporation (Japan), and Sigma-Aldrich (US).

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Segment Analysis:

The Global Cyclohexanone Market Report has been segmented based on Application and End-Use Industry.

Based on Application, the Global Cyclohexanone Industry has been segmented into nylon, paints, lacquers & metal polishing, herbicides & insecticides, pharmaceutical drugs, and others. Nylon is expected to attract the majority of the traction in the market, as 95% of the Cyclohexanone produced across the globe is used to produce nylon 6 and nylon 6,6. These products, due to their high melting points and excellent resistance to wear find application in sportswear, aesthetic apparels, automotive interior, and others. The nylon market is expected to cross 35 billion by 2023, which is subjected to the growth of electronics, automotive, packaging, consumer packaged goods (CPG), and plastic products industries in developing regions such as South-East Asia and the Middle East & Africa. For instance, in the automotive industry, top players such as GM, Volkswagen, Toyota, and Ford use Nylon 6 for engine components which include bearing, bushings, oil containers, fuse boxes, crankcases, timing belts, and cylinder head covers. Furthermore, Nylon 66 has excellent wear resistance and lower moisture absorption properties, which makes it ideal for use in the electronics industry. Thus, owing to these factors, the nylon segment is expected to witness significant growth during the forecast period.

Based on End-Use Industry, the Global Cyclohexanone Market has been segmented into textile, agriculture, paints & coatings, healthcare, and others. The textile segment in 2018 accounted for the largest market share in terms of volume and is expected to maintain its dominance throughout the forecast period. This demand is attributed to the rise in demand for technical textile in the end-use industries such as automotive, construction, and packaging industries. The use of technical textile is increasing due to excellent wear resistance and high moisture absorption properties, and it acts as an insulator. Moreover, Cyclohexanone as a dye provides excellent uniformity of coloration, perspiration, and increases dimension stability to the textile end-product. Owing to these factors, the textile segment is expected to gain major traction in the Global Cyclohexanone Market during the forecast period.

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