The Global Cyclohexanone Market size is expected to reach $10.4 billion by 2030, rising at a market growth of 3.5% CAGR during the forecast period. In the year 2022, the market attained a volume of 5,442.50 kilo tonnes, experiencing a growth of 0.69% (2019-2022).
The growing automotive, construction, electronics, and consumer goods industries rely heavily on it for applications like paints, coatings, adhesives, and electronics manufacturing. Thus, the Asia Pacific region acquired 65.1% revenue share in the market 2022. The emergence of new health challenges, such as infectious diseases, environmental pollution, and aging-related illnesses, has spurred demand for innovative treatments and therapies.
Bio-based feedstocks for its production are derived from renewable resources such as biomass, agricultural residues, or bio-waste. These renewable feedstocks provide a sustainable substitute for depleting fossil fuels, which increase carbon emissions by lowering dependency on non-renewable resources and lessening environmental effects.
Additionally, urbanization leads to greater adoption of electronic devices and household appliances in urban households. Many electronic gadgets, appliances, and components incorporate nylon-based materials due to their electrical insulation properties, mechanical strength, and resistance to heat and chemicals. Thus, these aspects can boost the demand for it in the upcoming years.
However, Developing and adopting new technologies for its production entail inherent risks and uncertainties. Innovative solutions are not guaranteed to successfully address all operational challenges or achieve desired outcomes such as improved efficiency or reduced environmental impact. Hence, these aspects can lead to decreased demand in the market.
The growing automotive, construction, electronics, and consumer goods industries rely heavily on it for applications like paints, coatings, adhesives, and electronics manufacturing. Thus, the Asia Pacific region acquired 65.1% revenue share in the market 2022. The emergence of new health challenges, such as infectious diseases, environmental pollution, and aging-related illnesses, has spurred demand for innovative treatments and therapies.
Bio-based feedstocks for its production are derived from renewable resources such as biomass, agricultural residues, or bio-waste. These renewable feedstocks provide a sustainable substitute for depleting fossil fuels, which increase carbon emissions by lowering dependency on non-renewable resources and lessening environmental effects.
Additionally, urbanization leads to greater adoption of electronic devices and household appliances in urban households. Many electronic gadgets, appliances, and components incorporate nylon-based materials due to their electrical insulation properties, mechanical strength, and resistance to heat and chemicals. Thus, these aspects can boost the demand for it in the upcoming years.
However, Developing and adopting new technologies for its production entail inherent risks and uncertainties. Innovative solutions are not guaranteed to successfully address all operational challenges or achieve desired outcomes such as improved efficiency or reduced environmental impact. Hence, these aspects can lead to decreased demand in the market.
By Application Analysis
Based on application, the market is segmented into caprolactam, adipic acid, solvents, and others. The caprolactam segment held 67.4% revenue share in the market in 2022. In particular, the automotive and textiles sectors have witnessed significant growth, driving the demand for nylon-6 and its precursor, caprolactam.
By Regional Analysis
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the Europe region acquired 17.4% revenue share in the market. Europe has been at the forefront of environmental regulations and sustainability initiatives, driving the adoption of eco-friendly products and processes.List of Key Companies Profiled
- Sinopec Group (China Petrochemical Corporation)
- BASF SE
- Domo Chemicals GmbH
- BP p.l.c.
- Idemitsu Kosan Co., Ltd.
- Thermo Fisher Scientific, Inc.
- Chevron Phillips Chemical Company LLC
- Koninklijke DSM N.V.
- Asahi Kasei Corporation
- Cepsa (COMPAÑÍA ESPAÑOLA DE PETRÓLEOS, S.A.)
Market Report Segmentation
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)- Caprolactam
- Adipic Acid
- Solvents
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Global Cyclohexanone Market, By Application
Chapter 5. Global Cyclohexanone Market, By Region
Chapter 6. Company Profiles
Companies Mentioned
- Sinopec Group (China Petrochemical Corporation)
- BASF SE
- Domo Chemicals GmbH
- BP p.l.c.
- Idemitsu Kosan Co., Ltd.
- Thermo Fisher Scientific, Inc.
- Chevron Phillips Chemical Company LLC
- Koninklijke DSM N.V.
- Asahi Kasei Corporation
- Cepsa (COMPAÑÍA ESPAÑOLA DE PETRÓLEOS, S.A.)
Methodology
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