Cyclohexanone Market Analysis | Report Analysis, Demand, Growth, Revenue, Research, Industry Trends, COVID-19 Impact, and Forecasts (2021 - 2027)
The Global Cyclohexanone Market Analysis is the subject of the latest research report from Market Research Future (MRFR). The report studies the global cyclohexanone market in detail to understand the major drivers and restraints affecting the market’s growth and provides a comprehensive overview of the market’s likely growth trajectory over the forecast period from 2019 to 2024. The key economic factors in the market’s environment are also studied in the report in order to provide readers with a complete overview of the major economic factors likely to have an impact on the global cyclohexanone market. Key players in the global cyclohexanone market are also studied in the report.
The global Cyclohexanone
Market Analysis is mainly driven by the growing demand for
nylon. Cyclohexanone is used as an intermediate in the production of nylon 6
and nylon 6,6; it is used to produce precursors that are further processed to
produce nylon products. The growing demand for nylon is primarily driven by the
growing demand for nylon in technical textile applications. Nylon is widely
used in the production of various safety suits used in the manufacturing and
processing sectors. The growing awareness about workplace injuries and hazards
has driven the demand for protective clothing, with organizations such as OSHA
and others taking firm steps to make sure companies utilize protective clothing
across the board in order to ensure employee safety. Growing awareness about
protective clothing in Asia Pacific is likely to be a major driver for the
cyclohexane market, due to the growing volume of industrial production in the
region.
Apart from textiles, the paints and coatings
industry also holds a significant stake in the global cyclohexane industry. The
global paints and coatings industry is expected to provide the cyclohexane
market with strong impetus over the coming years due to the growing demand for
paints and coatings that can stand up to environmental factors such as
moisture. The increasing demand for paints and coatings that last longer and
have less impact on the environment than conventional paints and coating
products is likely to be a major driver for the cyclohexanone market over the
forecast period.
On the other hand, What Is
Cyclohexanone Used For increasing competition from natural
fibers and the high initial investment required in the cyclohexanone industry
are likely to hold the market back.
Competitive Analysis:
Leading players in the global cyclohexanone market
include Henan Haofei Chemical Co. Ltd., Sigma-Aldrich, Asahi Kasei
Corporation, Lanzhou Auxiliary Agent Plant Co. Ltd., Shanghai Mintchem
Development Co. Ltd., Keeneyes Inc., Ace Chemical Corp., Kawaguchi Chemical Co.
Ltd., Eastman Chemical Company, and Arkema.
- In July 2019, Canada confirmed a 2018 draft conclusion
that asserted the safety of cyclohexanone and 10 other chemicals for use
in industrial applications. The study was aimed at finding out the truth
about the environmental impact of 11 fragrance substances, including
cyclohexanone. This resolution spells good news for the global
cyclohexanone market, as the demand from the cyclohexanone market is
likely to grow in Canada in the coming years as a result.
Segmentation:
The global cyclohexanone market is
segmented on the basis of application, end use, and region.
By application, the global cyclohexanone market is
segmented into nylon, paints, lacquers and metal polishing, herbicides and
insecticides, pharmaceuticals, and others. The nylon segment dominates the
global cyclohexanone market, as up to 98% of the total cyclohexanone is
diverted to the production of nylon.
By end use, the global cyclohexanone
market is segmented into textile, agriculture, paints and coatings, healthcare,
and others. The textile segment holds the largest share in the global
cyclohexanone market, followed by paints and coatings.
Regional Analysis:
Asia Pacific holds the largest share
in the global cyclohexanone market and is likely to remain in the position over
the forecast period due to the growing nylon production in China. Other
industrial activities such as production of automobiles and paints and coatings
have also picked up speed in Asia Pacific in recent years, which is likely to
be a major driver for the cyclohexanone market in the region. North America and
Europe are also significant players in the global cyclohexanone market, with
the former holding the larger share of the two.
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