Cyclohexanone Market | Growth, Revenue, Research, Trends, COVID-19 Impact, and Forecasts (2021 - 2027)
The Global Cyclohexanone Industry
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 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, 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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