H1 2023: In H1 2023, the Asia Pacific region emerged as the biggest consumer of Cyclohexanone. At the commencement of H1 2023, Cyclohexanone prices remained robust in China's market. The production reduction during the Spring festival holidays, due to a limited workforce, positively influenced Cyclohexanone price dynamics. Smooth transportation and logistics ensued, and manufacturing activities were bolstered in China in Feb. Market participants expressed optimism regarding demand from the downstream Automotive and Textile industry. However, despite these positive factors, no substantial inquiries were noted in Chinese markets, resulting in a decline in the market value of Cyclohexanone by March 2023. April onwards, Cyclohexanone experienced a bearish market trend across the Asia Pacific region. The decline in feedstock chemical prices, such as benzene and phenol, played a significant role in the overall reduction of Cyclohexanone prices. Substantial decreases in downstream demand were observed in the construction and automobile sectors in the Chinese market. The Chinese automotive sector exhibited mixed market sentiments, with demand decreasing until May 2023 and a gradual recovery in June 2023. In Japan, low downstream industrial demand for Textiles persisted, leading to downward pressure on prices due to high production and inventories resulting in prices of Cyclohexanone being continuously declining from March-June 2023.
The global Cyclohexanone market stood at approximately 3700 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 3.5% during the forecast period until 2032. Cyclohexanone, a cyclic six-carbon molecule featuring a ketone functional group. Its high solubility makes it a sought-after product across various industries. Predominantly employed in Adipic Acid production, it also enjoys widespread applications in sectors like pesticides, paints, adhesives, and others. With slight solubility in water and compatibility with common organic solvents, Cyclohexanone is derived from Cyclohexane oxidation using cobalt salts. It is often a by-product in the Cyclohexanol manufacturing process.
Cyclohexanone works as a key intermediate in Adipic Acid production, which further contributes significantly to the manufacturing of nylon. In the pesticide industry, Cyclohexanone is incorporated into formulations to enhance the efficacy of agricultural products. Its solubility properties make it a valuable solvent in the paints and coatings industry, facilitating the formulation of various products. In the adhesives industry, Cyclohexanone's solvent properties ensure robust bonding in various applications. Additionally, it serves as a precursor in the production of Cyclohexanol, a vital industrial chemical. Acting as a versatile chemical intermediate, Cyclohexanone participates in the synthesis of various organic compounds. Widely used in laboratory settings, it functions as a reagent for chemical reactions and experiments. Cyclohexanone plays a vital role in the production of precursors for both Nylon 6,6 and Nylon 6. The industry's growth is fuelled by the surging demand for Nylon, a widely utilized material in diverse global end-user industries. The market is categorized based on applications, including Caprolactam, adipic acid, solvents, and others. Cyclohexanone is predominantly employed in the manufacturing processes of Caprolactam and Adipic acid. Particularly, the Caprolactam segment holds the largest market share, driven by increasing demand from the automotive and textile sectors. The expanding market for cyclohexanone is driven by the extensive utilization of nylon in both commercial and industrial applications. The global Cyclohexanone market is anticipated to reach nearly 5200 thousand tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of Cyclohexanone. The Cyclohexanone market in the Asia Pacific region is poised for significant growth, propelled by the escalating demand for Caprolactam and Adipic Acid. Factors such as the ready availability of labour and funding to support industrial expansion, particularly in emerging economies like China and India, further contribute to the positive market outlook for Cyclohexanone in the region. The expanding market in China and India, driven by the presence of key global players, is a substantial catalyst for the growth of the Asia Pacific market. Asia stands as the foremost producer of cyclohexanone, with a considerable consumption of various products derived from the chemical, including adipic acid, caprolactam, and solvents, within the region.
Based on the end-user industry, the global Cyclohexanone market is divided into Automotive, Paints and Coatings, Textile, Construction, and Others. However, Automotive is the major segment and held approximately 32% of the global Cyclohexanone market in 2022.
Major players in the Global Cyclohexanone market are BASF SE, Asahi Kasei Corporation, Gujarat State Fertilizers & Chemicals Ltd (GSFC), Ostchem, DOMO Chemicals, Fibrant, Shreeji Chemical, Jigchem Universal, Arihant Solvents & Chemicals, Qingdao Hisea Chem Co., Ltd., LUXI Group, Taiwan Prosperity Chemical Corporation (TPCC), and Ube Industries, Ltd.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Cyclohexanone which covers production, demand and supply of Cyclohexanone market in the globe.
• To analyse and forecast the market size of Cyclohexanone
• To classify and forecast Global Cyclohexanone market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Cyclohexanone market in the globe.
To extract data for Global Cyclohexanone market, primary research surveys were conducted with Cyclohexanone manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Cyclohexanone market over the coming years.
ChemAnalyst calculated Cyclohexanone demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Cyclohexanone. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Cyclohexanone manufacturers and other stakeholders
• Organizations, forums and alliances related to Cyclohexanone distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Cyclohexanone manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Cyclohexanone market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
3700 thousand tonnes
Market size Volume in 2032
5200 thousand tonnes
Growth Rate
CAGR of 3.5% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Automotive, Paints and Coatings, Textile, Construction, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Cyclohexanone market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Cyclohexanone.
3. Capacity By Location
To better understand the regional supply of Cyclohexanone by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Cyclohexanone by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Automotive, Paints and Coatings, Textile, Construction, and Others) are creating a market and the forecast for the growth of the Cyclohexanone market.
7. Demand by Region
Analyzing the change in demand of Cyclohexanone in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Cyclohexanone. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Cyclohexanone.
10. Company Share
Figure out what proportion of the market share of Cyclohexanone is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Cyclohexanone.
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of Cyclohexanone in terms of volume in 2022?
Ans:
The global market size of Cyclohexanone had reached approximately 3700 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Cyclohexanone?
Ans:
Asia Pacific region is the leading consumer of Cyclohexanone globally.
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