Global Cyclohexanone Market: Introduction
Cyclohexanone is a chemical which is widely used as a solvent. It is an organic compound and is a colorless oil with its odor being similar to peppermint and acetone. Cyclohexanone is a hazardous liquid and can be identified based on its appearance – it’s colorless to light yellow. Cyclohexanone easily dissolves in cold water and the offered compound is widely used to produce various precursors of nylon. Approximately 95% of the manufactured produced is used in the production of nylons. The most important application of cyclohexanone is that it acts as a chemical intermediate in the production of adipic acid and in the manufacturing of caprolactam. Cyclohexanone is an excellent solvent for DDT and organic phosphorous pesticides and insecticides. Cyclohexanone is used for the synthesis of cycloamines, pharmaceuticals, rubber chemicals, dyes, plasticizers, herbicides and plant growth regulators, among others. Cyclohexanone finds wide end-use applications. For instance, it acts as an intermediate in the production of caprolactam and adipic acid, fertilizers, pharmaceuticals, coatings, films, soaps and others.
Global Cyclohexanone Market: Dynamics
The primary driver for the cyclohexanone market is the nylon industry. Personal protective equipment are quite popular these days in the manufacturing sector owing to the stringent regulations revolving around safeguarding workers’ safety, which promotes the use of engineered fiber products, such as nylon, which in turn will drive the cyclohexanone market throughout the forecast period. In addition to this, technological innovations with regard to the development of new fabric products derived from coated fabrics will also create opportunity paths for the cyclohexanone market globally.
The cyclohexanone market will see opportunities with improvements in product technology and growth in application areas. However, the growth in nylon industry directly affects the consumption of cyclohexanone. This might act as a restraining factor for the cyclohexanone market across the globe. The competition for nylon from other fibers might be a major threat for the cyclohexanone market. Polyesters have been showing reliable growth, which might create sluggish demand for nylon and in turn, reduce the demand for cyclohexanone.
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Research and development is a key part of the cyclohexanone market. Manufacturing companies, end product manufacturers and associations are infusing high investments to facilitate technology modifications and future advancements of cyclohexanone. This will create opportunities in the cyclohexanone market throughout the forecast period.
The most recent trend witnessed in the cyclohexanone market is that manufacturers are coming up with improved product technology, which will increase the area of applications. Structural & regulatory restrictions and penetrating market growth are projected to act as barriers to the growth of the cyclohexanone market, though improved product technology and increase in application areas are anticipated to fade the effects of these restrictions.
Global Cyclohexanone Market: Segmentation
On the basis of application, the global cyclohexanone market can be segmented into:
- Paint and dyes
Global Cyclohexanone Market: Region-wise Outlook
Asia-Pacific is anticipated to show tremendous growth potential owing to its high production capacity for finished goods. The high volume of production of finished goods in China is expected to drive the cyclohexanone market in Asia-Pacific. China is expected to show highest growth rate during the forecast period and is expected to gain substantial market share. Europe is anticipated to hold a major share in the cyclohexanone market and account for over one quarter of the global consumption. It will be followed by North America and Asia-Pacific.
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Global Cyclohexanone Market: Key Players
Asia-Pacific is projected to be the largest region, both in terms of value and volume, and will be followed by North America and Europe. Germany, U.S., China, Japan, India, Russia, among others, are expected to show successful markets. Some of the key players identified across the value chain of the Global Cyclohexanone Market are Gujarat State Fertilizers & Chemicals Ltd, Asahi Kasei Corporation, Paari Chem Resources, Domo Chemicals, Akshat Solvochem, Shreeji Chemical, Jigchem Universal, Innova Corporate (India), Arihant Chemicals, Fibrant, Ostchem and others.