Cyclohexanone Market | Growth factor – Solventis, Luxi Chemical, Ube Industries, Fibrant
The Global Cyclohexanone Market 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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