“Global Cyclohexanone Market to reach a market value of USD 10.4 Billion by 2030 growing at a CAGR of 3.5%”
The Global Cyclohexanone Market size is expected to reach $10.4 billion by 2030, rising at a market growth of 3.5% CAGR during the forecast period. In the year 2022, the market attained a volume of 5,442.50 kilo tonnes, experiencing a growth of 0.69% (2019-2022).
The growing automotive, construction, electronics, and consumer goods industries rely heavily on it for applications like paints, coatings, adhesives, and electronics manufacturing. Thus, the Asia Pacific region acquired 65.1% revenue share in the market 2022. The emergence of new health challenges, such as infectious diseases, environmental pollution, and aging-related illnesses, has spurred demand for innovative treatments and therapies.
Bio-based feedstocks for its production are derived from renewable resources such as biomass, agricultural residues, or bio-waste. These renewable feedstocks provide a sustainable substitute for depleting fossil fuels, which increase carbon emissions by lowering dependency on non-renewable resources and lessening environmental effects.
Additionally, urbanization leads to greater adoption of electronic devices and household appliances in urban households. Many electronic gadgets, appliances, and components incorporate nylon-based materials due to their electrical insulation properties, mechanical strength, and resistance to heat and chemicals. Thus, these aspects can boost the demand for it in the upcoming years.
However, Developing and adopting new technologies for its production entail inherent risks and uncertainties. Innovative solutions are not guaranteed to successfully address all operational challenges or achieve desired outcomes such as improved efficiency or reduced environmental impact. Hence, these aspects can lead to decreased demand in the market.
Based on application, the market is segmented into caprolactam, adipic acid, solvents, and others. The caprolactam segment held 67.4% revenue share in the market in 2022. In particular, the automotive and textiles sectors have witnessed significant growth, driving the demand for nylon-6 and its precursor, caprolactam.
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the Europe region acquired 17.4% revenue share in the market. Europe has been at the forefront of environmental regulations and sustainability initiatives, driving the adoption of eco-friendly products and processes.
Free Valuable Insights: Global Cyclohexanone Market size to reach USD 10.4 Billion by 2030
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 8 Billion |
| Market size forecast in 2030 | USD 10.4 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 3.5% from 2023 to 2030 |
| Number of Pages | 185 |
| Number of Table | 350 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Application, Region |
| Country scope |
|
| Companies Included | Sinopec Group (China Petrochemical Corporation), BASF SE, Domo Chemicals GmbH, BP p.l.c., Idemitsu Kosan Co., Ltd., Thermo Fisher Scientific, Inc., Chevron Phillips Chemical Company LLC, Koninklijke DSM N.V., Asahi Kasei Corporation, Cepsa (COMPAÑÍA ESPAÑOLA DE PETRÓLEOS, S.A.) |
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
The Market size is projected to reach USD $10.4 billion by 2030.
Shift towards bio-based feedstocks are driving the Market in coming years, however, Raw material availability and price volatility restraints the growth of the Market.
Sinopec Group (China Petrochemical Corporation), BASF SE, Domo Chemicals GmbH, BP p.l.c., Idemitsu Kosan Co., Ltd., Thermo Fisher Scientific, Inc., Chevron Phillips Chemical Company LLC, Koninklijke DSM N.V., Asahi Kasei Corporation, Cepsa (COMPAÑÍA ESPAÑOLA DE PETRÓLEOS, S.A.)
In the year 2022, the market attained a volume of 5,442.50 kilo tonnes, experiencing a growth of 0.69% (2019-2022).
The Asia Pacific region dominated the Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6.8 billion by 2030.
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 