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Europe Cyclohexanone Market - Forecast(2024 - 2030)
Europe Cyclohexanone Market Overview
Report Coverage
The "Europe Cyclohexanone Market Report–Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments in the Europe Cyclohexanone Market.
By Application: Nylon Intermediates (Adipic Acid and Caprolactam), Dyes, Pesticides, Pharmaceuticals Synthesis, Films, Soaps, Adhesives and Sealants, Rubber, Paints and Coatings, Semiconductors, Display Panels and Others
By End-Use Industry: Building and Construction (Residential, Commercial, Industrial and Infrastructure), Textile (Coated Textile, Impregnation Textile and Others), Automotive (Passenger Cars (PV), Light Commercial Vehicles (LCV) and Heavy Commercial Vehicles (HCV)), Personal Care, Electronics (Liquid Crystal Display (LCD), Smartphones, Computers and Others), Agriculture, Medical and Healthcare and Others
By Country: UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium and Rest of Europe
Key Takeaways
- Italy dominated the Europe Cyclohexanone Market, owing to the textile industry growth in the country. For instance, according to the Italian Fashion Chamber (CNMI), in 2021, the textiles, apparel, accessories, jewelry and beauty products sector reached €82.85 billion (US$97.99 billion), representing a 20.5 percent increase over 2020.
- The factors such as European country's government initiatives for residential houses, increasing demand for commercial space and other similar factors are propelling the demand for paints and coatings. This, in turn, is aiding the Europe cyclohexanone industry growth.
- Moreover, the surge in agriculture production in Europe to ensure superior food security in the region is fueling the demand for pesticides. As a result, the growth of pesticides will create an opportunity for market growth in Europe in the upcoming years.
- Nonetheless, the health hazards associated with cyclohexanone may create a bottleneck for the market growth in Europe during the projected forecast period.
Figure: Europe Cyclohexanone Market Revenue, 2021-2027 (US$ Billion)
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Europe Cyclohexanone Market Segment Analysis – By Application
The nylon intermediates segment held the largest Europe Cyclohexanone Market share in 2021 and is forecasted to grow at a CAGR of 3.6% during the forecast period 2022-2027. The cyclohexanone consists of a six-carbon cyclic molecule with a ketone functional group. It has various key properties, including a molecular mass of 98.14 g/mol, a boiling point of 312.1 ° F / 155.6 at 760 mm Hg, a melting point of 3 ° F / -16.1 ° C, a vapor pressure of 101.7 ° F at 10 mm Hg and other properties that contribute to the intermediates' base. Thus, owing to these properties, cyclohexanone is utilized alone or in a mixture in the production of nylon intermediates such as adipic acid and caprolactam. For instance, according to the Fibrant, a leading manufacturer of cyclohexanone, nylon intermediates such as adipic acid and caprolactam have a dominant cyclohexanone market share in Europe. Hence, the increasing use of cyclohexanone in the production of nylon intermediates is propelling the European cyclohexanone market forward.
Europe Cyclohexanone Market Segment Analysis – By End-Use Industry
The textile segment held the largest Europe Cyclohexanone Market share in 2021 and is forecasted to grow at a CAGR of 4.7% during the forecast period 2022-2027. Cyclohexanone is employed in the textile industry to ensure superior fabric durability. The advancement of textile manufacturing technology, recent investment in the new facility developments and others are the crucial determinants driving the textile industry growth in Europe. For instance, according to the European Apparel and Textile Confederation (EURATEX), in the year 2019, the textile industry of the European Union was valued at €162 billion (US$181.35 billion), an increase of 2.7% over 2018. Thus, the growth of the textile industry in Europe is fueling the demand for nylon. As a result, the demand for cyclohexanone is surging, which in turn, is driving the Europe Cyclohexanone Market growth.
Europe Cyclohexanone Market Segment Analysis – By Geography
Italy is the dominating country as it held the largest Europe Cyclohexanone Market share in 2021 up to 30%. Italy's economic growth is being fueled by the expansion of some of its major industrial sectors, including textile, automotive, construction and others. The surge in consumer spending on textile products, increasing government initiatives in the textile industry and other factors are accelerating the growth of the textile industry in Italy. For instance, the Italian Federation of Textiles, Fashion and Accessories, the overall performance of Made-in-Italy textiles in 2021 showed a broadly positive trend when compared to 2020. Furthermore, the Made in Italy textiles market was valued at more than Euro 5.8 billion (US$6.9 billion) in 2021, representing a 9.6 percent increase over 2020. Textiles generated a surplus equal to approximately 13.5 percent of the overall trade balance of the textiles-fashion apparel supply chain, accounting for 11.1 percent of total sales generated by the textiles-fashion apparel supply chain. Therefore, the textile industry growth in Italy is expected to boost the demand for cyclohexanone, which, in turn, will boost the Europe Cyclohexanone Market size in coming years.
Europe Cyclohexanone Market Drivers
Growth of Pharmaceutical Industry
Cyclohexanone consisting of ketone and aldehydes property is used as an additive in pharmaceutical intermediates to improve the rate of oxidation to ensure the stability of pharmaceutical medicines. The increasing demand for pharmaceutical medicines for various diseases prevent, government initiatives for the pharmaceutical industry and others are the vital determinants aiding the pharmaceutical industry growth in Europe. For instance, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), in 2020, the total production of pharmaceuticals in Europe was EURO 310,000 million (approximately US$354,080.76 million), an increase of 5.7%. Moreover, in 2019, Switzerland was the leading manufacturer of pharmaceuticals in the European region. In 2018, the pharmaceutical production in Switzerland was EURO 45,885 million (US$54,188.12 million) and in 2019, it was EURO 54,305 million (US$60,793.09 million), an increase of 18.35%. Thus, the growth of the pharmaceutical industry in Europe is fueling the demand for pharmaceutical intermediates. This, in turn, is driving the market growth in Europe.
Surging Application of Paints and Coatings
In the paints and coatings industry, cyclohexanone is utilized as an effective solvent to ensure resilience to adverse weather during the curing process. The key factors such as growing demand for repainting and new construction are propelling the growth of the paints and coatings industry. For instance, according to British Coatings Federation (BCF), due to continued strong consumer demand for DIY commodities such as paints and wall coverings, as well as a strong manufacturing and construction industry rebound, the first 5 months of 2021 achieved remarkable sales results in both industrial and decorative coatings in the United Kingdom. Overall, paint and coatings sales in the UK increased by 24% compared to the same period in 2020. Hence, the surging application of paints and coatings in Europe is accelerating the demand for cyclohexanone, which, in turn, is expanding the market growth.
Europe Cyclohexanone Market Challenges
Health Concerns Associated with the Use of Cyclohexanone
Cyclohexanone is a hazardous substance and its use in manufacturing poses health risks and environmental damage. The reason the paints and coatings, pharmaceutical intermediate and others use a cyclohexanone substitute is to avoid the risks associated with cyclohexanone exposure. Cyclohexanone can cause irritation and damage to the respiratory tract, as well as nausea, depression and headaches. Thus, owing to such health problems associated with the use of cyclohexanone, the European organizations have labeled it on the hazard list. For instance, According to the European Union-approved Harmonised Classification and Labelling (CLP00), cyclohexanone is a flammable liquid and vapor that is hazardous to one's health if inhaled. Therefore, such health concerns associated with the use of cyclohexanone may restrict the Europe cyclohexanone industry growth in the upcoming years.
Europe Cyclohexanone Industry Outlook
Technology launches, acquisitions and increased R&D activities are key strategies adopted by players in the Europe Cyclohexanone Market. The top companies in Europe Cyclohexanone Market are:
- BASF SE
- Domo Chemicals
- OSTCHEM
- Fibrant
- CEPSA
- NEOCHEMA GmbH & Co. KG
- Lanxess
- Huntsman
- Chevron Phillips Chemical Company LLC
- KuibyshevAzot PJSC
Report Code: CMR 0425
Caprolactam Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis
Report Code: CMR 0810
Textile Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis
Report Code: CMR 1435
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