Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Cyclic Ketones Market size was valued at USD 532.06 million in 2024 and is likely to cross USD 1.05 billion by 2037, registering more than 5.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of cyclic ketones is estimated at USD 556.48 million.
Due to the fact that most ketones are cyclic, large synthetic derivatives such as cyclohexanol and cyclopentanol have great potential for use in different chemical industries. Increasing demand for the most common types of polymer such as nylon, used in sporting clothing and gym equipment, is driving the demand for cyclic ketones in textile production.
Demand for cyclohexanone is also expected to increase as a functional group, where it acts as an intermediate and is consumed to produce precursors such as caprolactam and adipic acid. The growing demand for cyclohexanone, mainly as a chemical intermediate and solvent for various lacquers such as paints and plastics, is expected to increase in the coming years.
Cyclic Ketones Sector: Growth Drivers and Challenges
Growth Drivers
- High Demand in End User Sector - The compound cyclopentanone is the main driver for the cyclic ketones market as it has several applications in the synthesis of several chemical compounds in the pharmaceutical industry and its use as a flavoring chemical in the industry of perfumes and fragrances. During the projected period, growth in other end-use industries such as rubber products, pesticides, and increasing use in pharmaceuticals is expected to fuel cyclopentanone, due to which should benefit the cyclical ketone market.
- Integration of Sustainable Energy Goals - Various international business associations and government regulators have started drawing up time-bound targets to achieve the adoption of sustainable energy sources from biofuels due to the high use of depleting nonrenewable fossil fuels such as petrol, diesel, or gas which has caused worries about pollution. The development of new fuels that would be ideal energy sources for combustion engines, which could also lead to higher engine performance and a reduction in greenhouse gas emissions is being pursued by major players in the energy sector. Given that cyclic ketones are a biofuel with high resistance to auto dependence, which can further improve engine performance and reduce unhealthy emissions by future potential alternatives to petroleum-based fuels, this might be one of the possibilities for possible alternative fuel sources.
Challenges
- Fluctuation in Raw Material – The prices of raw materials used to produce cyclic ketones can fluctuate substantially that can impact the profitability of manufacturers. Furthermore, this is predicted to hamper the market expansion in the projected time period.
- Environmental Regulations are Expected to Pose Limitation on the Market Growth in the Upcoming Period
- High Production Cost is another Factor Hampering the Market Growth During the Estimated Period.
Cyclic Ketones Market: Key Insights
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Base Year |
2024 |
|
Forecast Year |
2025-2037 |
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CAGR |
5.4% |
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Base Year Market Size (2024) |
USD 532.06 million |
|
Forecast Year Market Size (2037) |
USD 1.05 billion |
|
Regional Scope |
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Cyclic Ketones Segmentation
Application (Pharmaceutical, Biological, Caprolactam, Adipic Acid, Solvents, Polycarbonates, Perfumes & Aromas, Rubber Chemicals, Insecticides)
In terms of application, the pharmaceutical segment in the cyclic ketones market is set to hold the largest share of 20 % during the time period between 2025 – 2037. Ketones, such as butanone and acetone, are widely used in the pharmaceutical industry as solvents, reagents and intermediates in the preparation of medicines and other pharmaceutical products. In particular, acetone is used as a solvent in the manufacture of many drugs, including vitamins, hormones and antibiotics.
Application (Pharmaceutical, Biological, Caprolactam, Adipic Acid, Solvents, Polycarbonates, Perfumes & Aromas, Rubber Chemicals, Insecticides)
Based on application, the adipic acid segment is expected to grow substantially by the end of 2036. The growth of this market can be driven by the increasing demand for adipic acid in the polyester industry. It is a key feedstock that is used in a wide variety of applications including packaging, textiles, and automotive parts. Furthermore, it is also used in the production of several construction materials such as adhesives and sealants.
Our in-depth analysis of the global market includes the following segments:
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Application |
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Customize this ReportCyclic Ketones Industry - Regional Synopsis
North American Market Forecasts
North America industry is estimated to dominate majority revenue share of 35% by 2037, impelled by high demand in polymer production in the region. . As a result of the increasing demand for specialty polymers, such as nylon etc., and more textile materials in this part of the world, the USA and Canada are considered to be one of the main markets for cyclic ketones. The growth in the ketones market was also supported by increased demand for intermediates such as cyclohexanone to produce Adipic acid, which is further processed into textile products manufactured in the United States and Canada. With the presence of a large number of primary manufacturers, such as several textile producers, and strong demand for end-use industries in the USA, this sector is expected to grow significantly.
APAC Market Statistics
The cyclic ketones market in the Asia Pacific region is expected to grow significantly by the end of 2037. Asia Pacific demand outlook for cyclopentanes owing to the substantial growth of the chemical and textile sectors, as well as a strong demand on cyclopentanes in the countries of Asia Pacific for utilization in fragrance or aroma products raises the demand for cyclic ketones in this region during the set period.
Companies Dominating the Cyclic Ketones Landscape
- BASF SE
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Gujarat State Fertilizers and Chemicals Ltd
- Sigma-Aldrich
- Zeon Chemicals
- Zhejiang NHU Co., Ltd
- Xinyi Dongsheng Chemical Co., Ltd
- Shandong Guorun Chemical Co., Ltd
- Alfa Aesar
- Merck KGaA
In the News
- In 2020, BASF SE announced that it had completed the acquisition of the polyamide business from Solvay SA for EUR 1.3 billion. This acquisition was aimed at expanding BASF's product range in the engineering plastics market.
- Merck KGaA announced in 2019 that it had completed the acquisition of Versum Materials, Inc. for USD 6.5 billion. The acquisition was designed to expand the offering of Merck's products in the field of electronic and display technologies.
Author Credits: Rajrani Baghel
- Report ID: 5399
- Published Date: Jan 03, 2025
- Report Format: PDF, PPT
