Cyclic Ketones Market size is expected to cross USD 3 Billion by the end of 2036, expanding around 6% CAGR during the forecast period i.e., 2024-2036. In the year 2023, the industry size of cyclic ketones was over 500 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.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024 - 2036 |
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CAGR |
~6% |
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Base Year Market Size (2023) |
~USD 500 Million |
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Forecast Year Market Size (2036) |
~USD 3 Billion |
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Regional Scope |
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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 2024 – 2036. 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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North American Market Forecasts
The cyclic ketones market in the North America region is anticipated to hold the highest market share of 35% by the end of 2036. 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 2036. 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.
Author Credits: Smruti Ranjan, Rajrani Baghel
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