Cyclic Ketones Market Size & Share, by Application (Pharmaceutical, Biological, Caprolactam, Adipic Acid, Solvents, Polycarbonates, Perfumes & Aromas, Rubber Chemicals, Insecticides) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5399
  • Published Date: Nov 27, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

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.


Cyclic Ketones Market Overview
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Cyclic Ketones Market: Key Insights

Base Year

2023

Forecast Year

2024 - 2036

CAGR

~6%

Base Year Market Size (2023)

~USD 500 Million

Forecast Year Market Size (2036)

~USD 3 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Cyclic Ketones Sector: Growth Drivers and Challenges

Market-Growth-Drivers

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 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 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:

          Application

  • Pharmaceutical
  • Biological
  •  Caprolactam
  •  Adipic Acid
  •  Solvents
  •  Polycarbonates
  •  Perfumes and Aromas
  •  Rubber Chemicals
  •  Insecticides

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Cyclic Ketones Industry - Regional Synopsis

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.  

Research Nester
Cyclic Ketones Market Region
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Companies Dominating the Cyclic Ketones Landscape

top-features-companies
    • 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 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:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5399
  • Published Date: Nov 27, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing demand in end user sector and integration of sustainability energy goals are some of the major factors anticipated to drive the growth of the cyclic ketones market.

The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2024-2036.

The major players in the market are of Zeon Chemicals, Zhejiang NHU Co., Ltd, Xinyi Dongsheng Chemical Co., Ltd , Shandong Guorun Chemical Co., Ltd, and others.

The pharmaceuticals segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in North America is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Cyclic Ketones Market Report Scope
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