Cyclooctane (COAN) Market: Introduction
- Cyclooctane is a cyclohexane with the molecular formula (CH2)8. Cyclohexane is insoluble in water and colorless in appearance. It is employed in the production of adipic acid and caprolactum, which are intermediates in the production of nylon. Cyclohexane is utilized to produce cyclohexanol and cyclohexanone for precursor usage. The key processes through which cyclohexane can be produced are cracking of natural gasoline and hydrogenation of benzene.
- Cyclohexane can also be utilized as a solvent in reaction diluents and in the chemical synthesis. Cyclohexane is also used as a starting material in the production of KA oil and utilized as a substitute for benzene in some applications. Cyclohexane is employed in various industries such as automotive, textile, paints & coatings, construction, and thermoplastics.
- Cyclohexane is also used as a solvent for resins and lacquers; for varnishes and paint removers; in extraction of essential oils; in production of cyclohexyl chloride, cyclohexanol, nitrocyclohexane; in analytical chemistry for determining the molecular weight; as a solid fuel for camp stoves; in industrial recrystallization of steroids; in fungicidal formulations; and in synthetic rubber solvents
Key Drivers of Global Cyclooctane (COAN) Market
- Increasing adoption of cyclooctane (COAN) as a solvent and a reaction diluent as well as in chemical synthesis is a major factor boosting the demand for cyclooctane. This, in turn, is projected to drive the global cyclooctane (COAN) market during the forecast period. Cyclooctane (COAN) is used for the manufacture of customized aerodynamic parts and prosthetics.
- Demand for cyclooctane (COAN) is rising, as it can undergo oxidation with hydrogen peroxide in the presence of triethylpropylammonium-functionalized silica as well as transition metal mono-substituted polyoxotungstates. This is another factor estimated to drive the global cyclooctane (COAN) market during the forecast period.
- Rising demand for cyclooctane (COAN) for use in various applications, such as rubber products, is another factor expected to propel the global cyclooctane (COAN) market in the near future. Demand for cyclooctane (COAN) for use in the production of analytical reagents is also estimated to rise significantly during the forecast period.
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Significant Growth of Global Automotive Industry
- Based on application, the global cyclooctane (COAN) market can be segmented into adipic acid, caprolactam, and others. The adipic acid segment is projected to witness rapid growth during the forecast period.
- Based on end-use industry, the global cyclooctane (COAN) market can be divided into automotive, paints & coatings, textile, construction, and others. The automotive segment is projected to witness significant growth during the forecast period, owing to rapid growth of the automotive manufacturing sector in developed as well as developing countries.
Asia Pacific to be a Key Market for Cyclooctane (COAN)
- In terms of region, the global cyclooctane (COAN) market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to account for a major share of the global cyclooctane (COAN) market during the forecast period. Demand for cyclooctane (COAN) from the rapidly growing automotive industry in the region, particularly in countries such as India and China, is projected to rise during the forecast period. Moreover, the demand for paint and coating products in Asia Pacific is rising, owing to high demand from the construction industry in the region. Additionally, unique applications and features of cyclooctane (COAN) are expected to offer significant opportunities to cyclooctane producers in Asia Pacific during the forecast period.
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Key Manufacturers Operating in Global Market
- The global cyclooctane (COAN) market was highly fragmented in 2018 and the trend is expected to continue throughout the forecast period. Major market participants are engaged in substantial R&D activities in order to expand their product offerings. Key manufacturers operating in global market are:
- BASF SE
- Chevron Phillips Chemical
- Idemitsu Kosan
- Petroleos de Venezuela
- PTT Global Chemical Public Company
- Reliance Industries
- Sunoco Chemicals
- UCC SHCHEKINOAZOT
Global Cyclooctane (COAN) Market: Research Scope
Global Cyclooctane (COAN) Market, by Application
- Adipic Acid
Global Cyclooctane (COAN) Market, by End-use Industry
- Paints & Coatings
Global Cyclooctane (COAN) Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa