Cyclohexane Market Growth Size 2021 - Comprehensive Research with Global Opportunities, Future Demand Forecast to 2027
Market Overview:
Nearly all cyclohexane is utilized to manufacture
cyclohexanol and cyclohexanone, which are used for the production of adipic
acid and caprolactam. As a result of cyclohexane’s intrinsic link to the
polyamide (Nylon) chain and its use in automobiles, construction, and textiles,
global cyclohexane demand remains strongly influenced by macroeconomic
conditions. Cyclohexane is largely consumed for the production of nylon 6
fibers, thermoplastics, and films.
Increasing crude oil production reduces the raw
material demand gap, rising demand for cyclohexane incorporated fibers for
textiles, and increasing automobile production fuels the nylon based
thermoplastics for manufacturing of automotive parts. Increasing urbanization
along with rising per capita disposable income in developed and developing
economies are predicted to drive the growth of the market over the forecast
period 2017-2023. High adoption rate along with the increasing number of
construction activities to meet the cyclohexane incorporated insulation
materials for the ever-growing population. Moreover, continuous expansion of
the automotive sector as well as shifting manufacturers focus towards
cost-effective and light weighted vehicles are estimated to fuel the growth of
the market during the review period, 2017-2023. However, growing environmental
concern regarding the toxic effect of chemicals used in cyclohexane along with
the implementation of strict regulations is predicted to hinder the market
growth over the assessment period, 2017-2023.
Regional Analysis
The Asia Pacific is estimated to be the
largest Cyclohexane Market followed by
North America and Europe due to the strong existence of crude oil reserves. In
Europe, Germany, Russia, and Spain are predicted to register a strong growth on
account of tremendous demand for cyclohexane in automotive parts manufacturing.
In the Asia Pacific, countries such as China, India, and South Korea are the
fastest growing market for cyclohexane and is estimated to grow at the same
pace over the forecast period. Improving living standards along with the
flourishing growth of the textile industry is predicted to contribute to the
regional market growth. In North America, the U.S. and Mexico are among the
major contributors to the regional market growth due to the expansion of
offshore and onshore activities as well as increasing innovations. In South
America, Mexico is expected to register a strong growth due to the robust presence
of automobile manufacturers.
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Segmentation
The global cyclohexane market is categorized on the
basis of application, end use industry, and region. On the basis of the
application, the cyclohexane market is categorized into nylon 6, nylon 66,
polyester polyol, and others. On the basis of the end use industry, the market
is bifurcated into food packaging, defense, textiles, automobile, electrical,
and others. On the basis of the region, the market is categorized into Asia
Pacific, Europe, Latin America, North America, and the Middle East &
Africa.
Key Players
Some of the prominent players operating in the
global cyclohexane market are Reliance Industries Limited (India), BASF
(Germany), The Dow Chemical Company (U.S.), Chevron Phillips Chemical Company
(U.S.), Clariant (Switzerland), China Petroleum & Chemical Corporation (China),
CEPSA (Spain), Idemitsu Kosan Co., Ltd. (Japan), CITGO Petroleum Corporation
(U.S.), and BP Refining & Petrochemicals GmbH (Germany).
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