Cyclohexane Market Outlook 2031:
The global cyclohexane market size was valued at USD 23.50 Billion in 2022 and is projected to reach USD 38.05 Billion by 2031, expanding at a CAGR of 5.5% during the forecast period 2023 - 2031. The growth of the market is attributed to increased production capacity for Nylon 6 and increased demand of caprolactam for engineering resins.
Cyclohexane is a flammable, colorless, volatile liquid hydrocarbon with the chemical formula C6H12 that is mostly produced from benzene hydrogenation. It is primarily utilized in the production of caprolactam and adipic acid, both of which may be used to make nylon. Resin, paint, and varnish may all be dissolved with cyclohexane.
Moreover, Nylon 6 is made through caprolactam polymerization, whereas Nylon 6,6 is made from adipic acid and hexamethylenediamine polymerization. The most prevalent industrial grade of nylon is Nylon 6. It has a reputation for being a robust, abrasion-resistant material with high tensile strength.
Nylon 6 resins are employed in a variety of automobile applications, including seat filling and upholstery. Nylon filaments can also be used to make passenger safety belts in vehicles, hoses, and other items. Rubbers in tires are also reinforced using multifilament nylon strands.
The COVID-19 pandemic had a negative impact on the market in 2020. During the pandemic scenario, car manufacture and construction were temporarily halted during the lockdown to prevent the COVID-19 virus from spreading.
The cyclohexane and its derivatives, such as nylon 6,6 -based items and nylon 6, such as passenger safety belts, hoses, ropes, carpeting fabric, and plastic vehicle components, have seen a drop in demand as a result of the shutdown. For example, worldwide vehicle output fell 15.8 percent in 2020 compared to 2019.
Cyclohexane Market Trends, Drivers, Restraints, and Opportunities
- Use of bio-based raw materials for the manufacturing, and the depletion of non-renewable resources drives the market growth during the forecast period.
- Tight regulations on VOC-emitting chemicals is likely to propel the market expansion in the coming years.
- Use of phenol in caprolactam manufacturing is a major hurdle that can hamper the market growth during the projected period.
- These materials are petrochemical downstream products and unpredictable raw material costs can hinder the market expansion.
- Increasing Nylon 66 investments in emerging countries such as China, India, and Saudi Arabia creates lucrative opportunities for the market growth.
Scope of the Cyclohexane Market Report
The report on the global cyclohexane market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Cyclohexane Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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End-users (Paints & Coatings, Textile, Construction, Automotive, and Others) and Applications (Caprolactam, Adipic Acid, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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BASF SE; Chevron Phillips Chemical Company LLC; Exxon Mobil Corporation; Merck KGaA; and Cepsa
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Cyclohexane Market Segment Insights
Textile segment to expand at a considerable CAGR
On the basis of end-users, the cyclohexane market is segmented into paints & coatings, textile, construction, automotive, and others. The textile segment is projected to expand at a considerable CAGR during the forecast period due to its excellent properties such as high tensile strength and low coefficient of friction for various applications in the textile products.
On the other hand, the construction and automotive segment is anticipated to account for a major market share during the forecast period owing to features it provides including chemicals, heat, and abrasion, which are widely useful for the construction activities and automotive products as well.
Caprolactam segment to hold a significant share of the market
In terms of applications, the market is divided into caprolactam, adipic acid, and others. The caprolactam segment is expected to hold a significant share of the market during the forecast period ascribed to rising demand for nylon 6 in various end-use industries.
However, the adipic acid segment is projected to account for a significant market share as it is mostly utilized in the manufacture of nylon 66.
Asia Pacific is anticipated to constitute a key market share
In terms of regions, the cyclohexane market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period owing to the high demand for caprolactam.
China is one of the largest market in Asia Pacific for cyclohexane and the rapid development of caprolactam production plants in China present another key factor boosting the regional market. However, the market of North America is anticipated to expand at a rapid pace during the forecast period due to the growing use of nylon goods as catalysts among several end-users based in the region.
Segments
The global cyclohexane market has been segmented on the basis of
End-users
- Paints & Coatings
- Textile
- Construction
- Automotive
- Others
Applications
- Caprolactam
- Adipic Acid
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global cyclohexane market are BASF SE; Chevron Phillips Chemical Company LLC; Exxon Mobil Corporation; Merck KGaA; and Cepsa.
Several market development strategies such as mergers and acquisitions are being adopted by various players in an attempt to diversify application portfolios and increase market share. Moreover, application development and customized applications are considered to be crucial parameters for market competition.