Synopsis of Cyclohexane Market
Cyclohexane is a flammable, and colorless liquid. At the industrial scale, it is produced by catalytic hydrogenation of benzene and it is majorly used in the production of adipic acid and caprolactam. More than 50% of the adipic acid is utilized to manufacture nylon 6 and caprolactam is utilized to produce nylon 66 materials. These materials have a major end use in manufacturing thermoplastics, fibers, polyesters and plasticizers. Polyester polyols are used to manufacture flexible foam, which is an important insulation material in the construction industry.
Cyclohexane is extensively used in the manufacturing of nylon materials. As per our analysis, some of the prominent market factors and trends identified in the Global Cyclohexane Market are rapid increase in the production of nylon based thermoplastics owing to its major use in the manufacturing of automotive parts coupled with rising demand for fuel-efficient vehicles by utilizing nylon based light weighted thermoplastic components, and increasing expenditure on nylon based textile materials. Moreover, demand for Cyclohexane is predicted to witness a significant growth over the assessment period due to surging oil & gas industry. Benzene is the raw material used for the production of Cyclohexane. Rising crude oil refining processes across the globe are anticipated to drive the Cyclohexane Market because benzene is the byproduct produced during the refining process. Increasing automobile production and sales along with rising consumption of nylon based light weighted automotive parts is estimated to fuel the growth of the market.
Furthermore, electrification can be a solution for air pollution and air quality and can support the decarbonization of electricity generation is helping the world meet its energy needs with less carbon is encouraging the nylon based insulation materials market. This, in turn, is predicted to propel the growth of the Cyclohexane Market during the assessment period owing to new regulations and policies on controlling greenhouse gas emissions. However, implementation of strict regulations by various government bodies has restricted the use of Cyclohexane due to the air pollution caused by manufacturing industries, which is expected to hamper the growth of the market.
Intended Audience
Cyclohexane Manufacturers
Traders and Distributors of Cyclohexane
Production Process Industries
Potential Investors
Raw Material Suppliers
Nationalized Laboratory
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.
Regional Analysis
The Global Cyclohexane Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is predicted to grow at the highest CAGR during the review period, 2017-2023 on account of expanding oil & gas industry. The demand for Cyclohexane is predicted to surge in numerous countries of the Middle East & Africa such as Iraq, the United Arab Emirates, Saudi Arabia, Iran, and Kuwait due to high adoption rate by the crude oil producers. Moreover, the presence of tremendous oil & gas reserves in this region is predicted to propel the growth of the market.
North American Cyclohexane Market is predicted to witness a rapid growth on account of high consumption potential, increasing production capacities, and rising economic growth rate. In the North American region, the U.S. is predicted to be the major contributor to the regional growth of cyclohexane market and is expected to see a significant demand for Cyclohexane during the forecast period 2017-2023. As of 2016, the U.S accounted for the largest market share and is followed by Canada in terms of value & volume and is estimated to grow at the moderate CAGR owing to its end use in manufacturing flexible foams for the construction industry. In Europe, the demand for Cyclohexane is predicted to grow in various countries such as Italy, Germany, Spain, the U.K, France, and Russia due to increased expenditure in automobiles sector owing to its end use in manufacturing automotive parts and coupled with growing purchasing power of consumers.
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