CYCLOHEXANE MARKET TO RECEIVE OVERWHELMING HIKE IN REVENUES BY 2025

Cyclohexane is a cycloalkane which is produced by reactant hydrogenation of benzene. Cyclohexane is insoluble in water and dull in nature. It is a key component utilized in the assembling of caprolactum and adipic corrosive, which are intermediates for assembling nylon. Cyclohexane is utilized to deliver cyclohexanone and cyclohexanol for antecedent utilization. There are two procedures through which cyclohexane can be fabricated, viz., hydrogenation of benzene and splitting of normal gas. Cyclohexane can likewise be utilized as a dissolvable in synthetic combination and response diluents. Cyclohexane is additionally used as a beginning material for KA Oil and can be utilized as a substitute for benzene in some end-client applications. Cyclohexane is utilized in different end-use businesses, for example, paints and covering, car, materials, development, and thermoplastics.

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In terms of application, the global cyclohexane market can be segmented into adipic acid, caprolactum, and others, which includes cyclohexane 1-2 diol and cyclohexanecarbolic acid. Caprolactum is anticipated to be a major application segment of the cyclohexane market during the forecast period due to the increasing demand for nylon 6 in various end-use industries. In terms of grade, the cyclohexane market can be segmented into reagent grade and industrial grade. Technology development coupled with rising investment in various end-use industries such as automotive, textile, and construction are expected to boost the demand for cyclohexane during the forecast period. Additionally, the rising demand for high performance thermoplastics that incorporate nylon as a base material due to its characteristics features such as high tensile strength, low coefficient of friction, and friction to chemical, heat, and abrasion is anticipated to propel the demand for cyclohexane in the near future.

The cyclohexane market was primarily driven by the increasing demand for adipic acid and caprolactum, which are key elements for manufacturing Nylon-6,6 and nylon 6, respectively. These fibers are majorly employed in the automotive and textile industries. Developing countries such as Saudi Arabia, India, and China are witnessing an increased investment and significant rise in demand for nylon-6,6.

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This, in turn, is likely to offer a considerable opportunity for the cyclohexane market. However, volatile raw material prices are likely to hamper the expansion of the market, as most of these materials are downstream products of petrochemicals. Depletion of non-renewable resources and stringent regulations on VOC-emitting compounds have encouraged various researchers as well as manufacturers to opt for bio-based raw materials for the production of cyclohexane, which is projected to further provide substantial opportunities for manufacturers in the near future.

In terms of demand, the countries in North America and Europe were the leading markets for cyclohexane. However, the financial downturn and Euro zone crisis, have hampered the expansion of the market in Europe. In North America, the U.S. is a leading consumer of cyclohexane, whereas China holds a prominent share of the cyclohexane market in Asia Pacific. Demand for cyclohexane is considerable in the region due to increasing disposable income and increasing FDI investment in the automotive and construction industries of the region. Demand for cyclohexane is likely to rise in the Middle East due to the increasing number of nylon polymer production facilities in the region. Regions such as Latin America and Central Europe are estimated to witness lower demand for cyclohexane due to low product awareness and capacity expansion. However, increasing investment and capacity expansion are anticipated to boost the demand for nylon 6, nylon-6,6, which in turn is likely to propel the cyclohexane market in these regions.

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Key manufacturers operating in the cyclohexane market include Sunoco Chemicals, BASF SE, ExxonMobil Chemical, Cheveron Philips Chemical Company, and Huntsman Corporation.

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