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Global Cyclohexylbenzene Market Outlook 2031

 

Cyclohexylbenzene Market: Introduction

·         Cyclohexylbenzene is a derivative of benzene with a cyclohexyl substituent. It is a colorless liquid that is produced by the alkylation of benzene with cyclohexene. Hydrodesulfurization of dibenzothiophene generates cyclohexylbenzene.

·         Cyclohexylbenzene is a type of high-boiling-point solvent and penetrant that can be used in industries such as plastics, painting, and adhesives

·         Cyclohexanone is typically manufactured as an intermediate in the cyclohexane to caprolactam process. Apart from the traditional manufacturing processes, manufacturers have developed a novel and sustainable production process.

·         The hydrogenation of a feed stream comprising phenol to produce cyclohexanone and cyclohexylbenzene was a successful process developed and patented by ExxonMobil in June 2016

Key Drivers and Restraints of Cyclohexylbenzene Market

·         Increase in demand for electronic products is expected to boost the global cyclohexylbenzene market during the forecast period. Changing lifestyle and rise in demand for electronic products offer significant opportunities for key players operating in the cyclohexylbenzene market. However, stringent guidelines laid down by governing bodies of different regions on the manufacture and use of cyclohexylbenzene is projected to hamper the cyclohexylbenzene market during the forecast period. For instance, cyclohexylbenzene is included in the list of potential marine pollutants in Appendix B to 172.101 of list of marine pollutants.

Cyclohexylbenzene Market: Grade Segment

·         Based on grade, the cyclohexylbenzene market can be divided into electronics and industrial

·         The industrial segment is expected to dominate the market in the near future due to the growth of industrialization and government support to industrialization such as tax incentives for R&D investments, duty rationalization for raw materials, and improved infrastructure

·         Constant governmental support via numerous revised regulations & policies has resulted in the rapid development of the transportation infrastructure. This is anticipated to augment the cyclohexylbenzene market during the forecast period owing to the rise in demand for industrial grade cyclohexylbenzene as high boiling point solvent and penetrant in various industries such as plastics, painting, inks, and adhesives.

·         Increase in demand for cyclohexylbenzene solvents in surface coating applications in furniture, automotive, architectural, and decorative paints & coatings industries is estimated to fuel the industrial grade segment during the forecast period. Steady growth in the global construction and automobile industries is also likely to boost the cyclohexylbenzene market in the next few years.

 

 

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COVID-19 Impact on Global Cyclohexylbenzene Market

·         On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.

·         Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic

·         The outbreak of the COVID-19 pandemic has led to disturbance in the supply chain due to the global lockdown in several countries. It has led to a decline in demand for chemical intermediates due to uncertainty in the global economy and capital markets. Cyclohexylbenzene is a vital intermediate in the production of phenols, which are widely used in various industries such as construction and automotive

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Asia Pacific to Hold Leading Share of Global Cyclohexylbenzene Market

·         In terms of region, the cyclohexylbenzene market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

·         Asia Pacific is expected to hold major share of the global cyclohexylbenzene market, followed by North America and Europe, during the forecast period

·         According to Organization International des Constructeurs d'Automobiles (OICA), global automotive production grew from 89.8 million units in 2014 to 95.6 million units in 2018 with the growth dominated by Asian countries. Rise in production of different types of vehicles and their components due to the increase in R&D activities is expected to drive the demand for nylon, thus propelling the consumption of cyclohexanone.

·         Demand for cyclohexanone is anticipated to rise at a sluggish pace in Europe in the near future due to low nylon demand from the downstream automotive industry. There was a price drop of nylon 66 from May 2019 to July 2019, owing to the constant supply and decreased demand. In 2016, around 16% of nylon consumed in the region was either recycled or refurbished. This led to a decrease in demand for new nylon, further affecting the prices of nylon 66.

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Key Manufacturers Operating in Global Cyclohexylbenzene Market

The cyclohexanone market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the cyclohexanone market include:

·         Sigma Aldrich

·         Sinfoo Biotech

·         TCI Chemicals

·         Thermo Fisher Scientific

·         AA Blocks

·         ABCR GmbH

·         Alfa Chemistry

·         Angene International Limited

·         Clearsynth

·         Santa Cruz Biotechnology

 

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