Market Research Future published a Half Cooked Research Report on “Global Cyclohexane Market Research Report – Forecast to 2027”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
Dow Chemical, BASF, Total SA, ExxonMobil, Royal Dutch Shell Plc., Huntsman Corporation, Chevron, Sunoco Chemicals, ConocoPhillips, and CITGO are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Cyclohexane Market.
Cyclohexane Market – Overview
The Global Cyclohexane Market has witnessed tremendous growth in last couple of years attributing to demand from the burgeoning Paint & Coating, Automotive, Textiles, Construction, and Plastics Industry. Cyclohexane is considered as a base material in the production of Cyclohexanone and cyclohexanol and there materials are primarily used in making caprolactam and adipic acid which are further used in manufacturing of nylon. Therefore, the rising demand of nylon will increase the market growth of Cyclohexane. Cyclohexane Market has grown immensely with the overall production per year; and as the demand augments further; the market is bound to grow rapidly, indicates the recently published study report by MRFR.
According to the Market Research Future, The global market of Cyclohexane is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2016 – 2027). The Global Cyclohexane market’s revenue contribution is expected to increase by a substantial monetarily growth by end of the forecast i.e. 2027, with a considerable expansion rate during the period 2016 to 2027.
The Global Cyclohexane Market is predominantly driven by the rising awareness towards bio-based substitutes. Some recently established companies like BioAmber, Genomatica, Rennovia, Verdezyne and Celexion have developed the method to produce adipic acid with the aim of creating 100% bio-based nylon. Some of them have achieved advanced pilot or demonstration levels. Additionally, burgeoning industries such as Paint & Coating, Automotive, Textiles, Construction, and Plastics are providing impetus to the market growth. However, factors such as fluctuating prices of raw materials are anticipated to restrain the marker growth.
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Over 90% of the Cyclohexane production is used to produce intermediates for nylon 6 and nylon 6,6. Nylon 6 is made by polymerizing caprolactam which is derived from the nitration of Cyclohexane. Nylon 6,6 is made by polymerizing equal molar quantities of adipic acid and hexamethylene diamine also known as HMDA. Adipic acid is made by a two-step air and nitric acid oxidation of Cyclohexane. The adipic acid is converted to HMDA by the reduction of adiponitrile (an intermediate). Adipic acid produced from Cyclohexane is also used to manufacture esters for plasticizers and synthetic lubricants, as well as produce polyeurethanes or synthetic leather.
Most cyclohexane goes into the production of intermediates for nylon, which has a variety of common applications such as clothing, tents and carpets as well as thermoplastics. Cyclohexane is also used as a solvent in chemical and industrial processes and recently has been substituted for benzene in many applications. Cyclohexane is transported via ships, barge, truck and rail.
Cyclohexane Market – Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Cyclohexane appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. The Market demonstrates high growth potential which is likely to attract several new entrant in the market. Further resulting in intensified completion. Top players are investing heavily in R&D. The key players operating in the Cyclohexane Market compete based upon pricing, Technology and services. Manufacturers operating in the Cyclohexane Market strive to deliver the best quality, reliable and consistent pure high-quality Cyclohexane products based on innovative technologies, and best practices.
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Cyclohexane Market – Segments
Global Cyclohexane Market is segmented in to 2 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Application: Comprises – Paint and Coating, Automotive, Textiles, Construction, Plastics and other.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Cyclohexane Market – Regional Analysis
On regional basis, Global Cyclohexane Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa. North America is the largest market for Cyclohexane holding the largest market share. Once in neck and neck with the North America sharing the competitive advantage, Europe was later slowed down due to the Euro Crises and financial decline. US is the leading consumer of Cyclohexane among Countries of North America; further Latin America and Central Europe Regions will experience a lower demand for cyclohexane due to low product awareness and capacity expansion. Adversely, rising investments and capacity expansion will create a good scope of growth, further heightening the demand for nylon 6, nylon-6, 6, which in turn will boost the Cyclohexane Market in these regions. On the other hand Asia Pacific market is the fastest growing market of Cyclohexane owing to the heightened demand attributed to the rising per capita income coupled with the FDI investment transpired in the automotive and construction Sectors. Whereas, Middle East owing to the increasing number of nylon polymer production facilities in the region; will witness a steady growth.
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