Global Cyclohexane Market 2017-2021
Conventionally, cyclohexane is produced by fractional distillation of naphtha, but the separation is difficult because of numerous substances with similar boiling points. The majority of commercial production is based on the catalytic hydrogenation of benzene owing to its simplicity and high efficiency. The reaction takes place in the presence of a highly dispersed catalyst or in a catalytic fixed bed using liquid or vapor-phase methods.
Technavio’s analysts forecast the global cyclohexane market to grow at a CAGR of 2.71% during the period 2017-2021 .
Covered in this report
The report covers the present scenario and the growth prospects of the global cyclohexane market for 2017-2021 . To calculate the market size, the report considers the volume market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cyclohexane Market 2017-2021
Technavio recognizes the following companies as the key players in the global cyclohexane market: BASF, CEPSA, Chevron Phillips Chemical, ExxonMobil, and Huntsman.
Other Prominent Vendors in the market are: Idemitsu Kosan, Petróleos de Venezuela, PTT Global Chemical Public Company, Reliance Industries, Sunoco Chemicals, and UCC SHCHEKINOAZOT.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing awareness about bio-based substitutes. Recent developments show that startup companies such as Rennovia, Verdezyne, BioAmber, Celexion, and Genomatica have come up with bio-based routes to produce adipic acid with the aim of creating 100% bio-based nylon. Some of them have achieved advanced pilot or demonstration levels.”
According to the report, one of the major drivers for this market is Growing demand for caprolactam in China. Currently, polyester dominates the global market for synthetic fibers at half the cost of nylon. However, nylon fiber remains strong in certain technical niche categories such as airbags in cars because nylon can handle the heat of explosion but polyester cannot. Tire cord and mechanical rubber goods are other strongholds for nylon. Nylon is also preferred over polyester in hosiery and intimate apparel for women because of its smooth feel, dark colors, and durable textures. In addition, the demand for fibers has also rapidly expanded over the same period leading to no ground loss in absolute terms. It is estimated that nylon demand in China will grow in line with the gross domestic product (GDP) during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is Volatility in raw material prices. The global cyclohexane market is exposed to fluctuations pertaining to raw material and energy prices. The decline in oil prices that began in 2014 had rapidly changed the basic economics of the global chemicals industry and generated widespread uncertainty. In the past few years, crude oil and natural gas were comparatively stable in terms of supply and demand. The announcement made by the Organization of the Petroleum Exporting Countries stating no reduction in production to match crude oil supply/demand across the world led to the rapid decline in crude oil prices.
BASF, CEPSA, Chevron Phillips Chemical, ExxonMobil, Huntsman, Idemitsu Kosan, Petróleos de Venezuela, PTT Global Chemical Public Company, Reliance Industries, Sunoco Chemicals, and UCC SHCHEKINOAZOT.