Global Cyclohexane Market - Segmented by Application, End User Industry and Region - Growth, Trends and Forecast (2018-2023)
The cyclohexane market is expected to register a CAGR of approximately 3.45% during the forecasted period, 2018-2023. The market is driven by many factors, such as rising demand for caprolactum in automotive industry. However, strong threat from phenol during the manufacture of caprolactum is expected to restrain the market.
Increasing Demand for Caprolactum Driving the Market
Caprolactum demand has been increasing especially in automotive industry for the manufacture of nylon, which offers automobiles light weight. Automobile industry is shifting focus to light weight vehicles with growing pressure on energy and environmental protection. Therefore, the automotive manufacturers are planning to increase development of light materials for vehicles, and new lightweight technology, thereby, driving the market.
Caprolactum the Dominant Application
The cyclohexane market is segmented on the basis of application and end-user industry. Based on application, caprolactum is the dominant application accounting to approximately 45% market share. The segment is expected to witness a good growth rate because of its increasing usages for the manufacture of nylon 6,6 which is used in various industries, like automotive and textiles owing to their superior physical characteristics, such as light weight and high tensile strength.
‘Asia Pacific’ the Largest Market Share
Asia Pacific is the largest market for cyclohexane owing to its strong demand from caprolactum and is expected to grow at a good rate during the forecasted period. China is the largest market for cyclohexane in Asia Pacific region and with growing caprolactum manufacturing plants in China combined with shifting automotive manufacturers towards lightweight vehicles is expected to drive the market in Asia Pacific region.
March 2018: Genomatica and Aquafil have collaborated to commercialize a Genomatica process for making caprolactam derived from renewable feedstocks, rather than from petroleum
Major Players: BASF, Chevron Phillips Chemical Company, Citgo, ExxonMobil Corporation, Huntsman Corporation, Cepsa, Shchekinoazot, Reliance Industries Limited, Idemitsu Kosan Co.,Ltd., and PTT Global Chemical Public Company Limited, amongst others
Reason to Purchase this Report
To understand the impact of end-user industries on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating product type and application in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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