Cyclohexane Market Analysis:
Cyclohexane is an inflammable product produced by the hydrogenation of strong benzene, and is used mainly in the production of adipic acid and caprolactam. These materials are used mainly to produce fibers, thermoplastics, plasticizer, and polyesters. Cyclohexane is produced by hydrogenation of benzene. Cyclohexane is an intermediate product, which is used in the manufacture of adipic acid and caprolactam. Cyclohexane is used to produce cyclohexanone and cyclohexanol for pre-use, hydrogenation of benzene, and dissolution of natural gas. Cyclohexane can also be employed as a solvent in chemical synthesis and reaction diluents. Moreover, cyclohexane is witnessing high usage in the food & beverages, textiles, and electricity sectors, which have developed several laws and regulations regarding its operation.
COVID-19 scenario analysis:
- The prevalence of COVID-19 has led to a decline in the global utilization rates of refineries used for production. Therefore, this has led to a shortage of supply categories.
- The supply chain is anticipated to be affected to a great extent due to shortage of raw material.
- The demand-supply gap, disruptions in raw material procurement, price volatility, and many other factors are expected to hamper the growth of the industry during the COVID-19 pandemic.
- The US-China trade war, political instability in the Middle East region, and currency fluctuations affected the industry in 2019. The COVID-19 crisis further accelerated the already effected industry.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Increase in demand for caprolactam and adipic acid to make Nylon 66 works as a driver for the growth of the cyclohexane market. There has been a growing impetus in the delivery of high-quality products to maintain customer loyalty as lower switching costs & lower differentiated products have reduced supplier capacity over the years recently.
Companies are heavily involved in product R&D, technological advancements, and strategic partnerships to improve their global position. Rapid urbanization and emerging economies have prompted governments to increase their production capacity to meet the rise in demand.
Low production costs and renewable government regulations boost the demand for cyclohexane. Technology development coupled with the investment generated in a variety of uses, such as automotive, textiles, and construction, is expected to increase the demand for cyclohexane during the forecast period.
In addition, there is increase in demand for high-performance thermoplastics that incorporate nylon as a base material due to its characteristics such as thermal strength, low cross-corrosion resistance, chemical friction, heat, & abrasion. Increase in consumption of cyclohexane, especially in the U.S. and China coupled with simple quality-related regulations is expected to remain an important driving force in the industry.
Key benefits of the report:
- This study presents the analytical depiction of the cyclohexane market along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the cyclohexane market share.
- The current market is quantitatively analyzed to highlight the cyclohexane market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the cyclohexane market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Cyclohexane Market Report Highlights
By Industry Vertical
Key Market Players
BP Refining & Petrochemicals GmbH, DuPont de Nemours, Inc., CITGP Petroleum Corporation, Chevron Phillips Chemical Company, China Petroleum & Chemical Corporation, Reliance industries Ltd, BASF SE, Clariant, Merck KGaA