Vinyl Cyclohexane Market Research, 2031
The global vinyl cyclohexane market was valued at $57.4 million in 2021 and is projected to reach $94.8 million by 2031, growing at a CAGR of 5.3% from 2022 to 2031.
Vinyl cyclohexene is an organic compound consisting of a vinyl group attached to the cyclohexene ring. It is a colorless liquid. It is an organic compound having a unique set of properties. For example, the polymers (with isotactic configuration) that are based on vinyl cyclohexane, have exceptional heat resistance capability and also have a high melting point.
Vinyl cyclohexane is primarily used in the chemical and polymer industry due to its unique set of properties. For instance, vinyl cyclohexane-based polymers with isotactic structure, which may be produced by polymerizing vinyl cyclohexane in the presence of a Ziegler-Natta catalyst, has a high melting point and great heat resistance.
The key element driving the demand for the vinyl cyclohexane market is the increase in demand from the paints and coatings industry in developing and developed nations. The vinyl cyclohexane market will be positively impacted by expanding applications, such as in medical devices, and the development and expansion of numerous end-user sectors, particularly in developing economies. Increased consumer preference for polymers, along with anticipated growth in potential vinyl cyclohexane applications, rising major companies' investment in research and development capabilities, increase in the production of cars using nylon, and growing emphasis on technological advancements and modernization of production methods will drive the demand for vinyl cyclohexane market.
The vinyl cyclohexane market is anticipated to grow moderately as a result of increased demand from the chemical industry and R&D spending. Over the past decade, market participants have made an effort to take advantage of the Asian market's potential for growth. Chemical businesses have increased their R&D efforts as a result of strong growth visibility and new prospects. In the last few years, there has been an increase in demand for both a custom synthesis service and supply chain integration. For instance, the top 20 chemical businesses have invested an average of 3.3% of their sales income on research during the last three years. As businesses began to spend on product development and research studies, the ratio increased from 2.7% to 3.3%.
There are many studies using vinyl cyclohexane-based polymers since scientists in the polymer sector are continually looking for a novel substance or derivative that has better qualities than conventional polymers. Due to their low birefringence and high heat deflection temperature, vinyl cyclohexane-based polymers are suitable for optical applications (optical data storage media and lenses). Additionally, the possible commercialization of vinyl cyclohexane-based polymers and the expansion of research activities in the polymer industry will drive the vinyl cyclohexane market share.
New copolymers are manufactured with improved operational capabilities and superior working efficiency. Polymers based on vinyl cyclohexane have demonstrated considerable potential in a number of applications. The demand for the product will increase as new types of polymers and copolymers are developed to address the shortcomings of conventional polymers.
However, insufficiency in raw material demand and supply owing to the lockdown and volatility in their prices is the major hindrance for the vinyl cyclohexane market. In addition, the vinyl cyclohexane market growth rate will be slowed down by high expenses related to research and development, increased environmental safety and conservation concerns, harmful impacts on human health, an increase in the availability of replacements, and severe international trade restrictions. A number of regulatory agencies, including the ECHA and the Globally Harmonized System of Classification and Labelling of Chemicals, have designated vinyl cyclohexane as a hazardous substance (GHS). Logistics and distribution operations are challenging to manage due to the product's flammability. The expansion of the industry will also be seriously threatened by increased product prices.
The COVID-19 pandemic has caused a disruption in the supply chain of the global vinyl cyclohexane market. The scarcity of raw materials is a primary cause for disruption in demand and supply chain. At every point throughout the value chain, the COVID-19 pandemic has had a significant influence on the chemical sector. Due to unpredictability in the global economy and capital markets, product demand decreased. As many nations are in the second or third phase of lockdown, value chain disruptions are likely to continue in the near future.
Depending on purity, the market is segmented into 95%, 97%, and ≥ 98%. On the basis of end-use industry, it is categorized into chemical, building & construction, pharmaceutical, paint & coatings, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global vinyl cyclohexane market BASF SE, British Petroleum, Cepsa, Chevron Phillips Chemical Company LLC, Clariant Ltd, China National Petroleum Corporation, Dow Inc, DuPont,Exxon Mobil Corporation, Huntsman Corporation, Liaoning Yufeng Chemical Co., Ltd, Merck KGaA, SABIC, Thermo Fisher Scientific Inc, Toray Industries, Inc. Other players operating in the market are PTT Global Chemical Public Company Limited, DSM, and Norquay Technology.
The vinyl cyclohexane market is segmented into the Purity and End-Use Industry.
The ≥ 98% segment accounted for the largest share i.e., 44.25% and is the fastest growing segment, growing around 5.5% CAGR over the forecasted period, this is due to increased demand for ≥ 98% from the chemical industry.
The chemicals segment accounted for the largest share i.e., 32.40% due to increased demand for viny cyclohexane as a raw material to carry out chemical manufacturing. The pharmaceutical segment is the fastest-growing segment, growing around 5.9% CAGR over the forecasted period. This is due to the increased demand for antibiotics in the pharmaceutical industry.
Asia-Pacific contributed 59.0% market share in 2021 and is projected to grow at a CAGR of 5.9% during the forecast period. Owing to the increased demand from the chemical and pharmaceutical industries.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the vinyl cyclohexane market analysis from 2021 to 2031 to identify the prevailing vinyl cyclohexane market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the vinyl cyclohexane market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional as well as global vinyl cyclohexane market trends, key players, market segments, application areas, and market growth strategies.
Vinyl Cyclohexane Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 94.8 million |
 Growth Rate | CAGR of 5.3% |
 Forecast period | 2021 - 2031 |
 Report Pages | 266 |
 By Purity |
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 By End-Use Industry |
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 By Region |
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 Key Market Players | cepsa, Huntsman Corporation, Exxon Mobil Corporation, Thermo Fisher Scientific Inc, SABIC, Liaoning Yufeng Chemical Co., BASF SE, Clariant Ltd, China National Petroleum Corporation, Chevron Phillips Chemical Company LLC, DOW INC, Toray Industries, Inc., British Petroleum, Merck KGaA,, DuPont de Nemours, Inc. |
Analyst Review
According to the perspective of the CXOs of leading companies, the use of vinyl cyclohexane as a chemical intermediary in various other industries as well as the chemical industry has grown over the past few years. In addition, a rise in demand for the chemical intermediates of vinyl cyclohexane is anticipated in a number of other industries, which will simultaneously increase each industry's demand on the market. In addition, there has been a rapid increase in the use of vinyl cyclohexane in a variety of chemical synthesis applications, fueling market demand. Moreover, as R&D activities in the chemical industry play a significant role in the overall market, the increase in R&D studies pertaining to vinyl cyclohexane derivatives is projected to increase the market opportunities for the involved companies. These factors increase the overall market demand for vinyl cyclohexane.
Increasing demand from the chemical industry for high-purity vinyl cyclohexane is the upcoming trend in the vinyl cyclohexane market in the world.
Chemical is the leading end-use industry for the vinyl cyclohexane market.
Asia-Pacific is the largest regional market for vinyl cyclohexane.
The vinyl cyclohexane market attained $57.4 million in 2021 and is projected to reach $94.8million by 2031, growing at a CAGR of 5.3%from 2022 to 2031.
BASF SE, British Petroleum, Cepsa, Chevron Phillips Chemical Company LLC, Clariant Ltd, Dow Inc, DuPont, Exxon Mobil Corporation, and Huntsman Corporation are some of the top companies to hold the market share in vinyl cyclohexane.
The COVID-19 outbreak has severely affected several industries such as building& construction and chemical manufacturing activities causing a temporary shutdown of manufacturing plants, leading to a drop in sales and disturbance in the supply-demand chain. This disruption in sales has affected the demand and consumption of products, leading to a substantial decline in market growth.
Increased demand from the healthcare and construction industries is the primary factor driving the demand for vinyl cyclohexane.
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