Cyclohexane Market to Undertake Strapping Growth During 2025
Cyclohexane
is a cycloalkane which is manufactured by catalytic hydrogenation of
benzene. Cyclohexane is insoluble in water and colorless in nature.
It is a key element employed in the manufacturing of caprolactum and
adipic acid, which are intermediates for manufacturing nylon.
Cyclohexane is used to produce cyclohexanone and cyclohexanol for
precursor usage. There are two processes through which cyclohexane
can be manufactured, viz., hydrogenation of benzene and cracking of
natural gasoline. Cyclohexane can also be employed as a solvent in
chemical synthesis and reaction diluents. Cyclohexane is also
utilized as a starting material for KA Oil and can be used as a
substitute for benzene in some end-user applications. Cyclohexane is
employed in various end-use industries such as paints & coating,
automotive, textiles, construction, and thermoplastics.
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In
terms of application, the global cyclohexane market can be segmented
into adipic acid, caprolactum, and others, which includes cyclohexane
1-2 diol and cyclohexanecarbolic acid. Caprolactum is anticipated to
be a major application segment of the cyclohexane market during the
forecast period due to the increasing demand for nylon 6 in various
end-use industries. In terms of grade, the cyclohexane market can be
segmented into reagent grade and industrial grade. Technology
development coupled with rising investment in various end-use
industries such as automotive, textile, and construction are expected
to boost the demand for cyclohexane during the forecast period.
Additionally, the rising demand for high performance thermoplastics
that incorporate nylon as a base material due to its characteristics
features such as high tensile strength, low coefficient of friction,
and friction to chemical, heat, and abrasion is anticipated to propel
the demand for cyclohexane in the near future.
The
cyclohexane market was primarily driven by the increasing demand for
adipic acid and caprolactum, which are key elements for manufacturing
Nylon-6,6 and nylon 6, respectively. These fibers are majorly
employed in the automotive and textile industries. Developing
countries such as Saudi Arabia, India, and China are witnessing an
increased investment and significant rise in demand for nylon-6,6.
This, in turn, is likely to offer a considerable opportunity for the
cyclohexane market. However, volatile raw material prices are likely
to hamper the expansion of the market, as most of these materials are
downstream products of petrochemicals. Depletion of non-renewable
resources and stringent regulations on VOC-emitting compounds have
encouraged various researchers as well as manufacturers to opt for
bio-based raw materials for the production of cyclohexane, which is
projected to further provide substantial opportunities for
manufacturers in the near future.
In
terms of demand, the countries in North America and Europe were the
leading markets for cyclohexane. However, the financial downturn and
Euro zone crisis, have hampered the expansion of the market in
Europe. In North America, the U.S. is a leading consumer of
cyclohexane, whereas China holds a prominent share of the cyclohexane
market in Asia Pacific. Demand for cyclohexane is considerable in the
region due to increasing disposable income and increasing FDI
investment in the automotive and construction industries of the
region. Demand for cyclohexane is likely to rise in the Middle East
due to the increasing number of nylon polymer production facilities
in the region. Regions such as Latin America and Central Europe are
estimated to witness lower demand for cyclohexane due to low product
awareness and capacity expansion. However, increasing investment and
capacity expansion are anticipated to boost the demand for nylon 6,
nylon-6,6, which in turn is likely to propel the cyclohexane market
in these regions.
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Key
manufacturers operating in the cyclohexane market include Sunoco
Chemicals, BASF SE, ExxonMobil Chemical, Cheveron Philips Chemical
Company, and Huntsman Corporation.
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