Cyclohexane Market Is Expected To Reach USD 36.58 Billion By 2032....

Cyclohexane Market Is Expected To Reach USD 36.58 Billion By 2032.

Postado 2023-08-14 05:37:41

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The global cyclohexane market size was USD 23.99 Billion in 2022 and is expected to reach USD 36.58 Billion in 2032, and register a revenue CAGR of 4.8% during the forecast period. Market revenue growth is primarily driven by rising demand for Nylon Fibers, resins, and Plasticizers across various end-use industries, including automotive, construction, packaging, and textiles. Cyclohexane is a colorless and flammable liquid, widely used as a solvent and a raw material for the production of Adipic Acid, which is further used for the production of nylon fibers, resins, and plasticizers.

The application of nylon in the making of automotive and transportation components is expected to impact the growth of the market significantly. Nylon is preferred in automotive applications, owing to its moldability, exceptional mechanical properties, and ease of secondary processing comprising vibration welding, a crucial process for manufacturing intake manifolds. Moreover, nylon is also used in the production of underhood parts, a vital application areas in fuel systems.

Additionally, coating a metal product with nylon has several advantages, including chemical resistance, fluid resistance, reduced heat conductivity, impact resistance, and hygienic surface, among others. Various firms opt to coat their metal products with nylon owing to the offering of an even, glossy finish along with the above-mentioned advantages.

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Further key findings from the report suggest

By manufacturing process, hydrogenation of benzene accounted for a larger market share in 2018, as the bulk of cyclohexane produced commercially is based on the catalytic hydrogenation of benzene owing to its ease of operation and high efficiency. The hydrogenation is performed using liquid or vapor-phase methods in a catalytic fixed bed or in the presence of a highly dispersed catalyst.
By application, caprolactam contributed to the largest market share in 2018 and is expected to grow at a rate of 4.7% in the forecast period. Caprolactam is an intermediate primarily used in the manufacturing of nylon-6 fibers and resins. About 70% of caprolactam is used in the production of nylon fibers for textile, carpet, and industrial yarns, while the remaining is used in engineering resins and films.
By industry vertical, the textile industry dominated the market in 2018 and is estimated to experience a growth rate of 3.9% in the period 2019-2027.
The market in the Asia Pacific region held the largest market share in 2018 and is anticipated to witness a CAGR of 5.3% in the forecast period. The market dominance of APAC is attributed to its high demand for caprolactam along with increased emphasis production of lightweight vehicles by the automotive companies.
Key participants include BASF SE, BP PLC, Sinopec Limited, Thermo Fisher Scientific Inc., Sigma-Aldrich Corporation, Idemitsu Kosan Company Ltd., Chevron Phillips Chemical Company LLC, China Petrochemical Development Company, Koninklijke DSM NV, and Reliance Industries Ltd., among others.

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Fora vital application area this report, Reports and Data have segmented the global cyclohexane market on the basis of manufacturing process, application, industry vertical, and region:

Manufacturing Process Outlook

Hydrogenation of Benzene
Cracking of Gasoline

Application Outlook

Adipic Acid
Caprolactam
Others

Industry Vertical Outlook

Textile
Automotive
Paints and Coatings
Construction
Others

Regional Outlook

North America
- U.S.
Europe
- UK
- France
Asia Pacific
- China
- India
- Japan
Latin America
- Brazil
MEA

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