Stratview Research releases a new insightful report on the Cyclohexylbenzene Market, that makes efforts at providing deep insights into numerous factors that are vital to the growth of this industry.

Market Insights

According to the present report, the cyclohexylbenzene market was estimated at USD 395.96 million in 2021 and is likely to grow at a CAGR of 3.96% during 2022-2028 to reach USD 520.8 million in 2028.

What is cyclohexylbenzene?

Cyclohexylbenzene is basically an organic compound. It is a colorless liquid that is formed by the alkylation of benzene with cyclohexene.

Market Dynamics

The growth of the cyclohexylbenzene market is primarily driven by-

• Rapid growth in the electronics industry,
• The growing construction industry,
• Increasing demand for electric vehicles globally

Key players mentioned in the report are -

• ABCR Gmbh
• Amadis Chemical
• Biosynth Carbosynth
• Clearsynth Labs Limited
• Hairui Chemical
• Oakwood Chemical
• Santa Cruz Biotechnology
• Sigma-Aldrich
• Thermo Fisher Scientific
• Tokyo Chemical Industry Co., Ltd.

Market Segments Analysis

Based on the type, the market is segmented as electronic grade and industry grade. The industry grade is estimated to witness a significant growth rate in the market on account of rising industrialization and various government policies favoring industrialization across the world, such as tax incentives for R&D investments and duty rationalization for improved infrastructure during the forecast period.

Based on the application type, the market is segmented as intermediate, solvent, and others. The solvent application type is estimated to account for the major share of the market owing to its wide utilization in painting, plastics, and adhesives. The growing automotive industry is fueling the demand for cyclohexylbenzene as a solvent in paint and plastic products used in the automobile industry across the globe during the forecast period.

In terms of regions, Asia-Pacific is estimated to be the leading region of the market on account of the growing construction industry in the region, with China and India being the major countries with lucrative growth opportunities during the forecast period. Factors such as cyclohexylbenzene being widely used for the manufacturing of phenol and Asia-Pacific being the largest phenol derivatives market is further expected to fuel the product demand in the regional market over the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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