Cyclohexane Market - Growth, Trends, and Forecast (2020 - 2025)
The market is segmented by Application (Adipic Acid, Caprolactam, and Other Applications), End-user Industry(Automotive, Paints and Coatings, Textile, Construction, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)
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Scope of the Report
Key Market Trends
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The cyclohexane market is expected to register a CAGR of over 3.5%, during the forecast period. The market is driven by rising demand for caprolactam in the automotive industry.
Rising demand for caprolactam and adipic acid, for the manufacture of Nylon 66, also acts as a driver for the cyclohexane market.
However, strong threat from phenol during the manufacture of caprolactam is expected to restrain the market.
Increasing investments for Nylon 66 in developing nations, including China, India, and Saudi Arabia, are expected to act as an opportunity to the cyclohexane market.
Scope of the Report
The cyclohexane market report includes:
Paints and Coatings
Other End-user Industries
Rest of Asia-Pacific
Rest of Europe
Rest of South America
Middle East & Africa
Rest of Middle East & Africa
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Key Market Trends
Rising Demand from the Textile Industry to Drive the Market
Nylon 6 is produced from the polymerization of caprolactam, and Nylon 6,6 is produced by the polymerization of adipic acid and hexamethylene diamine. Cyclohexane is used for the manufacturing of adipic acid, hexamethylene diamine, and caprolactam which are therefore used for the manufacture of Nylon 6,6 and Nylon 6. Hence, an increase in demand for the cyclohexane market, globally, is anticipated during the forecast period.
The demand for nylon has witnessed an increase, owing to its usage in applications, such as carpets, upholstery, furnishings and floor coverings, and conveyor belts.
Nylon 6 is the most common commercial grade of nylon. It is known to be a tough, abrasion-resistant material, which possesses high tensile strength.
Nylon 6 resins are used in automotive applications, including in-car seats filling and seat covering.
Nylon 66 is one of the most versatile engineering thermoplastics. Owing to its excellent balance, mechanical strength, ductility, and thermal resistance, it is an ideal substitute for metals in various applications. It is easy to modify Nylon 6,6’s properties using fillers, fibers, internal lubricants, and impact modifiers.
It is majorly used in the automotive industry, in order to replace metal and, hence, reduce the overall weight of the vehicle. For instance, plastics are preferred over metal in exterior vehicle parts, including in gears, bushes, cams, bearings, weatherproof coatings, front-end modules, beams and brackets, trunk lids, deck lids, body panels, and floor panels.
Owing to the aforementioned factors, the demand for the cyclohexane market is anticipated to be high, over the forecast period.
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Asia-Pacific to Dominate the Market
Asia-Pacific is the largest market for cyclohexane, due to its strong demand from caprolactam, and it is expected to grow at a good rate during the forecast period. China is the largest market for cyclohexane in the Asia-Pacific region, and with growing caprolactam manufacturing plants in China, combined with the shifting focus of automotive manufacturers toward lightweight vehicles, it is expected to drive the market in the Asia-Pacific region.
China is expected to dominate the cyclohexane market in Asia-Pacific and is also likely to witness the fastest increasing demand. This is majorly due to the increasing demand from various end-user industries, including automotive, construction, and textiles.
China remained the global leader in the production of automobiles across the world. Despite china being the major consumer of cyclohexane, its consumption decreased in the current year, owing to the reduction in manufacture of automobiles.
Though there is a huge decrease in the production of automobiles in China, there is a considerable demand from the current manufacturing vehicles.
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The cyclohexane market is fragmented. The major companies include, DuPont de Nemours, Inc. Merck KGaA, BASF SE, Chevron Phillips Chemical Company, etc.