Cyclohexane Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The Global Cyclohexane Market is projected to register a CAGR of over 3.5% during the forecast period (2021-2026).

The market was negatively impacted by COVID-19 in 2020. During the pandemic scenario, the automotive manufacturing and construction activities were stopped temporarily during the lockdown to curb the spread of the COVID-19 virus. The lockdown had decreased the demand for cyclohexane and its derivatives, such as nylon 6 and nylon 6,6, -based products, including passenger safety belts, ropes, hoses, plastic auto parts, and carpeting fabric. For instance, in 2020, global automotive production declined by 15.8% compared to 2019.

• Over the short term, the growing production capacity for Nylon 6 and the increasing demand for caprolactam for engineering resins are expected to drive the market's growth.
• On the flip side, the usage of phenol for manufacturing caprolactam and unfavorable conditions arising due to the impact of COVID-19 are expected to hinder the growth of the market studied.
• 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

Cyclohexane is a colorless, flammable, volatile liquid hydrocarbon with the molecular formula C6H12 which is mainly produced from the hydrogenation of benzene. It is majorly used for the manufacturing of adipic acid and caprolactam, which further can be used to produce nylon. Cyclohexane can also be used as a solvent for paint, resin, and varnish. The cyclohexane market is segmented by application, end-user industry, and geography. By application, the market is segmented into Adipic Acid, Caprolactam, and Other Applications. By end-user industry, the market is segmented into Automotive, Paints and Coatings, Textile, Construction, and Other End-user Industries. The report also covers the market size and forecasts for the cyclohexane market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

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Key Market Trends

Rising Demand from the Textile Industry

• Cyclohexane is used for the manufacturing of adipic acid, hexamethylene diamine, and caprolactam which are further used to produce Nylon 6,6 and Nylon 6. Nylon 6 is produced through the polymerization of caprolactam, and Nylon 6,6 is produced by the polymerization of adipic acid and hexamethylenediamine.
• Some of the key applications of nylon include carpets, upholstery, furnishings and floor coverings, typewriter ribbons, nylon ropes and cordages, fishing nets, strimmer lines, umbrella cloth, sutures, conveyor belts, and others.
• 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 seat filling and seat covering. Furthermore, nylon filaments can be used to fabricate passenger's safety belts in cars, hoses, and others. Multifilament nylon yarns are also used for reinforcing rubbers in tires.
• According to OICA, around 77.62 million vehicles were produced globally in 2020 compared to 92.18 million vehicles that were produced in 2019, witnessing a decreasing growth rate of about 15.8%, thus led to a decrease in the consumption of nylon used to produce nylon tire cords, safety belts, hoses, seat filling and covering, and others.
• Owing to the low modulus, high strength, and good abrasion resistance, nylon 6 and nylon 6,6 are used to manufacture various lightweight and sheer garments. Some of the apparel which can be fabricated using nylon include ladies stockings, socks, sarees, and others. Furthermore, nylon fabric is also consumed by the footwear segment, from inside fabric to outside, even shoe bottom can be made up of nylon.
• According to the European Apparel and Textile Confederation (EURATEX), the turnover of the textile and clothing industry in the European Union (EU-27) countries was valued at about USD 192.4 billion in 2019. Furthermore, the investments in the textile and the clothing industry of EU-27 countries was valued at about USD 5.94 billion in 2019, with a growth rate of 2.7% compared to the previous year, thus led to an increase in the consumption of nylon filaments and fabrics from the textile and clothing industry.
• Therefore, the aforementioned factors are expected to show a significant impact on the cyclohexane market in the coming years.

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