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

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). The report offers market size and forecasts for Cyclohexane in revenue (USD million) for all the above segments.

Market Snapshot

Cyclohexane Market  Overview
Study Period: 2016-2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >3.5 %

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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).

Application
Adipic Acid
Caprolactam
Other Applications
End-user Industry
Automotive
Paints and Coatings
Textile
Construction
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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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.
Cyclohexane Market Share

Asia-Pacific Region 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 significant 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 are expected to drive the market in the Asia-Pacific region.
  • China remained the global leader in the production of automobiles across the world. According to OICA, around 25.23 million vehicles were produced in China during 2020 compared to 25.75 million vehicles that were produced in 2019, witnessing a decline rate of about 2%.
  • Furthermore, according to OICA, around 3.39 million vehicles were produced in India during 2020 compared to 4.52 million vehicles that were produced in 2019, witnessing a decline rate of about 25%, thus led to a decrease in the consumption of nylon for the production of tires, seat belts, seat covers, plastic parts made up of nylon, and others.
  • Cyclohexane and its derivatives also find their application in the construction industry. In 2020, the Chinese construction industry was valued at about USD 1,049.2 billion and is estimated to reach about USD 1,117.4 billion by 2021, with a growth rate of about 6.5%, thus led to an increase in the consumption of cyclohexane and its derivative for production of various construction industry products including carpeting fabrics, ropes, plumbing fittings, and others.
  • According to the Ministry of Textiles of India, the Indian Textile Industry has generated a revenue of about USD 148 million from operations during FY19, with a growth rate of about 3% compared to the previous year. Furthermore, according to the National Investment Promotion and Facilitation Agency of India, Textile and garments industry in India is expected to reach USD 223 billion by 2021.
  • Furthermore, according to the Statistics Bureau of Japan, the sales value of textile wholesale in Japan was valued at about USD 27 billion in 2019, with a decline rate of about 4% compared to the previous year. Furthermore, the sales value has significantly declined in the year 2020, majorly during the April-June month, due to the negative impact of COVID-19, thereby decreased the consumption of nylon-based fabric textile within the country.
  • Therefore, the aforementioned factors are expected to show a significant impact on the cyclohexane market in the coming years.
Cyclohexane Market  Growth

Competitive Landscape

The cyclohexane market is fragmented in nature. Some of the key players include Merck KGaA, BASF SE, Chevron Phillips Chemical Company LLC, Exxon Mobil Corporation, and Cepsa, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Production Capacity for Nylon 6

      2. 4.1.2 Increasing Demand for Caprolactam for Engineering Resins

    2. 4.2 Restraints

      1. 4.2.1 Usage of Phenol for Manufacturing Caprolactam

      2. 4.2.2 Unfavorable Conditions Arising due to the Impact of COVID-19

      3. 4.2.3 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Adipic Acid

      2. 5.1.2 Caprolactam

      3. 5.1.3 Other Applications

    2. 5.2 End-user Industry

      1. 5.2.1 Automotive

      2. 5.2.2 Paints and Coatings

      3. 5.2.3 Textile

      4. 5.2.4 Construction

      5. 5.2.5 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 Cepsa

      3. 6.4.3 Chevron Phillips Chemical Company LLC

      4. 6.4.4 CITGO Petroleum Corporation

      5. 6.4.5 Exxon Mobil Corporation

      6. 6.4.6 Idemitsu Kosan Co.,Ltd.

      7. 6.4.7 Liaoning Yufeng Chemical Co., Ltd.

      8. 6.4.8 Merck KGaA

      9. 6.4.9 PTT Global Chemical Public Company Limited

      10. 6.4.10 REE ATHARVA LIFESCIENCE PVT. LTD.

      11. 6.4.11 Reliance Industries Limited

      12. 6.4.12 UCC «SHCHEKINOAZOT»

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Investments for Nylon 66 in Developing Nations, including China, India, and Saudi Arabia

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

The Cyclohexane Market market is studied from 2016 - 2026.

The Cyclohexane Market is growing at a CAGR of >3.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Chevron Phillips Chemical Company LLC, Exxon Mobil Corporation, Cepsa, Merck KGaA, BASF SE are the major companies operating in Cyclohexane Market.

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