Global Cyclohexane Market– Industry Trends and Forecast to 2031

 Global Cyclohexane Market, By Application (Adipic Acid, Nylon 6, Nylon 66, Polyester Polyol, Caprolactam, and Other Applications), End-User Industry (Automotive, Aerospace and  Defense, Electrical and Electronics, Paints and Coatings, Textile, Construction, and Others) – Industry Trends and Forecast to 2031.

Cyclohexane Market Analysis and Size

The global cyclohexane market serves as a versatile solvent in various industries, including pharmaceuticals, paints, coatings, and adhesives. Its low polarity and ability to dissolve a wide range of substances make it valuable for dissolving oils, resins, and waxes. Cyclohexane's solvent properties facilitate efficient processing and production across diverse industrial applications which is expected to drive market growth.

Data Bridge Market Research analyses that the global cyclohexane market is expected to reach USD 44.53 billion by 2031, which was USD 32.04 billion in 2023, registering a CAGR of 4.20 % during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

Cyclohexane is a colorless, cyclic hydrocarbon with six carbon atoms forming a ring. Its molecular formula is C6​H12. It is nonpolar and commonly used as a solvent in chemical reactions. Cyclohexane's structure resembles a hexagon. It's stable and does not react easily, making it valuable in various industrial processes. Its simple structure and stability make it a fundamental compound in organic chemistry.

Global Cyclohexane Market Dynamics

Drivers

• Increasing Reliance on Cyclohexane in Textile Industry

Cyclohexane serves as a key factor acting as a catalyst in the production of adipic acid, essential for nylon synthesis, a pivotal material in textiles. As the textile industry continues to expand globally, the demand for cyclohexane rises correspondingly. Manufacturers depend on a stable and affordable cyclohexane supply to meet the escalating demand for nylon-based textiles, thereby driving growth in the cyclohexane market. Thus, the textile industry's reliance on cyclohexane emerges as a significant driver in the market growth. 

• Advancements in Green Chemistry Techniques

Green chemistry aims to minimize waste, reduce energy consumption, and use eco-friendly raw materials. As regulations tighten and environmental awareness grows, industries increasingly adopt green chemistry practices. Manufacturers invest in research and development to improve cyclohexane production processes, such as catalytic hydrogenation, which reduces environmental impact. Consequently, the market witnesses a surge in demand for greener alternatives, driving innovation and growth. Advancements in green chemistry techniques propel the cyclohexane market forward by promoting sustainable production methods.

Opportunities

• Expanding Economic Growth and Industrialization Influence Cyclohexane Demand

As economies expand and industrial activities intensify, the demand for cyclohexane increases, driven by sectors such as textiles, plastics, and automotive. This elevated demand stimulates market growth for cyclohexane, as manufacturers ramp up production to meet the rising needs of industrial sectors. Moreover, cyclohexane's versatility and essential role in industrial processes make it a crucial component for sustaining and driving growth in various industries. Economic growth and industrialization significantly influence cyclohexane demand due to its widespread use in various manufacturing processes across sectors, which is driving market growth.

• Growth in Adipic Acid Influences Cyclohexane Production

Adipic acid production, a significant derivative of cyclohexane utilized in nylon 6,6 manufacturing, directly influences cyclohexane production. As demand for adipic acid rises, manufacturers increase cyclohexane output to meet the increased need for nylon 6,6 production. This symbiotic relationship between adipic acid and cyclohexane production drives market growth, as the demand for nylon 6,6 continues to expand, particularly in industries such as textiles, automotive, and packaging, the market is expected to grow.

Restraints/ Challenge

• Fluctuating Price of Crude Oils Impacting Profitability

Cyclohexane, derived from crude oil, experiences price fluctuations reflecting oil market dynamics. As crude oil prices rise, production costs for cyclohexane escalate, affecting profitability for manufacturers and increasing end-product prices for consumers. This dependency introduces market volatility and uncertainty, making it challenging stakeholders to predict and manage costs effectively. Consequently, the market's susceptibility to crude oil price changes poses a significant restraint on growth and stability. Thus, the cyclohexane market faces hindrances due to its dependency on crude oil prices.

• Economic Downturns Impacting Market Demand

During economic downturns, industries that heavily rely on cyclohexane, such as textiles and plastics, experience reduced production and consumption rates due to decreased consumer spending and investment. This leads to a decline in demand for cyclohexane-based products, subsequently impacting the market's revenue and growth potential. The cyclical nature of economic downturns creates uncertainty and instability, posing a significant restraint on the cyclohexane market's performance and expansion. Thus, economic downturns adversely affect the cyclohexane market by dampening overall market demand.

This global cyclphexane market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global cyclphexane market contact Data Bridge Market Research for an analyst brief, our team will help you make an informed market decision to achieve market growth

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In May 2021, Cepsa strengthened its ability to innovate and focus on safety and sustainability by launching operations in San Roque, Spain, the first European chemical factory to use Detal technology. This innovation enhances market growth by offering a safer, more efficient production process for Linear Alkylbenzene, aligning with industry trends and environmental regulations while optimizing resource utilization and minimizing emissions and waste production
• In December 2021, Cepsa Qumica announced a new line of sustainable products, including recyclable and renewable materials owing to new scientific advancements and innovation. These recyclable and renewable materials offer sustainable solutions, aligning with global efforts toward environmental conservation and fostering a more sustainable industrial landscape
• In May 2021, Chevron Phillips Chemical announced objectives to grow its alpha olefins industry by building a second world-scale operation to make 1-hexene for specific applications. The new plant has a capacity of 266 KTA and is expected to begin operations in 2023 at Old Ocean, Texas. The project is expected to support about 600 jobs in construction and 50 full-time workers at its height and fostering the market growth

Global Cyclohexane Market Scope

The global cyclohexane market is segmented into two notable segments which are based on application and end user industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Application

• Adipic Acid
• Nylon 6
• Nylon 66
• Polyester Polyol
• Caprolactam
• Other Applications

End User Industry

• Automotive
• Aerospace  and Defense
• Electrical and Electronics
• Paints and Coatings
• Textile
• Construction
• Others

Global Cyclohexane Market Regional Analysis/Insights

The global cyclohexane market is analyzed and market size insights and trends are provided by country, and end user industry as referenced above.

The countries covered in the global cyclohexane market report are U.S., Canada and Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.

Asia Pacific dominates the global cyclohexane market because of the heightened government assistance in terms of subsidies and constructive laws is anticipated to attract automotive manufacturers to set up plants which will further boost the growth of the automotive interior materials market in the region.

Europe is expected to be the fastest-growing region in the global cyclohexane market because of the importance of automotive interiors for advanced countries consumers have empowered producers to modernize and market an array of functions, which in turn is anticipated to further propel the growth of the automotive interior materials market.

The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Cyclohexane Market Share Analysis

The global cyclohexane market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global cyclohexane market.

Some of the major players operating in the global cyclohexane market are:

• BASF SE (Germany)
• Merck KGaA (Germany)
• Cepsa (Spain)
• Exxon Mobil Corporation. (U.S.)
• Chevron Phillips Chemical Company LLC. (U.S.)
• DuPont (U.S.)
• Huntsman International LLC. (U.S.)
• Clariant (Switzerland)
• Dow (U.S.)
• Sunmarks, LLC. (U.S.)
• Idemitsu Kosan Co., Ltd. (Japan)
• BP p.l.c. (U.K.)
• Liaoning Yufeng Chemical Co., Ltd. (China)
• PTT Global Chemical Public Company Limited (Thailand)
• REE ATHARVA LIFESCIENCE PVT. LTD. (India)
• Reliance Industries Limited. (India)
• DSM (Netherlands)
• China Petrochemical Corporation (China)
• Flint Hills Resources. (U.S.)