H1 2023: Asia Pacific region held the largest consumption rate of Cyclohexane in H1 2023. The Asian market displayed a fluctuating pricing trend in H1 2023. Due to increased queries during the Lunar holidays, Cyclohexane's price increased, and Benzene's feedstock price increased in the Chinese market in February. Due to an increase in market trading activity following the spring season, a rise in demand from downstream sectors, and the availability of steady product inventory levels in the market, feedstock benzene prices skewed a little low in China in March. However, a number of contributing factors led to a fall in prices in May and June. The Construction sector, which uses majority of Cyclohexane for paints and coatings, saw slow demand during this time. Since April 2023, the Construction sector in China has been experiencing a decline as a result of the real estate market's unexpected dampness. The current price trend was also impacted by the decline of purchase orders from exporting nations, especially South Korea. This reinforced the product's decreasing demand-supply dynamics, together with the material's excess availability in the Chinese market led to poor pricing trend.
The global Cyclohexane market had a size of roughly at approximately 8 million tonnes in 2022 and is anticipated to grow at a CAGR of 3.8% during the forecast period until 2032.
One of the main products of cyclohexane is adipic acid. It manufactures a range of goods, including plasticizers, nylon 6,6, and polyurethane resins. Nylon 6,6 and Nylon 6 are made from hexamethylene diamine, caprolactam, and adipic acid, all of which are derived from cyclohexane. Polymerization of caprolactam yields Nylon 6, while polymerization of hexamethylenediamine and adipic acid yields Nylon 6,6. Upholstery, carpets, typewriter ribbons, furniture and floor coverings, fishing nets, nylon ropes and cordages, umbrella fabric, strimmer lines, conveyor belts, sutures, and other items are some of the major uses for nylon. Since nylon 6 and nylon 6,6 have a high strength, low modulus, and remarkable abrasion resistance, they are utilized to produce a wide range of sheer and lightweight clothing items, including stockings, socks, and sarees. The expansion of the construction and automotive industries, two key consumers of adipic acid-based products, is driving up demand for adipic acid.
One of the key elements anticipated to propel the worldwide cyclohexane market during the forecast period is rising demand from the textile industry. Cyclohexane is utilized as a solvent for essential oil extraction as well as resin, paint, and varnish. The growing usage of paints & coating in various downstream sectors such as automotive and construction coupled with growing population across the globe is likely to bolster the cyclohexane market. The cyclohexane market is expanding because of the rising demand for nylon, adipic acid, and caprolactam brought on by the expanding automotive and construction sectors. The market is expanding in part because of the growing need for petrochemicals. The global Cyclohexane market is anticipated to touch roughly 11.7 million tonnes by 2032.
Asia Pacific region is the leading consumer of the Cyclohexane on a global scale. Throughout the projected period, Asia Pacific is anticipated to continue to dominate the worldwide cyclohexane market. It is expected that developing markets like China and India will offer potential to new players in the market. The main cause of this is the rise in demand from end-user sectors like the building, textile, and automobile industries. Europe also holds a prominent position. The cyclohexane market in this region is expanding due to the rising demand for nylon, adipic acid, and caprolactam, which are utilized in many different industries like textiles, plastics, and automotives. The European market is expanding in part because cyclohexane is being used extensively in paint and coating manufacturing.
Based on the end-user industry, the global Cyclohexane market is segmented Textiles, Paints & Coatings, Construction, Automotive, and Others. However, Textiles is the major segment in the global Cyclohexane market. The growing use of Cyclohexane as a solvent in paints & coatings is likely to propel the expansion of this segment. The worldwide cyclohexane market is anticipated to grow due to strong utilization in the automotive industry by its use as a precursor for making Nylon 6. Applications for nylon 6 resins in cars include seat filling and padding. Moreover, seat belts, car hoses, and other products can be made with nylon filaments. Furthermore, tire rubber is strengthened using multifilament nylon strands.
Major players in the Global Cyclohexane market are Reliance Industries Limited, BP Refining & Petrochemicals GmbH, BASF, CITGO Petroleum Corporation, China Petroleum & Chemical Corporation, Idemitsu Kosan Co., Ltd, The Dow Chemical Company, CEPSA, Chevron Phillips Chemical Company, and Clariant.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Cyclohexane which covers production, demand and supply of Cyclohexane market in the globe.
• To analyse and forecast the market size of Cyclohexane
• To classify and forecast Global Cyclohexane market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Cyclohexane market in the globe.
To extract data for Global Cyclohexane market, primary research surveys were conducted with Cyclohexane manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Cyclohexane market over the coming years.
ChemAnalyst calculated Cyclohexane demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Cyclohexane. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Cyclohexane manufacturers and other stakeholders
• Organizations, forums and alliances related to Cyclohexane distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Cyclohexane manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Cyclohexane market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
8 million tonnes
Market size Volume in 2032
11.7 million tonnes
Growth Rate
CAGR of 3.8% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Textiles, Paints & Coatings, Construction, Automotive, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Cyclohexane in terms of volume in 2022?
Ans:
The global market size of Cyclohexane has reached approximately 8 million tonnes in 2022.
Q2.
Which industries are the leading consumers of Cyclohexane?
Ans:
Textiles, Paints & Coatings, Construction, Automotive, and Others are the leading consumers of Cyclohexane globally.
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