New York, Jan. 21, 2021 (GLOBE NEWSWIRE) -- The global cyclohexane market is predicted to be valued at nearly USD 34.31 Billion by 2027, exhibiting a steady 4.4% CAGR over the forecast timeframe. Cyclohexane is a colorless substance produced through the catalytic hydrogenation of benzene and cracking of natural gasoline. It plays an integral role in the manufacture of adipic acid and caprolactum, which act as the primary intermediates nylon production. In spite of its insolubility in water, cyclohexane can be used as a solvent in chemical synthesis and various reaction diluents. It finds major applications across the textiles, automotive, construction, paints & coatings, and thermoplastics industries due to its highly viable properties, such as elasticity, shape & form retention, and thermal resistance.
The global cyclohexane market is foreseen to be growing considerably over the estimated period, supported by numerous favorable factors. Increasing industrial uses of nylon, especially in the textiles and automotive industries, is an indispensable factor triggering the growth of this market. Nylon is a synthetic fiber of high commercial value, given its significant usage in manufacturing various types of apparel like shorts, track pants, and swimwear, as well as upholstery such as drapery and furniture coverings. Besides its use in making automotive upholstery, nylon is employed in the manufacture of technical textiles, including parachutes, combat uniforms, flak vests, etc.
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Nylon is increasing being utilized by the food & beverage and electrical & electronics industries for packaging purposes. It is also used as a coating for metal products, owing to its excellent moldability, robust mechanical properties, high chemical resistance, reduced thermal conductivity, abrasion resistance, UV resistance, and hygienic surface. It also offers a smooth and glossy finish to these products. Therefore, surging demand for nylon for manufacturing engineered plastics, increasing automotive applications, rising demand in the paints & coatings and construction industries, and the flourishing textiles industry are the most vital parameters contributing to the global market growth.
Key findings of the report:
- Of the two main manufacturing processes, the hydrogenation of benzene segment leads the global cyclohexane market in terms of market share. The catalytic hydrogenation of benzene is the most widely used process for the commercial production of cyclohexane due to its higher efficiency and ease of operation.
- Based on application, the caprolactam segment is the most dominant segment in the global cyclohexane market, accounting for the largest market share. The segment is projected to register the fastest growth rate of 4.7% over the following years. Caprolactam is the primary intermediate used for manufacturing nylon-6 fibers and resins. It constitutes about 70% of nylon fibers used in the manufacture of carpets, industrial yarns, and engineering resins and films.
- Among the various industry verticals, the textiles industry dominates the global cyclohexane market. This segment is expected to register the fastest revenue growth rate of 3.9% over the projected timeline.
- Hence, among the leading regional markets, the Asia Pacific cyclohexane market has emerged as the most dominant regional segment. The region held the highest revenue share and is expected to gain substantially higher revenue over the forecast period, exhibiting a robust 5.3% CAGR. Exponentially rising demand for caprolactam, coupled with the region’s thriving textiles and automotive industries, significantly bolsters the Asia Pacific market development.
- The leading players in the global cyclohexane market include BASF SE, Sinopec Limited, BP PLC, Sigma-Aldrich Corporation, Reliance Industries Ltd., Thermo Fisher Scientific Inc., Idemitsu Kosan Company Ltd., China Petrochemical Development Company, Koninklijke DSM NV, and Chevron Phillips Chemical Company LLC, among others.
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For this report, the global cyclohexane market has been segmented based on manufacturing process, application range, industry vertical, and region:
By Manufacturing Process (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Hydrogenation of benzene
- Cracking of gasoline
By Application Range (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Adipic acid
- Caprolactam
- Others
By Industry Vertical (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Automotive
- Textiles
- Paints & Coatings
- Construction
- Others
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By Region (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- France
- Germany
- Spain
- Russia
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Middle East & Africa
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