Global Cyclohexylbenzene Market Insights Forecasts to 2030
- The Global Cyclohexylbenzene market was valued at USD 300.2 million in 2021.
- The market is growing at a CAGR of 5.5% from 2022 to 2030
- The Global Cyclohexylbenzene market is expected to reach USD 486.05 million by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period
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The Global Cyclohexylbenzene market is expected to reach USD 486.05 million by 2030, at a CAGR of 5.5% during the forecast period 2022 to 2030. The demand for cyclohexylbenzene is being driven by its expanding range of uses as a chemical intermediate across numerous industries. Applications for paint, coatings, and chemical manufacture will keep generating growth opportunities for cyclohexylbenzene in the market.
The organic compound Cyclohexylbenzene has the chemical formula C6H5-C6H11. It is a cyclohexyl-substituted benzene derivative (C6H11). It is an odourless liquid made when benzene is alkylated. A kind of penetrant and high-boiling-point solvent that can be used in various fields, such as adhesives, paint, and plastics. The market is being driven by the increasing building industry and the electronics industry's rising growth. Additionally, the global expansion of electric vehicles needs fuelling because it is a necessary ingredient for lithium-ion battery overcharging protection. Governments' strict laws prohibiting the manufacture and use of cyclohexylbenzene may hinder the market.
Governments' strict laws against the manufacture and use of cyclohexylbenzene are anticipated to restrict the market's expansion. As a result, the forecasted period's overall growth rate could be slowed by adherence to certain criteria. Cyclohexylbenzene has been added to the National Hazardous Substances list by the Environmental Protection Agency (EPA) and the Occupation Safety Hazard Administration (OSHA) in the United States. As a result, they have put in place a number of stringent rules governing the product's exposure, handling, and shipping.
Benzene is a chemical that is present in minute levels throughout daily life, according to the Centres for Disease Control and Prevention (CDC). It can be found in industrial pollutants, automobile service stations, cigarette smoke, and vehicle exhaust. The largest exposure to benzene has often happened at work, when employees generate or utilize benzene, according to the U.S. National Cancer Institute.
The amount, route, and duration of exposure to benzophenone, as well as the victim's age and any underlying medical issues, all play a role in determining whether or not someone becomes poisoned. For instance, fruits, fish, and vegetables may contain trace quantities of benzene that are safe to consume. However, exposure to high amounts of benzene through the air, food, or drink can result in major health issues or even death. During the anticipated period, these issues are anticipated to restrain the market's ability to increase revenues.
Global Cyclohexylbenzene Market Report Coverage
|Market Size in 2021:||USD 300.2 Million|
|Forecast Period 2022-2030 CAGR:||5.5%|
|2030 Value Projection:||USD 486.05 Million|
|Historical Data for:||2019-2020|
|No. of Pages:||280|
|Tables, Charts & Figures:||106|
|Segments covered:||By Product Type, By Application|
|Companies Covered:||Schultz Canada Chemicals Ltd., Biosynth Carbosynth, Henan Tianfu Chemicals Co. Ltd., Changsha Easchem Co., Ltd., Hefei TNJ Chemical Co. Ltd., Jiangsu Zhongneng Chemical Technology Co., Ltd., Syntechem Co. Ltd. and, SAGECHEM, Xingrui Industry Co. Ltd., Eastman, CEC Limited core competency, BASF SE, Exxon Mobil Corporation, China National Petroleum Corporation, LG Chem, and Mitsubishi Chemical Holdings Corporation.|
|Growth Drivers:||Global Cyclohexylbenzene Market worth $486.05 million by 2030|
|Pitfalls & Challenges:||Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market|
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This research report categorizes the market for global Cyclohexylbenzene based on various segments and regions, forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global Cyclohexylbenzene market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global Cyclohexylbenzene market sub-segments.
- In 2021, the High Purity segment dominated the market with the largest market share of 60.9% and market revenue of 182.82 million.
Based on the Product, the global Cyclohexylbenzene market is categorized into Standard and High Purity. In 2021, the High Purity segment dominated the market with the largest market share of 60.9% and market revenue of 182.82 million. Supreme purity Due to an increase in global research and development activities, cyclohexylbenzene is utilized for laboratory and research applications and is growing healthily and are anticipated to drive the market's ability to increase revenues.
- In 2021, the Chemical Production segment accounted for the largest share of the market, with 29.9% and market revenue of 89.75 million.
Based on the Application, the Cyclohexylbenzene market is categorized into Plastics, Paints & Coatings, Electrical & Electronics, Adhesives, and Chemical Production. In 2021, the Chemical Production segment accounted for the largest share of the market, with 29.9% and market revenue of 89.75 million. Widespread use as an intermediary in the creation of numerous compounds cyclohexylbenzene is anticipated to drive the market's ability to increase revenues. Chemicals like phenol, epoxy resins and others are produced using cyclohexylbenzene. There is a sizable demand in the market for these cyclohexylbenzene-based compounds due to their wide range of uses which are anticipated to drive the market's ability to increase revenues.
Regional Segment Analysis of the Cyclohexylbenzene Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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North America emerged as the largest global Cyclohexylbenzene market, with a market share of around 25.5% and 76.55 million of the market revenue in 2021.
- North America emerged as the largest global Cyclohexylbenzene market, with a market share of around 25.5% and 76.55 million of the market revenue in 2021. According to Future Market Insights, North America will continue to be one of the most alluring markets during the forecast period. One of the key elements promoting market expansion is the U.S.'s significant concentration of pertinent end-use sectors. The nation is ranked highly in terms of disposable income and expenditures for infrastructure development. These elements boost the nation's need for paints and coatings, which in turn gives cyclohexylbenzene producers numerous opportunities.
- Asia Pacific market is expected to grow at the fastest CAGR between 2021 and 2030, The manufacture of essential chemicals and the significant need for paints and coatings have increased the demand for cyclohexylbenzene there.
The report offers the appropriate analysis of the key organizations/companies involved within the global Cyclohexylbenzene market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and High Purity. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Schultz Canada Chemicals Ltd.
- Biosynth Carbosynth
- Henan Tianfu Chemicals Co. Ltd.
- Changsha Easchem Co., Ltd.
- Hefei TNJ Chemical Co. Ltd.
- Jiangsu Zhongneng Chemical Technology Co., Ltd.
- Syntechem Co. Ltd.
- Xingrui Industry Co. Ltd.
- CEC Limited core competency
- BASF SE
- Exxon Mobil Corporation
- China National Petroleum Corporation
- LG Chem
- Mitsubishi Chemical Holdings Corporation
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In August 2022- Tokyo Chemicals Industry, Co., Ltd. announced the introduction of a digital storefront built on the SAP Commerce Cloud solution and Digital Customer Experience (DCX) methodology and developed by Capgemini.
- In May 2022- SP Chemicals is the first local styrene facility to deploy StyroSim, an Industry 4.0 technology, thanks to BASF SE. The dynamic and user-friendly digital tool makes use of big data analysis to increase the efficiency of the styrene catalyst. Big data analysis, automated data transfer, and process modeling and optimization work together to increase production and operational efficiency in plants.
- In January 2021- For USD 5 billion, INEOS Capital Limited purchased the Aromatics and Acetyls businesses from BP plc. The companies will operate under the names INEOS Aromatics and INEOS Acetyls. The acquisition will increase the worldwide polyester business's capabilities and portfolio, which already comprises polyester fiber, film, and PET packaging.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Cyclohexylbenzene market based on the below-mentioned segments:
Global Cyclohexylbenzene Market, By Product
- High Purity
Global Cyclohexylbenzene Market, By Application
- Paints & Coatings
- Electrical & Electronics
- Chemical Production
Global Cyclohexylbenzene Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Cyclohexylbenzene market?As per Spherical Insights, the size of the Cyclohexylbenzene market was valued at USD 300.2 million in 2022 to USD 486.05 million by 2030.
What is the market growth rate of the Cyclohexylbenzene market?The Cyclohexylbenzene market is growing at a CAGR of 5.5% from 2022 to 2030.
Which country dominates the Cyclohexylbenzene market?Asia Pacific emerged as the largest market for Cyclohexylbenzene.
Who are the key players in the Cyclohexylbenzene market?Key players in the Cyclohexylbenzene market are Schultz Canada Chemicals Ltd., Biosynth Carbosynth, Henan Tianfu Chemicals Co. Ltd., Changsha Easchem Co., Ltd., Hefei TNJ Chemical Co. Ltd., Jiangsu Zhongneng Chemical Technology Co., Ltd., Syntechem Co. Ltd. and, SAGECHEM, Xingrui Industry Co. Ltd., Eastman, CEC Limited core competency, BASF SE, Exxon Mobil Corporation, China National Petroleum Corporation, LG Chem, and Mitsubishi Chemical Holdings Corporation.
Which factor drives the growth of the Cyclohexylbenzene market?An increase in demand for electronics products is expected to drives the market's growth over the forecast period.
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What is the market growth rate of the GMP Cell Banking Services market?The GMP Cell Banking Services market is growing at a CAGR of4.5%from 2022 to 2030.
Which country dominates the GMP Cell Banking Services market?North Americaemerged as the largest market for GMP Cell Banking Services.
Who are the key players in the GMP Cell Banking Services market?Key players in the GMP Cell Banking Services market areWuXi AppTec,Charles River Laboratories, Eurofins Scientific, Merck KGaA, Lonza, SGS Ltd, ViruSure,Austrianova, Goodwin Biotechnology, Paragon Bioservices, BioReliance, Sartorious,BSL Bioservice, Cleancells, and Covance.
Which factor drives the growth of the GMP Cell Banking Services market?Rise in government initiativesis expected to drives the market's growth over the forecast period.
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