Global Cyclohexylbenzene Market Size By Type (Electronic Grade, Industry Grade), By Application (Intermediate, Solvent, Others) Industry Analysis Report, Country Outlook Application Development, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Dec 2020  |  Report ID: GMI4886  |  Authors: Kunal Ahuja, Kritika Mamtani

Report Format: PDF   |   Pages: 270   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Global Cyclohexylbenzene Market size was over USD 360 million in 2019 and is estimated to grow at over 4% CAGR between 2020 and 2026 owing to widespread application of cyclohexylbenzene in intermediates of various chemical products such as phenol and cyclohexanone. Increasing demand for electronic products to promote the growth of the market.
 

The growing electronic industry worldwide, especially in China and India should support the market growth over the coming timeframe. It is used as an additive for lithium-ion battery electrolyte to enhance battery safety. The global electronic industry is anticipated to reach over USD 7 trillion by the year 2025 and should continue to grow. This is attributed to changing lifestyles and demand for electronic products by consumers. For instance, the rising demand for smartphones, laptops, smart gadgets, personalized healthcare devices, and many new technology developments such as artificial intelligence, and voice recognition technology should support the cyclohexylbenzene market growth.
 

Cyclohexylbenzene Market Outlook

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The outbreak of the COVID-19 pandemic has led to disturbance in the supply chain due to the global lockdown in several countries. Also, the spread of coronavirus caused a fall in demand for chemical intermediates due to uncertainty in the global economy and capital markets. Cyclohexylbenzene is a crucial intermediate in the production of phenols, which is widely used in multiple industries such as construction and automotive. Therefore, the number of major chemicals-producing & consuming countries observed significant variation in demand from end-use industries such as electronics and automotive due to the pandemic.
 

The stringent guidelines laid down by governing bodies of different regions on the manufacturing and use of cyclohexylbenzene are likely to restrain the growth of the cyclohexylbenzene market to some extent during the forecast period. For instance, cyclohexylbenzene is included in the list of potential marine pollutants in Appendix B to § 172.101 of List of marine pollutants.
 

Additionally, all the companies manufacturing cyclohexylbenzene need to follow the guidelines mentioned in the OSHA 1910.1200. As it is also included in the TSCA inventory list which contains all chemical substances manufactured, processed, or imported in the U.S. Hence, these strict guidelines to be followed by the manufacturers to produce product may pose a challenge for manufacturers and likely to decline the growth of cyclohexylbenzene market during the forecast period. However, manufacturers are following all guidelines to maintain their sustainability and reduce the environmental effects of the company.
 

Global Cyclohexylbenzene Market Report Coverage
Report Coverage Details
Base Year:2019
Market Size in 2019:362.76 Million (USD)
Forecast Period:2020 to 2026
Forecast Period 2020 to 2026 CAGR:4.4%
2026 Value Projection:488.15 Million (USD)
Historical Data for:2015 to 2019
No. of Pages:270
Tables, Charts & Figures:317
Segments covered:Application, Type
Growth Drivers:
  • Strong growth in electronics industry
  • Booming construction sector
  • Fueling demand for electric vehicles (EVs) across the globe
Pitfalls & Challenges:
  • Harmful effects on human body if ingested

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Global automotive industry growth should fuel the demand of cyclohexylbenzene from solvent application

Cyclohexylbenzene Market by Solvent Application

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Cyclohexylbenzene consumption in solvent applications should surpass 185 million by 2026 and is anticipated to show growth over 4.5% of CAGR in the forecasted period. As solvent plays an important role in different industries, wherein the product is highly used as a solvent in plastics, painting, and adhesives. Therefore, rising automotive sales across the globe which is expected to reach over 60 million units in 2020, would result in the growth of product utilization as a solvent in the paint and plastic products used in the automobile industry.
 

Moreover, the changing trend in the global automotive sector such as electrified, autonomous, and continuous innovation in the product offering should propel industrial growth. The trend of electricity used to charge the vehicles will come from renewable sources to ensure CO2 -neutral mobility. Rapid progress made in technologies such as artificial intelligence, machine learning, and deep neural networks resulted in autonomous vehicles advancement. Hence, this continuous development in the automotive industry should support the cyclohexylbenzene market share.
 

Government policies favoring industrialization are anticipated to fuel the growth of industrial grade cyclohexylbenzene

Cyclohexylbenzene Market by Industrial Grade

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Industrial grade cyclohexylbenzene is expected to show moderate growth at a CAGR of over 4% between 2020 and 2026. It is because of growing industrialization over worldwide and positive government support to industrialization such as tax incentives for R&D investments, duty rationalization for raw materials, and improved infrastructure. Additionally, constant government support via numerous revised regulations & policies has resulted in the rapid development of the transportation infrastructure.
 

The aforementioned factors should augment the cyclohexylbenzene market revenue in the forecasted period owing to surging demand for industrial grade cyclohexylbenzene as high boiling point solvents and penetrants in different industries such as plastics, painting, inks, and adhesives. Furthermore, increasing demand for cyclohexylbenzene solvents in surface coatings application in furniture, automotive, architectural and decorative paints and coatings industry will fuel the industrial-grade segment growth. Besides, steady growth in the global construction and automobile industry is likely to trigger cyclohexylbenzene market growth in the coming years.
 

Growth of construction industry should propel the demand for cyclohexylbenzene in Asia Pacific

Cyclohexylbenzene Market by Region

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Growing construction industry should lead to significant opportunities for plastic and paint products in the cyclohexylbenzene market and directly support the demand for the product. Whereas the global construction industry is anticipated to reach USD 8 trillion by the year 2030, majorly driven by India and China. Wherein, India to offer a new engine of global growth for construction in emerging markets and rising at almost twice as fast as China. It is owing to the presence of widescale raw materials, cheap labor, and the growing population in the region.
 

Additionally, Asia Pacific is the largest phenol derivatives market and accounted for more than 45% share in 2018. Cyclohexylbenzene is highly used in the manufacturing of phenol which is a component used to produce epoxy resins that are used in adhesives, paints, plastics, coatings, and primers, thus propelling the cyclohexylbenzene market growth. These widespread applications of phenol and significant share of Asia Pacific should support the market growth over the coming timeframe and the regional industry share is anticipated to show a CAGR of 4.8%.
 

Strategic acquisitions and mergers among industry participants to accelerate market competitiveness

Key players operating in the cyclohexylbenzene industry are Thermo Fischer, Sigma Aldrich, Kishida Chemical, Schultz Chemicals, TCI Chemicals, J&H Chemical, AA Blocks, Santa Cruz Biotechnology and others. Various players are engaged in mergers, and acquisitions which should boost market share and expand product portfolio. Companies are also focusing on investment to improve production capacity to achieve competitive advantage.
 

In June 2015, Thermo Fisher Scientific announced to have signed a definitive agreement to acquire Alfa Aesar, the U.S. based research chemicals manufacturer. This strategic acquisition of the company aids to enhance its product portfolio of chemicals, solvents and reagents and support virtually every laboratory application including from research, drug discovery, development, and production.
 

In June 2015, Oakwood Products announced to invest USD 1 million for the expansion of its manufacturing plant in Estill, South Carolina, U.S. The company will purchase and renovate the 47,000-square-foot building, thereby enabling the development of innovative products. Oakwood Products is also planning to up fit the facility to house manufacturing operations and approximately 3,000 square feet of office space.
 

The global cyclohexylbenzene market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2015 to 2026 for the following segments:

By Type

  • Electronic Grade
  • Industry Grade

By Application

  • Intermediate
  • Solvent
  • Other

The above information has been provided for the following countries:

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Malaysia
  • Latin America
    • Brazil
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

 

Frequently Asked Questions (FAQ) :

The global market for cyclohexylbenzene had reached USD 360 million in 2019 and will witness around 4% CAGR up to 2026 with increased application in intermediaries of chemical products.
The industry share from solvent application segment is expected to record more than 4.5% CAGR between 2020-2026 owing to the use of the product in paints, adhesives and plastics.
The industrial grade segment could register a CAGR of around 4% through 2026 with continuous industrialization worldwide and an increased demand for plastics, adhesives, inks and paints.
The market for cyclohexylbenzene in APAC will reach a 4.8% CAGR over 2020-2026 significant applications of phenol and the growing construction sector in the region.

Premium Report Details

  • Published Date: Dec 2020
  • Pages: 270
  • Tables: 296
  • Charts / Figures: 21
  • Companies covered: 12
  • Countries covered: 5

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