Cyclohexylbenzene Market size is set to surpass USD 510 Million by 2027, according to a new research report by Global Market Insights Inc.
Cyclohexylbenzene is a derivative of benzene with a cyclohexyl substituent (C6H11). It is a colorless liquid, produced by the alkylation of benzene with cyclohexene. It is also generated by the hydrodesulfurization of dibenzothiophene. Cyclohexylbenzene is widely used as intermediate, solvents and additives in numerous end-use industries.
Cyclohexylbenzene, also known as phenylcyclohexane, is a colorless and oily transparent liquid that is soluble in chemical compounds such as acetone, alcohol, benzene, hexane, xylene carbon tetrachloride, and castor oils. It has the molecular formula C12H16. Cyclohexylbenzene is insoluble in glycerol and water, thus is extensively used in manufacturing lithium batteries, liquid crystal displays, and plastics.
Further, it also has applications as a penetrant used in adhesives, plastics, ink, dyes, and paint industries. Commercial application of cyclohexylbenzene as a phenol precursor or intermediate for manufacturing of phenolic resins is anticipated to boost the overall global cyclohexylbenzene market size.
Cyclohexylbenzene is used as a chemical intermediate for product phenols. The increasing application of phenol derivatives such as Bisphenol-A and phenolic resins is in the construction industry is fueling the cyclohexylbenzene industry expansion. Phenol is one key component used for the production of epoxy resins that are used in adhesives, paints, plastics, coatings, and primers, thus propelling the market statistics.
Fueling demand for electric vehicles (EVs) across the globe will drive the demand for industrial grade cyclohexylbenzene
The industrial grade cyclohexylbenzene market exceeded USD 130 million in 2020 and is expected to witness over 4% CAGR during the forecast period. Cyclohexylbenzene (CHB) is commonly utilized as an electrolyte additive for overcharge protection of lithium-ion batteries. When the battery is overcharged, cyclohexyl benzene gets electrochemically polymerized to form a polymer between separator and cathode at the potentials lower than that for electrolyte decomposition. Automotive industry is the key user of lithium-ion batteries which are majorly used in electric vehicles.
Surge in the electric vehicle demand owing to factors such as wide spread of charging infrastructure will boost the industry expansion. Favorable government policies offering incentives on the vehicle along with increasing investments to promote its usage is supporting business landscape.
Browse key industry insights spread across 280 pages with 296 market data tables and 21 figures & charts from the report, “Cyclohexylbenzene Market Forecasts Type (Electronic Grade and Industry Grade), By Application (Intermediate, Solvent and Others), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Increasing utilization in the production of phenols, which is widely used in multiple industries such as construction and automotive will drive the demand for intermediate segment
Global cyclohexylbenzene market is segmented based on applications such as intermediate, solvent, and others. The intermediate segment is anticipated to surpass over USD 185 million by 2027 owing to the increasing demand for cyclohexylbenzene in organic synthesis for the preparation of two common intermediates for chemical products including phenol and cyclohexanone.
Favorable government initiatives and funding for developing the lithium-ion battery industry will drive the North American industry expansion
North America cyclohexylbenzene market exceeded USD 75 million in 2020 and is expected to grow at over 4% CAGR through 2027. North American market will grow at a substantial pace owing to the presence of large manufacturers and end-users of cyclohexylbenzene in the U.S. and Canada. Favorable government initiatives and funding for developing the lithium-ion battery industry will drive the regional industry size. For instance, the U.S. government has implemented tax credits to reduce EV purchase prices and make them more competitive with comparable ICE vehicles. This will propel the utilization of lithium-ion batteries in electric vehicles in the U.S.
The prominent players operating in the cyclohexylbenzene market are also focusing on adopting various business strategies such as new product development, mergers & acquisition, collaborations/partnerships to gain competitive edge in the global market. Thermo Fischer, Sigma Aldrich, Kishida Chemical, Schultz Chemicals, TCI Chemicals, J&H Chemical, AA Blocks, Santa Cruz Biotechnology are some of the major players operating in the market.