According to a new research report by Global Market Insights Inc., the Vinyl Cyclohexane Market size will exceed USD 78.3 million by 2027. Rising applications in polymer and chemical industries will drive market growth over the projected timeframe.
Rising R&D expenditure in the chemical industry will drive market growth
Strong economic growth from 2015 to 2018 encouraged chemical industry participants to spend more liberally on research in 2018. Global chemical production has increased significantly in the past decades. The demand for chemicals increased significantly due to rising end-user industries around the world. High demand and strong growth indicators have motivated R&D activities in the chemical industry. Chemical manufacturing firms have started to invest more in research activities due to technological, economic, and business reasons. Research studies regarding the use in chemical and polymer applications will create more opportunities for vinyl cyclohexane market participants.
The changing paradigm of laboratory research will positively influence the landscape of vinyl cyclohexane over the next few years. Various mechanical and physical properties of these copolymers are studied to make further improvements in their operational capabilities. Such newly formed variants will aid in minimizing the shortcomings of the current copolymers and will be well received by end-user industries for a wide range of applications.
The polymer industry is witnessing a strong pull from end-user industries for more derivatives of polymers and copolymers. Vinyl cyclohexane-based polymers and copolymers have shown promising properties for use in optical materials. Product demand will rise as the development of such polymers will continue in the future. In the long-term, product demand will largely come from the potential commercialization of vinyl cyclohexane-based products.
The chemical and polymer industries have witnessed significant growth due to rising per capita consumption of chemicals and polymers around the world, especially in Asia Pacific. However, market players will face challenges due to products toxic nature and possible hazards from its flammability. Currently, vinyl cyclohexane is a pull market and driven by the ongoing research programs.
Browse key industry insights spread across 154 pages with 158 market data tables & 27 figures & charts from the report, “Vinyl Cyclohexane Market By Purity (95%, 97%, ≥98%), By Application (Chemical, Polymer), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
The COVID-19 pandemic has slowed the world economy and end-user industries are struggling to keep their operations running. Product demand has lowered due to decreased R&D expenditure in end-user industries. However, the introduction of COVID-19 vaccine and opening of international trade will increase the vinyl cyclohexane market demand.
Rising demand for optical materials will drive market growth
Polymers and copolymers based on vinyl cyclohexane can be used for the production of optical materials including prims, mirrors, lenses, and color filters. Moreover, these materials are suitable for various applications in medical technology. These applications include injection molded or transparent extruded articles for petri dishes, sterile & non-sterile analytical vessels, microscope slides, microfilter plates, contact lenses, and breathing tubes. The rising demand for the aforementioned products will drive the vinyl cyclohexane market growth. The polymer application segment held more than 10% demand share in 2020.
Rising research studies will drive ≥98% purity product demand
The ≥98% purity product has the highest prices and has been witnessing significant demand growth from research applications. This product grade is used extensively for chemical synthesis in laboratory research. Growth in research activities in institutes, the chemical industry, and labs around the world will propel the vinyl cyclohexane market share. The market revenue of ≥98% purity product will reach more than 30 USD million by 2027.
Strongly growing specialty and fine chemicals demand will drive market growth in Europe
Europe is the second-largest chemical producer in the world with a high concentration of fine & specialty chemical manufacturers. Furthermore, the region has several established end-user companies, supporting the market growth. Europe is also the largest exporter of specialty chemicals, creating a new market opportunity for market players. The growing product research will propel demand in the region. Europe will grow with more than 5% CAGR in terms of revenue.
Custom synthesis is a key strategy among manufacturers
Manufacturers offer custom synthesis services for unique compounds, which are not commercially available. Custom synthesis helps manufacturers to understand customer requirements, regarding target structure, comprehensive analytics, and required amounts. Key players in the vinyl cyclohexane industry offering custom synthesis are Norquay Technology, Inc., Sigma Aldrich, BOCSCI, Inc., AK Scientific, Inc., and Tokyo Chemical Industry Co., Ltd.