In the Cyclohexylbenzene market study, Future Market Insights (IMF) offers insights into key growth drivers and restraints affecting the market through 2031. The survey identifies existing opportunities in key segments including product type and applications. According to the IMF, the use as an intermediary in the production of various chemicals will remain the main engine of growth.
DUBAI, United Arab Emirates, August 4, 2021 / PRNewswire / – According to Future Market Insights, the global cyclohexylbenzene market will overtake US $ 297 million over the forecast period of 2021-2031. The market is expected to forecast steady growth at 4% CAGR between 2021 and 2031.
The application of cyclohexylbenzene in paints and coatings, the electrical and electronic industry and the chemical industry is expected to stimulate growth. It is also used in the production of phenol and being the key ingredient in the production of epoxy resins, its uptake is expected to boost.
At the same time, the growth in sales of electric vehicles creates lucrative opportunities for manufacturers. As cyclohexylbenzene is used as an additive for electrolytes in lithium-ion batteries, its adoption is expected to increase with increasing sales of electric vehicles.
The increase in research and development activities encourages the commercialization of the application of cyclohexylbenzene to replace isopropylbenzene. This will expand the growth opportunities for market players.
The growing demand for high boiling point solvents has further pushed the adoption of cyclohexylbenzene in the paints and coatings industry, which in turn is expected to increase sales in the years to come.
However, the strict regulations implemented by governments on the production and application of cyclohexylbenzene due to the dangerous impact on the environment could constitute a restriction on growth to some extent.
“Increased sales of electric vehicles are expected to improve uptake of cyclohexylbenzene. Therefore, the main players are turning to developing economies, such as China and India, to create and capitalize on lucrative opportunities over the next few years. “ says Future Market Insights analyst.
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Key takeaways from cyclohexylbenzene Market research
High purity segment to dominate product type, showing steady growth at 4.5% CAGR through 2021-2031
Application in chemical production will boost sales of cyclohexylbenzene, accounting for over 32% of global value by 2031-end
The United States is expected to be a key market, with sales of over US $ 51.1 million in 2021
Thanks to the presence of industry giants through Germany, the demand for cyclohexylbenzene is expected to increase by almost 18% during the forecast period
China is expected to be the most lucrative market, accounting for over 32% of the global market share
With the expansion of the electrical and electronics industry through India, sales of cyclohexylbenzene are expected to stimulate the creation of additional opportunities for 7.1 million US dollars until 2031
Growing demand for chemical solvents and increasing application of cyclohexylbenzene in the chemical industry will propel growth
Increased research and development activities for the commercialization of cyclohexylbenzene will accelerate demand
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The major players in this market are adopting strategies such as strategic mergers and acquisitions to expand their customer base and maintain a strong presence in the industry.
Market players are investing heavily in research and development activities to commercialize the application of cyclohexylbenzene replacing isopropylbenzene.
Thermo Fisher announced the acquisition of Alfa Aesar, a global manufacturer of research chemicals, to expand its consumer base and increase its global presence
Some of the major players operating in the Cyclohexylbenzene market presented by Future Market Insights are:
Schultz Canada Chemicals Ltd.
Henan Tianfu Chemicals Co. Ltd.
Changsha Easchem Co., Ltd.
Hefei TNJ Chemical Co. Ltd.
Jiangsu Zhongneng Chemical Technology Co., Ltd.
Xingrui Industry Co. Ltd.
Syntechm Co. Ltd.
More valuable information on Cyclohexylbenzene Marlet
IMF, in its new report, offers an unbiased analysis of the global cyclohexylbenzene market, analyzing forecast statistics to 2021 and beyond. The survey reveals growth projections in the Cyclohexylbenzene market with detailed segmentation:
By product type:
Paints and coatings
Electricity and electronics
Middle East & Africa
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Key questions addressed in the Cyclohexylbenzene Market report
Report Offers Detailed Information on Cyclohexylbenzene Demand Outlook for 2021-2031
The market study also highlights the expected sales growth for the Cyclohexylbenzene market between 2021 and 2031.
The Cyclohexylbenzene market research identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluating the current market size and forecast and technological advancement within the ‘industry
Analysis of cyclohexylbenzene market share of key companies in the sector and coverage of strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships, etc.
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Future Market Insights (FMI) is a leading provider of business information and advisory services, serving clients in more than 150 countries. IMF is headquartered in Dubai, and has delivery centers in UK, US and India. IMF’s latest market research and industry analysis reports help companies meet challenges and make critical decisions with confidence and clarity amid fierce competition. Our personalized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continually monitors emerging trends and events across a wide range of industries to ensure our clients are preparing for the changing needs of their consumers.
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