In its latest study, Future Market Insights (FMI) has forecast the demand for 1,4-Dicyclohexylbenzene to rise in chemical, paints and coatings, and electrical and electronics industries. As per the research report, the 1,4-Dicyclohexylbenzene market is expected to register growth at 3.7% during the forecast period of 2021-2031.
Growth in automobile sales will fuel the demand for 1,4-Dicyclohexylbenzene owing to its use as a solvent in paints and plastic products used in the automobile industry. Besides the automotive sector, the chemical industry will emerge as a major consumer of 1,4-Dicyclohexylbenzene due to its use as a chemical intermediate in the manufacturing of phenol, which is further used for epoxy resins.
In addition to this, the increasing demand from the electrical and electronics sector, to meet intensive specifications and requirements of consumer electronics and other devices is expected to create significant growth opportunities. These factors will prove crucial for the consistent growth of the global 1,4-Dicyclohexylbenzene market.
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Key Takeaways from 1,4-Dicyclohexylbenzene Market Study
- China has emerged as a leading consumer of 1,4 – Dicyclohexylbenzene owing to the strong presence of chemical, automobile, and electrical Electronics industries in the country.
- The chemical industry is the largest consumer of 1,4-Dicyclohexylbenzene, exhibiting increasing application in the production of diverse chemicals.
- South Korea and Japan also will emerge as lucrative markets with East Asia. Globally, these countries are expected to account for 9.4% of 1,4-Dicyclohexylbenzene sales in 2021.
- Sales in the U.S. will consistently rise, accounting for 85.9% of demand in North America in 2021.
1,4-Dicyclohexylbenzene Market: Participant Insights
Key manufacturers in the 1,4-Dicyclohexylbenzene market, such as Schultz Canada Chemicals Co. Ltd., Biosynth Carbosynth, Henan Tianfu Chemicals Co. Ltd., Changsha Easchem Co., Ltd., Hefei TNJ Chemical Co. Ltd., Jiangsu Zhongneng Chemical Technology Co., Ltd., Tokyo Chemical Industry Co. Ltd., Syntechem Co. Ltd, among others are focusing on introducing new products in the 1,4-Dicyclohexylbenzene market. Since the market is very niche, some manufacturers are investing a significant amount in research and innovation to explore various application fields.
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1,4-Dicyclohexylbenzene Market by Category
- Below 99%
- Above 99%
By Application:
- Adhesives
- Paints & Coatings
- Electrical & Electronics
- Chemical Intermediate
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East & Africa
What Is the Impact Of the COVID-19 Crisis On the 1,4-Dicyclohexylbenzene Market?
Lockdowns imposed across various countries negatively impacted the overall economy as well as the market for 1,4-Dicyclohexylben. Limited production and transportation-related delays owing to travel restrictions created obstacles amid the pandemic. With many countries being affected by consecutive waves of the COVID-19 virus, economic activities suffered immensely.
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Key end-users of 1,4-Dicyclohexylbenzene across the paints and coatings, automobiles, and electrical and electronics sectors have been impacted heavily. Owing to this scenario, demand for 1,4-Dicyclohexylbenzene was quite muted over the given period. The demand is recovering at a faster pace from the second quarter of 2021 after the re-opening of nationwide lockdowns and governmental regulations permitting back various economic activities.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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