According to Future Market Insights, the worldwide cyclohexylbenzene market will outperform US$ 297 Million during the figure time of 2021 and 2031. The market is assessed to figure consistent development at 4% CAGR somewhere in the range of 2021 and 2031.
Utilization of cyclohexylbenzene in paints and coatings, electric and electronic, and compound industries is supposed to spike development. It likewise is utilized in the development of phenol and being the vital fixing underway of epoxy gums, reception is supposed to prod.
Close by this, developing electric vehicle deals are setting out worthwhile open doors for makers. As cyclohexylbenzene is utilized as an added substance for lithium-particle battery electrolytes, their reception is supposed to increment with the ascent in electric vehicle deals.
Expanding research and advancement exercises are empowering the commercialization of the utilization of cyclohexylbenzene to supplant isopropyl benzene. This will broaden learning experiences for market players.
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Developing interest in high-bubbling solvents has additionally pushed the reception of cyclohexylbenzene inside the paints and coatings industry, This, thus, is supposed to expand the deals throughout the next few years. Nonetheless, rigid guidelines carried out by states on the creation and utilization of cyclohexylbenzene because of the perilous effect on climate may be a restriction development to a degree.
Key Takeaways from Cyclohexylbenzene Market Survey
- High purity segment will lead the product type, exhibiting a steady growth at 4.5% CAGR through 2021-2031
- Application in chemical production will spur the sales of cyclohexylbenzene, accounting for over 32% of the global value by 2031-end
- The U.S. is expected to be a key market, registering sales of over US$ 51.1 million in 2021
- Thanks to the presence of industry giants across Germany, demand for cyclohexylbenzene is set to rise by nearly 18% during the forecast period
- China is anticipated to be the most lucrative market, accounting for over 32% of the global market share
- With the expansion of the electric and electronics industry across India, sales of cyclohexylbenzene are estimated to spur creating an incremental opportunity of US$ 7.1 Mn through 2031
Key Drivers
- Increasing demand for solvent chemicals and the rising application of cyclohexylbenzene in the chemical industry will propel the growth
- Increasing research & development activities for the commercialization of cyclohexylbenzene will accelerate the demand
Key Restraints
- Stringent government regulations by governing bodies on the manufacturing and application of cyclohexylbenzene are likely to hamper the market growth
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Competitive Landscape
Key players in this market are adopting strategies such as strategic mergers and acquisitions to expand their customer base and maintain a strong foothold in the industry. Market players are investing heavily in research and development activities to commercialize the application of cyclohexylbenzene replacing isopropyl benzene.
Thermo Fisher announced the acquisition of Alfa Aesar, a global manufacturer of research chemicals, to expand its consumer base and increase its global foothold
Some of the leading players operating in the cyclohexylbenzene market profiled by Future Market Insights are:
- Schultz Canada Chemicals Ltd.
- Biosynth Carbosynth
- Henan Tianfu Chemicals Co. Ltd.
- Changsha Easchem Co., Ltd.
- Hefei TNJ Chemical Co. Ltd.
- Jiangsu Zhongneng Chemical Technology Co., Ltd.
- SAGECHEM
- Xingrui Industry Co. Ltd.
- Syntechem Co. Ltd.
- Others
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Global Cyclohexylbenzene Market by Category
By Product Type:
- Standard
- High Purity
By Application:
- Plastics
- Paints & Coatings
- Adhesives
- Electrical & Electronics
- Chemical Production
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East & Africa
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More Valuable Insights on Cyclohexylbenzene Market
FMI, in its new report, offers an unbiased analysis of the global cyclohexylbenzene market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections for in cyclohexylbenzene market with detailed segmentation
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