Cyclohexane Market- Competitive Landscape
COVID-19 Analysis on Cyclohexane Market is witnessing a healthy growth owing to increasing demand for manufacturing Nylon-6, 6 and Nylon-6, which are majorly used in the automotive, construction, and textile industries. Reliance Industries Limited (India), China Petroleum & Chemical Corporation (China), BASF (Germany), DowDuPont Inc (U.S.), Chevron Phillips Chemical Company (U.S.), Idemitsu Kosan Co., Ltd. (Japan), and BP Refining & Petrochemicals GmbH (Germany) are some of the leading players in this market. Most of these participants adopt various strategies such as product launch, capacity expansion, R&D, and merger & acquisition to strengthen their market position and earn sizeable revenue. Considering these trends, the Global Cyclohexane Market is set to witness a considerable competition during the forecast period, 2018–2023.
Industry/ Innovation/ Related News:
25th April 2017- Lanxess (Spain), a leading manufacturer of caprolactam has announced an investment of nearly EUR 25 million, to implement measures for enhancing efficiency of the plant. The announcement was made on the occasion of completion of 50 years of the caprolactam production unit. Caprolactam is the major product of cyclohexane, hence the investment made directly influences the cyclohexane demand in the company.
03rd October 2016- AdvanSix, a leading producer of Nylon-6, started as an independent company after performing a tax-free spin-off from Honeywell. This decision was taken by the company in order to seek opportunities in the market and gain a significant market position. The company produces caprolactam using cyclohexane, hence creating a market demand for caprolactam.
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Cyclohexane Market – Market Overview
Cyclohexane is a colorless and flammable liquid, which is produced by catalytic hydrogenation of benzene. Cyclohexane is mainly used in the production of adipic acid and caprolactam. These materials are primarily used in manufacturing various thermoplastics, fibers, polyesters, and plasticizers. Cyclohexane is widely used in the manufacturing of nylon-based materials. The nylon-based thermoplastic components are majorly used in automotive light-weighting to increase the fuel-efficiency of the vehicles. The increasing use of nylon-based thermoplastics in manufacturing various automotive parts is likely to boost demand for Cyclohexane during the forecast period. Moreover, the increasing demand for Cyclohexane in the end-use industries such as food & beverages, packaging, textile, building & construction, and paints & coating is anticipated to drive growth of the Global Cyclohexane Market during the assessment period.
Asia-pacific is expected to be the key region in the Global Cyclohexane Market owing to the increasing demand for the product from end-use industries such as automotive, construction, and textile. Moreover, the growing petrochemical sector in this region is anticipated to fuel the demand for Cyclohexane during the forecast period. The high consumption potential, increasing production capacities, and significant economic growth of North America, is expected to favor growth of the regional market. Other regions including Europe, the Middle East & Africa, and Latin America are also anticipated to show moderate demand for cyclohexane.
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