In the cyclohexylbenzene market study, Future Market Insights (FMI) offers insights into key growth drivers and restraints impacting the market through 2031. The survey offers identifies opportunities existing in key segments, including product type and applications. As per FMI, use as intermediate in the production of various chemicals will remain a chief growth driver.
As per Future Market Insights, the global cyclohexylbenzene market will surpass US$ 297 Mn during the forecast period of 2021 and 2031. The market is estimated to forecast steady growth at 4% CAGR between 2021 and 2031.
Application of cyclohexylbenzene in paints & coatings, electric & electronic, and chemical industry is expected to spur the growth. It also is used in the production of phenol and being the key ingredient in production of epoxy resins, adoption is expected to spur.
Alongside this, growing electric vehicle sales are creating lucrative opportunities for manufacturers. As cyclohexylbenzene is used as an additive for lithium-ion battery electrolytes, their adoption is expected to increase with the rise in electric vehicle sales.
Increasing research & development activities are encouraging commercialization of application of cyclohexylbenzene to replace isopropyl benzene. This will widen growth opportunities for market players.
Growing demand for high boiling solvents has further pushed the adoption of cyclohexylbenzene within paints and coatings industry, This, in turn, is expected to increase the sales over the coming years.
However, stringent regulations implemented by governments on the production and application of cyclohexylbenzene due to the hazardous impact on environment might be a restraint growth to an extent.
“Increasing sales of electric vehicles are expected to improve the adoption of cyclohexylbenzene. Hence, key players are shifting their focus towards developing economies, such as China and India, to create capitalize on lucrative opportunities over the coming years.” says the Future Market Insights analyst.
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Key Takeaways from Cyclohexylbenzene Market Survey
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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 the research and development activities to commercialize the application of cyclohexylbenzene replacing isopropyl benzene.
Thermo Fisher announced the acquisition of Alfa Aesar, a global manufacturers 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:
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 on in cyclohexylbenzene market with detailed segmentation:
By Product Type:
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Key Questions Covered in the Cyclohexylbenzene Market Report
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