Future Market Insights (FMI) offers in-depth analysis on the 1,4-Dicyclohexylbenzene market in its latest report. Growth forecast remains positive for the market as sales is predicted to rise by 3.7%, annually through 2031. Despite disruptions witnessed amid COVID-19 outbreak, scope for expansion remains fairly impressive as the market exhibited 3.9% year on year growth in 2020 to 2021.
Henan Tianfu Chemical Co., Ltd., Hefei TNJ Chemical Industry Co., Ltd. Angene International Limited., Kanto Chemical Co. Ltd are identified as the top market players. FMI has estimated these companies to cumulatively account for nearly 22.1% of sales in the overall market in 2021.
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Driven application across diverse industries, the 1,4-Dicyclohexylbenzene market experienced significant growth during 2016-2020. However, owing to nationwide lockdowns and its negative impact on economic activities across different sectors, the sales of 1,4-Dicyclohexylbenzene plummeted in 2020. Given this impact, the 1,4-Dicyclohexylbenzene market has recorded a CAGR of 0.82% for the period 2016-2020
Key factors driving the sales of 1,4-Dicyclohexylbenzene include growth in automobile sales. Sales in the automotive industry are increasing consistently and this growth trend is expected to continue through the report’s forecast period.
The usage of 1,4-Dicyclohexylbenzene as an additive and solvent used in paints and coatings and plastic components used in automobiles is expected to push market growth in response to the increasing automobile sales during the forecast period.
Moreover, significant growth potential exists in emerging economies such as those in Asia Pacific. There is a considerable demand for dicyclohexylbenzene-based products in India and other Southeast Asian countries.
Since the chemical industry is consolidated, investment in product development by key manufacturers is expected to create considerable opportunity across various end-use industries. As per the report, the demand in electronics, pharmaceuticals, cosmetics and other sectors will lead to an increase in the consumption of 1,4-Dicyclohexylbenzene.
Over the recent past, it has been observed that various end-use industries are focusing on the use of solvents that are relatively less toxic to ensure human and environmental safety. This trend is caused by the implementation of stringent regulations against the manufacturing and use of solvents.
Guidelines followed by the manufacturers to produce their product with minimum solvent content may affect the overall growth rate of the p-dicyclohexylbenzene market in the forecast period.
To overcome this challenge, manufacturers are investing in developing economies such as India and Southeast Asian Countries to offset any potential slowdown from the developed markets in view of tightening regulations.
North America is predicted to remain one of the key markets during the forecast period, according to Future Market Insights. In 2021, the USA 1,4-Dicyclohexylbenzene market is expected to grow by 3.9% year on year after bucking initial skepticism caused due to the outbreak of global pandemic. Across the whole of North America, total sales of 1,4-Dicyclohexylbenzene is projected to reach 13.2 Million in 2021.
A reasonably high concentration of key industries in the USA is one of the main factors supporting the market growth. Moreover, Growing demand for paints and coatings in the country, from both decorative/architectural and industrial end users, in turn creates robust opportunities for 1,4-Dicyclohexylbenzene.
Germany is one of the key manufacturing hubs in the world for automobiles. The country is anticipated to hold almost 18% of the 1,4-Dicyclohexylbenzene market in Europe owing to its well-developed chemical and automotive sectors. Germany has substantial presence of paints and coating manufacturers which in turn elevates the demand for 1,4-Dicyclohexylbenzene in the country.
Moreover, some of the world’s largest chemical companies are based in the country with significant production infrastructure, thus creating significant opportunities for the market.
China is considered as manufacturing hub for the chemicals as well as automotive industries. The country is the largest market for automotive production and consumption in the world, thus exhibiting exponentially high demand for paints and coating products.
Accordingly China has emerged as a highly lucrative market for 1,4-Dicyclohexylbenzene volume, accounting for the consumption of around 46% of the global volume of 1,4-Dicyclohexylbenzene produced.
Given the business friendly governmental policies and presence of major industries in the country, China is also home to many key manufacturers of 1,4-Dicyclohexylbenzene, thus ensuring stable supply of the product in the domestic market.
Japan is one of key countries for Global 1,4- Dicyclohexylbenzene market. Demand in the country is anticipated to witness significant growth with a healthy CAGR of 3.2% to attain value of USD 5.7 Million by 2031 end. Demand is expected to rise in the country owing to strong presence of chemical industries. Chemical industries is key consumer of 1,4 – Dicyclohexylbenzene owing to its applications in synthesis of various vital chemicals.
Moreover, Japan is one of the leading countries in electronics manufacturing industry. Electrical and electronics industry exhibits increasing demand for 1,4 – Dicyclohexylbenzene. 1,4 – Dicyclohexylbenzene is used in manufacturing of liquid crystal displays of various electronic equipment such as watches, Phones, TVs and others.
Various research and development activities are underway to cater the rising demand for new and more specified electronic equipment. With the growing demand for high specification electronic equipment, the sales of 1,4 – Dicyclohexylbenzene are expected to rise substantially from electrical and electronics industry s in the country.
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Revenue generated in the above 99% product segment of the 1,4-Dicyclohexylbenzene market is expected to grow at a robust 3.4% year over year in 2021. Demand for below 99% concentration segment is anticipated to increase by 4.1% between 2020 and 2021, giving the combined 1,4-Dicyclohexylbenzene market year-over-year growth of 3.9% in 2021, according to the FMI report.
Highly concentrated (above 99% purity) 1,4-Dicyclohexylbenzene is used in laboratory and research purposes and is experiencing a healthy growth owing to increasing focus on the sector, reinforced funding from respective governments and the realization of research supremacy as the path to economic growth.
1,4-Dicyclohexylbenzene is widely used as chemical intermediate in production of various chemicals. Approximately around 33% of 1,4-Dicyclohexylbenzene volume is used in chemical intermediate application, for the production of other key chemical products.
Chemical products such as phenol, which is further used in production of epoxy resins, Dicyclohexylbenzene hydrogen peroxide and isomers of Dicyclohexylbenzene are manufactured using 1,4-Dicyclohexylbenzene as an intermediate. These chemicals synthesized using 1,4-Dicyclohexylbenzene have variety of applications across industries and have significant demand in the market.
Manufacturers are adopting strategic mergers and acquisitions to expand their geographic footprint and revenue. They are indulging in research and development activities to improve the commercial potential of 1,4-Dicyclohexylbenzene through new product innovation to increase or commercialize new and high potential applications of the product.
Key manufacturers profiled in the report are
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.
| Attribute | Details |
|---|---|
| Forecast Period | 2021 to 2031 |
| Historical Data Available for | 2016 to 2020 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Germany, UK, France, Italy, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia & New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa |
| Key Segments Covered | Product type, Application, and Region |
| Key Companies Profiled | 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.; Tokyo Chemical Industry Ltd.; Syntechem Co. Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
1,4-Dicyclohexylbenzene market value is expected to total USD 73.5 Million in 2021.
FMI has forecast the 1,4-Dicyclohexylbenzene market to rise at a CAGR of 3.7% between 2021 and 2031.
Application of 1,4-Dicyclohexylbenzene as an intermediate in solvents and paints used in automobiles will shape growth prospects for the market in the coming years.
The demand for 1,4-Dicyclohexylbenzene is expected to increase by 3.4% annually in North America, through 2031.
The Europe market for 1,4-Dicyclohexylbenzene is expected to increase at a CAGR of 3% between 2021 and 2031.
China, the U.S., and Japan are the key exporters of 1,4-Dicyclohexylbenzene.
FMI has projected the demand for 1,4-Dicyclohexylbenzene to rise at 3.9% between 2021 and 2031
Henan Tianfu Chemical Co., Ltd., Hefei TNJ Chemical Industry Co., Ltd. Angene International Limited., and Kanto Chemical Co. Ltd. are the leading companies operating in 1,4-Dicyclohexylbenzene Market. These companies together account for 22.1% of the global market share.
Manufacturers are indulging in research and development activities, strategic collaborations and expansions to boost their global market share. These trends will continue affecting overall growth of the market through the assessment period.
Japan and South Korea will account for 9.4% of overall sales of 1,4-Dicyclohexylbenzene in 2021.
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1,4-Dicyclohexylbenzene Market
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