The global cyclohexylbenzene market size is expected to be valued at USD 439.9 million in 2023. Technological advancements & process innovations, bolster the overall scope for cyclohexylbenzene market, which is projected to grow at a CAGR of 5.0% between 2023 to 2033, totaling around USD 716.5 million by 2033.
| Data Points | Key Statistics |
|---|---|
| Cyclohexylbenzene Market Value 2023 | USD 439.9 Million |
| Cyclohexylbenzene Market Projected Value (2033) | USD 716.5 Million |
| Cyclohexylbenzene Market CAGR (2023 to 2033) | 5.0% |
The increasing demand for specialty chemicals is a significant factor driving the growth of the cyclohexylbenzene market. Specialty chemicals play a crucial role in the pharmaceutical industry, where they are used in the production of active pharmaceutical ingredients (APIs) and various pharmaceutical formulations. Cyclohexylbenzene is a key raw material in the synthesis of specialty chemicals that are used in pharmaceutical applications. The specialty chemicals find application in drug synthesis, drug delivery systems, and formulation development. The pharmaceutical industry is witnessing growth due to factors such as increasing population, aging demographics, the prevalence of chronic diseases, and advancements in drug development. The demand for specialty chemicals in the pharmaceutical sector is expected to rise, driving the demand for cyclohexylbenzene as a crucial raw material.
Agrochemicals, including fertilizers, pesticides, and herbicides, are essential for crop protection and enhancing agricultural productivity. Specialty chemicals derived from cyclohexylbenzene find application in the synthesis of agrochemicals, contributing to their effectiveness and performance. There is an increasing need to increase agricultural productivity and protect crops from pests, diseases, and weed infestations, as global population continues to grow. The demand for specialty chemicals in the agrochemicals industry is expected to rise, and as a result, the demand for cyclohexylbenzene as a raw material is likely to increase.
Specialty chemicals play a vital role in the personal care industry, where they are used in the production of cosmetics, skincare products, hair care products, and personal hygiene products. Cyclohexylbenzene-derived specialty chemicals contribute to the formulation of high-performance ingredients, emollients, surfactants, and active compounds used in personal care applications. The growing emphasis on personal grooming, increasing consumer awareness about skincare and appearance, and the demand for innovative and effective personal care products are driving the growth of the specialty chemicals market. The demand for cyclohexylbenzene as a raw material for specialty chemicals in the personal care industry, as a result, is expected to witness growth.
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The global demand for cyclohexylbenzene is projected to increase at a CAGR of 2.3% during the forecast period between 2018 to 2022, reaching a total of USD 716.5 million in 2033. According to Future Market Insights, a market research and competitive intelligence provider, the cyclohexylbenzene market was valued at USD 418.9 million in 2022.
The growth of the automotive industry is a significant factor driving the demand for cyclohexylbenzene-derived products such as polycarbonate and polyurethane foams. The automotive industry has been increasingly focused on developing lightweight vehicles to improve fuel efficiency and reduce emissions. Cyclohexylbenzene-derived polycarbonate is widely used in the automotive sector for manufacturing lightweight components such as body panels, glazing systems, and interior trims. Polycarbonate offers exceptional strength-to-weight ratio, impact resistance, and design flexibility, making it an ideal choice for lightweighting applications. Automakers, by incorporating lightweight materials like polycarbonate, can reduce the overall vehicle weight, leading to improved fuel efficiency and lower carbon emissions.
Safety is a paramount concern in the automotive industry. Cyclohexylbenzene-derived products play a vital role in enhancing safety features in vehicles. Polycarbonate, for instance, is used in the production of headlamp lenses, which offer superior impact resistance and better light transmission compared to traditional materials. Polycarbonate can also be used in the manufacturing of transparent and shatterproof windows, providing improved occupant protection. The demand for safer vehicles, along with regulatory requirements and consumer preferences for advanced safety features, is propelling the utilization of cyclohexylbenzene-derived products in the automotive industry.
Cyclohexylbenzene-derived polyurethane foams are extensively used in automotive interiors to provide comfort, cushioning, and aesthetic appeal. Polyurethane foams find application in seating, armrests, headrests, and interior trims, enhancing the overall driving experience. The foams offer excellent resilience, durability, and sound insulation properties. The demand for cyclohexylbenzene-derived polyurethane foams is expected to grow, with the rising consumer expectations for comfortable and stylish vehicle interiors.
The increasing adoption of electric and hybrid vehicles is another factor driving the demand for cyclohexylbenzene-derived materials in the automotive industry. Electric vehicles (EVs) and hybrid vehicles require lightweight materials and efficient thermal management systems to maximize battery performance and range. Cyclohexylbenzene-derived polycarbonate is used in battery cell casings, electric vehicle charging connectors, and thermal management components. The growing market share of electric and hybrid vehicles globally is expected to boost the demand for cyclohexylbenzene in the automotive sector.
Increasing Demand for Polymers & Plastics is Likely to be Beneficial for Market Growth
The continually rising demand for polymers and plastics across various industries is a significant factor driving the growth of the cyclohexylbenzene market. The automotive industry is one of the key consumers of polymers and plastics. The materials are used in various applications such as interior components, exterior body parts, electrical systems, and lightweight structural elements. Polycarbonate, a major product derived from cyclohexylbenzene, finds extensive usage in automotive applications due to its excellent impact resistance, optical clarity, and heat resistance. It is used for manufacturing components like headlamp lenses, instrument panels, and interior trims. The automotive industry is growing rapidly, driven by factors such as population growth, urbanization, and increasing consumer expectations, and the demand for polymers like polycarbonate is also expected to rise, thus boosting the demand for cyclohexylbenzene as a raw material.
The packaging industry is another major consumer of polymers and plastics. Polymers are used to manufacture various packaging materials such as bottles, containers, films, and pouches. The packaging materials offer advantages such as durability, flexibility, and lightness, ensuring the safety and preservation of products during transportation and storage.
Polycarbonate derived from cyclohexylbenzene finds application in the packaging industry for manufacturing durable and impact-resistant bottles and containers, especially in the food and beverage sector. The increasing demand for packaged food and beverages, expanding e-commerce industry, and sustainability requirements are fueling the growth of the packaging sector, thereby increasing the demand for cyclohexylbenzene.
Polymers and plastics, in the construction industry, play a vital role in various applications such as pipes, insulation materials, flooring, windows, and doors. The materials offer advantages such as lightweight, durability, thermal insulation, and ease of installation. Polycarbonate derived from cyclohexylbenzene is used in construction for manufacturing glazing systems, skylights, and roofing materials. The construction industry's growth, driven by infrastructure development, urbanization, and increasing investments in residential and commercial projects, is expected to create a higher demand for polymers and plastics, thereby driving the demand for cyclohexylbenzene.
Growing Demand for Fragrances & Flavors to Fuel the Market Growth
The increasing demand for fragrances and flavors is a significant factor that is anticipated to escalate the growth of the cyclohexylbenzene market. Fragrances are widely used in personal care products, cosmetics, perfumes, and household products. The rising disposable income, changing lifestyles, and increasing awareness about personal grooming and hygiene have contributed to the growing demand for fragrances. Cyclohexylbenzene serves as an intermediate in the synthesis of aromatic compounds that are essential for creating pleasant and long-lasting fragrances. The aromatic compounds derived from cyclohexylbenzene are used as key ingredients in perfumes, colognes, body sprays, and scented products. The demand for fragrances is expected to rise, driven by factors such as population growth, urbanization, and increasing focus on personal well-being, thereby boosting the demand for cyclohexylbenzene as an intermediate.
Flavors are essential components in various food and beverage products, including snacks, beverages, confectioneries, and baked goods. The changing consumer preferences, increasing demand for unique and diverse flavors, and the growing foodservice industry have led to a surge in the demand for flavors. Cyclohexylbenzene plays a crucial role in the synthesis of aromatic compounds that contribute to the creation of appealing flavors. These compounds derived from cyclohexylbenzene are used to enhance the taste, aroma, and overall sensory experience of food and beverages. The demand for flavors and, consequently, cyclohexylbenzene as an intermediate is expected to witness growth, as the food and beverage industry continues to innovate and cater to evolving consumer preferences.
Cyclohexylbenzene-derived aromatic compounds are also used in the production of personal care and household products such as soaps, shampoos, detergents, fabric softeners, and air fresheners. The rising awareness about personal hygiene, increasing emphasis on cleanliness, and the growing demand for convenient and effective cleaning products have fueled the demand for such products. Cyclohexylbenzene-derived compounds contribute to the pleasant fragrances in these products, making them more appealing to consumers. The demand for cyclohexylbenzene is expected to grow, as personal care and household product manufacturers strive to meet consumer expectations and introduce innovative and appealing formulations.
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High Investments by Electric Vehicle Manufacturers to Boost Market Demand
North America is predicted to remain one of the most attractive markets during the forecast period, according to Future Market Insights. Across North America, total sales of cyclohexylbenzene are expected to reach USD 60.2 million in 2023.
The United States' high concentration of relevant end-use industries is one of the main factors supporting market growth. The country ranks high in terms of disposable income and spending towards infrastructure development. The factors promote the demand for paints and coatings in the country, which in turn creates robust opportunities for cyclohexylbenzene producers.
The country also has witnessed high investments from electric vehicle manufacturers which also makes the United States, a lucrative market for the foreseeable future. The country is expected to attain a CAGR of 4.9% during the analysis period.
Presence of a Mature Automotive & Chemicals Market to Boost Market Demand
Europe is a manufacturing hub for automobiles and key automotive components. Germany is anticipated to hold almost 18% of Europe cyclohexylbenzene market, owing to the presence of a mature automotive and chemicals market. Germany has reflected substantial demand for paints and coatings, and production of key chemical products which in turn elevates the demand for cyclohexylbenzene in the country.
Manufacturers in the country have a competitive advantage as they have access to cutting edge research to address unmet challenges. The country is witnessing investments to expand their operations, which is resulting in promising growth prospects in the country. The country is expected to attain a CAGR of 4.8% during the analysis period.
Strong Presence of Export-Oriented Manufacturing Units to Boost Market Demand
China is considered as a manufacturing hub owing to strong presence of export-oriented manufacturing units in the country. The country is home to a major automobile manufacturing sector coupled with a vast urban population, which creates notable demand for paints and coatings in country. China is expected to attain a CAGR of 4.7% during the analysis period.
China accounts for almost 35% of global cyclohexylbenzene volume in 2023. The strong presence of electronics & chemical manufacturing industries in the country has fueled the growth of the cyclohexylbenzene market. The government has set manufacturer friendly policies, which will support long term developments.
New Manufacturing Facilities to Boost Market Demand
Strong growth of population in India coupled with the rise in disposable incomes is a key factor boosting the demand for cyclohexylbenzene in verticals such as automobiles and paints and coatings which is boosting sales in India. The country is expected to create an incremental dollar opportunity worth USD 8.1 million during 2023 to 2033.
India is growing economy which has witnessed rising demand for electrical and electronic equipment. This growth is expected to benefit the Indian cyclohexylbenzene market, owing to its use in liquid crystal displays of electronic equipment including watches, phones, LED TVs, and many others.
Various governmental initiatives under the 'Make in India' promote the expansion of manufacturers in the country, and is expected to play a key role in attracting new manufacturing facilities to India. India is expected to attain a CAGR of 4.6% during the analysis period.
High Purity Segment to Boost Growth
The high purity segment is expected to grow at a CAGR of 4.5% during the forecast period. Demand for standard variants is anticipated to increase by 4.3% between 2023 and 2024.
High purity cyclohexylbenzene is used for laboratory and research purposes and it is experiencing healthy growth, owing to increase in research and development activities across the globe.
Plastic Manufacturing to account for a significant demand share
The demand for plastic products continues to rise due to their versatility, lightweight nature, and cost-effectiveness. Cyclohexylbenzene is used as a key raw material in the production of polycarbonate, which is widely used in the manufacturing of automotive parts, electrical components, consumer goods, and construction materials. The growing demand for plastic products is expected to drive the consumption of cyclohexylbenzene.
Advancements in plastic manufacturing technologies, such as injection molding and extrusion processes, have expanded the applications of plastics in various industries. Cyclohexylbenzene plays a crucial role in producing high-performance plastics with desirable mechanical and thermal properties.
The demand for specialty plastics will increase, as technology continues to advance, thereby driving the consumption of cyclohexylbenzene. The segment is expected to hold a CAGR of 4.4% during the forecast period.
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Cyclohexylbenzene market startup players are adopting various marketing strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to create a larger customer base. For instance,
Key players in the cyclohexylbenzene market are strongly focusing on profit generation from their existing product portfolios along while exploring potential new applications.
The players are emphasizing on increasing their cyclohexylbenzene production capacities, to cater to the demand from numerous end use industries. Prominent players are also pushing for geographical expansion to decrease the dependency on imported cyclohexylbenzene.
Recent Developments
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, France, Italy, Spain, Poland, Russia, Czech Republic, Romania, China, Japan, South Korea, India, Bangladesh, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Segments Covered | Product Type, Application, 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.; SAGECHEM; Xingrui Industry Co. Ltd.; Syntechem Co. Ltd. |
| Customization & Pricing | Available upon Request |
The sales of cyclohexylbenzene are anticipated to be worth USD 716.5 million by 2033.
The growth potential of the market is 5% through 2033.
Increasing demand for polymers and fragrances is augmenting sales of cyclohexylbenzene.
The United States market is expected to expand at a CAGR of 4.9%.
High purity segment is gaining high traction among end users.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Standard 5.2. High Purity 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Plastics 6.2. Paints & Coatings 6.3. Adhesives 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Schultz Canada Chemicals Ltd. 17.2. Biosynth Carbosynth 17.3. Henan Tianfu Chemicals Co. Ltd. 17.4. Changsha Easchem Co., Ltd. 17.5. Hefei TNJ Chemical Co. Ltd. 17.6. Jiangsu Zhongneng Chemical Technology Co., Ltd. 17.7. SAGECHEM 17.8. Xingrui Industry Co. Ltd. 17.9. Syntechem Co. Ltd. 17.10. Nanjing Qisheng Chemical 18. Assumptions & Acronyms Used 19. Research Methodology
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Cyclohexylbenzene Market
