Cyclohexylbenzene Use in Paint and Coating Applications to Consistently Increase, Accounting for Over 22% of Global Sales in 2021: FMI Study

Jul 22,2021 | Chemicals & Materials

Cyclohexylbenzene application in plastic, chemicals, paints and coatings, and electrical and electronic industries will guarantee steady consistent sales through 2031, finds Future Market Insights (FMI) in a recent research study. As per FMI, the cyclohexylbenzene market is anticipated to witness a growth rate of 4.0%, surpassing US$ 297 Mn during the assessment period.

Cyclohexylbenzene Market

A recent market study published by Future Market Insights on the cyclohexylbenzene market ...

Cyclohexylbenzene Market

Applications as a solvent in paints and plastic products used in the automobile industry will also remain a chief growth driver. Considering this, demand in the automotive sector is expected to increase, especially with the influx of electric vehicles (EVs) and consistent development in automobile components.  

Cyclohexylbenzene is primarily used in the manufacturing of phenol, which is a component used to produce epoxy resins that are used in paints, adhesives, coatings and primers. Continuous rise in demand for paints, coatings, primers, and adhesives across the globe is elevating scope for application in epoxy resins, which will in turn drive the market for cyclohexylbenzene.

Growing demand for high boiling solvents and penetrants in various industries including chemical industries, paints and coatings and plastic industries are anticipated to fuel growth in the coming years.

However, stringent government regulations imposed on the production and use of cyclohexylbenzene owing to its harmful effects on environment and human health is a longstanding challenge for manufacturers to overcome.

Key Takeaways from Cyclohexylbenzene Market Study

  • China is a key market for cyclohexylbenzene, accounting for over 78% of the global sales, owing to manufacturer friendly policies in the country.
  • Application in chemical production will drive cyclohexylbenzene consumption. The industry will account for over 32% of the global value share by the end of the assessment period.
  • Standard cyclohexylbenzene holds over 70% of the overall value share, owing to cost benefits and wide scope of applications.
  • Russia followed by Germany will lead Europe with a cumulative value share of over 37% by 2031 owing to increasing investment in manufacturing and automotive sectors.
  • The U.S., will account for over 85% of the North America market through the end of 2031, supported by the presence of major end users.

“Manufacturers are gradually shifting their focus towards emerging nations to strengthen their footprint. Considering this, emphasis on mergers and acquisitions will continue growing in the market” said an analyst at FMI.

Cyclohexylbenzene Market: Participant Insights

Key players in the market are adopting inorganic growth strategies including mergers and acquisitions to enhance their geographical footprint and revenue generation streams in previously untapped markets.

Key manufacturers in the cyclohexylbenzene market include Schultz Canada Chemicals Co. 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., and Syntechem Co. Ltd, among others.

Want to Know More?

Future Market Insights has published a market research report on the Cyclohexylbenzene market that contains global analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the Cyclohexylbenzene market through three different segments- by Product Type, by Application and by Region.

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The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals and materials  market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.