The global cyclohexane market is
expected to reach USD 32.3 billion by 2025, growing at a CAGR of 4.9% according
to a new report by Grand View Research, Inc. Globally changing consumer
behavior towards sustainability has been a significant factor driving market
growth. Also, the increasing use in 3D printing is positively influencing the
demand for the cyclohexane and its products.
Growing population coupled with
rapid urbanization and industrialization in emerging economies has also driven
federal governments to increase their manufacturing spending to cater to the
rising demand. The low production cost and relaxed government regulations
further boosting the demand for cyclohexane in the global market. Also, global
Nylon 6 Production is estimated to increase at a rapid rate, which is expected
to increase demand for cyclohexane globally.
Recently, there has been a
growing impetus towards the provision of greater quality products to retain
customer loyalty, since low switching costs & lowly differentiated products
have reduced supplier power in recent years. Companies are thus actively
engaged in product development & research, technological advances and even
strategic collaborations to improve their standing in the global market.
North America cyclohexane
market volume by application, 2014 - 2025 (Kilo Tons)
Browse full research report on
Cyclohexane Market: http://www.grandviewresearch.com/industry-analysis/cyclohexane-market
Further key findings from
the report suggest:
- The global
cyclohexane demand was around 9,192 kilo tons in 2016 and is expected to
grow at a CAGR of 4.0% between 2016 and 2025
- Caprolactam
was the dominant application segment in 2016 and is projected to be worth
USD 19 billion by 2025
- Cyclohexane’s
value from nylon 6 end-use was estimated at over USD 11 billion in 2016.
Textiles industry growth in South Asian markets will have a positive
influence on the segment’s growth
- Asia Pacific
is the largest region in terms of revenue in 2016 and is expected to
maintain its dominance during the forecast period.
- Growth in the
textile, electronics and automotive industry in the emerging countries
such as China and India are expected to drive the growth of the
cyclohexane market. Increasing demand for packaging materials is pushing
the growth in the region.
- The market in
Asia Pacific is expected to witness significant growth over the next few
years owing to the increasing consumption of nylon in various sectors. The
regional market is expected to grow at a CAGR of 5.6% from 2017 to 2025 in
terms of volume
- Key industry
participants include Sinopec Limited, BASF, BP PLC, Koninklijke DSM N.V.
and Sigma-Aldrich Corporation, who dominate the cyclohexane industry in
terms of production
- Improving
supply chain efficiencies, and establishing exclusive supply agreements
shall be a key factor in improving profitability of producers
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-cyclohexane-market
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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