Cyclohexane Market Size was valued at USD 24.79 billion in 2023. The Cyclohexane industry is projected to grow from USD 26.15 Billion in 2024 to USD 38.04 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.79% during the forecast period (2024 - 2032). The rising investments by the government and the new product launches on a large scale are the key market drivers contributing to the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The growing awareness of the impact of chemicals drives market CAGR for cyclohexane. Adipic acid is one of the major derivatives of cyclohexane. It produces various products, such as nylon 66, polyurethane resins, and plasticizers. The demand for adipic acid is increasing due to the growth of the construction and automotive industries, which are major consumers of products made from adipic acid. The significant growth of the market will drive the demand for cyclohexane, as adipic acid is the major derivative.
The automotive industry is a major consumer of cyclohexane. Cyclohexane produces nylon 6, which makes various automotive components such as airbags, carpets, and seat belts. However, with the automotive industry's recovery, the demand for cyclohexane is expected to increase in the coming years.
The growing demand for nylon production is another major trend. Nylon is a synthetic polymer widely used to produce various products, including textiles, carpets, and automotive parts. Cyclohexane is a key raw material in the production of adipic acid, which is further used in the production of nylon 66. The demand for nylon is increasing due to its superior properties, such as high strength, durability, and abrasion resistance. This growth in the nylon market is expected to drive the demand for cyclohexane in the coming years.
The increasing concern over environmental issues and sustainability has led to a shift towards bio-based alternatives for cyclohexane. Several companies are investing in research and development activities to develop bio-based alternatives to cyclohexane, which can be produced from renewable sources; for instance, BioAmber, a leading bio-based chemical company, has developed bio-based adipic acid, which can be used as a substitute for the conventional adipic acid produced from cyclohexane, is anticipated to be driving the Cyclohexane market revenue.
The Cyclohexane market segmentation, based on end-use, includes construction, aerospace & defense, textiles, automotive, electrical & electronics, and others. The textiles segment type dominated the market. Cyclohexane is used as a solvent for producing synthetic fibers such as nylon and polyester in the textile industry. It is also used in the producing leather and synthetic leather products.
The Cyclohexane market segmentation, based on application, includes nylon 6, nylon 66, polyester polyol, and others. The nylon 6 segment dominated the market due to its use to manufacture a wide range of products, including textiles, carpets, and engineering plastics. Cyclohexane is used as a raw material in producing adipic acid, which is then used to make nylon 6.
Figure 1: Cyclohexane Market, by Application, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Cyclohexane market will dominate the cyclohexane market due to the increasing demand for nylon and adipic acid, which are used in various applications such as automotive, construction, and consumer goods, is driving the growth of the cyclohexane market in this region. Furthermore, the development of shale gas in the US has led to an increase in the production of cyclohexane in North America.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CYCLOHEXANE MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Cyclohexane market accounts for the second-largest market share; the growth of the market in this region is driven by the increasing demand for Cyclohexane in the textile industry. The growing demand for nylon, adipic acid, and caprolactam, which are used in various applications such as textiles, plastics, and automotive, is driving the growth of the cyclohexane market in this region. Additionally, the increasing use of cyclohexane in the production of coatings and paints contributes to the market growth in Europe. Further, the German Cyclohexane market held the largest market share, and the UK Cyclohexane market was the fastest-growing market in the European region.
The Asia-Pacific Cyclohexane Market will have significant growth in the market from 2023 to 2032. The increasing demand for nylon, adipic acid, and caprolactam, driven by the growing construction and automotive industries, is driving the growth of the cyclohexane market in this region. Additionally, the rising demand for petrochemicals in the region contributes to the market's growth. Moreover, China’s Cyclohexane market held the largest market share, and the Indian Cyclohexane market was the fastest-growing market in the Asia-Pacific region.
At its integrated location in Shanghai, China, Covestro AG (Leverkusen, Germany) has started operating its first specialized mechanical recycling (MCR) compounding unit for polycarbonates in 2023. More than 25,000 tons of premium-quality polycarbonates and blends with mechanically recycled materials will be produced annually on this line in response to the increasing demand for post-consumer-recycled (PCR) plastics, especially in applications related to consumer goods, automotive, and electrical and electronic products.
For instance, the cyclohexane market will grow significantly in the coming years. The market is driven by increasing demand for nylon and adipic acid, growing construction and automotive industries, and rising demand for petrochemicals.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Cyclohexane market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Cyclohexane industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Cyclohexane industry to benefit clients and increase the market sector. The Cyclohexane industry has offered some of the most significant medical advantages in recent years. Major players in the Cyclohexane market, including Reliance Industries Limited (India), BP Refining & Petrochemicals GmbH (Germany), BASF (Germany), CITGO Petroleum Corporation (US), China Petroleum & Chemical Corporation (China), Idemitsu Kosan Co., Ltd (Japan), The Dow Chemical Company (US), CEPSA (Spain), Chevron Phillips Chemical Company (US), Clariant (Switzerland), and others, are attempting to increase market demand by investing in research and development operations.
Cepsa, founded in 1929 and headquartered in Madrid, Spain, is a Spanish international oil and gas company operating in several European countries such as Canada, Morocco, Brazil, and Panama. In May 2021, Cepsa reinforced its ability to innovate and focus on safety and sustainability by launching operations in San Roque, Spain, the first European chemical factory to use Dental technology. It is also the world's 1st Linear Alkylbenzene factory that substitue hydrofluoric acid with Dental technology. This safer and more sustainable process maximizes raw material and electricity efficiency while lowering emissions and waste production.
Lanxess AG, founded in 2004, and located in Cologne, Germany, is a German chemicals company as a part of the chemicals and polymers business from Bayer AG. In October 2021, energy company BP and Lanxess signed a strategic partnership agreement to use sustainable raw materials in engineering thermoplastics production. The former will offer sustainably manufactured cyclohexane to the Lanxess manufacturing site in Antwerp, Belgium, beginning in the last quarter of 2021. Lanxess utilizes cyclohexane as a precursor in manufacturing high-performance nylon six resins and compounds, mainly in the automotive and consumer goods and electrical industries. The sustainable basis of the raw materials is approved as per the ISCC Plus rules. This plant will have a Cyclohexane production capacity of 140,000 tonnes per annum.
In December 2021: Owing to new scientific advancements and innovation, Cepsa Qumica announced a new line of sustainable products, including recyclable and renewable materials.
In May 2021: Chevron Phillips Chemical announced objectives to grow its alpha olefins industry by building a second world-scale operation to make 1-hexene for specific applications. The new plant has a capacity of 266 KTA and is expected to begin operations in 2023 at Old Ocean, Texas. The project is expected to support about 600 jobs in construction and 50 full-time workers at its height.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 24.79 billion |
| Market Size 2024 | USD 26.15 billion |
| Market Size 2032 | USD 38.04 billion |
| Compound Annual Growth Rate (CAGR) | 4.79% (2024 - 2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2018 - 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | End-Use, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Reliance Industries Limited (India), BP Refining & Petrochemicals GmbH (Germany), BASF (Germany), CITGO Petroleum Corporation (US), China Petroleum & Chemical Corporation (China), Idemitsu Kosan Co., Ltd (Japan), The Dow Chemical Company (US), CEPSA (Spain), Chevron Phillips Chemical Company (US) and Clariant (Switzerland) |
| Key Market Opportunities | Rising demand for high-performance thermoplastics due to their characteristics. |
| Key Market Dynamics | Increase in consumption of cyclohexane in different regions' markets. |
Cyclohexane Market Highlights:
Frequently Asked Questions (FAQ) :
The Cyclohexane market size was valued at USD 24.79 Billion in 2023.
The Cyclohexane market is projected to grow at a CAGR of 4.79% during the forecast period, 2024-2032.
North America had the largest share of the Cyclohexane market.
The key players in the Cyclohexane market are Reliance Industries Limited (India), BP Refining & Petrochemicals GmbH (Germany), BASF (Germany), CITGO Petroleum Corporation (US), China Petroleum & Chemical Corporation (China), Idemitsu Kosan Co., Ltd (Japan), The Dow Chemical Company (US), CEPSA (Spain), Chevron Phillips Chemical Company (US) and Clariant (Switzerland).
The textile cyclohexane segment type dominated the Cyclohexane market in 2023.
The nylon six category had the largest share in the Cyclohexane market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
