Cyclohexane is a flammable, colorless, mobile, and non-corrosive liquid with a pungent odor. It is made of a ring of six methylene groups obtained from benzene or from crude petroleum. On an industrial level, cyclohexane is derived by hydrogenation of benzene. It can be used in solid fuels and glass substitutes and as a solvent, paint, oil extractant, and varnish remover. However, it is mainly used in the production of caprolactam and adipic acids that are further used for nylon 6 and nylon 66 manufacturing.
Cyclohexane to Witness Major Demand in Nylon 6 and 66
Nylon 6 emerged as the biggest end use segment with over 55.8% in terms of overall revenue in 2016. Nylon 6 is a polymer and nylon 66 is a type of polyamide. Both the components possess high strength and elasticity, hence; find major applications in engineering thermoplastics and many other industries. Nylon 6 and 66 are gradually replacing metal parts in automobiles due to their high sustainable properties. This has augmented their demand in automobiles, as well as in electrical and electronics, textiles, and engineering plastics. The worldwide demand for nylon has witnessed a paradigm shift due to the growing awareness levels among users.
Various government initiatives along with rising user awareness about pplications of nylon products have also helped boost the demand for cyclohexane. Major companies venture and establish product facilities across different regions in order to sustain the intense competition. For example, a Texas-based company called Ascend Performance Materials, LLC. is planning to set up a manufacturing capacity across their international chemicals and polymers product line to support the continued growth of their customer base. According to the company, they will increase the capacity of hexamethylene diamine (HMD), adiponitrile (ADN), polymers, and adipic acid to a significant degree through 2018.
Market Overview
According to the findings of a study by Grand View Research, Inc.; the global cyclohexane market is anticipated to reach USD 32.3 billion by 2025. It is projected to witness with around 4.9% CAGR over the forecast period (2017 to 2025). Increasing scope of application for cyclohexane in different sectors and high demand for nylon products in engineered plastics and automobiles are also expected to spur the market in near future. Koninklijke DSM N.V.; China Petroleum & Chemical Corp. (Sinopec); Sigma-Aldrich Corp.; BASF SE; and BP P.L.C. are some of the prominent players in the worldwide market.
In-Depth Research Report On Cyclohexane Market:
https://www.grandviewresearch.com/industry-analysis/cyclohexane-market
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