In its latest study, Future Market Insights (FMI) has forecast the demand for 1,4-Dicyclohexylbenzene to rise in chemical, paints and coatings, and electrical and electronics industries. As per the research report, the 1,4-Dicyclohexylbenzene market is expected to register growth at 3.7% during the forecast period of 2021-2031.
Growth in automobile sales will fuel the demand for 1,4-Dicyclohexylbenzene owing to its use as a solvent in paints and plastic products used in the automobile industry.
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Besides the automotive sector, the chemical industry will emerge as a major consumer of 1,4-Dicyclohexylbenzene due to its use as a chemical intermediate in manufacturing of phenol, which is further used for epoxy resins.
In addition to this, the increasing demand from the electrical and electronics sector, to meet intensive specifications and requirements of consumer electronics and other devices is expected to create significant growth opportunities. These factors will prove crucial for consistent growth of the global 1,4-Dicyclohexylbenzene market.
Key Takeaways from 1,4-Dicyclohexylbenzene Market Study
- China has emerged as a leading consumer of 1,4 – Dicyclohexylbenzene owing to strong presence of chemical, automobiles, and electrical and Electronics industries in the country.
- The chemical industry is the largest consumer of 1,4-Dicyclohexylbenzene, exhibiting increasing application in the production of diverse chemicals.
- South Korea and Japan also will emerge as lucrative markets with East Asia. Globally, these countries are expected to account for 9.4% of 1,4-Dicyclohexylbenzene sales in 2021.
- Sales in the U.S. will consistently rise, accounting for 85.9% of demand in North America in 2021.
“Increasing application in chemical production will drive the 1,4-Dicyclohexylbenzene market. In order to capitalize on existing opportunities, market players are expected to enter into partnership agreements with regional players,” said an analyst at FMI.
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1,4-Dicyclohexylbenzene Market: Participant Insights
Key manufacturers in the 1,4-Dicyclohexylbenzene market, such as, 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., Tokyo Chemical Industry Co. Ltd., Syntechem Co. Ltd, among others are focusing on introducing new products in the 1,4-Dicyclohexylbenzene market. Since the market is very niche, some manufacturers are investing a significant amount in research and innovation to explore various applications field.
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