Future Market Insights (FMI) forecasts an increase in demand for 1,4-Dicyclohexylbenzene in the chemical, paints and coatings, and electrical and electronics industries in its most recent study. According to the research report, the 1,4-Dicyclohexylbenzene market is expected to grow at a 3.7% CAGR between 2021 and 2031.
The use of 1,4-Dicyclohexylbenzene as a solvent in paints and plastic products used in the automobile industry will drive up demand for the compound.
Apart from the automotive industry, the chemical industry will be a major consumer of 1,4-Dicyclohexylbenzene due to its use as a chemical intermediate in the production of phenol, which is then used to make epoxy resins.
Furthermore, the growing demand from the electrical and electronics sectors to meet the stringent specifications and requirements of consumer electronics and other devices is expected to generate significant growth opportunities. These factors will be critical for the global 1,4-Dicyclohexylbenzene market to maintain its steady growth.
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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.
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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1,4-Dicyclohexylbenzene Market by Category
By Product Type:
- Below 99%
- Above 99%
By Application:
- Adhesives
- Paints & Coatings
- Electrical & Electronics
- Chemical Intermediate
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East & Africa
Moreover, significant growth potential exists in emerging economies such as those in Asia Pacific. There is a considerable demand for dicyclohexylbenzene-based products in India and other Southeast Asian countries.
Since the chemical industry is consolidated, investment in product development by key manufacturers is expected to create considerable opportunity across various end-use industries. As per the report, the demand in electronics, pharmaceuticals, cosmetics and other sectors will lead to an increase in the consumption of 1,4-Dicyclohexylbenzene.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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