As per a recent market survey by Future Market Insights (FMI), the global 1,4-Dicyclohexylbenzene market growth is estimated to grow by 3.7% annually through 2031. After countering the initial impact of the COVID-19 outbreak, recovery of the market is on the card. As per FMI, the market registered year-over-year growth of 3.9% in 2020-2021.
As per FMI’s analysis, the USA is projected to dominate the North America 1,4-dicyclohexylbenzene market growth over the forecast period. Expansion of the automotive, chemical, and personal care industries and the presence of key market players will continue propelling sales in the country through 2031.
Increasing applications of 1,4-dicyclohexylbenzene as an additive and in paints & coatings and plastic components in the automotive industry are spurring its demand. Rising automotive sales across the globe also are anticipated to translate into sales opportunities for 11,4-dicyclohexylbenzene producers over the assessment period.
In response to high demand from the chemical industry, leading players operating in the market are investing in research and development activities. Besides this, they are collaborating various with end-use industries to develop products according to specific requirements. This is anticipated to create lucrative opportunities for growth in the forthcoming years.
On the flip side, stringent regulations implemented to curb greenhouse emissions are encouraging manufacturers to develop products with minimum toxic content. As a result, various end-use industries are becoming more mindful regarding the consumption of 1,4-dicyclohexylbenzene, which might negatively impact growth.
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“Rising adoption of 1,4-dicyclohexylbenzene in paints & coating for decorative, architectural and industrial applications is anticipated to provide impetus to the market. Besides this, efforts towards launching innovative products aligned with specific industry requirements will boost sales of 1,4-dicyclohexylbenzene over the forecast period,” says the FMI analyst.
Key Takeaways:
- Sales of above 99% 1,4-dicyclohexylbenzene are anticipated to grow by 3.4% year-over-year in 2021.
- Applications of 1,4-dicyclohexylbenzene are projected to remain high in the chemical intermediate segment, capturing around 33% of the total volume.
- The US market is estimated to grow by 3.9% year-over-year, with total sales reaching US4 13.2 Mn in the North American market.
- Germany is projected to dominate the Europe market, commanding 18% of the European market share.
- China is estimated to emerge as a highly lucrative market, holding 46% of the global volume of 1,4-dicyclohexylbenzene produced.
- The Japan 1,4-dicyclohexylbenzene market is projected to reach a valuation of US$ 5.7 Mn in 2031, growing at a 3.2% CAGR.
- South Korea and Japan will collectively account for 9.4% of the total sales of 1,4-dicyclohexylbenzene.
Prominent Drivers:
- Government initiatives promoting automotive sales will result in high demand for 1,4-dicyclohexylbenzene.
- Product innovations in the plastic and electronic industry are anticipated to boost sales of 11,4-dicyclohexylbenzene.
Restraints:
- Stringent regulations regarding the usage of low toxic content chemicals might hamper sales of 1,4-dicyclohexylbenzene.
Competitive Landscape
Key players operating in the global 1,4-dicyclohexylbenzene market are focusing on intensive research and development to diversify their product portfolios and innovate products suitable for various end-use applications. In addition to this, mergers, acquisitions, and collaborations will remain prominent growth strategies adopted by key market players to expand their global footprint.
Leading players operating in 1,4-Dicyclohexylbenzene Market profiled by FMI include:
- Schultz Canada Chemicals 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 Ltd.
- Syntechem Co. Ltd.
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More Insights on FMI’s 1,4-Dicyclohexylbenzene Market
The latest market study on the 1,4-dicyclohexylbenzene market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global 1,4-dicyclohexylbenzene market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
Product Type:
- Below 99%
- Above 99%
Application:
- Adhesives
- Paints & Coatings
- Electrical & Electronics
- Chemical Intermediate
- Others
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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