Vinyl Cyclohexane Market

Vinyl Cyclohexane Market Highlights

The global vinyl cyclohexane market is expected to cross a value of USD 99.8 billion by the end of 2032. The market was valued at USD 58.2 billion in 2023 and is expected to expand at a CAGR of 5.4% between 2024-2032.

• Over the mid-term, the growing demand for vinyl cyclohexane from the paints and coatings industry is the primary factor anticipated to drive the global vinyl cyclohexane market.
• The stringent environmental regulations associated with the chemical compound is a major factor to challenge the market growth.
• The Asia Pacific vinyl cyclohexane market is projected to dominate the global market.

Vinyl Cyclohexane Market Outlook

Vinyl cyclohexane is a cyclic hydrocarbon that is represented by the molecular formula C8H14. The chemical compound has a vinyl group that is attached to a cyclohexane ring with a double bond between two adjacent carbon atoms. The chemical is known to have hydrocarbon-like odor and is at liquid state at room temperature.

Our analysts at KD Market Insights predict that the rise in demand for the chemical from the paints and coatings industry is one of the primary factors pushing the market growth forward. The chemical is used in combination with gypsum ceiling tile for improving the anti-weathering capabilities of ceilings, and is also used for producing resins, coatings, and adhesives. Hence, the growing paints and coatings industry, which as per our analysis is expected to generate a revenue of more than USD 281 billion by 2032, is projected to push the market forward for vinyl cyclohexane. BASF SE, Merck KGaA, and Cepsa are some of the significant parties in the global market for vinyl cyclohexane.

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Vinyl Cyclohexane Market Drivers – Analyst’s Observation

According to the analysts at KD Market Insights, some key growth drivers for the global vinyl cyclohexane market are:

• Growing Demand for Vinyl Cyclohexane from Chemical and Polymer Industries: Nowadays, polymers are used in almost all the products that we see around us. These may range from clothing that are made of synthetic fibers, including non-woven fabrics, to Teflon-coated cookware. Owing to the unique properties of vinyl cyclohexane, such as high melting point and heat resistance properties, it makes its use as a valuable intermediate material for the production of chemicals and polymers. As per our researchers, vinyl cyclohexane is known to have a boiling point of 128°C, along with a refractive index of n20/D 1.446 and density of 0.805 g/mL at 25°C.
• Expanding R&D Activities in the Chemical Industry: One another significant factor that is anticipated to contribute to the market growth is the opportunities arising as a result of continued research and development efforts of businesses that focuses on exploring new applications and derivatives of vinyl cyclohexane. Supported by the increasing research and development (R&D) spending globally, which as per our analysts recorded roughly to be around USD 42 billion in 2022, the scope of market expansion during the forecast period also increases.

Which Probable Factors Could Hamper the Growing Vinyl Cyclohexane Market Trend?

As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of vinyl cyclohexane are:

• Stringent Environmental Regulations: Due to the concerns associated with the impact on the environment for the chemical, the production and use of vinyl cyclohexane is subjected to stringent environmental regulations. Such a factor is therefore expected to limit the market growth in the coming years.
• Availability of Low Cost Alternatives: The market for vinyl cyclohexane faces steep competition from emerging alternative materials that offer similar functionalities and properties at a lower cost. As a result, the shift towards these low-cost alternatives would impact the demand for the chemical, and limit the market growth.

How is the Global Vinyl Cyclohexane Market Segmented?

Our experts at KD Market Insights have segmented the global vinyl cyclohexane market as:

What are the Probable Factors Influencing the Asia Pacific Vinyl Cyclohexane Market Forecast?

The Asia Pacific vinyl cyclohexane market is majorly driven by the ongoing industrialization and urbanization in countries, such as China, India, and other Southeast Asian nations. The region has also been witnessing a rapid expansion in the demand for several chemicals and polymers that are used across different end-user industries, such as construction, infrastructure development, and consumer goods among others. Hence, with the expanding chemical industry in the region, the demand for specialty chemicals, such as vinyl cyclohexane is projected to increase, and in turn, contribute to the market growth.

As per our analysts at KD Market Insights, the following five players lead the Asia Pacific vinyl cyclohexane market growth:

• China National Petroleum Corporation (CNPC)
• PTT Global Chemical Public Company Limited (PTTGC)
• JXTG Nippon Oil & Energy Corporation
• SABIC
• Toray Industries, Inc.

Which Key Players Top the Global Vinyl Cyclohexane Market Share?

As per our analysts at KD Market Insights, the competitive landscape of global vinyl cyclohexane market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with vinyl cyclohexane market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global vinyl cyclohexane market share:

• BASF SE
• Merck KGaA
• Cepsa
• Exxon Mobil Corporation
• Chevron Phillips Chemical Company
• DuPont
• Huntsman International LLC
• Clariant
• Dow
• Sunmarks, LLC
• Idemitsu Kosan Co., Ltd.
• bp p.l.c.
• Liaoning Yufeng Chemical Co., Ltd.
• PTT Global Chemical Public Company Limited
• Toray Industries, Inc.
• DSM
• China National Petroleum Corporation
• SABIC
• Norquay Technology

What are the Recent Developments Observed in the Vinyl Cyclohexane Market?

Over the years, the experts at KD Market Insights have been observing the recent developments associated with global vinyl cyclohexane market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.

For instance, LANXESS recently announced that in association with Advent, it would acquire the Engineering Materials business from DSM for manufacturing high-performance engineering polymers.

Further, McDermott announced that it has been awarded a project management consultancy (PMC) contract from the Indian Oil Corporation for its Maleic Anhydride (MAH) unit located at Panipat, India. This plant would also produce other chemicals including Tetra Hydro Furan (THF), used in adhesives and vinyl film.