Cyclohexylbenzene Market projected to exceed $485 million by 2026, Says Global Market Insights Inc.
The rising application of cyclohexylbenzene in chemical intermediates for various industrial uses such as chemical and automotive sectors should support the market growth. Additionally, rising demand for chemical intermediates in research and development led to fuel the cyclohexylbenzene market growth, says this report.
SELBYVILLE, Del., January 14, 2021 (Newswire.com) - Based on Global Market Insights Inc., report, the global Cyclohexylbenzene Market size was estimated at $360 million in 2019 and is slated to surpass $485 million by 2026, registering a CAGR of over 4% from 2020 to 2026. The report provides a comprehensive analysis of the top winning strategies, wavering industry trends, drivers & opportunities, top investment avenues, competitive scenarios, market estimations & size.
Global electronic grade cyclohexylbenzene market demand should surpass USD 315 million by the year 2026 and expected to show growth of 4.5% CAGR between 2020 to 2026. As cyclohexylbenzene is an important raw material used in the production of LCD material intermediates such as 4-ethyl cyclohexyl benzoic acid.
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Liquid crystal display is used in electronic products such as watches, calculators, and laptop computer screens. Hence this widespread application of liquid crystal display should fuel the demand for electronic grade cyclohexylbenzene. Moreover, increasing economies of scale and overcapacity in component manufacturing and the introduction of favorable policies to promote electric vehicles has significantly generated opportunities for players to serve the various end-use industries.
The European region is anticipated to show significant growth of 4.0% of CAGR in the global cyclohexylbenzene market share and is anticipated to reach USD 105 million by 2026. It is owing to the high potential growth of Europe's automotive paints & coatings market and a strong presence of major manufacturers. This factor is likely to propel the demand for intermediates and organic solvents. Industry participants are engaged in mergers & acquisitions for enhancing their market position.
For instance, in December 2016, BASF completed the acquisition of Chemetall, resulting in the expansion of the company's coatings portfolio. Besides, the expansion of vehicle manufacturing facilities in Germany, the UK, and France will further support the product penetration over the region. Hence, this growing production in end-use industries such as the automotive and electronic battery is likely to support the cyclohexylbenzene market growth.
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Major market leaders in the cyclohexylbenzene industry include Sigma Aldrich, TCI Chemicals, Thermo Fisher Scientific, Santa Cruz Biotechnology, Clearsynth, ABCR GmbH, Angene International Limited, Alfa Chemistry, AA Blocks, 3B Scientific (Wuhan) Corporation Ltd, Sinfoo Biotech, Aaron Chemicals, Haihang Group, AK Scientific, Inc., Oakwood Chemical, Combi-Blocks, Biosynth Carbosynth, Hairui Chemical, Amadis Chemical, Ivy Fine Chemicals, Schultz Chemicals, and J&H Chemical Co. Ltd. Companies are adopting strategic measures such as capacity expansion, acquisitions, mergers, and partnerships to increase global presence, improve product offering and boost market share.
Read the latest blog on "Demand for lithium-ion batteries to boost revenue streams in cyclohexylbenzene industry": https://marketprimes.com/cyclohexylbenzene-industry/
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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Source: Global Market Insights Inc.
