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Cyclohexylbenzene Market Size By Type (Electronic Grade and Industry Grade), By Application (Intermediate, Solvent and Others) Industry Analysis Report, Country Outlook Application Development, Price Trends, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI4886
  • Published Date: Feb 2022
  • Report Format: PDF

Industry Overview

Cyclohexylbenzene Market size surpassed USD 375 million in 2020 and is estimated to grow at over 4% CAGR from 2021 to 2027. The increasing use of cyclohexylbenzene by electronics and electrical manufacturers in the form of solvents, intermediates and additives for various chemical products is expected to spur the market growth.
 

Cyclohexylbenzene Market

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Cyclohexylbenzene, also called phenylcyclohexane, is a clear, colorless oily liquid that dissolves in compounds such as acetone, alcohol, benzene, hexane, xylene, carbon tetrachloride, and castor oil. The molecular formula is C12H16. Cyclohexylbenzene is insoluble in glycerol and water, so it is widely used in the manufacture of lithium batteries, liquid crystal displays and plastics. In addition, it can be used as a penetrant used in the adhesive, plastic, ink, dye, and paint industries. The commercial application of cyclohexylbenzene as a phenol precursor or intermediate to produce phenolic resins is expected to boost the overall cyclohexylbenzene industry expansion.
 

Increasing demand for the development of many new technologies such as smartphones, laptops, smart gadgets, personalized healthcare devices, and cyclohexylbenzene-based artificial intelligence and speech recognition technologies is expected to support the growth of the cyclohexylbenzene market.
 

The increasing use of cyclohexylbenzene in the production of lithium-ion battery electrolytes and LCD material intermediates will drive the market for electronic grade segment.

Cyclohexylbenzene market for electronic grade segment was valued at over USD 245 million in 2020 and is anticipated to grow at over 4.5% CAGR up to 2027. Cyclohexylbenzene is a major raw material for producing LCD material intermediate 4-ethyl cyclohexyl benzoic acid. LCD electronics are used as an anti-overcharge additive for lithium-ion battery electrolyte to improve battery safety. Lithium iron phosphate, lithium cobalt oxide, and manganese oxide batteries are few of the prominent lithium-ion battery chemistries that have witnessed significant adoption rates across a wide range of applications. Introduction of favorable policies to promote electric vehicles, increasing economies of scale and overcapacity in component manufacturing has significantly brought down the per kWh cost of batteries which will augment the lithium-ion battery demand.
 

Electronic Grade Cyclohexylbenezene Market

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In addition, the surging sales of smartphones and PC will boost the utilization of electronic grade cyclohexylbenzene across the globe. For instance, in 2019, global smartphone sales reached 1.37 million units, while personal computer sales reached 2.2 million units. This should boost the overall cyclohexylbenzene market statistics.
 

Growing demand of organic solvents from different industries such as paint & coating, plastic & adhesives, etc. will stimulate the demand of cyclohexylbenzene

Cyclohexylbenezene Market for Solvent Application

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The global cyclohexylbenzene market as a solvent exceeded USD 195 million in 2020 and is anticipated to witness over 4.8% CAGR from 2021 to 2027. Cyclohexylbenzene finds wide application scope in numerous end-use industries. It is used as high boiling point solvent in chemical engineering and as a penetrant in plastics, painting, and adhesives industries. They are also used as carriers for disinfectants and aerosols. The shifting focus of manufacturers towards R&D to develop more efficient renewable and environmentally friendly products and to expand business in the potential application industries will also drive the market size.
 

Favorable government trade policies such as NAFTA, Chemical Tariff Harmonization Agreement (CTHA), The UK-Japan Comprehensive Economic Partnership Agreement (CEPA), ASEAN-India Free Trade Area (AIFTA), and United States-Mexico-Canada Agreement (USMCA) will augment the chemicals, electronics, automotive, and construction business revenue, thus propelling the overall industry landscape.
 

Increasing global demand for lithium-ion batteries and liquid crystal display (LCD) will spur the business landscape in Asia Pacific

Asia Pacific Cyclohexylbenzene Market

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Asia Pacific cyclohexylbenzene market size is expected to cross USD 245 million by 2027growing at a CAGR over 4.5%. Growing global demand of lithium-ion batteries and liquid crystal display (LCD) augmenting the utilization of cyclohexylbenzene in Asia Pacific. This majority share is predominantly due to rising product utilization in the production of lithium-ion batteries and liquid crystal display (LCD). Countries such as China, India, South Korea, Japan are the main clusters of lithium-ion batteries, ICs, LCDs, semiconductors, and relevant electronic components. These components have been utilised in consumer electronics such as laptop, cell phones, computers. TVs and other consumer electronics owing to favourable factors such as long life, high efficiency, and high gravimetric & volumetric energy.
 

Increasing investments in R&D and product innovations by industry participants to accelerate market competitiveness

Key players operating in the cyclohexylbenzene market include Thermo Fischer, Sigma Aldrich, Kishida Chemical, Schultz Chemicals, TCI Chemicals, J&H Chemical, AA Blocks, Santa Cruz Biotechnology. The major market players are engaged in extensive research & development to develop innovative products and increasing efforts to develop high quality and cost-effective products used in various application.
 

For instance, in August 2020, Tokyo Chemicals Industry, Co., Ltd announced to launch a digital storefront that was created by Capgemini and built on SAP Commerce Cloud solution and Digital Customer Experience (DCX) practice. The new digital customer platform includes nine languages and currencies, across eight independent regional websites and would support operations in 20 countries. This strategy will help Tokyo Chemical Industry to enhance the B2B customer experience and product sales covering around 20 countries globally.
 

The global cyclohexylbenzene market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons & revenue in USD Thousand from 2016 to 2027 for the following segments:

By Type

  • Electronic Grade
  • Industry Grade

By Application

  • Intermediate
  • Solvent
  • Others

The above information has been provided for the following countries:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Malaysia
  • Latin America (LATAM)
    • Brazil
  • Middle East & Africa (MEA)
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Kunal Ahuja, Tushar Malkani

Frequently Asked Questions (FAQ) :

The global cyclohexylbenzene industry size had crossed USD 375 million in 2020 and is poised to record a 4% CAGR through 2027 due to the higher adoption by electronics and electrical manufacturers in various chemical products.

Cyclohexylbenzene is a clear and colorless oily liquid that is extensively utilized in the manufacturing of lithium batteries, liquid crystal displays and plastics.

Demand for electronic grade cyclohexylbenzene had surpassed USD 245 million in 2020 and is expected to strike a 4.5% CAGR through 2027 owing to its increasing usage as a raw material in the production of LCD material intermediate 4-ethyl cyclohexyl benzoic acid.

Cyclohexylbenzene industry share in the Asia Pacific is anticipated to reach over USD 245 million by 2027 on account of the rising demand for lithium-ion batteries as well as liquid crystal display.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 24
  • Tables & Figures: 317
  • Countries covered: 19
  • Pages: 280

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