A recent market intelligence report that is published by Data Insights Partner on the global Cyclohexane Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Cyclohexane Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Cyclohexane Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Cyclohexane Market is offered. In accordance with the report, the global Cyclohexane Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints& Opportunity of the Market:
Nearly all cyclohexane (CX) is used in the production of nylon intermediates adipic acid (ADA), caprolactam (capro) and hexamethylene diamine to make nylon 6 or 6,6. Smaller outlets are as a solvent, a reaction diluent and in chemical synthesis. It is also a starting material to produce cyclohexanol-cyclohexanone (KA Oil).
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Supply in the European CX market remains at a tighter level, linked to a production issue at the end of 2016, a plant closure and a dip in imports at the start of the year.
Higher imports are required to balance the market, after the closure of SABIC’s Wilton, UK, facility in January 2017. The facility at Wilton has a nameplate capacity of 330,000 tonnes/year, according to DIP data, but was thought to have been running at approximately 195,000 tonnes/year before the closure, according to market sources.
Following the price hikes at the start of the year, imports were expected to arrive later in February, boosting the supply level. There were some logistical difficulties in transporting CX in January due to the low Rhine water levels.
Demand is at a reasonable level, with consumption of CX from the downstream caprolactum (capro) market at a high level.
The European contract price is mostly settled quarterly at a delta to benzene. The monthly CX contract price is composed of the sum of the monthly benzene contract price and the quarterly CX delta contract. The European Q1 2017 CX contract delta was agreed at €132/tonne, an increase of €5.5/tonne from the Q4 2016 contract. The significant increases in the monthly benzene contract for the first two months of 2017 resulted in a sharp increase in CX prices. CX prices are at their highest level since the end of 2014, driven by feedstock volatility.
The European CX market will become more reliant on imports in 2017 as a result of the closure of SABIC’s Wilton, UK, facility, leaving supply balance as the key talking point for 2017.
The looming closure resulted in a large amount of trading activity in 2016. Imports increased, and there was talk of spot being offered with a very high discount level in the summer.
2016 was expected to be the point of reckoning for the CX market, with a difficult trading year for sellers as players worked hard to cement relationships in readiness for the shift in 2017.
The question on everyone’s lips was where material is likely to come from to meet the demand in Europe.
There is potential for operating rates to be ramped up in Europe, with the excess capacity expected to be utilised after the shutdown. However, a large chunk of the deficit is expected to be filled by overseas product, especially from the US, making Europe more reliant on imports. At the start of 2016, CEPSA announced it would be reducing operating rates, cutting output by 50,000 tonnes as its Huelva, Spain, facility.
Although there has been no confirmation from the producer, once SABIC exits the European market there is expectation for production to be ramped back up.
BASF is shutting down 100,000 tonnes/year of its caprolactam (capro) production capacity in Europe, 20% of the total, within 18 months on the back of a difficult market environment, it said on 12 September.
After the shutdowns, BASF capro production capacity in Europe will be 400,000 tonnes/year.
The closure of Invista’s adipic acid plant in Orange, Texas, US, last year has also made substantial amounts of CX available.
At full capacity the facility produced 200,000 tonnes/year of adipic acid, which required 140,000 tonnes of CX.
Demand outlooks from buyers for 2020 are positive, with some seeing possible growth between 2-4%.
With the region becoming more dependent on imports, some buyers are concerned that shipping or weather issues could cause a short-term imbalance in the market.
There are also some concerns that with one less player in the market any production problems in Europe would hit the supply level quicker than before.
2016 – 6800 kt utilization rate roughly 70 percent – 4900 KT globally
2017 – 7300 kt utilization rate roughly 72 percent – 5256 KT globally
2018 – 7500 kt utilization rate roughly 74 percent – 5550 KT globally
2019 – 7700 kt utilization rate roughly 75 percent – 5775 KT globally
2020 – 8200 kt utilization rate roughly 78 percent – 6396 KT globally
2021 – 8400 kt utilization rate roughly 81 percent – 6804 KT globally
2022- 8600 kt utilization rate roughly 80 percent – 6880 KT globally
2023 – 8800 kt utilization rate roughly 79 percent – 6952 KT globally
This market intelligence report on the global Cyclohexane Market encompasses market segments based on application, end use, Industry and country.
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By Application the global Cyclohexane Market has been divided into:
- Adipic acid
By End Use the global Cyclohexane Market has been divided into:
- Nylon 6
- Nylon 66
By Industry the global Cyclohexane Market has been divided into:
- Paints & Dyes
- Optical Brighteners
- Manufacturing of Fibers
- Magnetic Tapes
- Natural & Synthetic Resins
- Lubricating Oil
- Organic Synthesis
By country/region, the global Cyclohexane Market has been divided into:
- North America (the U.S., Canada),
- Latin America (Brazil, Mexico, Argentina and other countries),
- Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
- Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
- Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
- Sinopec Limited (China Petroleum and Chemical Corporation)
- Reliance Industries Limited (India)
- BASF (Germany)
- The Dow Chemical Company (US)
- Chevron Phillips Chemical Company (US)
- Clariant (Switzerland)
- China Petroleum & Chemical Corporation (China)
- CEPSA (Spain)
- Idemitsu Kosan Co., Ltd (Japan)
- CITGO Petroleum Corporation (US)
- BP Refining & Petrochemicals GmbH (Germany)
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Cyclohexane Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Ø This study offers comprehensive yet detailed analysis of the Cyclohexane Market, size of the market (US$ Mn and Volume KiloTons), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Cyclohexane Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Cyclohexane caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Cyclohexane Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
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v Facilitate decision-making based on strong historic and forecast data
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v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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