Dublin, Aug. 15, 2023 (GLOBE NEWSWIRE) -- The "Cyclohexylbenzene Global Market 2023" report has been added to ResearchAndMarkets.com's offering.
The global cyclohexylbenzene market is projected to experience growth from $2.49 billion in 2022 to $2.59 billion in 2023, with a compound annual growth rate (CAGR) of 3.9%. Further expansion is anticipated, with the market reaching $2.98 billion by 2027, exhibiting a CAGR of 3.6%.
Driving Force: Rising Growth in the Electronics Industry
The growth of the electronics industry is set to drive the cyclohexylbenzene market. This sector not only contributes to economic development but also generates employment and accelerates progress in various domains. Cyclohexylbenzene plays a crucial role in the electronics industry, serving as an anti-overcharge additive in electric and electronic LCDs.
For instance, India's Ministry of Electronics & IT projected substantial growth in electronic product manufacturing, aiming to transform the country into a $300 billion electronics manufacturing powerhouse. The spectrum of electronic products includes mobile phones, IT hardware, consumer electronics, industrial electronics, auto electronics, electronic components, and more. The increasing manufacturing and demand for electronics will consequently fuel the demand for cyclohexylbenzene.
Product Innovation: A Key Market Trend
A notable trend in the cyclohexylbenzene market is the emphasis on product innovation by major players to gain a competitive edge. Market leaders are dedicating efforts to develop innovative cyclohexylbenzene products.
For instance, Schultz Canada Chemicals Ltd., based in Canada, introduced a novel high-purity cyclohexylbenzene product. This high-quality cyclohexylbenzene possesses characteristics suitable for advanced applications, making it an ideal displayer material. Furthermore, it enhances lithium-ion battery circulation patterns when used as an additive in the battery's electrolyte.
Industry Acquisitions for Expansion
In November 2021, US-based investment company KKR & Co Inc. acquired Biosynth Carbosynth, a Switzerland-based provider of carbohydrates, nucleosides, and enzyme substrates. This acquisition has led to the global expansion of Biosynth Carbosynth's business activities.
Regional Dynamics: Asia-Pacific Dominance and Growth
Asia-Pacific emerged as the largest region in the cyclohexylbenzene market in 2022. Moreover, this region is anticipated to witness the fastest growth during the forecast period. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa.
Key Players in the Cyclohexylbenzene Market
Prominent players in the cyclohexylbenzene market include Thermo Fisher Scientific Inc., Sigma-Aldrich, TCI Chemicals, Santa Cruz Biotechnology, Alfa Chemistry, Schultz Canada Chemicals Limited, Biosynth International Inc., Henan Tianfu Chemicals Company Limited, Syntechem Company Limited, Amadis Chemical Company Limited, Hairui Chemical, Oakwood Chemical, Dynovac, and Anshika Polysurf Limited. These players contribute to the market's growth and innovation through their diverse offerings and strategic approaches.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2027 |
| Estimated Market Value (USD) in 2023 | $2.59 Billion |
| Forecasted Market Value (USD) by 2027 | $2.98 Billion |
| Compound Annual Growth Rate | 3.6% |
| Regions Covered | Global |
Key Topics Covered
1. Executive Summary
2. Cyclohexylbenzene Market Characteristics
3. Cyclohexylbenzene Market Trends and Strategies
4. Cyclohexylbenzene Market Macro Economic Scenario
5. Cyclohexylbenzene Market Size and Growth
6. Cyclohexylbenzene Market Segmentation
7. Cyclohexylbenzene Market Regional and Country Analysis
8. Asia-Pacific Cyclohexylbenzene Market
9. China Cyclohexylbenzene Market
10. India Cyclohexylbenzene Market
11. Japan Cyclohexylbenzene Market
12. Australia Cyclohexylbenzene Market
13. Indonesia Cyclohexylbenzene Market
14. South Korea Cyclohexylbenzene Market
15. Western Europe Cyclohexylbenzene Market
16. UK Cyclohexylbenzene Market
17. Germany Cyclohexylbenzene Market
18. France Cyclohexylbenzene Market
19. Eastern Europe Cyclohexylbenzene Market
20. Russia Cyclohexylbenzene Market
21. North America Cyclohexylbenzene Market
22. USA Cyclohexylbenzene Market
23. South America Cyclohexylbenzene Market
24. Brazil Cyclohexylbenzene Market
25. Middle East Cyclohexylbenzene Market
26. Africa Cyclohexylbenzene Market
27. Cyclohexylbenzene Market Competitive Landscape and Company Profiles
28. Key Mergers and Acquisitions in the Cyclohexylbenzene Market
29. Cyclohexylbenzene Market Future Outlook and Potential Analysis
30. Appendix
A selection of companies mentioned in this report includes:
- Thermo Fisher Scientific Inc.
- Sigma-Aldrich
- TCI Chemicals
- Santa Cruz Biotechnology
- Alfa Chemistry
- Schultz Canada Chemicals Limited
- Biosynth International Inc.
- Henan Tianfu Chemicals Company Limited
- Syntechem Company Limited
- Amadis Chemical Company Limited
- Hairui Chemical
- Oakwood Chemical
- Dynovac
- Anshika Polysurf Limited
For more information about this report visit https://www.researchandmarkets.com/r/6fa9yk
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