Report Description
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).
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
Segment Covered:
This market intelligence
report on the global Cyclohexane Market encompasses market segments based on application, end
use, Industry and country.
By
Application the global Cyclohexane Market has been divided into:
·
Adipic acid
·
Caprolactam
·
Others
By End
Use the global Cyclohexane Market has been divided into:
·
Nylon 6
·
Nylon 66
·
Others
By
Industry the global Cyclohexane Market has been divided into:
·
Paints &
Dyes
·
Electronics
·
Textiles
·
Optical
Brighteners
·
Manufacturing of
Fibers
·
Magnetic Tapes
·
Agriculture
·
Pharma
·
Natural &
Synthetic Resins
·
Lubricating Oil
·
Organic
Synthesis
·
Films
·
Soaps
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
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.
Report Highlights:
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.
Salient Features:
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
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Cyclohexane Market
v
Identification
of key factors driving investment opportunities in the Cyclohexane Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
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