Vinyl Cyclohexane Market Expected to Reach $94.8 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Vinyl Cyclohexane Market," The vinyl cyclohexane market was valued at $57.4 million in 2021, and is estimated to reach $94.8 million by 2031, growing at a CAGR of 5.3% from 2022 to 2031.

Vinyl cyclohexane is utilized primarily in the chemical and polymer industries due to its unique set of properties. By polymerizing vinyl cyclohexane in the presence of a Ziegler-Natta catalyst, it is possible to produce polymers with an isotactic configuration that have a high melting point and excellent heat resistance.

Numerous studies have been conducted on vinyl cyclohexane-based polymers as a result of the polymer industry's continuous search for a new compound or derivative with superior properties compared to conventional polymers. Low birefringence and a high heat deflection temperature make vinyl cyclohexane-based polymers suitable for optical applications (optical data storage media and lenses). In addition, the expansion of polymer industry research and development activities and the potential commercialization of vinyl cyclohexane-based polymers are projected to propel vinyl cyclohexane's market share.

The growth of the vinyl cyclohexane market is majorly reliant on R&D in major end-user industries, such as chemicals and polymers. An increase in research and development studies on the product's derivatives may expand market opportunities for market participants. Numerous polymer manufacturers strive ceaselessly to enhance the properties of common polymers and broaden their application scope. New copolymers with enhanced operational capabilities and superior working efficiency are manufactured. In a variety of applications, vinyl cyclohexane-based polymers have demonstrated great promise. The increase in the development of new types of polymers and copolymers to overcome the flaws of conventional polymers is anticipated to drive demand for vinyl cyclohexane.

The vinyl cyclohexane market is in its infancy because the majority of demand is driven by ongoing research and studies on the product. It is a pull market because manufacturers only produce the item when the end consumer increases demand. The product has attracted the attention of chemical and polymer manufacturers. Long-term growth is anticipated for the industry; however, market participants face obstacles such as the toxic and hazardous nature of the product.

Regulatory agencies including the ECHA and Globally Harmonized System of Classification and Labeling of Chemicals have categorized vinyl cyclohexane as a hazardous substance (GHS). The flammable nature of the product makes logistics and distribution operations challenging. In addition, higher product prices will pose a significant threat to the expansion of the industry.

The vinyl cyclohexane market is segmented into purity, end-use industry, and region. Depending on purity, the market is classified into 95%, 97%, and ≥ 98%. On the basis of end-use industry, it is categorized into chemical, building & construction, pharmaceutical, paints & coatings, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The major players operating in the global vinyl cyclohexane market are BASF SE, British Petroleum, Cepsa, Chevron Phillips Chemical Company LLC, Clariant Ltd, China National Petroleum Corporation, Dow Inc, DuPont, Exxon Mobil Corporation, Huntsman Corporation, Liaoning Yufeng Chemical Co., Ltd, Merck KGaA, SABIC, Thermo Fisher Scientific Inc, and Toray Industries, Inc. Other players operating in the market are PTT Global Chemical Public Company Limited, DSM, and Norquay Technology.

Key findings of the study

• On the basis of purity, the ≥ 98%segment is expected to grow at a CAGR of 5.5%, in terms of revenue, during the forecast period.
• Depending on the end-use industry, the pharmaceutical segment is expected to grow at a CAGR of 5.9%, in terms of revenue, during the forecast period.
• Region-wise, Asia-Pacific garnered a share of $33.9million in 2021 in terms of revenue.

IMPACT OF COVID-19 ON THE GLOBAL VINYL CYCLOHEXANE MARKET

• The production process was severely hindered during the pandemic due to industry lockdowns and the requirement for social distance because the industrial-scale synthesis of vinyl cyclohexane requires massive machinery, large-scale industrial reagents, and highly skilled individuals.
• Interruptions in the supply chain and supply-demand dynamics. As a result of the global lockdown imposed by the COVID-19 pandemic, the availability of raw materials necessary for the production of vinyl cyclohexane and the supply of finished goods were severely constrained. As a result, the demand-supply dynamics of the vinyl cyclohexane market were severely impacted.
• Since the release of the lockdown and other restrictions, the global vinyl cyclohexane market is expected to experience exponential growth. The majority of the market's expansion can be attributed to growth in the construction, healthcare, and various chemical industries.