Scienza e Tecnologia
Demand for 1,4-Dicyclohexylbenzene to Grow by 3.7% CAGR as Sales Increases in Chemical Intermediate: Future Market Insights
Increasing applications of 1,4-dicyclohexylbenzene as an additive and in paints & coatings and plastic components in the automotive industry are spurring its demand. Rising automotive sales across the globe also is anticipated to translate into sales opportunities for 11,4-dicyclohexylbenzene producers over the assessment period.
In response to high demand from the chemical industry, leading players operating in the market are investing in research and development activities. Besides this, they are collaborating various with end-use industries to develop products according to specific requirements. This is anticipated to create lucrative opportunities for growth in the forthcoming years.
On the flip side, stringent regulations implemented to curb greenhouse emissions are encouraging manufacturers to develop products with minimum toxic content. As a result, various end-use industries are becoming more mindful regarding the consumption of 1,4-dicyclohexylbenzene, which might negatively impact growth.
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As per FMI's analysis, the U.S. is projected to dominate the North America 1,4-dicyclohexylbenzene market over the forecast period. Expansion of the automotive, chemical and personal care industries and the presence of key market players will continue propelling sales in the country through 2031.
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Key players operating in the global 1,4-dicyclohexylbenzene market are focusing on intensive research and development to diversify their product portfolios and innovate products suitable for various end-use applications. In addition to this, mergers, acquisitions, and collaborations will remain prominent growth strategies adopted by key market players to expand their global footprint.
The latest market study on the 1,4-dicyclohexylbenzene market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global 1,4-dicyclohexylbenzene market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
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Overall market valuation will surpass US$ 297.3 Mn in 2021. Surging applications in electrical and electronics sectors will remain a chief growth driver, enabling the market exhibit a compound annual growth rate (CAGR) of 3.6%.
- Hydrofluoric acid sales are projected to grow at a 2.9% CAGR between 2021 and 2031. The material is increasingly used in the production of fluorochemicals. However, stringent regulations imposed to restrict global warming might pose a serious challenge to the market over the forecast period. Regardless, the increasing use in steel pickling and metal treatment for the removal of unwanted layers, will continue to drive consumption.
- The global magnesium carbonate minerals market will expand at a CAGR of 5% over 2020-2030. The market is witnessing a demand upswing from various end-use sectors for refractory applications. Magnesite remains the preferred mineral form; hydromagnesite to gain gradual traction.
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