The vinyl cyclohexane market is expected to witness steady growth on the back of rise in the demand for the product in chemical research studies. Vinyl cyclohexane is majorly used in the chemical industry for conducting R&D and for the production of derivative chemicals. The product is massively used in polymer & copolymer production and laboratory research applications. Research conducted on new types of co-polymers and polymers and rising demand for polymers will support vinyl cyclohexane market development over the projected period.
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Continuing trend of replacing metals with polymers could have a considerable impact on the industry outlook. As the polymers sector continues to witness lucrative growth, manufacturers and suppliers of 97% purity vinyl cyclohexane are likely to observe new business opportunities over the coming years. A research conducted by Global Market Insights, Inc, indicates that the 97% purity segment accounted for around 25% demand in vinyl cyclohexane market share in 2020.
The chemical application segment seized a major demand share, accounting for around 90% of the total demand in 2020. However, demand in the chemical sector is volatile and is largely depended on research activities carried out across laboratories around the world. Besides, the hazardous characteristics of vinyl cyclohexane may also create certain challenges for market participants and end-users.
The industry comprises of multinational chemical firms who are known to follow an integrated business model or specialties business model. Some of the players operating in the industry follow the business models for staying competitive in the market. Sigma Aldrich, BOCSCI, Inc., and Tokyo Chemical Industry Co., Ltd. have both custom synthesis programs with an integrated supply chain. Industry players are constantly focusing on taking strategic initiatives like mergers, acquisitions, and joint ventures for maintaining a competitive edge or related firms.
Proliferating growth in the polymer industry has encouraged firms to take in strategic initiatives to boost business growth. In 2021, Saudi Arabia's petrochemicals producer, Sabic revealed that it would take over marketing and sales operations of most of Saudi Aramco's polymer and petrochemicals products.
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North America is also a well-settled market for vinyl cyclohexane owing to the presence of leading supplier and manufacturers and established end-user industries. The regional market will grow as to strong research & development activities fueled by government incentives and increasing R&D expenditure. Vinyl cyclohexane demand will also extend due to multiplying end-user industries. The regional product demand is estimated to rise with more than a 5% CAGR during the anticipated timeframe, cite reports.
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