LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global cyclohexane market report from 2017-2021. This market research report also lists six other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
The competition among the players in the global cyclohexane market is primarily based on technology, trait leadership, price, quality, and cost. Several global and regional players are present in the market. It is dominated by large-scale vendors like BASF, CEPSA, Chevron Phillips Chemical, ExxonMobil, and Huntsman and is highly competitive. These players have numerous production facilities and hence have vast geographical presence. The small regional vendors contribute a considerable amount of market share.
According to Ajay Adikhari, a lead analyst at Technavio for specialty chemicals research, “The rising demand for caprolactam in China is one of the factors that is driving the growth of the cyclohexane market. The largest importer and producer of nylon filament yarn in the world is China. China is also claimed to be the largest importer of caprolactam in the world. In the next five years, both production and demand for caprolactam is expected to rise because of development of industries such as automotive, military, and sports equipment in China.”
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Technavio market research analysts identify the following key vendors:
BASF increased its capacity for cyclohexane oxidation at its Antwerp Verbund site to 50,000 tons per year. The expansion was implemented as part of two long-term planned turnarounds and was completed by the end of 2014. The cyclohexane oxidation capacity expansion has further increased the backward integration of the polyamide value chain at the Antwerp Verbund site and has helped in reducing dependency on external suppliers of cyclohexane oxidation products.
The chemistry segment of CEPSA is thoroughly integrated with refining. It produces and commercializes more than 3 million tons of petrochemical products per annum. CEPSA produces cyclohexane at the La Rábida refinery with a production capacity of 180,000 tons per year. CEPSA has the only cyclohexane manufacturing facilities in Spain and is one of the leading producers in Europe.
Chevron Phillips Chemical
Aromatics Group of Chevron Phillips Chemical is one of the top producers of benzene, paraxylene, and cyclohexane. With mass-scale production facilities, the company claims to be one of the largest marketers of cyclohexane globally, sourcing product from the three largest cyclohexane plants in the world.
ExxonMobil Chemical is a global producer of hydrocarbon fluids such as cyclohexane and key oxygenated fluids. Recent capacity expansions in Antwerp and Singapore, along with the revamp of the Baton Rouge plant, showcase the company’s long-term commitment to the fluids market. ExxonMobil is fully integrated into the feedstock and raw materials, from crude oil to finished product, required to produce fluids.
Aromatics production by the Huntsman in Europe takes place at two integrated manufacturing facilities located in Wilton, UK, and North Tees, UK. The company is one of the prominent European producers of cyclohexane with an annual capacity of 725 million pounds. It is also one of the leading benzene producers in Europe with 1,200 million pounds of annual capacity. Most of the benzene produced is used in-house to produce nitrobenzene and cyclohexane. The balance aromatics products are sold to several key customers.
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