Market Overview: The global market for Cyclohexane Dimethanol (CHDM) exhibited substantial growth in 2020 and is projected to maintain a steady revenue compound annual growth rate (CAGR) throughout the forecast period. The market's revenue growth is primarily driven by the increasing adoption of cyclohexane dimethanol in the Paints and Coatings industry, along with rising demand from various sectors such as automotive, chemical, medical, electronics, and packaging. Factors such as industrialization, rapid growth in the building and construction sectors, and continuous demand for CHDM contribute to its increasing market demand.
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Market Dynamics: Drivers: The demand for CHDM in the production of polyester resins, paint coatings, food and cold drink packaging, metal coatings, construction materials, adhesives, and lubricants is expected to support the market's growth. The automotive, construction, and chemical industries are significant users of CHDM, and the increasing demand from the medical and pharmaceutical sectors also contributes to market revenue growth. CHDM serves as a chemical intermediate in the production of saturated and unsaturated polyester resins, offering exceptional heat and corrosion resistance, strength, and flexibility. The chemicals industry's growing demand for CHDM is expected to fuel the market's significant growth.
Many major players, particularly in developing countries and regions, are investing in expanding production capacities to meet the rising demand from packaging, automobile, construction, and other industries globally. In the Asia Pacific region, China and Korea are home to numerous CHDM product manufacturers, driving market growth in the region.
Restraints: Fluctuating costs and safety concerns are identified as key factors that may slightly impede the global market's growth during the forecast period.
Market Insights: Type Outlook: The Cis/Trans Ratio: 30:70 segment is projected to exhibit the highest revenue CAGR during the forecast period.
Application Outlook: In 2020, the polyester materials segment accounted for the largest revenue share among the application segments in the global market.
Region Outlook: The North America market is expected to capture a substantially larger revenue share compared to other regional markets during the forecast period. The region's rapid industrialization, steady growth in the building and construction sector, and ongoing developments in the chemical industry contribute to the market's expansion. The high demand for and production of coatings and polyester materials, widely utilized in the automotive industry, are also anticipated to drive the growth of the cyclohexane dimethanol market in North America.
The Asia Pacific market experienced a rapid revenue CAGR in 2020, and this trend is expected to continue throughout the forecast period. Manufacturers in China and Korea are making substantial investments in technological advancements, which will support the growth of the Asia Pacific cyclohexane dimethanol market.
Companies profiled in the market report: Some of the major players in the global Cyclohexane Dimethanol (CHDM) market include Eastman, SK NJC, Feixiang Group, and Kangheng Chemical. These companies are adopting various strategies, such as mergers, acquisitions, partnerships, and new product development, to stay competitive, expand their market footprint, and increase their revenue share.
Segments covered in the report: The report provides historical data, forecasts, and revenue growth at the global, regional, and country levels. It offers analysis of industry trends, consumption patterns, and detailed information for each region, major country, and segment from 2018 to 2028. The report encompasses industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contributions for each regional and country market. Additionally, the report includes industry analysis, competitive landscape, company financials, and impact analysis. It presents a comprehensive view of the global Cyclohexane Dimethanol Market, including changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and historical, current, and projected revenues.
For the purpose of this report, the global Cyclohexane Dimethanol (CHDM) market is segmented based on type, application, and region:
Type Outlook (Revenue, USD Billion; 2018 – 2028):
- Cis/Trans Ratio: 30:70
- Cis/Trans Ratio: 25:75
- Tall Oil Rosin (TOR)
Application Outlook (Revenue, USD Billion; 2018 – 2028):
- Polyester Materials
- Coating Materials
- Others
Region Outlook (Revenue, USD Billion; 2018 – 2028):
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East Africa
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