A notable traction in industries, including plastics, painting and adhesives has made cyclohexylbenzene market a highly lucrative portfolio. A robust rise in battery innovation is playing an invaluable role in improving battery safety. Industry experts believe meteoric rise of lithium-ion battery electrolyte has made cyclohexylbenzene an indispensable raw material for producing LDC material.
Legacy players are infusing funds in leading-edge process design to considerably reduce equipment count, enhance capital utilization and boost scale. Not to mention, considerably enhanced energy efficiency has underpinned sustainable production of petrochemical intermediates. In terms of revenue, cyclohexylbenzene market size is forecast to surpass US$485 million by 2026 worldwide.
In a bid to gain a competitive edge in chemical space, Schultz has reportedly developed a new product of the high purity cyclohexylbenzene in May 2020. The company opines it will help them surmount the seeming complication in the purification and separation between cyclohexylbenzene and its by-products with an ocean of technical innovations.
Stakeholders are placing high importance on the purity of cyclohexylbenzene as Schutz claims the purity of cyclohexylbenzene to be 98 to 99% in the market.
Window of opportunity in lithium-ion cell manufacturing
As a pivotal additive of the electrolyte of the lithium-ion secondary battery, cyclohexylbenzene is said to enhance the circulation pattern of the lithium-ion battery, boosting safety performance and providing protection from overcharging. Industry players appear to envisage investments in lithium-ion cell manufacturing as a winning move. Autonomous vehicle manufacturers and EV makers are likely to cash in on the available window of opportunity.
After announcing the launch of 20 zero-emission vehicles by 2023, GM is gearing to develop lower cost ultium lithium-ion batteries to foster new EV line. While they are developing new chemistries, the new cells are expected to be produced at the new GM-LG Chem Joint Venture plant in Ohio.
Favorable government approach will potentially boost production of lithium-ion cells in emerging economies. For instance, the Government of India has announced the production-linked incentive (PLI) scheme to boost local manufacturing of lithium-ion cells. Industrial battery manufacturers such as Exide Batteries may reportedly diversify into Li-ion cell manufacturing.
Investments toward the production of hydrogen peroxide cyclohexylbenzene that when decomposed, can be fruitful in the production of reusable chemical raw materials of cyclohexylbenzene and phenol. Aimed at boosting the digital footprint, Tokyo Chemical Industry teamed up with Capgemini in August 2020. Reports indicate the collaboration will help TCI to create more intuitive and personalized B2B experience.
Optimizing deployment of cyclohexylbenzene in automotive industry
A steady growth in automotive production in 2020 should muster up the confidence of stakeholders. While the production of vehicles in the first quarter neared 20 million, the second quarter witnessed automotive production of over 30 million. In the similar vein, production was up by 20 million—being pegged at over 50 million in Q3 2020.
Triggered by initiatives such as the Paris Agreement, various countries have joined the bandwagon to enact rigorous emissions controls on new vehicle models. Car makers have exhibited liking for electric mobility.
Autonomous vehicles and mobility services will potentially spearhead the megatrends and bring a paradigm shift in the automotive industry. Industry experts are bullish witnessing the disruption in the automotive industry as they assert that the pandemic has prompted growth of online traffic and OEMs to partner with producers and suppliers of materials used in component production
Having an online presence will potentially be a game changer for automakers and augur well for stakeholders in cyclohexylbenzene industry.