Cyclohexane Dimethanol (CHDM) Market Size, Share, Growth, and Industry Analysis, By Type (Cis/Trans Ratio: 25:75, Cis/Trans Ratio: 35:65, Cis/Trans Ratio: 50:50), By Application (Polyester Materials, Coating Materials and Others), Regional Insights, and Forecast To 2033

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CYCLOHEXANE DIMETHANOL (CHDM) MARKET REPORT OVERVIEW

The global cyclohexane dimethanol (chdm) market size was anticipated to be worth USD 0.59 billion in 2024 and is expected to reach USD 0.67 billion by 2033 at a CAGR of 5.8% during the forecast period.

Cyclohexane dimethanol (CHDM) is a chemical compound with the molecular formula C8H16O2. It is also known by its systematic name 1, 4-cyclohexanedimethanol. CHDM is a colorless liquid with a molecular weight of 144.21 grams per mole.

CHDM is primarily used in the production of polyesters, specifically polyethylene terephthalate (PET) and polybutylene terephthalate (PBT). It is used as a co-monomer in the synthesis of these polyesters, where it reacts with terephthalic acid or dimethyl terephthalate to form the polymer chains. The incorporation of CHDM in the polyester structure improves the polymer's chemical and physical properties.

COVID-19 IMPACT

"Pandemic Decreased the Market Demand"

The global COVID-19 pandemic has been unprecedented and staggering, with the cyclohexane dimethanol (CHDM) market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

There have been some positive impacts of COVID-19 on the cyclohexane dimethanol (CHDM) market share. During the pandemic, many manufacturing facilities worldwide experienced disruptions in operations due to lockdown measures, reduced workforce, and supply chain challenges. These factors have affected the production and availability of cyclohexane dimethanol (CHDM), potentially leading to supply shortages or delays. The demand for CHDM is closely linked to the production of polyesters, particularly PET and PBT. The pandemic resulted in significant disruptions in several downstream industries that utilize these polyesters, such as textiles, packaging, automotive, and construction. With the closure of retail stores and a decline in consumer spending on non-essential items, the demand for textile products, including clothing and home furnishings, was adversely affected. This, in turn, reduced the demand for CHDM-based polyesters used in textile applications. Automotive and construction sectors also faced significant challenges during the pandemic, with many production facilities temporarily shutting down or operating at reduced capacities. The reduced demand for vehicles and construction activities have resulted in a decrease in the demand for CHDM-based polyesters used in automotive parts and electrical insulation.

LATEST TRENDS

"Focus on sustainability and circular economy to fuel the growth in the market"

This trend is driven by the need to minimize environmental impact, comply with regulations, and meet the growing demand for sustainable products. In the context of cyclohexane dimethanol (CHDM), companies are actively exploring strategies to align with sustainability goals. One aspect involves minimizing waste generation and optimizing production processes to reduce resource consumption. Efforts are being made to improve the efficiency of CHDM production, with a focus on reducing energy and water consumption, and minimizing emissions. Moreover, the concept of a circular economy is gaining prominence. This approach emphasizes recycling and reusing materials to create a closed-loop system. In the CHDM market, companies are exploring ways to recover and recycle CHDM from post-consumer and post-industrial waste. This involves implementing effective recycling technologies and developing partnerships along the value chain to facilitate the collection and processing of waste materials. Additionally, research and development efforts are focused on developing bio-based alternatives to cyclohexane dimethanol (CHDM), which can help reduce dependence on fossil fuels and mitigate environmental impact.

CYCLOHEXANE DIMETHANOL (CHDM) MARKET SEGMENTATION

By Type

According to type, the market can be segmented Cis/Trans Ratio: 25:75, Cis/Trans Ratio: 35:65, Cis/Trans Ratio: 50:50.

By Application

Based on application, the market can be divided into Polyester Materials, Coating Materials and Others.

DRIVING FACTORS

"Growing demand for polyester to foster the market growth"

The demand for polyester-based products has been a significant driver of the CHDM market. Polyester is a versatile synthetic material used in various industries, including textiles, packaging, automotive, and construction. Factors such as population growth, urbanization, and rising disposable incomes contribute to the increasing demand for polyester. In the textile industry, polyester fibers are favored for their durability, wrinkle resistance, and ease of care. The rising global population, particularly in emerging economies, has led to a surge in demand for textiles and clothing, driving the demand for polyester and, consequently, cyclohexane dimethanol (CHDM) as a key raw material.

"Industrialization and economic growth to result in the expansion of the market"

Industrialization and economic growth play a crucial role in driving the CHDM market. As countries experience industrial development and infrastructural expansion, the demand for polyester-based materials rises. Industrial sectors such as textiles, packaging, and automotive rely heavily on polyester fibers and resins, which require CHDM in their production processes. Emerging economies, including China, India, and Southeast Asian nations, have witnessed significant economic growth, leading to increased manufacturing activities and infrastructure development. This growth translates into higher demand for polyester-based products, bolstering the demand for CHDM. Additionally, urbanization and rising middle-class populations in these regions contribute to increased consumption of textiles and packaging materials, further driving the cyclohexane dimethanol (CHDM) market growth.

RESTRAINING FACTORS

"Environmental regulations to hamper the market growth"

The chemical industry, including the CHDM market, is subject to various environmental regulations and restrictions. Governments worldwide are implementing stricter regulations to reduce carbon emissions, promote sustainable practices, and limit the use of certain chemicals. Compliance with these regulations often requires investments in pollution control measures and sustainable production processes, which can increase costs for CHDM manufacturers.

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CYCLOHEXANE DIMETHANOL (CHDM) MARKET REGIONAL INSIGHTS

"North America to lead the market owing to the strong industrial base and technological advancements."

The region that had shown significant market growth in the Cyclohexane Dimethanol (CHDM) market was the North America region. North America has a well-developed and diverse industrial base across sectors such as automotive, aerospace, electronics, healthcare, and packaging. These industries require a wide range of chemicals and materials, including Cyclohexane Dimethanol (CHDM), for their manufacturing processes. The strong industrial base and continued investments in these sectors create a favorable environment for market growth.

KEY INDUSTRY PLAYERS

"Key players are employing advanced technologies in order to stimulate further growth of the market."

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Top Cyclohexane Dimethanol (Chdm) Companies

• Kangheng Chemical: Headquarters in Zhangjiagang, Jiangsu Province, China.
• Kellin Chemicals: Headquarters in Mumbai, Maharashtra, India.
• Eastman: Headquarters in Kingsport, Tennessee, United States.
• SK NJC: Headquarters in Ulsan, South Korea.

REPORT COVERAGE

This report examines an understanding of the cyclohexane dimethanol (CHDM) market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.