Market Synopsis
According to MRFR, the global 1, 6 Hexanediol Market is maturing at a CAGR of 8.22% during the forecast period (2022-2030)
Market Segmentation
The global 1,6 hexanediol market, based on the application, has been segmented into fertilizers, food, refrigerants, pharmaceuticals, household, and others.
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Regional Overview
The regional analysis was carried out in large areas such as Asia Pacific, the Americas, Europe, the Middle East, and Africa.
Asia Pacific dominates the world followed by Europe and North America. Increasing polyurethane use in the automobile and construction industries is expected to fuel the growth of this region's 1,6 Hexanediol industry. The key suppliers in this area manufacture 1, 6 hexanediol in house value added commodity to reduce the total cost of end-use goods. Because of increased demand from end-use industries and favorable government regulations, China is the largest consumption region. European region is expected to expand significantly due to the increasing automotive industry, which in turn fuels the market for polyurethane.
Countries like Mexico and Brazil are projected to see strong growth in the Americas due to an rise in infrastructure construction programs and a rise in middle-class income
Market Highlights
Strong growth in demand for polyurethane through end-use industries such as shipping, building & manufacturing is projected to boost the global market for 1,6 hexanediol over the years. As polyurethane is flexible polymer, substantial progress has been made as 1,6 hexanediol can be tailored to suit the needs and health of end-use consumer manufacturing. Increasing demand for rigid foam in construction industry applications such as insulators, sealants and flooring is further anticipated to raise the market for 1,6 hexanediol for polyurethane processing.
The properties of 1,6 Hexanediol are of moderate porosity, strong thermal stability and reasonable high pressure physical stability, and polymer monoliths. Thanks to the above properties, 1,6 hexanediol is used in the manufacture of, among others, polyurethane, acrylates, paints & coatings, adhesives, polyester resins, and unsaturated plasticizers.
High resistance to water and colorless crystalline solid makes 1,6 hexanediol commonly used in paints & coatings, as well as acrylics, adhesives, and plasticizers. 1,6 hexanediol-based coatings provide a high degree of durability and surface toughness combined with good adhesion to substrates that often expected commodity demand in the years to come. In addition, the growing demand for industrial coatings is projected to drive market growth due to rapid end-user development in the industry. Protective coatings are used to enhance the consistency and cosmetic properties of the component on a wide scale in applications such as automobiles, transportation, and machinery & equipment. That is why rapid growth in the industry is projected to further accelerate business demand.
Nonetheless, the advancement of commodities in niche applications such as alkyd resins and UV curable resins coupled with technological growth for bio-based raw material processing is expected to create lucrative opportunities for market players in the industry. Nevertheless, some of the constraints in the development of the 1,6 hexanediol market are that 1,6 Hexanediol is a chemically active material and a hydroscopic material in nature which must be taken care of during the transport and processing of the drug. In addition, heath health protocols are a big problem for drug producers, as it will hinder future business growth.
Industry Updates
March 2020 - With immediate effect or as existing contracts permitted, BASF, a German multinational chemical giant, raised the prices of the polyalcohols Neopentylglycol (NPG) and 1,6-Hexanediol (HDO) in Europe.
Competitive Dashboard
- Ube Industries (Japan),
- Perstop AB (Sweden),
- BASF SE (Germany),
- Fushun Tianfu Chemicals Co., Ltd. (China),
- Lishui Nanming (China),
- Lanxess (Germany),
- Prasol Chemicals Pvt. Ltd. (India),
- Shandong Yuanli Science and Technology Co., Ltd. (China),
- TCI Chemicals (India) Pvt. Ltd. (India)
among others are some of the prominent players at the vanguard of competition in the Global 1,6 Hexanediol Market and are reported in MRFR Analysis.
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