1,6-Hexanediol Market Overview
1, 6 Hexanediol Market is growing USD 1,204.8 billion at a CAGR of 9.50% during forecasted period. The international 1,6 hexanediol market is anticipated to show considerable growth beyond the next six years, on the other hand of rising international demand for the chemical polyurethanes from the vital end-use sectors such as furniture and infrastructure. These applications are responsible for approximately part of the total Polyurethane demand in the market. Rigid foams produced from Polyurethane are exclusively utilized in infrastructure as insulators, flooring materials, and sealants. Polyurethane-produced flexible foams are substantially used in furniture applications like carpet and seats, cushions & mattress padding.
These major key factors drive the market and are anticipated to raise 1, 6 Hexanediol demand for the production of Polyurethane. 1, 6 Hexanediol-based Polyurethane provides high hydrolysis resistance, enhanced mechanical strength, and less glass transition temperature.
Growing demand for protectives and safeguards, industrial coatings are forecasted to drive the market of 1,6 hexanediol during the forecast period. 1, 6 hexanediol-based coatings expose surface hardness and flexibility on the surface and also provide adhesion to several substrates. Industrial coatings are completely used for aesthetic quality and protection, it is used in industrial applications like automotive, steel, and infrastructure. Capital cost is spent on research and development for the product growth in recess applications are anticipated to offer new opportunities for the participants of market 1,6 hexanediol.
Study Objectives of 1,6 Hexanediol Market
Segment Analysis:
1, 6 Hexanediol market is segmented into by application: polyurethane, paints & coatings, acrylics, adhesive, polyester resins, and unsaturated, plasticizers. 1, 6 Hexanediol is used in polyurethane, polyurethane had the largest market share in 2016 owing to rising energy conversation importance due to increasing cost along with shift in preference towards high efficiency and low GHG material. Paints & Coatings are the second largest segment in 2016, the market is anticipated to touch down in millions by 2022.
The construction industry is anticipated to witness significant for the forecasted period , owing to huge investments in new infrastructure developments, new housing projects, and renovation/repaint of residential and commercial buildings in the U.S., China, India, Indonesia and Brazil. The demand for coatings in the Asia-Pacific region has increased significantly, and this trend is expected to continue in the near future. The coatings industry is moving towards consolidation as top coating players are acquiring other local and foreign players. Carlyle Group acquired DuPont to form Axalta, the decorative coatings business of Sherwin Williams being acquired by Berger Paints (India), and PPG's acquisition of AkzoNobel are examples of significant acquisitions that took place in the global 1,6-Hexanediol market.
Intended Audience
Regional Analysis
The largest consumer of 1,6 hexanediol is Europe by volume as well as revenue generation. Demand from Europe is followed by Asia Pacific and North America. Asia Pacific market is expected to exhibit the swiftest growth rate owing to the increased applicability and demand from end use industries. The fact that the manufacturing hub of the world is located in this region also drives the growth in Asia Pacific. India, China, Russia, and Brazil are expected to show persistent demand in the foreseeable future.
Key Players
The key players in market includes BASF SE, Ube Industries, Perstop AB, Lishui Nanming, Shandong Yuanli Science and Technology Co., Fushun Tianfu Chemicals Co., Ltd., Lanxess, Ltd. and others.
Recent Development
In the year 2018, BASF SE declared to increase the productivity and capacity of 1,6-Hexanediol in the place of the Ludwigshafen Verbund site and more than 60% after the establishment of the firm in 2021. After this extension, the capacity of the production was increased. 1,6-Hexanediol will be produced in more than 80,000 metric tons/year. 1,6-Hexanediol manufactured from the firm will be utilized in high-growth fields such as furniture, automotive, and packaging.
In the year 2017, Lanxess spend $ 111.96 million on the enlargement of intermediates and their production. Advanced industrial and business Intermediates, the business division of Lanxess is extending its production facility and is anticipated to be complete by the year 2020. Around $ 44.78 million is believed to be invested in the sites of Krefeld-Uerdingen and Leverkusen. At the site of Krefeld-Uerdingen, the firm plans to extend the production facility and quality of trimethylolpropane, benzyl alcohol, hexanediol, and menthols to fulfill the demand of the 1, 6-Hexanediol international market.
Geographic Analysis
The report covers brief analysis of geographical region includes
North America
Europe
APAC
RoW
| Report Attribute/Metric | Details |
|---|---|
| Market Size | USD 1,204.8 billion |
| CAGR | 9.50% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Application and By Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | BASF SE, Ube Industries, Perstop AB, Lishui Nanming, Shandong Yuanli Science and Technology Co., Fushun Tianfu Chemicals Co., Ltd., Lanxess, Ltd. and others. |
| Key Market Opportunities |
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| Key Market Drivers |
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1 6 Hexanediol Market Highlights:
Frequently Asked Questions (FAQ) :
1,6 Hexanediol is an organic carbon compound with the chemical formula HOCH2(CH2)4CH2OH. It is used in the production of polyurethane, paints and coatings, acrylics, adhesives, and plasticizers, among others.
The 1,6 Hexanediol Market is expected to exhibit a strong 9.50% CAGR over the forecast period from 2022-2030.
The growing demand for polyurethane is the major driver for the 1,6 Hexanediol Market.
Europe is the largest consumer of 1,6 Hexanediol.
Leading players in the 1,6 1,6 Hexanediol Market include Perstop AB, BASF, and Lanxess, among others.
1,6 Hexanediol Market is projected to be worth USD 1204.8 Billion by 2030, registering a CAGR of 9.50% during the forecast period (2021 - 2030)
$1204.8 Billion
9.50%
Europe
2021 - 2030
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Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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