The global hexamethylenediamine market is anticipated to touch USD 5.98 billion at a 5.6% CAGR between 2020-2027
The global hexamethylenediamine market is anticipated to touch USD 5.98 billion at a 5.6% CAGR between 2020-2027, states the new Market Research Future’s hexamethylenediamine market report. Hexamethylenediamine is a low melting, colorless solid with vital industrial use. It has an extensive range of applications, including automotive, defence sector, aerospace, and others.
Numerous factors are adding to the growth of the global hexamethylenediamine market. These factors, according to the latest Market Research Future report, include increasing use to manufacture nylon 6,6, increasing use of hexamethylenediamine that is bio-based, huge investment in research and development projects, increasing investment in the commercial and residential sector, and the booming automotive sector. Additional factors adding to the growth of the hexamethylenediamine market size include rising automotive production as well as sales, rising production of hexamethylenediamine based lubricant, increasing urbanization, and demand from the petrochemical industry.
On the contrary, strict rules on the manufacturing, packing, as well as transport of Hexamethylenediamine as it is a corrosive substance, availability of substitutes, and volatile hexamethylenediamine price are factors that may hinder the global hexamethylenediamine market during the forecast period.
The Market Research Future report provides a complete segmental analysis of the global Hexamethylenediamine market based on end use and application.
By application, the Hexamethylenediamine market is segmented into coating, water treatment chemicals, lubricants, nylon synthesis, and others. Of these, the nylon synthesis segment will have the largest share in the market during the forecast period for the extensive use of nylon 6,6 from different end use industries, especially automotive and textile. Nylon 6,6 is utilized to manufacture automotive parts such as air intake manifolds, radiator end tanks, airbags, oil pans, rocket covers, and others. Besides, burgeoning demand for cars that are fuel-efficient is likely to offer a new momentum for the usage of lubricants.
By end use, the Hexamethylenediamine market is segmented into automotive, paints and coatings, textile, water treatment, petrochemical, and others. Of these, the automotive segment will dominate the market during the forecast period for the rising automotive production as well as sales worldwide. Meanwhile, the water treatment segment will have notable growth during the forecast period for the burgeoning demand for freshwater from process industries and households.
By region, the global Hexamethylenediamine market report covers the latest trends and growth opportunities across North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Of these, the APAC region will dominate the market during the forecast period. Numerous factors are adding to the growth of the Hexamethylenediamine market in the region, such as rapid industrialization, increased use as a precursor to produce nylon 6,6 in textile and automotive, increasing exports of nylon in China, and increasing use in the water treatment industry.
The Hexamethylenediamine market in North America will have a significant share in the market during the forecast period for its growing demand as a raw material in the coating and paints industry, rising constructional activities, rising advancements in the United States, and the emerging multifunctional applications such as in functional coatings and 3D printing.
The Hexamethylenediamine market in Europe will have significant growth in the market during the forecast period for its rising use to produce lubricants and manufacture automotive components. The UK, France, and Germany are the leading contributors in this region for the presence of key players, namely Evonik Industries AG, Merck KGaA, LANXESS, and BASF SE.
The Hexamethylenediamine market in Latin America and the MEA will have healthy growth in the market during the forecast period for the expanding paints and coatings industry and its increasing use in the petrochemical industry.
Notable players profiled in the global Hexamethylenediamine market report include LANXESS (Germany), DuPont (U.S.), Ascend Performance Materials (U.S.), INVISTA (U.S.), Solvay SA (Belgium), Solvay SA (Belgium), Evonik Industries AG (Germany), Merck KGaA (Germany), TORAY INDUSTRIES, INC. (Japan), Asahi Kasei Corporation (Japan), BASF SE (Germany). Key hexamethylenediamine manufacturers are incorporating specific strategies to create a niche in the market, such as partnerships, mergers, collaborations, and others.
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