1,6 Hexanediol Market Accruals to Quadruple By 2021 - 2030

Pune, India, December, 2017/MRFR Press Release/- Market Research Future Published a Half-Cooked Research “Global 1,6 Hexanediol Market Research Report - Forecast to 2021” - Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2030.    

1,6 Hexanediol Market – Market Overview

1, 6 Hexanediol Market is growing USD 1,204.8 billion at a CAGR of 9.50% during forecasted period 2021 - 2030

Strong demand growth of polyurethane across end use industries such as transportation, building & construction is expected to drive the global 1,6 hexanediol market over the years. Polyurethane being versatile polymer has gain significant progress as 1,6 hexanediol can be customized to suit the standards and safety of manufacturing the end use products. Increasing demand of rigid foam in applications such as insulators, sealants and flooring in construction industry is further anticipated to propel the 1,6 hexanediol demand for manufacturing polyurethane.

The properties of 1,6 Hexanediol are high porosity, good thermal stability, and good physical stability at high pressure, and polymer monoliths. Owing to aforementioned properties, 1,6 hexanediol is used in production of polyurethane, acrylates, paints & coatings, adhesives, polyester resins and unsaturated plasticizer among others. The polyurethane is the largest application segment in the global 1,6 hexanediol market. Some of protuberant factors driving polyurethane application segment are growing demand of flexible foam in furniture industry for manufacturing of carpet, seat cushions and mattress along with rise in consumer spending on modern interiors are expected to augment the growth of 1,6 hexanediol market. Polyurethane manufactured from 1,6 hexanediol offers high resistance of hydrolysis, high mechanical strength and low glass transition temperature. Thus, holds prominent share in global 1,6 hexanediol market.

High affinity towards water and colourless crystalline solid makes 1,6 hexanediol extensively used in paints & coating and acrylics, adhesives and plasticizers among others. 1,6 hexanediol based coatings possess high flexibility and surface hardness coupled with strong adhesion to substrates which also anticipated the product demand over the coming years. Moreover, increasing demand of industrial coatings owing to robust end use industry growth is expected to drive the market growth. Protective coatings are used on large scale in applications such as automotive, infrastructure and machinery & equipment’s in order to improve quality and aesthetic properties of the product. Hence, robust industry growth is further anticipated to augment the market growth.   

However, product development in niche application such as alkyd resins and UV curable resins coupled with technology development for production of bio based raw material is expected to provide lucrative opportunity for industry market players. Nevertheless, there are some of the restraints in the 1,6 hexanediol market growth. 1,6 hexanediol is chemically active substance and hydroscopic in nature which needs to be taken care while transporting and loading the product. Moreover, precautions towards heath safety is major challenge for product manufacturers. This can hinder the market growth in future.   

Asia Pacific is dominating region followed by North America and Europe. Growing consumption of polyurethane in automotive and construction industry is likely to propel the 1,6 Hexanediol market growth in this region. The key producers in this region are producing in house value added product of 1, 6 hexanediol to lower the overall cost of the end use products. For instance, companies such as Ube Industries and BASF are producing 1,6 hexanediol for manufacturing of polymer resins and polyol products. China is largest consuming country due to increased demand from end use industries and favourable government regulations. Europe region is expected to grow significantly owing to growing automotive industry which in turn drive the demand of polyurethane application. Countries such as Mexico and Brazil are anticipated to witnessed positive growth owing to increase in infrastructural development projects and rise in income level of middle class population.

Key Players:

BASF SE (Germany), Ube Industries (Japan), Perstop AB (Sweden), Fushun Tianfu Chemicals Co., Ltd. (China), Lanxess (Germany), Lishui Nanming (China), Prasol Chemicals Pvt. Ltd. (India), TCI Chemicals (India) Pvt. Ltd. (India), Shandong Yuanli Science and Technology Co., Ltd. (China) among others are some of the prominent players at the forefront of competition in the Global 1,6 Hexanediol Market and are profiled in MRFR Analysis.

1,6 Hexanediol Market – Competitive Analysis

1,6 Hexanediol market is fragmented market with presence of tier 1 as well as small regional players. The major players are investing heavily in R&D to develop bio based products in order to meet environmental legislation and minimize impact on environment. The key players in the market are adopting strategies such as partnership or agreement with small regional players and distributors to meet global demand of 1,6 Hexanediol. Other strategies adopted by market participants are merger & acquisition with downstream industries. Moreover, manufactures are focusing on advanced technologies and innovation products to establish new footprints in developing markets. The leading manufacturers such as Perstorp AB, BASF and Lanxess are expanding in production capacity to cater to overall demand of 1,6 hexanediol in global end use market. For instance, in 2013, BASF increased production capacity of 1,6 hexanediol by 20% to total of 50 kilo tons per annum. Several companies are focusing on product development through technology advancement and enhancing their product penetration in emerging markets.

Industry/ Innovation/ Related News:

June 2017 – BASF has increased prices of polyalcohol’s including 1,6-Hexanediol (HDO), Neopentylglycol (NPG) and Trimethylolpropane (TMP) owing to rise in demand across end use industries. The anti-dumping measures taken by developed countries has put pressure on small regional players from Chinese market to maintain prices equality.  

April 2017 –Lanxess invest EUR 100 million in its intermediates production expansion. Advanced Industrial Intermediates, the business segment of Lanxess is expanding production facility and is expected to complete by 2020. Around EUR 40 million is expected to be invested in Leverkusen and Krefeld-Uerdingen sites. At the Krefeld-Uerdingen site, company plans to expand production facility of trimethylolpropane, hexanediol, benzylalcohol and menthols to meet demand of the global market.

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