Market Synopsis of 1, 6 Hexanediol Market:
1, 6 Hexanediol Market is growing at a CAGR of 8.22% during forecasted period (2016-2022). 1,6 Hexanediol with a molecular formula HOCH2 (CH2)4CH2OH. The properties of 1,6 Hexanediol are high porosity, good thermal stability, and good physical stability at high pressure, and polymer monoliths owing to these properties the application is diverse namely, polyurethane, paints & coatings, acrylics, adhesive, polyester resins, and unsaturated, plasticizers.
The market is anticipated to grow at faster pace due to polyurethane, 1,6 hexanediol is widely used in the manufacture of polyurethane, the application of polyurethane is vast namely in construction, electronics, automotive, furniture and many other industries. On the other hand, Asia-pacific are the major drivers of the market as the demand for 1,6 hexanediol is highest compared to other regions.
Study Objectives of 1,6 Hexanediol Market
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.
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.
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.
November 2021- BASF, a global leader in specialty polymer production, with speedy effect or as existing contracts permit, has announced the rise in the prices of the 1,6-Hexanediol (HDO) and polyalcohols Neopentyl Glycol (NPG) in the European region:
Neopentyl Glycol (NPG) - €400/mt
1,6-Hexanediol (HDO) - €1,000/mt
Neopentyl Glycol (NPG) is a basically a high-quality intermediate used for several applications such as manufacturing of polyester resins for coatings, unsaturated polyester resins, plasticizers, and lubricants. 1, 6-Hexanediol (HDO) is primarily used in the production of industrial coatings, including cosmetics, lower volatile organic compound formulations, adhesives, and polyurethanes. It plays a role of a reactive thinner in making of epoxy systems. For example, it effectively produces rotor blades for modern wind turbines and construction components for lightweight automotive applications.
The report covers brief analysis of geographical region includes
|Market Size||2030 : Significant value|
|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||
|Key Market Drivers||
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 8.22% CAGR over the forecast period from 2020 to 2027.
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.