Hexamethylenediamine Market is projected to be worth USD 9.85 Billion by 2027, registering a CAGR of 8.5% during the forecast period (2022 - 2027).
Hexamethylenediamine Market Overview
The Hexamethylenediamine Market Size was valued at USD 5.98 Billion during the historic forecast period and is expected to grow at a 5.30% CAGR during the forecast period. Hexamethylenediamine, or HMDA, is a white crystalline solid with a distinctive amine odor. HMDA is made up of a hexamethylene hydrocarbon chain with an amine functional group at the end. It can be utilized as a curing agent, corrosion inhibitor, and chemical intermediate. As a result, it has a wide range of uses in a variety of end-use sectors, including water treatment, textiles, and automobiles.
It is also employed in the production of resins that can be used in adhesives and paints. It is a white substance that smells like piperidine and has a strong amine odor. It is made from adiponitrile and has a variety of uses in the chemical industry. Almost all of the hexamethylenediamine produced goes into the production of nylon 66. Non-nylon applications for hexamethylenediamine include high-performance polyurethane paints, petrochemical additives, coatings, and epoxy curing agents. It's also utilized in water treatment plants as a corrosion and scale inhibitor. Hexamethylenediamine is utilized in the manufacturing of nylon 66, as well as nylon 612, nylon 69, and nylon 610. Soon the market will see huge rise in profits.
Global Hexamethylenediamine Market Share, by Region 2018 (%)
Source: MRFR Analysis
The Global Hexamethylenediamine Market has been analyzed for five major regions, namely, North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa.
The market in Asia-Pacific dominates the global hexamethylenediamine market and is projected to register the highest CAGR during the forecast period owing to the rapid industrialization in the region. The increased use of hexamethylenediamine as a precursor to producing nylon 6, 6 in end-use industries, such as automotive and textile, is expected to drive the regional market demand. China is the largest consumer in the region on account of rising exports of nylon from the country. For instance, in 2018, the total nylon exports from China were valued at ~USD 137.70 million. Thus, making it among the top three global nylon exporters. Furthermore, India and other South-East Asian countries are propelling the regional market growth on account of the increasing use of the product in the water treatment industry. These factors create numerous opportunities for the players operating in the hexamethylenediamine market in the region.
The market in North America accounted for a substantial market share in 2018. The growing demand for hexamethylenediamine as a raw material in the paints and coating industry and the increasing constructional activities in the region are driving the growth of the regional market. In addition, the rising advancements in the US, coupled with emerging multifunctional applications such as in 3D printing and functional coatings, are further driving the regional market growth.
The market in Europe is expected to showcase significant growth during the forecast period. This can be attributed to the increasing use of hexamethylenediamine to manufacture automotive components and produce lubricants. Germany is the leading country in the region, followed by France and the UK, owing to the presence of major key players such as BASF SE, LANXESS, Merck KGaA, and Evonik Industries AG.
The markets in Latin America and the Middle East & Africa are expected to show healthy growth during the forecast period owing to the growing paints and coatings industry. The increasing use of HMDA in the petrochemical industry is further fueling regional market growth.
Hexamethylenediamine Market Segmentation
Market Research Future segments the global hexamethylenediamine market into application, end-use industry, and region.
Based on application, the global market is classified into nylon synthesis, lubricants, coating, adhesives, and others
Based on end-use industry, the market has been segmented into textile, paints & coatings, automotive, water treatment, petrochemical, and others
By region, the market has been categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
INVISTA (US), BASF SE (Germany), Asahi Kasei Corporation (Japan), TORAY INDUSTRIES, INC. (Japan), Merck KGaA (Germany), Evonik Industries AG (Germany), Solvay (Belgium), Ascend Performance Materials (US), DuPont (US), and LANXESS (Germany).Recent Development
|Market Size||2030: 5.98 Billion USD|
|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||Application and End-Use Industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||INVISTA (US), BASF SE (Germany), Asahi Kasei Corporation (Japan), TORAY INDUSTRIES, INC. (Japan), Merck KGaA (Germany), Evonik Industries AG (Germany), Solvay (Belgium), Ascend Performance Materials (US), DuPont (US), and LANXESS (Germany)|
|Key Market Opportunities||India and other South-East Asian countries are propelling the regional market growth on account of the increasing use of the product in the water treatment industry.|
|Key Market Drivers||
Hexamethylenediamine Market is predicted to grow at 5.30 % through forecast period of 2020-2030.
The forecast period for Hexamethylenediamine Market research report is 2020-2030.
Hexamethylenediamine Market is dominated by APAC region.
The major players operating in the INVISTA (US), BASF SE (Germany), Asahi Kasei Corporation (Japan), TORAY INDUSTRIES, INC. (Japan), Merck KGaA (Germany), Evonik Industries AG (Germany), Solvay (Belgium), Ascend Performance Materials (US), DuPont (US), and LANXESS (Germany)