The new report by Expert Market Research titled,‘Global 1,6-Hexanediol Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global 1,6-hexanediol market, assessing the market based on its segments like applications and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 906 million
• Forecast CAGR (2021-2026): 7.8%
The 1,6-hexanediol market is being driven by the thriving polyurethanes segment. The rising demand for 1,6 hexanediol can be attributed to the increasing adoption of polyurethanes by the furniture industry to produce flexible foams utilised in furniture applications such as mattress padding, carpets, and seat cushions. Furthermore, the demand for polyurethanes in developing countries like China and India has significantly increased its production propelling the 1,6 hexanediol industry. Meanwhile, the rising application of the product in the infrastructure industry for insulation is likely to provide an impetus to the market.
Industry Definition and Major Segments
1,6-hexanediol is a colourless organic compound that is soluble in water. It is produced by hydrogenation of adipic acid or its esters and is extensively utilised to produce polyurethane and industrial polyester. 1,6-hexanediol enhances the flexibility and hardness of polyester because it has a relatively long hydrocarbon chain and is employed as a chain extender in polyurethane.
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On the basis of application, the market can be categorised into:
• Polyurethanes
• Coatings
• Acrylates
• Adhesives
• Polyester Resin
• Others
The regional markets for 1,6-hexanediol include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Among these, Asia Pacific is projected to represent a significant share in the 1,6-hexanediol market.
Market Trends
The increasing demand for protective coatings will likely aid the market in the forecast period due to 1,6-hexanediol’s higher affinity towards water. This has led to extensive application in acrylics, paints, plasticizers, and glues, which is expected to further enhance product demand. Furthermore, industrial protective coating in cars, machines and other apparatus has increased the demand for 1,6-hexanediol as it significantly improves their utilisation period by defending them against climatic factors and contaminants. The rapid technological advancements and increasing investments by the key players to develop innovative solutions are also anticipated to significantly contribute to the market growth.
Key Market Players
The major players in the market are BASF S.E., Lanxess Aktiengesellschaft, Ube Industries, Ltd., Lishui Nanming Chemical Co., Ltd., Zhengzhou Meiya Chemical Products Co., Ltd., Hefei TNJ Chemical Industry Co., Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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