Pune, India, August 21,2019- [106 Pages Report] The 1,6-hexanediol market size is projected to grow from USD 902 million in 2019 to USD 1,401 million by 2025, at a CAGR of 8% during the forecast period. The growth of the market is driven by the increasing demand for 1,6-hexanediol from the APAC region, especially through captive consumption by manufacturers. 1,6-hexanediol is a multi-characteristic material used in polyurethanes, coatings, acrylates, and polyester resins, among others. 1,6-hexanediol offers high-quality, flexibility, high-temperature resistance, and efficient performance. It is used as an intermediate in varied end-use applications such as coatings, PU, and acrylates. The high performance and low environmental impacts during operational exposure to workers are the key factors contributing to the high consumption of 1,6-hexanediol.
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The polyurethanes segment is the largest application of 1,6-hexanediol market, in terms of value and volume. This dominance is expected to continue till 2025. The market in the polyurethanes application is driven by the consumption in thermoplastic polyurethanes elastomers, coatings, and foams.
Europe is estimated to account for the largest share of the 1,6-hexanediol market during the forecast period. This is attributed to the presence of major market players such as BASF SE (Germany), Perstorp AB (Sweden), and Lanxess Aktiengesellschaft (Germany). The increasing demand for PU, coatings, and adhesives in automobile applications is driving the consumption of 1,6-hexanediol in the region.
The key players of 1,6-hexanediol includes BASF SE (Germany), Fushun Tianfu Chemicals Co., Ltd. (China), Lanxess Aktiengesellschaft (Germany), Linshui Nanming Chemical Co., Ltd. (China), Perstorp AB (Sweden), Ube Industries, Ltd. (Japan), Shandong Yuanli Science and Technology Co., Ltd. (China), Zhengzhou Meiya Chemical Products Co., Ltd. (China), Hefei TNJ Chemical Industry Co., Ltd. (China), and Prasol Chemicals Pvt. Ltd. (India). These companies have a strong global presence. They have a diversified product portfolio to cater to end-use industries according to their requirements. To sustain their dominating position, these companies may enter into new industries and target new markets.
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