Market Analysis
The global 1-6 hexanediol market is predicted to grow at an 8.22% CAGR between 2020- 2027 revealing the new Market Research Future (MRFR) report. 1.6 hexanediol is an organic compound with the molecular formula HOCH2 (CH2)4CH2OH. Its properties include good physical stability at high pressure, good thermal stability, and high porosity. Owing to such properties, this organic compound has diverse applications such as plasticizers, polyester resins, adhesives, acrylics, paints and coatings, and polyurethane.
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Various factors are adding to the global 1-6 hexanediol market share. These factors, as per the new MRFR report, include burgeoning demand from the wind energy sector, the base for manufacturing of adhesives, acrylates, coatings, and polyurethanes, growing demand for industrial and protective coatings, growing demand from the transportation and building & construction industry, and growing demand for rigid foam in the construction industry namely sealants, flooring, and insulators. Additional factors adding market growth include demand for the flexible foam to manufacture mattresses, seat cushions, and carpet in the furniture industry, increasing use in paints & coatings, demand for industrial coatings, and robust industry growth.
On the contrary, issues related to storage & transportation, availability of substitutes like pentanediol and butendiol, volatility in the cost of raw materials, precautions towards health safety, and hydroscopic nature of 1-6 hexanediol, and precaution towards health safety are factors that may limit the 1-6 hexanediol market growth over the forecast period.
Regional Analysis
Based on the region, the global 1-6 hexanediol market report covers the recent trends and growth opportunities across Europe, the Americas, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, Europe will spearhead the market over the forecast period for the presence of key market players, and growing automotive industry that is boosting the demand of polyurethane (PU) applications, adhesives & coatings. Italy and Germany are the leading importers in this region for the burgeoning demand for PU, especially in automobile applications.
The global 1-6 hexanediol market in the APAC region is predicted to grow at the highest CAGR over the forecast period for its growing demand from South Korea, China, India, and Japan. China is a major contributor in the region for the increasing production of coatings and polyurethane owing to the rising number of construction activities. Besides, the construction industry is likely to have a remarkable growth over the forecast period for the repaint/renovation of commercial and residential buildings in Brazil, India, China, and the US, new housing projects, and increasing investments in new infrastructure developments.
The global 1-6 hexanediol market in North America is predicted to have notable growth over the forecast period while that in the RoW is predicted to have sound growth.
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Market Segmentation
The Market Research Future Report provides an inclusive segmental analysis of the global 1-6 hexanediol market based on application.
By application, the 1-6 hexanediol market is segmented into unsaturated plasticizers, unsaturated, polyester resins, adhesive, acrylics, paints and coatings, and polyurethane. Of these, the polyurethane segment will have a major share in the market over the forecast period for the shift in preference towards low GHG and high-efficiency material, and the increasing importance of energy conversation for rising cost. This will be followed by the paints & coatings segment.
Key Players
Leading players profiled in the 1-6 hexanediol market report include Shandong Yuanli Science and Technology Co., Ltd. (China), TCI Chemicals (India) Pvt. Ltd. (India), Prasol Chemicals Pvt. Ltd. (India), Lishui Nanming (China), Lanxess (Germany), Fushun Tianfu Chemicals Co., Ltd. (China), Perstop AB (Sweden), Ube Industries (Japan), and BASF SE (Germany). Industry players have incorporated different strategies to strengthen their position in the market, such as contracts, strategic alliances, geographic expansions, joint ventures, collaborations, new product launch, and others.
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Intended Audience
- Manufacturers and distributors of 1,6 Hexanediol.
- Suppliers and traders of 1,6 Hexanediol.
- Government, associations and industrial bodies.
- Investors and Trade experts.
- Consulting in chemical experts.
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