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1,6-Hexanediol Market

Published Date : Jun 2024 | Forecast Year : 2019

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1,6-Hexanediol Market Size, Share, Industry Trends Segmentation Analysis By Type (Industrial Grade, Pharmaceutical Grade) By Application (Polyurethanes, Coatings, Adhesives, Unsaturated Polyester Resins, Plasticizers, Other Applications) Growth, Demand, Regional Outlook, and Forecast 2023-2032

Report ID: AG885

Published : Jun 2024

Pages : 159

Category : Chemical & Material

Format : 1,6-Hexanediol Market

REPORT ATTRIBUTEDETAILS
MARKET SIZE (2032)USD 1.53 Billion
MARKET SIZE (2023)USD 1.01 Billion
CAGR (2023-2029)5.9%
HISTORIC YEAR2019
BASE YEAR2023
FORECAST YEAR2032
BY TYPEIndustrial Grade
Pharmaceutical Grade
BY APPLICATIONPolyurethanes
Coatings
Adhesives
Unsaturated Polyester Resins
Plasticizers
Other Applications
GEOGRAPHIC ANALYSISNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa
KEY PLAYERSBASF SE, Ube Industries, Ltd., Lanxess AG, Perstorp AB, Lishui Nanming, Fushun Tianfu Chemicals Co., Ltd., Shandong Yuanli Science and Technology Co., Ltd., Prasol Chemicals Pvt. Ltd., Hefei TNJ Chemical Industry Co., Ltd., Pure Chem Pvt. Ltd., Evonik Industries AG, Solvay S.A., Mitsubishi Chemical Corporation, Huntsman Corporation, Eastman Chemical Company, Wuxi Baichuan Chemical Industrial Co., Ltd., Jiangsu Bohan Industry Trade Co., Ltd., OXEA GmbH, Hefei TNJ Chemical Industry Co., Ltd., Yancheng Hongtai Bioengineering Co., Ltd..

The 1,6-Hexanediol Market is growing significantly due to its versatile applications in various industries. As an important intermediate in the production of polyurethanes, coatings, adhesives and unsaturated polyester resins, demand for 1,6-hexanediol is driven by the growing construction, automotive and electronics sectors. Its unique properties, such as increased flexibility, durability and hydrophobicity, make it indispensable in high-performance products. In addition, the shift to sustainable and bio-based chemicals is fueling market expansion and advances in manufacturing technologies are fueling growth. This in-depth analysis examines the current trends, key drivers, and future prospects of the 1,6-Hexanediol market, providing valuable information to stakeholders and industry participants.

1,6-Hexanediol Market valued at $1.01 Billion in 2023 and projected to reach $1.53 Billion by 2032, growing at an 5.9 % CAGR

1,6-Hexanediol Market

Size, by Product, - (USD Billion)

Industrial Grade

Pharmaceutical Grade

Other Products

18 16 14 12 10 8 6 4 2 0

The Market will Grow

At the CAGR of:

5.9%

The Forecast Market

Size for in USD:

$1.53 BillionB

b0d51e3055fd6f23ff6a384a6e091406.svg

Market Overview:

The Global 1,6-Hexanediol Market is growing rapidly due to its widespread use in various industrial applications. With a significant compound annual growth rate (CAGR) in the coming years, the market is fueled by growing demand from the construction, automotive and electronics industries. The material's role as a critical intermediate in the production of high-performance products such as polyurethanes, coatings, adhesives and unsaturated polyester resins underlines its importance.

Asia Pacific leads the market with China and India making major contributions by expanding their industrial base and investing in infrastructure projects. Europe and North America also have a significant market share, boosted by technological advances and a strong emphasis on sustainable and bio-based chemicals. Major players in the market are focusing on research and development to innovate and improve production processes and ensure continuous supply to meet growing global demand.

Key players:

BASF SE

Ube Industries, Ltd.

Lanxess AG

Perstorp AB

Lishui Nanming

Fushun Tianfu Chemicals Co., Ltd.

Shandong Yuanli Science and Technology Co., Ltd.

Prasol Chemicals Pvt. Ltd.

Hefei TNJ Chemical Industry Co., Ltd.

Pure Chem Pvt. Ltd.

Evonik Industries AG

Solvay S.A.

Mitsubishi Chemical Corporation

Huntsman Corporation

Eastman Chemical Company

Wuxi Baichuan Chemical Industrial Co., Ltd.

Jiangsu Bohan Industry Trade Co., Ltd.

OXEA GmbH

Hefei TNJ Chemical Industry Co., Ltd.

Yancheng Hongtai Bioengineering Co., Ltd.

Market Segmentation of 1,6-Hexanediol:

By Type:

Industrial Grade

Pharmaceutical Grade

By Application:

Polyurethanes

Coatings

Adhesives

Unsaturated Polyester Resins

Plasticizers

Other Applications

By End-User Industry:

Construction

Automotive

Electronics

Furniture and Bedding

Packaging

Medical and Healthcare

Others (Textiles, Agriculture, etc.)

By Geography:

North America

Europe

Asia-Pacific

Latin America

Middle East & Africa

Market Dynamics:

Trends:

Increasing demand for high quality polyurethanes.

Increase the use of sustainable and bio-based chemicals. 

Development of production techniques.

Limitations:

Fluctuating prices of raw materials.

Environmental and Regulatory Affairs.

High production costs.

Opportunities:

Emerging applications in emerging industries such as 3D printing.

Expansion of markets in developing regions.

Innovation in ecological and renewable production processes of 1,6-hexanediol.

Challenges:

Competition with alternative chemicals and materials.

Technical problems in mass production.

To maintain the quality and consistency of final products.

Understanding these dynamics will help stakeholders navigate the market effectively, exploit potential risks and take advantage of growth opportunities.

Value Chain Analysis:

Raw Material Supplies:

Supply of key raw materials such as adipic acid and hexanol.

The most important suppliers are companies in the chemical industry.

Production:

Conversion of raw materials to 1,6-hexanediol by processes such as hydrogenation.

Includes quality control and compliance with environmental regulations.

Distribution:

Transportation and logistics for the delivery of products to various industries.

Includes inventory and inventory management.

End-use industry:

Use in industries such as construction, automotive, electronics, and others.

Integration with products such as polyurethanes, coatings and adhesives.

1,6-Hexanediol Market

Size, by Product, - (USD Billion)

APAC $ 24

The Market will Grow

At the CAGR of:

5.9%

The Forecast Market

Size for in USD:

$1.53 BillionB

b0d51e3055fd6f23ff6a384a6e091406.svg

Supply Chain Analysis:

Suppliers: Suppliers of raw materials that provide the required chemicals.

Manufacturers: Companies process raw materials into 1,6-hexanediol.

Distributors: Entities responsible for the logistics and transport of the final product.

End users: industries that contain 1,6-hexanediol in their products.

Porter's Five Forces Analysis:

Threat of New Entrants: Moderate due to high initial capital investment and technical expertise required.

Bargaining power of suppliers: High because few suppliers provide essential raw materials.

Bargaining power of buyers: Moderate to high because large industries can negotiate better terms.

Danger of Substitutes: Moderate alternative chemicals are available, but they are less effective.

Industry Competition: High due to many established players and competitive pricing.

Impact of Regulatory Policies on 1,6-Hexanediol Market

Regulatory policies have a major impact on the 1,6-Hexanediol market and affect both manufacturing practices and market dynamics. Governments around the world are increasingly enforcing strict environmental regulations to limit emissions and promote sustainable industrial practices. In this regard, the production of 1,6-hexanediol is closely controlled in terms of waste management, emissions and energy use. Compliance with regulations such as REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) in Europe and TSCA (Toxic Substances Control Act) in the United States is mandatory for manufacturers.

These regulations direct industry to use cleaner and more efficient technologies. Companies invest in research and development to develop ecological production methods and biodegradable products. In addition, regulatory frameworks encourage the use of renewable resources, which encourages the transition to bio-based 1,6-hexanediol. Understanding the regulatory environment is essential for market participants to overcome compliance challenges and take advantage of the opportunities arising from the global drive towards sustainability.

Emerging Markets and Regional Growth Prospects:

Emerging markets, particularly in Asia Pacific and Latin America, offer lucrative growth opportunities for the 1,6-hexanediol market. Rapid industrialization, urbanization, and infrastructure development in countries such as China, India, and Brazil are driving the demand for 1,6-hexanediol-based products. The construction and automotive industries in these regions are expanding at an unprecedented rate, increasing the consumption of polyurethanes, coatings and adhesives, all of which use 1,6-hexanediol.

In addition, favorable economic policies and government initiatives to increase production capacity in these regions are attracting investment from major market players. For example, China's "Made in China 2025" initiative and India's "Make in India" campaign promote an enabling environment for industrial growth. Companies are also setting up production facilities in these areas to take advantage of lower production costs and proximity to raw material suppliers. This regional expansion not only improves the global supply chain, but also reduces the risks associated with market fluctuations elsewhere in the world.

Sustainable Development Trends and Green Initiatives:

Sustainable development trends are increasingly influencing the 1,6-hexanediol market as both industry and consumers prioritize environmentally friendly and sustainable products. The shift to green chemistry is increasing the demand for bio-based and renewable 1,6-hexanediol. Companies are exploring alternative raw materials such as vegetable oils and agricultural waste to produce 1,6-hexanediol, reducing dependence on fossil fuels and reducing greenhouse gas emissions.

Ecological initiatives also extend to the development of biodegradable polyurethanes and coatings derived from 1,6-hexanediol. These products improve performance and reduce environmental impact. In addition, the sustainable development certificate and the environmental label become crucial from the point of view of market competitiveness. Companies that follow sustainable practices and achieve certifications gain a significant advantage in marketing their products to environmentally conscious consumers and industry.

Competitive Landscape and Strategic Alliances:

The competitive landscape of the 1,6-Hexanediol market is characterized by strategic alliances, mergers and acquisitions. Key players are constantly trying to strengthen their market positions and expand their product range through cooperation and partnership relationships. For example, joint ventures between chemical producers and technology suppliers facilitate the sharing of knowledge and resources, resulting in the development of improved production technologies and innovative products.

Mergers and acquisitions are also important strategies to consolidate markets and increase global reach. Companies acquire smaller companies or form strategic partnerships to enter new markets, diversify their product offerings and gain competitive advantages. These alliances also allow companies to combine their research and development activities, which accelerates innovation and shortens the time to market for new products. Understanding the competitive dynamics and strategic moves of key players is essential for stakeholders to make informed decisions and identify potential growth opportunities in the 1,6-Hexanediol market.

1,6-Hexanediol Market TO (USD BN)

1,6-Hexanediol Market

CAGR OF

5.9%

1,6-Hexanediol Market

b0d51e3055fd6f23ff6a384a6e091406.svg
Analytica Global 1.53 Billion%

Recent Developments:

Ludwigshafen, Germany – September 4, 2018 – BASF intends to increase the production capacity of 1,6-Hexanediol (HDO) at its Ludwigshafen Verbund site by more than 50 percent. After the start-up in 2021, BASF’s global annual nameplate capacity of HDO will be more than 70,000 metric tons per year at its production facilities in Ludwigshafen, Germany and Freeport, Texas, United States.

TOKYO, March 16, 2010 _ Ube Industries, Ltd. today announced it will implement a price increase for 1,6-hexanediol in Japan and other parts of Asia. The price increase is necessitated by sustained pressured on supply and demand of 1,6-hexanediol, combined with rising raw material and fuel prices. Ube Industries will initiate negotiations with its customers regarding the price increase.

Frequently Asked Questions:

How big is the 1,6-Hexanediol Market?

Ans: 1,6-Hexanediol Market valued at $1.01 Billion in 2023 and projected to reach $1.53 Billion by 2032, growing at an 5.9 % CAGR

Who are the key players in 1,6-Hexanediol Market?

Ans: BASF SE, LANXESS, Prasol Chemicals Limited, UBE Corporation and Perstorp (PETRONAS Chemicals Group Berhad) are the major companies operating in the 1,6-Hexanediol Market.

Which is the fastest growing region in 1,6-Hexanediol Market?

Ans: Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2032).

1,6-Hexanediol Market - Global Outlook & Forecast 2024-2029

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