Global 1, 6 Hexanediol Market – Industry Trends and Forecast to 2030

Global 1, 6 Hexanediol Market, By Type (Purity Grade 99%, Purity Grade 99.7% and Others), Application (Polyurethanes, Coatings, Acrylates, Adhesives, Polyester Resin, Plasticizers and Others), End User Industry (Marine, Automotive and Transportation, Pipe and Tanks, Electrical and Electronics and Wind Energy) – Industry Trends and Forecast to 2030.

1, 6 Hexanediol Market Analysis and Size

Industrial manufacture of polyester and polyurethane frequently uses 1, 6-hexanediol. Since 1, 6-hexanediol has a rather long hydrocarbon chain, it can increase the hardness and flexibility of polyesters. Due to the rising demand for 1, 6-hexanediol in several end-use applications, including polyurethane, coatings, and acrylates, among others, the market is expanding rapidly.

Data Bridge Market Research analyses that the global 1, 6 hexanediol market which was USD 1,134.00 million in 2022, is expected to reach USD 2,081.91 million by 2030, and is expected to undergo a CAGR of 7.89% during the forecast period of 2023 to 2030. “Polyurethanes” dominates the application segment of the global  1, 6 hexanediol market because it is utilized as a chain extender in polyurethanes, and the modified polyurethane that results has a low glass transition temperature but a strong resistance to hydrolysis.

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

1, 6 Hexanediol Market Scope and Segmentation

Market Definition

1, 6 hexanediol has the chemical formula (CH2CH2CH2OH)2. It is a colourless, water-soluble solid. Industrially, it is an organic chemical that is created by the catalytic hydrogenation of adipic acid. At 250 °C, the organic compound boils. Since it is also employed in the manufacture of specialty chemicals, 1, 6 hexanediol is a useful intermediate product for the chemical industry. 1, 6 hexanediol are quite porous by nature and have excellent thermal and physical stability at high pressures.

Global 1, 6 Hexanediol Market Dynamics

Drivers

• Demand from End-Use Sectors including Automotive, Marine, and Wind Energy is Rising

The critical end-use industries of automotive, marine, and wind energy are driving up global demand for the chemical. About a portion of the market's overall demand for polyurethane is driven by these applications. Only in infrastructure are rigid foams made from polyurethane used as sealants, floors, and insulators. Flexible foams made of polyurethane are mostly utilized in furniture applications such as rugs and chairs, cushions, and mattress padding.

• Increasing need for Safeguards, Industrial Coatings, and Protectives 

Surface hardness and flexibility are provided by 1, 6, and hexanediol based coatings in addition to adherence to a variety of substrates. Industrial coatings are solely utilized for protection and aesthetic appeal. It is utilized in commercial sectors like steel, infrastructure, and the automobile industry. The use of 1, 6 hexanediol in industrial coatings is increasing as knowledge of its use grows. The market is primarily driven by the need for 1, 6-hexanediol used in the manufacturing of polyurethane, which offers great hydrolysis resistance, improved mechanical strength, and a lower glass transition temperature.

Opportunity

• Technological Development and the Creation of Bio-based Raw Materials

Furthermore, the development of technology and the rise in the demand for 1, 6 hexanediol to meet growing market demand, an increase in market research and development efforts and extend profitable opportunities to the market players in 2023 to 2030.  In addition research expenditures for the creation of specialized products and applications for 1, 6 hexanediol, including prospective uses in ultraviolet (UV) curable resins, alkyd resins, and epoxy resins will further expand the future growth of the global 1, 6 hexanediol market. 

Restraint/Challenge

• Storage and Transportation might be a Problem for the Sector

Due to its high hygroscopicity, 1, 6 hexanediol poses a significant problem for storage and transportation. As a result, precautions must be made to limit its contact with air or moisture. To maximize usefulness, the product's temperature should be kept between 55°C and 70°C at all times.  Although 1, 6 hexanediol has been proven to have minimal toxicity, handling the substance still requires taking the appropriate safety measures. When it comes into contact with the eyes, it irritates the eyes and diffusely opaques the cornea. 1, 6-Hexanediol dust or vapours can potentially irritate the respiratory tract. People handling the material must also wear the appropriate protective clothing to reduce skin contact.

This global 1, 6 hexanediol market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global 1, 6 hexanediol market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In May 2023, According to a statement from BASF SE, the joint venture between Linde and Heidelberg Materials called Capture-to-Utilise (CAP2U) will use BASF's CO2 capture technology. This technology was created in conjunction with Linde, Heidelberg Materials, and BASF
• In August 2022, Prasol Chemicals Pvt Ltd received SEBI's clearance for its IPO, which was intended to raise money for the company's international development

Global 1, 6 Hexanediol Market Scope

The global 1, 6 hexanediol market is segmented on the basis of type, application, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Purity Grade 99%
• Purity Grade 99.7%
• Others

Application

• Polyurethanes
• Coatings
• Acrylates
• Adhesives
• Polyester Resin
• Plasticizers
• Others

End User Industry

• Marine
• Automotive and Transportation
• Pipe and Tanks
• Electrical and Electronics
• Wind Energy

Global 1, 6 Hexanediol Market Regional Analysis/Insights

The global 1, 6 hexanediol market is analysed and market size insights and trends are provided by country, type, application, and end user industry as referenced above.

The countries covered in the global 1, 6 hexanediol market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Asia-Pacific dominates the global market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2023-2030. This is owing the rising demand for 1, 6 hexanediol from developing regions such as India, China, Japan, and South Korea. Growth and expansion of automobile sector in this region has directly influenced the growth of global 1, 6 hexanediol market. Urbanization, infrastructural development and rising construction activities have further propelled growth in the demand for 1, 6 hexanediol. Rising demand for polyurethane and rising research and development activities in the coatings have also acted as important factors determining the global  1, 6 hexanediol market growth.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.    

Competitive Landscape and Global 1, 6 Hexanediol Market Share Analysis

The global 1, 6 hexanediol market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global 1, 6 hexanediol market.

Some of the major players operating in the global  1, 6 hexanediol market are:

• BASF SE (Germany)
• LANXESS (Germany)
• UBE Corporation (Japan)
• Zhejiang Lishui Nanming Chemical Co.,Ltd. (China)
• Hefei TNJ Chemical Industry Co.,Ltd. (China)
• Perstorp (Sweden)
• Technolog Ltd (U.K.)
• Zhengzhou Meiya Chemical Products Co.,Ltd (China)
• Prasol Chemicals Limited. (India)
• Henan Tianfu Chemical Co., Ltd (China)
• YUANLI SCIENCE AND TECHNOLOGY (China)