The 1,6-Hexanediol market on a global scale is poised for expansion in the coming years, primarily driven by the rising demand for 1,6-Hexanediol in the manufacturing of plastics and polymers across diverse sectors, including construction, automotive, and electronics. Moreover, the growth of the worldwide 1,6-Hexanediol market is intricately linked to various factors such as environmental regulations, the availability of raw materials, and ongoing technological advancements. Notably, the 1,6-Hexanediol market exhibited robust growth during the historical period spanning from 2016 to 2020, primarily due to its increased utilization in applications ranging from polyurethane adhesives and polyurethane elastomers to ultraviolet (UV) curable coating materials and more
Global 1,6-Hexanediol Demand Analysis, By Region 2016-2032 (KT)
Leading Players in the 1,6-Hexanediol
The key players operating in the 1,6-Hexanediol market are BASF SE, Fushun Tianfu Chemicals, Lanxess, Lishui Nanming, Perstorp, Ube Industries, and Shandong Yuanli Science and Technology. BASF is a leading producer of 1,6-Hexanediol (HDO) with production facilities at its verbund sites USA and Germany. The company has recently announced to increase in the production capacity of 1,6-Hexanediol at its Ludwigshafen Verbund site by 50%. After the completion of the expansion, BASF's global Hexanediol nameplate capacity is estimated to cross 70 kilotons, which will be used in high-growth industries such as automobile, construction, and packaging.
Shandong Yuanli Science and Technology is a leading 1,6-Hexanediol producer in China followed by Zhejiang Boju New Materials, Liaoning Tianhua Chemical Co., Ltd., and Fushun Tiantian Chemical Co., Ltd. In Japan, UBE Industries a sole producer of 1,6-Hexanediol, uses HDO captively to produce polycarbonate diol (PCD) and other products. UBE operates a total of four 1,6-hexanediol production facilities: Yamaguchi Prefecture, Osaka Prefecture, and Thailand and Spain. The company has recently restarted production of 1,6-hexanediol at its facility in Thailand by switching to a different raw material.
Global 1,6-Hexanediol Demand Analysis, By Application 2023 (KT)
Asia Pacific: A Dominant Consumer and China's Remarkable Growth
In terms of 1,6-hexanediol demand, Asia Pacific on the back of China, is the biggest consumer of 1,6-hexanediol in 2021, accounting for more than 50% of the total 1,6-hexanediol market. The global demand for 1,6-hexanediol is anticipated to witness strong growth between 2023 and 2032 on the back of strong 1,6-hexanediol demand from high-end applications such as polyesters, polyurethane resins, and adhesives. China has witnessed major capacity additions in the historical period and it is further projected to witness more capacity addition of 20-40 kilotons in the coming years.
In the last 10 years, the 1,6-hexanediol market in China has grown at an annual average growth rate of 15% and further, it is projected to witness a double-digit growth rate in the forecast period till 2032 owing to increasing demand from end-use industries such as automotive, construction, electronics, and textiles. These end-use industries use 1,6-Hexanediol in a variety of applications, such as adhesives, coatings, and foams. Asia Pacific is poised to register the highest growth between 2023 and 2032 due to the increase in the production of coatings and polyurethane on the back of strong investment in the construction and automotive industry.
Global 1,6-Hexanediol Demand Analysis, By Application 2016-2032 (KT)
1,6-Hexanediol Application Markets: Polyurethane
In terms of 1,6-Hexanediol demand by Application, the polyurethane application dominates the global1,6-Hexanediol market.1,6-Hexanediol polyurethane is a type of polymer that is produced by the reacting 1,6-hexanediol and diisocyanate. 1,6-Hexanediol polyurethane is majorly used as a raw material for the production of various polyurethane products, including adhesives, coatings, foams, and elastomers. Owing to its excellent mechanical properties, including flexibility, high strength, and abrasion resistance it is used in applications where durability is important, such as in the automotive and construction industries.
1,6-Hexanediol polyurethane is used as a raw material to produce adhesives that require high strength and flexibility.
1,6-Hexanediol polyurethane is used to produce protective coating surfaces, including wood, metal, and concrete.
1,6-Hexanediol is used as a raw material to produce Polyurethane flexible and rigid foams that are used in a variety of applications, including furniture, bedding, packaging, insulation., mattresses, cushions, etc.
1,6-Hexanediol Polyurethane is used as raw material to make elastomers, which are used in a various application, including automotive components, medical devices, and other applications.
Polyurethane application dominates the global 1,6-Hexanediol market. It is used in the production of high-performance resins used in automotive adhesives, coating, foam, and other applications. Growing purchasing power in developing economies is seen as a key driver of demand for 1,6-Hexanediol. The economy in Asia-Pacific has been thriving on account of the advancements witnessed in automobile manufacturing. The automotive sector accounts for a significant share of exports of major countries like Japan, China, and South Korea in Asia-Pacific. Large quantities of the world’s automotive electronics come from the ASEAN region. The market for electric vehicles in the Asia Pacific is expected to rise on account of government subsidies and reductions in car prices. This will also drive the demand for 1,6-Hexanediol for automotive end-use.
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