Industry News

Increasing Applicability of 1,6-Hexanediol in Polyurethanes Fuels its Growth: M&M

Published on 2017-02-06. Author : SpecialChem

The report "1,6-Hexanediol Market by Application (Polyurethanes, Coatings, Acrylates, Adhesives, Polyester Resins, Plasticizers), and Region (Europe, North America, Asia-Pacific, South America, and Middle East & Africa) - Global Forecasts to 2021", The global 1,6-Hexanediol market is projected to grow from USD 727.8 Million in 2016 to USD 1,042.1 Million by 2021, at a CAGR of 7.44% during the forecast period.


Global 1,6-Hexanediol Market Worth USD 1,042.1 Million

Growth in this market is mainly attributed to the increased demand for 1,6-Hexanediol from various end user products. In addition, the increasing applicability of 1,6-Hexanediol in polyurethanes, coatings, and adhesives, among others, is anticipated to fuel the growth of the global 1,6-Hexanediol market. The current industry growth is backed by the increasing demand for 1,6-Hexanediol from the Asia-Pacific region and the improved captive consumption by manufacturers across varied industry verticals.

Increasing Applicability of 1,6-Hexanediol in Polyurethanes
The polyurethanes segment is largest application segment of the global 1,6-Hexanediol market, in terms of value and volume; this segment is anticipated to continue its dominance till 2021. One of the most significant factors driving the growth of the polyurethanes segment is the demand for its sub-applications and derivatives, such as thermoplastic polyurethanes elastomers, coatings, and foams, across varied regions worldwide.

  • The 1,6-Hexanediol market in the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. There is a rising demand for 1,6-Hexanediol from emerging countries of the Asia-Pacific region, such as India, China, South Korea, Vietnam, and Singapore, among others. Growth in this market is mainly driven by the increase in standard of living of individuals and rise in per capita income.
  • In addition to this, the increasing use of 1,6-Hexanediol in various end-use applications such as coatings, PU, acrylates, and polyester resins, among others is expected to drive the demand and consumption of 1,6-Hexanediol, globally. 
  • Key players operating in the global 1,6-Hexanediol market include BASF SE (Germany), Fushun Tianfu Chemicals Co., Ltd. (China), Lanxess Aktiengesellschaft (Germany), Lishui Nanming (China), Perstorp AB (Sweden), Ube Industries, Ltd. (Japan), and Shandong Yuanli Science and Technology Co., Ltd. (China).

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Source: MarketsandMarkets
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