Global 1,6 Hexanediol Market Overview to 2022
1,6 Hexanediol market is fragmented market with presence of tier 1 as well as small regional players. The major players are investing heavily in R&D to develop bio based products in order to meet environmental legislation and minimize impact on environment. The key players in the market are adopting strategies such as partnership or agreement with small regional players and distributors to meet global demand of 1,6 Hexanediol.
Study Objectives of 1,6 Hexanediol Market
- To study detail of 1,6 Hexanediol market by application and by region in forecasted period 2022.
- To identify the market dynamics of 1,6 Hexanediol market dynamics by drivers, restrains, opportunities and challenges.
- To analyze various factors like value chain analysis and porters five forces model.
- To provide historical and forecast revenue of market segment with respect to North America, Europe, APAC and RoW.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track mergers and acquisitions, strategic alliances, new product development of specified company.
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Other strategies adopted by market participants are merger & acquisition with downstream industries. Moreover, manufactures are focusing on advanced technologies and innovation products to establish new footprints in developing markets. The leading manufacturers such as Perstorp AB, BASF and Lanxess are expanding in production capacity to cater to overall demand of 1,6 hexanediol in global end use market. For instance, in 2013, BASF increased production capacity of 1,6 hexanediol by 20% to total of 50 kilo tons per annum. Several companies are focusing on product development through technology advancement and enhancing their product penetration in emerging markets.
Strong demand growth of polyurethane across end use industries such as transportation, building & construction is expected to drive the global 1,6 hexanediol market over the years. Polyurethane being versatile polymer has gain significant progress as 1,6 hexanediol can be customized to suit the standards and safety of manufacturing the end use products. Increasing demand of rigid foam in applications such as insulators, sealants and flooring in construction industry is further anticipated to propel the 1,6 hexanediol demand for manufacturing polyurethane.
The properties of 1,6 Hexanediol are high porosity, good thermal stability, and good physical stability at high pressure, and polymer monoliths. Owing to aforementioned properties, 1,6 hexanediol is used in production of polyurethane, acrylates, paints & coatings, adhesives, polyester resins and unsaturated plasticizer among others. The polyurethane is the largest application segment in the global 1,6 hexanediol market. Some of protuberant factors driving polyurethane application segment are growing demand of flexible foam in furniture industry for manufacturing of carpet, seat cushions and mattress along with rise in consumer spending on modern interiors are expected to augment the growth of 1,6 hexanediol market. Polyurethane manufactured from 1,6 hexanediol offers high resistance of hydrolysis, high mechanical strength and low glass transition temperature. Thus, holds prominent share in global 1,6 hexanediol market.
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High affinity towards water and colourless crystalline solid makes 1,6 hexanediol extensively used in paints & coating and acrylics, adhesives and plasticizers among others. 1,6 hexanediol based coatings possess high flexibility and surface hardness coupled with strong adhesion to substrates which also anticipated the product demand over the coming years. Moreover, increasing demand of industrial coatings owing to robust end use industry growth is expected to drive the market growth. Protective coatings are used on large scale in applications such as automotive, infrastructure and machinery & equipment’s in order to improve quality and aesthetic properties of the product. Hence, robust industry growth is further anticipated to augment the market growth.
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