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The companies should focus on research activities and expanding their capacity in the rapidly growing 1,6-Hexanediol market
The 1,6-Hexanediol market is driven by the important global players and their product qualities in the key growth markets. Europe is the largest market, followed by the Asia-Pacific and North American regions. Leading market players have integrated their value chains so as to reduce the impact of external environment on product economics. Also, the leading players are projected to expand their businesses by infusing the growth strategies to sustain such high demand-oriented market.
BASF (Germany), Ube Industries (Japan), Lanxess (Germany), Lishui Nanming Co., Ltd. (China), Fushun Tianfu Chemicals Co., Ltd. (China), and Perstorp AB (Sweden) are the important manufacturers of 1,6-Hexanediol at the global level. BASF, Perstorp AB, and Ube Industries have been the most active players from 2011 to 2013, in terms of developments in the 1,6-Hexanediol industry. In terms of market activities, expansion was the most preferred development strategy. Most of the developments are seen in 2012 in the Asia-Pacific region. It is expected that the players will have to create joint ventures or partnerships to cope up with high demand and tight supply in the industry.
Though the global players have the 1,6-Hexanediol sufficient capacities, their captive consumption creates less availability to the end-user producers. These players are constantly expanding the capacities to fulfill the increased demand, globally. Recently, a Sweden-based leading fine chemicals company, Perstorp AB, entered in the 1,6-Hexanediol market, banking on the opportunity of the increasing end-user demand. Also, Lanxess entered into a partnership with BioAmber Inc. (U.S.), a global leader in succinic acid, to develop the products related to 1,6-Hexanediol, plasticizers, and bio-derivatives as well. BioAmber already has a license to make the C6 derivatives such as adipic acid, hexamethylene diamine and 1,6-Hexanediol from sugar a bio renewable resource.
In the Asia-Pacific region, Ube Industries established a local subsidiary in India to strengthen its global business developments by targeting growth markets in the developing countries. This was done to engage in sales and for market development of the Ube Group in India.
The report categorizes 1,6-Hexanediol into different applications. These are polyurethanes, coatings, acrylates, adhesives, unsaturated polyester resins, plasticizers, and others. The others segment is a potential high growth application segment that covers resins (alkyd, epoxy, UV curable), dyestuff, sizing agents, surfactants, and pesticides. Polyurethanes are largely used in different applications, such as rigid foams, flexible foams, coatings, elastomers, and adhesives & sealants due to their varied properties. It is estimated to grow at a CAGR of 6.8% from 2014 to 2019 in terms of volume. The Asia-Pacific region, with an estimated CAGR of 7.5% from 2014 to 2019, is the fastest growing market for 1,6-Hexanediol by polyurethanes applications segment in terms of volume.
1,6-Hexanediol Market by Application (Polyurethanes, Coatings, Acrylates, Adhesives, Unsaturated Polyester Resins, Plasticizers, and Others) and By Geography (NA, Europe, Asia-Pacific, & ROW) - Trends and Forecasts to 2019
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