HOME Research Insight BASF SE (Germany) and Ube Industries, Ltd. (Japan) are the Most Active Players in the Global 1,6-Hexanediol market

BASF SE (Germany) and Ube Industries, Ltd. (Japan) are the Most Active Players in the Global 1,6-Hexanediol market

The global 1,6-Hexanediol market is projected to reach USD 1,042.1 Million by 2021, at a CAGR of 7.44% between 2016 and 2021. The demand for 1,6-Hexanediol has improved in recent years due to its increased consumption in the Asia-Pacific region. In addition, the increasing usage of 1,6-Hexanediol in varied applications such as coatings, PU, acrylates, and polyester resins, among others, has further contributed to the growth of this market

The strategy of investments & expansions is the one of the major strategies adopted by key players in the global 1,6-Hexanediol market. This strategy helped companies increase their product portfolio and expand their global presence. Companies are also focused on entering new markets by launching technologically advanced and innovative 1,6-Hexanediol products for varied applications. Some of the leading manufacturers of 1,6-Hexanediol 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). These companies have adopted various organic and inorganic growth strategies to improve their businesses and increase their market shares.

Companies have also adopted joint ventures, partnerships, agreements, and mergers & acquisitions strategies; these strategies accounted for a collaborative share of 44% of all strategic developments adopted by key players between 2013 and 2016.

Europe is considered to be the most active region, in terms of strategic initiatives. In October 2013, BASF SE expanded the production capacity of 1,6-Hexanediol by 20%, making it to a total of 50 kilotons per annum, with an investment of USD 31.95 million. BASF operates HDO production facilities at its Verbund sites in Ludwigshafen, Germany. This expansion strategy helped the company to cater to the increasing demand for 1,6-Hexanediol from varied industry verticals. Similarly, in August 2012, BASF expanded the capacity of cyclohexane oxidation to 50 kilotons at its Antwerp Verbund site, Belgium. The expansion was implemented as part of the company’s two long-term planned turnarounds. This development strategy helped the company reinforce its presence in the global 1,6-Hexanediol market.

BASF SE (Germany) and Ube Industries, Ltd. (Japan) are the most active players in the global 1,6-Hexanediol market. These companies accounted for the largest share of all developmental activities undertaken in the global 1,6-Hexanediol market between 2013 and 2016. As a part of its organic growth strategy, BASF SE (Germany) focuses on expanding its 1,6-Hexanediol product portfolio and enhancing its presence in the European and North American regions.

Another key player that has established a strong foothold in the global 1,6-Hexanediol market is Perstorp AB (Sweden). The company concentrates on expanding its customer base through investments & expansions, joint ventures, partnerships, and agreements. For instance, in 2012, Perstorp entered into a joint venture with Thailand’s largest chemical producer, PTT Global Chemical, for enhancing the manufacturing and sales of aromatic (TDI) and aliphatic (IPDI, HDI & derivates) isocyanates. Moreover, in March 2013, Perstorp AB and Corbion Purac (Netherlands), a renewable lactic acid maker, entered into a partnership for the production of caprolactam lactide co-products used in coatings, adhesives, and sealants & elastomers, and as hot-melt adhesives.

Related Reports:

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

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