The global 1,6-Hexanediol market is emerging with a robust growth due to the increasing number of applications in different vertical industries, such as polyurethanes, coatings, adhesives, acrylates, unsaturated polyester resins, plasticizers, and others. To sustain and maintain strong growth in the future, the companies need to put in a lot investment as well as efforts in the research and development to come up with high quality and cost-effective 1,6-Hexanediol.
There are less human health hazards, environmental risks, and government regulations, associated with 1,6-Hexanediol in different consumer application segments, globally. The key producers use 1,6-Hexanediol to produce their own value chain products. It is largely used as an intermediate in different product formations across the different application segments. Also, the in house production of 1,6-Hexanediol allows to lower the overall cost of the end products for these companies. The leading manufacturers, such as BASF, Ube Industries, and Lanxess are captive users of 1,6-Hexanediol for their polyester polyols and other products.
The Asia-Pacific region has tremendous opportunity for 1,6-Hexanediol market and its applications. This region emerged to be the driving factor for this market, contributing to more than 27% of the global demand and is projected to grow at a CAGR of 9.5% from 2014 to 2019. China is the largest country in the consumption of 1,6-Hexanediol due to the increased demand from polyurethanes, coatings, acrylates, and other manufacturing segments in the industry. The other emerging economies, such as Brazil, India, Russia, and others are further lined up for a brighter future in this market.
Ube Industries, headquartered at Japan, aims to increase its presence in the Asia-Pacific region, particularly in India, South Korea, and Thailand, by increasing its production as well as infrastructure. The leading Chinese players Lishui Nanming and Fushun Tianfu are offering the 1,6-Hexanediol to domestic and global end-users. The Asia-pacific regional market is catered by domestic as well as global manufacturers such as BASF, Ube Industries, Lanxess, and Perstorp AB. Recently, Perstorp AB entered in the 1,6-Hexanediol manufacturing business to cater the rising demand for 1,6-Hexanediol from the end-user application segments.
Asia-Pacific enhanced demand is projecting high growth in this market. So, several companies are expected to enter in 1,6-Hexanediol market. For instance, U.S. chemical giant DuPont and Canadian BioAmber Inc. have filed a patent to manufacture 1,6-Hexanediol in 2012. The players will employ organic growth strategies, such as geographic expansion and new product developments to expand their overall business worldwide. The main companies operating in this market are engaged in bringing innovations in their products as well as enhancing their penetration in the emerging markets. They are constantly taking efforts to strengthen their material research & development to provide cost-effective product. These products are manufactured adhering to the regulations set by environmental organizations and respective governments. All such developments will lead to sustainable growth in the 1,6-Hexanediol market in the next five years.
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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