BASF SE (Germany) and Merck KGaA (Germany) are leading players in Hexamethylenediamine Market
The global hexamethylenediamine market size is projected to grow from USD 8.9 billion in 2022 to USD 11.6 billion by 2027, at a CAGR of 5.4% from 2022 to 2027. The organic compound with the formula H2N(CH2)6NH2 is known as hexamethylenediamine. A diamine is a molecule composed of a hexamethylene hydrocarbon chain terminated with amine functional groups. The amine odour is strong in the colourless solid (yellowish in some commercial samples). Hexamethylenediamine is almost entirely used in the production of polymers, which takes advantage of its structure. It is difunctional in terms of amine groups but tetrafunctional in terms of amine hydrogens. The production of nylon 66 via condensation with adipic acid consumes the vast majority of the diamine. Otherwise, phosgenation produces hexamethylene diisocyanate (HDI) from this diamine as a monomer feedstock in the production of polyurethane. In epoxy resins, the diamine also acts as a cross-linking agent.
The hexamethylenediamine market has major players including BASF SE (Germany), Merck KGaA (Germany), TORAY INDUSTRIES, INC. (Japan), Evonik (Germany), and DuPont de Nemours, Inc.(US), among others. These players have adopted various growth strategies, such as mergers & acquisitions and investments & expansions, to increase their market shares and enhance their product portfolios.
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BASF SE has 11 divisions and operates under business segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. The major end-use markets for the company’s products and services are automotive & transportation, chemicals, electrical & electronics, construction, energy & resources, pharmaceuticals, papers coating & carpet, and packaging & prints, among others. The company has a presence in Europe, Asia Pacific, North America, Central America, South America, and the Middle East & Africa. It has a presence in 90 countries globally. It has six Verbund sites and 232 additional production sites around the world.
Merck KGaA is a technology and science company operating in the healthcare, life science, and performance materials business. The company operates in three business segments– healthcare, life sciences, and electronics. It specializes in pharmaceuticals, chemicals, and technology. The revenue of the company increased by 12.3% in 2021 compared to 2020. The company has a strong presence in North America, Europe, South America, Asia Pacific, and the Middle East & Africa. Merck KGaA offers hexamethylenediamine for end-use applications such as polymer synthesis, intermediates, and curing agents. The major end markets for hexamethylenediamine offered by the company are automotive, textile, and paints & coatings, among others. The company’s product offerings have a high brand value across end-use industries.
Related Reports:
Hexamethylenediamine Market by Application (Nylon Synthesis, Curing Agents, Lubricants, Biocides, Coatings Intermediate, Adhesives), End-Use Industry (Automotive, Textile, Paints & Coatings, Petrochemical) and Region - Global Forecast to 2027
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