Hexamethylenediamine Market To Reach USD 8,206.6 Million at a CAGR of 5.4% by 2027 | Reports and Data

Hexamethylenediamine Market: The increasing demand from the automotive and textile industry is driving the growth of the market.

NEW YORK CITY, NEW YORK, UNITED STATES, September 21, 2022 /EINPresswire.com/ -- The global Hexamethylenediamine market is forecast to reach USD 9.69 Billion by 2027, according to a new report by Reports and Data. HMDA, also known as, Hexamethylenediamine, is a colorless crystalline solid and has a characteristic of amine odor. It consists of a hexamethylene hydrocarbon chain terminated with an amine functional group.

HMDA can be used as a corrosion inhibitor, chemical intermediate, and a curing agent. Thus, it has extensive applications in several end-use industries such as textile, water treatment, and automotive. Moreover, it is also used in manufacturing resins that can be used in paints and adhesives. The growing demand for the market product in the textile and automotive industry is driving the growth of the market. This is due to the increasing demand for HMDA as a precursor in the manufacture of nylon 6,6. This product is used to produce domestic and technical textiles.

The Asia Pacific region is dominating the global market share due to the rapid industrialization. China is the largest consumer of the market product on account of the rising exports of nylon from the country. The total export of nylon in 2018 in the country was valued at USD 137.7 million. Moreover, India and South East Asian countries are propelling the demand on account of the increasing application in the water treatment industry. These factors are creating ample opportunities for growth in the region.

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Top Companies: BASF SE, Toray Industries, Inc., Merck KGaA, Solvay SA, Evonik Industries AG, Ashland Global Holdings, Inc., E. I. Du Pont De Nemours, Invista, Asahi Kasei Corporation, and Lanxess among others.

Further key findings from the report suggest:

Nylon 6,6 is used in the automobile to manufacture electro-insulating elements, airbags, and radiator end tanks. Due to the rising environmental concerns, there is a growing need to produce bio-based Hexamethylenediamine. This is expected to create a demand for the market players internationally.

HMDA is slightly toxic, and direct exposure during its manufacturing can damage the eye and burn skin. It has also been included in the hazardous substance list by the European Chemicals Agency and American Conference of Governmental Industrial Hygienists. This will hamper the market growth.

The increasing demand for HMDA as a raw material in the paints and coatings industry and the growing constructional activities in the region is driving the demand of the market. Additionally, the rising advancements in the U.S., along with the emerging multifunctional application like functional coatings and 3D printing, are further driving the demand in North America.

APAC is also forecasted to grow owing to its extensive growth in the nylon fiber-based apparel and consumer products coupled with the massive demand for nylon fibers in military and sports usages, especially in China, Japan, and Indian sub-continental countries.

In June 2019, Universal Fibers, Inc., a major player in the nylon fibers production, updated the acquisition of twisting and heat-setting assets for its production Europe and Asian production facilities situated in Gorzow, Poland and Taicang, China. Both plants in the two different continents are fully integrated with all the procedures right from extrusion to finished yarns in multiple chemistries, including Nylon 6 and Nylon 6,6, and serve carpet manufactures deal in residential, commercial and automotive end-uses.

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Market Segmentation:

Grade Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)

Chemical Grade
Industrial Grade

Applications Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)

Nylon Synthesis
Curing Agents
Lubricants
Biocides
Coatings Intermediate
Adhesives

End Use Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)

Automotive
Textiles
Petrochemicals
Paints and Coatings

Regional Outlook:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Key questions covered in the global Hexamethylenediamine Market report:

What is the expected market size of the global Hexamethylenediamine Market during the forecast period?
What factors are expected to hamper global Hexamethylenediamine Market growth over the forecast period?
What key factors are expected to drive global revenue growth between 2021 and 2028?
Which application segment is expected to dominate other application segments over the forecast period?
Which region is expected to dominate in terms of revenue during the forecast period?
What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
Which leading players are operating in the global Hexamethylenediamine Market?

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