Dublin, Aug. 04, 2022 (GLOBE NEWSWIRE) -- The "Global Hexamethylenediamine Market - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
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 market will experience a growth of 5.4% with respect to CAGR between 2022 and 2027. The manufacturing process of nylon 6-6 fibre and resins is a major consumer of hexamethylenediamine. As a result, the increased demand for nylon 6-6 fibres has had a positive impact on the global hexamethylenediamine market.
With the rise of nylon as a major substitute for a variety of applications, particularly in the automotive industry, where nylon has replaced metals in a variety of applications, the hexamethylenediamine market is expected to expand rapidly.
Automotive segment to witness higher CAGR during the forecast period
The hexamethylenediamine market is divided into several end-use industries, including automotive, textile, paints & coatings, petrochemical, and others. In 2017, it is expected that the automotive industry will be the largest end-use industry segment in the hexamethylenediamine market.
During the forecast period, this segment is expected to grow at the fastest CAGR. Textile is expected to be the second-largest end-use industry segment in the hexamethylenediamine market, with paints and coatings growing at the second-fastest CAGR during the forecast period.
North America to be the largest market for hexamethylenediamine
North America is estimated to account for the largest share of the hexamethylenediamine market in 2021. The key players in this geographical hexamethylenediamine market are the US and Mexico.
The growth of the North American hexamethylenediamine market can be attributed to the region's expansive automotive sector. Moreover, the Asia Pacific hexamethylenediamine market is projected to expand at the fastest CAGR during the forecast period.
Competitive landscape
The hexamethylenediamine market comprises major solution providers, BASF SE (Germany), Merck KGaA (Germany), TORAY INDUSTRIES, INC. (Japan), Evonik (Germany), and DuPont de Nemours, Inc.(US) among others. The study includes an in-depth competitive analysis of these key players in the hexamethylenediamine market, with their company profiles, and key market strategies.
Premium Insights
- Market in Asia-Pacific to Offer Attractive Opportunities During Forecast Period
- Asia-Pacific to be Fastest-Growing Market During Forecast Period
- US and Nylon Synthesis Segment Accounted for Largest Shares
- Market in India to Grow at Highest CAGR from 2022 to 2027
Market Dynamics
Drivers
- Extensive Use in Manufacturing Nylon 66
- Increasing Demand for Polyamides in 3D Printing
Restraints
- R&D to Find Replacement of Hexamethylenediamine
- Untapped Growth Potential in Emerging Economies
Opportunities
- Growth of Bio-Based Hexamethylenediamine
- Growth Opportunities in Asia-Pacific
Challenges
- Slowdown in Chinese Manufacturing Sector
- Environmental Issues
Company Profiles
Major Players
- BASF Se
- Dupont De Nemours, Inc.
- Toray Industries, Inc.
- Merck KGaA
- Asahi Kasei Corporation
- Evonik
- Ashland
- Invista
- Ascend Performance Materials
- Lanxess
Additional Players
- Daejung Chemicals & Metals Co.,Ltd.
- Italmatch Chemicals
- Genomatica
- Junsei Chemical Co.,Ltd.
- Alfa Aesar
- Sinopharm Chemical Reagent Co. Ltd.
- Aladdin Industrial Corporation
- Shenma Industrial Co., Ltd. (Shenma Corporation)
- Suzhou Sibian Chemicals Co., Ltd.
- Meryer (Shanghai) Chemical Technology Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/s3tcj
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