Hexamethylenediamine Market by Application (Nylon Synthesis, Curing Agents, Petroleum Additives, Scale and Corrosion Inhibitors, and Others) End-Use Industry (Automotive, Textile, Paint and Coating, Petrochemical, Water Treatment, and Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 8 billion mark in 2022 and is expected to hit US$ 12 billion by 2030, recording a CAGR of 5% during the forecast period.
Hexamethylenediamine market has been significantly growing due to increasing its use in nylon synthesis
The major factor driving the hexamethylenediamine market growth is an increasing its demand from nylon synthesis application. The polyamide 66 or nylon 66 is made from hexamethylenediamine. Nylon 6,6 is waterproof in nature hence it is used to make swimwear. It is having a high melting point which make it more resistant to heat and friction so it is suitable to be used in airports, offices and other places which are more liable to wear and tear. Nylon 6,6 also finds application in airbags, carpets, ropes, etc. The growing demand for Nylon 6,6 form these different application fields mainly drives the demand for hexamethylenediamine. The automotive segment is expected to held the significant share of the market during the forecast period. Further, other segments such as textile, paint and coating, and water treatment are also expected to gain traction during the forecasted year.
Within the report, the market is segmented into application, end-use industry, and geography. By application, the market is further segmented into nylon synthesis, curing agents, petroleum additives, scale and corrosion inhibitors, and others. On the basis of end-use industry, the market is segmented into automotive, textile, paint and coating, petrochemical, water treatment, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Development of biobased hexamethylenediamine
With the world moving toward carbon neutrality, an attention is increasing towards the solutions for reducing greenhouse gas emissions from chemical products derived from fossil fuels. As a result, players operating in the hexamethylenediamine market are focusing on developing biobased hexamethylenediamine. For instance, in 2022, Asahi Kasei has formed a strategic partnership with Genomatica, Inc., regarding hexamethylenediamine based on biomass-derived raw material (bio-HMD). The strategic alliance with Genomatica provides Asahi Kasei with preferential rights to access the early volume of bio-HMD to evaluate the possibility as a feedstock of polyamide 66. Hence, the development of biobased hexamethylenediamine is expected to offer more lucrative opportunities for the market growth during the forecast period.
Strong growth of the automotive industry
There is an increasing use of hexamethylenediamine in the manufacturing of automotive components and produce lubricants. An expanding automotive industry in various countries across the globe drives the demand for hexamethylenediamine. The global automotive sector has witnessed tremendous growth in the last decade. In China, the automotive industry has been growing rapidly, and the country is playing an increasingly important role in the global automotive market.
Recent strategic developments in hexamethylenediamine market
The hexamethylenediamine market has undergone several significant developments, and a few of these have been mentioned below:
- According to the news released in January 2022, BASF SE has decided to build a new hexamethylenediamine (HMD) plant in Chalampé, France. The new plant is set to increase the company’s annual hexamethylenediamine production capacity to 260,000 metric tons. This production is expected to start in the year 2024.
- In January 2022, Ascend Performance Materials signed an investment agreement to construct a new hexamethylenediamine and specialty chemicals plant in Lianyungang, China in the Xuwei New Area Park. The plant is expected to produce hexamethylenediamine and specialty chemicals to supply the company’s global polyamide production and serve regional customers.
The hexamethylenediamine market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. TORAY INDUSTRIES, INC.; BASF SE; Merck KGaA; INVISTA; and Ashland LLC are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Hexamethylenediamine related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Application industries of hexamethylenediamine
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Application
- Nylon Synthesis
- Curing Agents
- Petroleum Additives
- Scale and Corrosion Inhibitors
- Others
- End-use Industry
- Automotive
- Textile
- Paint and Coating
- Petrochemical
- Water Treatment
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- TORAY INDUSTRIES, INC.
- BASF SE
- Merck KGaA
- INVISTA
- Ashland LLC
Companies profiled
- TORAY INDUSTRIES, INC.
- BASF SE
- Merck KGaA
- INVISTA
- Ashland LLC