Future Market Insights has announced the addition of the “Hexamethylenediamine Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment; 2017 – 2027" report to their offering.
Valley Cottage, NY -- (SBWIRE) -- 06/20/2017 -- Hexamethylenediamine, abbreviated as HMDA, is a colorless solid with a prominent amine odor. Hexamethylenediamine is synthesized from adiponitrile and is useful in a wide range of applications in the chemical industry. Hexamethylenediamine is used as a chemical intermediate monomer in the production of polymers such as nylon 6-6. In addition to this, it is also used in the manufacturing of coatings, curing agents, additives in petrochemical industry, inks and in scale and corrosion inhibitors used in water treatment chemicals. Moreover, hexamethylenediamine is used in combination with dicarboxylic acids for the production of other nylons such as nylon 69, nylon 610, and nylon 612. It is also used as a hardener for epoxy resins. In recent years, the demand for bio-based hexamethylenediamine needed for manufacturing nylon 66 has increased immensely. The overall market for hexamethylenediamine is anticipated to grow at a moderate CAGR over the forecast period.
Global Hexamethylenediamin Market Dynamics
Global Hexamethylenediamin Market Drivers
One of the major consumption areas for hexamethylenediamine is the manufacturing process of nylon 66 fiber and resins. Hence, the increase in demand for nylon 66 fibers has largely impacted the global hexamethylenediamine market in a positive way. With the growth of nylon as a major substitute for a number of applications, especially in the automotive industry where nylon has substituted metals in a number of applications, it is expected that the hexamethylenediamine market will grow at a fast pace. During the past few years, there has been a significant rise in demand for hexamethylenediamine which is used for the manufacturing of nylon 6-6 resins.
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Global Hexamethylenediamin Market Restraints
The increasing research and development focused on the development of a better substitute to replace the use of hexamethylenediamine during the manufacturing of nylon 66 is a major restraint for the market. Additionally, hexamthylenediamine is a highly corrosive substance and hence, there are regulations governing the manufacturing, packing and transport of this chemical.
Global Hexamethylenediamin Market Trends
There has been a significant increase in demand for bio-based nylon resins and hence, companies are focusing on creating a bio-based production technology for the manufacturing hexamethylenediamine and adipic acid (the other component used in the manufacture of nylon 66 along with hexamthylenediamine). The major factors differentiating the conventional hexamethylenediamine from bio-based hexamethylenediamine include cost effectiveness, raw material prices and the production process.
Yet another major trend observed in the global hexamethylenediamine market is that major manufacturers are focusing on the expansion of their production capacity to gain an edge over other players in the market. Many of the manufacturers have expanded their footprints in the emerging markets of China, India and other Asian Countries. The manufacturers are also making significant investments on acquisitions in the global hexamethylenediamine market.
Global Hexamethylenediamine Market Segmentation
The global Hexamethylenediamine market can be segmented on the basis of application and region.
On the basis of application, the global hexamethylenediamine market can be segmented into:
Water treatment chemicals
Paints, inks and Coatings
Adhesives and Sealants
Paper and Pulp Industry
Global Hexamethylenediamine Market Regional Outlook
The global hexamethylenediamine market is dominated by North America and Western Europe. Both the regions are a major consumer of hexamethylenediamine, which is majorly used in the manufacturing of nylon 66 resins. However, the regions will show steady growth over the forecast period as they have relatively mature markets. Japan also holds a significant share in the global hexamethylenediamine market. The market for hexamethylenediamine is projected to shift towards Asia Pacific with China expected to be a dominant player. Asia Pacific region is projected to register a relatively higher CAGR as compared to other regions. Middle East and Africa is estimated to show sluggish growth over the outlook period.
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Global Hexamethylenediamine Market Participants
Some of the market participants identified across the value chain of the global hexamethylenediamine market are:
BASF SE, Toray Industries, Inc., Solvay S.A., Asahi Kasei Corporation, Evonik Industries AG, Invista, Rennovia, Eastman Chemical Company, Genomatica, Ascend Performance Materials, Ashland Inc.