1,6-Hexanediol Market Analysis, Size, Share & Forecast 2031
1,6-Hexanediol Market Analysis, Size, Share & Forecast 2031
Segments - 1,6-Hexanediol Market by Type (99% Purity Grade, 99.7% Purity Grade, and Others), Application (Coatings, Polyurethanes, Acrylates, Polyester Resin, Adhesives, Plasticizers, and Others), End-use Industry (Automotive & Transportation, Marine, Electric & Electronics, Pipe & Tanks, and Wind Energy), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :MC-6175
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Report Description
1,6-Hexanediol Market Outlook 2031
The global 1,6-hexanediol market size was USD 1.12 Billion in 2022 and is likely to reach USD 2.12 Billion by 2031, expanding at a CAGR of 7.88% during 2023–2031. The market is driven by the growing use of 1,6-hexanediol in various end-use applications.
Increasing use of 1,6-hexanediol in automotive manufacturing is projected to impel the market during the assessment period. It helps in the manufacturing of durable coatings, adhesives, and components for improved vehicle performance and longevity. Furthermore, the high demand for consumer goods, ranging from furniture to footwear, is expected to fuel the market, as 1,6-hexanediol plays a vital role in enhancing the durability and comfort of these products.
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As per the data from the US Department of Commerce’s International Trade Administration, the US is one of the major manufacturers of automotive vehicles across the globe. In 2020, the US has reported sales of around 14.5 million light vehicles.
The use of 1,6-hexanediol in the manufacturing of adhesives helps to enhance the strength and bonding characteristics of adhesives used in various manufacturing processes. The construction industry is increasingly using polyurethane made with 1,6-hexanediol for coating, sealing, and insulation to enhance performance in infrastructure projects. These factors are projected to create profitable opportunities in the market in the coming years.
The outbreak of the COVID-19 pandemic impeded the market. Emergency lockdowns and several restrictions imposed by governments across the globe disrupted the distribution network. This caused delays in the supply of 1,6-hexanediol to numerous end-use industries, which hampered the market.
1,6-Hexanediol Market Dynamics
Major Drivers
Increasing demand for polyurethane is expected to drive the market during the projection period. 1,6-hexanediol is one of the crucial building blocks in the polyurethane production. Polyurethane is widely used in coatings, adhesives, and flexible foams, which are extensively used in the automotive, construction, and furniture industries.
Polyurethane foams are used for insulation in construction and refrigeration. Furthermore, the footwear industry uses this polymer in athletic shoes to improve cushioning, durability, and flexibility. Thus, the high demand for polyurethane is projected to fuel the market in the coming years.
Existing Restraints
Transportation and storage challenges are anticipated to hamper the market during the forecast period. 1,6-hexanediol is highly hygroscopic, which makes it difficult to store and transport. Therefore, it is necessary to take precautions to limit its contact with air or moisture.
Although the substance is minimally toxic. Thus, handling it requires extensive safety measures. It can cause eye irritation and diffuse opacity of the cornea if it comes in contact with the eyes. Additionally, 1,6-hexanediol dust or vapors cause inflammation in the respiratory tract. These factors are likely to restrain the market during the forecast period.
Emerging Opportunities
Rapid industrialization across the globe is anticipated to provide substantial growth opportunities in the market. The demand for various end-use products and materials that employ the use of 1,6-hexanediol has increased rapidly. The high requirement for coatings and adhesives in the construction and automotive sectors is anticipated to boost the market. Furthermore, rapid expansion of the industrial sector in developing countries is anticipated to create lucrative prospects for the market.
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In October 2022, PETRONAS Chemicals Group Berhad successfully completed its acquisition with Perstorp. The acquisition allowed PETRONAS Chemicals Group Berhad to create a new platform in the specialty chemicals industry. Perstorp is now a wholly-owned subsidiary of PETRONAS Chemicals Group Berhad.
Scope of the 1,6-Hexanediol Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
1,6-Hexanediol Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Type (99% Purity Grade, 99.7% Purity Grade, and Others), Application (Coatings, Polyurethanes, Acrylates, Polyester Resin, Adhesives, Plasticizers, and Others), and End-use Industry (Automotive & Transportation, Marine, Electric & Electronics, Pipe & Tanks, and Wind Energy) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
BASF SE; Hefei TNJ Chemical Industry Co., Ltd.; Henan Tianfu Chemical Co., Ltd.; LANXESS; Petroliam Nasional Berhad (PETRONAS); Prasol Chemicals Limited; UBE Corporation; YUANLI SCIENCE AND TECHNOLOGY; Zhejiang Lishui Nanming Chemical Co., Ltd.; and Zhengzhou Meiya Chemical Products Co., Ltd. |
1,6-Hexanediol Market Segment Insights
Type Segment Analysis
Based on type, the 1,6-hexanediol market is divided into 99% purity grade, 99.7% purity grade, and others. The 99% purity grade segment is projected to hold the major share of the market during the projection period due to the increasing demand for 99% pure 1,6-hexanediol from pharmaceuticals, cosmetics, and specialty chemicals industries.
99% purity grade 1,6-hexanediol is crucial in the production of various end-use products. Additionally, favorable chemical properties and stringent quality requirements significantly contribute to the rising prominence of the 99% purity grade 1,6-hexanediol in various industrial applications.
Application Segment Analysis
On the basis of application, the global market is segregated into coatings, polyurethanes, acrylates, polyester resin, adhesives, plasticizers, and others. The polyurethanes segment is projected to register a high CAGR during the forecast period, owing to the rising demand for various polyurethane-based products across various industries.
The versatile use of this polymer in applications, such as coatings, specialty adhesives, and elastomers, is one of the key factors responsible for its surging demand. Its durability and availability in different shapes and sizes make it one of the most sought-after materials in manufacturing and production.
The polyester resin segment is anticipated to expand at a significant pace in the coming years, due to its surging requirement in diverse applications. The ideal physical characteristics of polyester resin are leading to its high adoption in the automotive, electronics, and construction industries.
Continuous R&D activities are leading to the formulation of advanced polyester resins with performance characteristics. For instance, the development of bio-based polyester resin supports the rising trend of sustainable and eco-friendly products. These factors are expected to fuel the segment in the coming years.
End-use Industry Segment Analysis
On the basis of end-use industry, the 1,6-hexanediol market is segmented into automotive & transportation, marine, electric & electronics, pipe & tanks, and wind energy. The automotive & transportation segment is anticipated to register a robust growth rate during the forecast period.
1,6-hexanediol is one of the key materials used in the production of high-performance polyurethane coatings that are used in automobiles. It enhances the durability, flexibility, and adhesion of coatings. This chemical is used in the synthesis of specialized polyesters for automobile interiors, improving material strength and resilience. Thus, the use of 1,6-hexanediol in automotive vehicles is expected to increase in the coming years, with the expansion of the automobile industry, thereby boosting the market.
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As per the survey conducted in August 2023, close to 75% of the population in the US has access to cars, as of March 2023. Around 20% of people have some kind of company or family car.
Regional Outlook
In terms of region, the global 1,6-hexanediol market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period owing to the growing manufacturing sector in the region. The rapid expansion of the automotive, construction, and consumer goods industries is expected to increase the demand for high-performance materials, such as polyurethane.
1,6-hexanediol plays a vital role in the development of such polymers, enhancing the properties of coating and adhesion in them. The increasing adoption of advanced technology and rapid industrial expansion in this region is projected to create lucrative prospects for the market during the assessment period.
The market in North America is projected to register significant growth due to the increasing demand for polyurethane from key industries, such as automotive, construction, and coatings. The excellent industrial infrastructure in this region facilitates the production of a wide range of end-use products that incorporate the use of 1,6-hexanediol at a large scale. Furthermore, the presence of several key players is projected to create profitable opportunities in the market.
Segments
The 1,6-hexanediol market has been segmented on the basis of
Type
- 99% Purity Grade
- 99.7% Purity Grade
- Others
Application
- Coatings
- Polyurethanes
- Acrylates
- Polyester Resin
- Adhesives
- Plasticizers
- Others
End-use Industry
- Automotive & Transportation
- Marine
- Electric & Electronics
- Pipe & Tanks
- Wind Energy
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global 1,6-hexanediol market are BASF SE; Hefei TNJ Chemical Industry Co., Ltd.; Henan Tianfu Chemical Co., Ltd.; LANXESS; Petroliam Nasional Berhad (PETRONAS); Prasol Chemicals Limited; UBE Corporation; YUANLI SCIENCE AND TECHNOLOGY; Zhejiang Lishui Nanming Chemical Co., Ltd.; and Zhengzhou Meiya Chemical Products Co., Ltd.
These companies incorporate expansion strategies, including mergers, product launches, acquisitions, collaboration, partnerships, and production expansion, to tap into untapped regions. For instance,
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In April 2023, LANXESS declared the successful development of 1,6-Hexanediol under the Scopeblue brand label more sustainably. The manufacturing process of this product boasts a carbon footprint that is less than half of that found in conventional counterparts, or it utilizes a sustainable raw material content of over 50%.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. 1,6-Hexanediol Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. 1,6-Hexanediol Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. 1,6-Hexanediol Market - Supply Chain
4.5. Global 1,6-Hexanediol Market Forecast
4.5.1. 1,6-Hexanediol Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. 1,6-Hexanediol Market Size (000’ Units) and Y-o-Y Growth
4.5.3. 1,6-Hexanediol Market Absolute $ Opportunity
5. Global 1,6-Hexanediol Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. 1,6-Hexanediol Market Size and Volume Forecast by Types
5.3.1. 99% Purity Grade
5.3.2. 99.7% Purity Grade
5.3.3. Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global 1,6-Hexanediol Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. 1,6-Hexanediol Market Size and Volume Forecast by Applications
6.3.1. Coatings
6.3.2. Polyurethanes
6.3.3. Acrylates
6.3.4. Polyester Resin
6.3.5. Adhesives
6.3.6. Plasticizers
6.3.7. Others
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global 1,6-Hexanediol Market Analysis and Forecast by End Users
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by End Users
7.2.2. Y-o-Y Growth Projections by End Users
7.3. 1,6-Hexanediol Market Size and Volume Forecast by End Users
7.3.1. Automotive & Transportation
7.3.2. Marine
7.3.3. Electric & Electronics
7.3.4. Pipe & Tanks
7.3.5. Wind Energy
7.4. Absolute $ Opportunity Assessment by End Users
7.5. Market Attractiveness/Growth Potential Analysis by End Users
8. Global 1,6-Hexanediol Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. 1,6-Hexanediol Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global 1,6-Hexanediol Demand Share Forecast, 2019-2026
9. North America 1,6-Hexanediol Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America 1,6-Hexanediol Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America 1,6-Hexanediol Market Size and Volume Forecast by Types
9.4.1. 99% Purity Grade
9.4.2. 99.7% Purity Grade
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. North America 1,6-Hexanediol Market Size and Volume Forecast by Applications
9.7.1. Coatings
9.7.2. Polyurethanes
9.7.3. Acrylates
9.7.4. Polyester Resin
9.7.5. Adhesives
9.7.6. Plasticizers
9.7.7. Others
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. North America 1,6-Hexanediol Market Size and Volume Forecast by End Users
9.10.1. Automotive & Transportation
9.10.2. Marine
9.10.3. Electric & Electronics
9.10.4. Pipe & Tanks
9.10.5. Wind Energy
9.11. Basis Point Share (BPS) Analysis by End Users
9.12. Y-o-Y Growth Projections by End Users
9.13. Market Attractiveness/Growth Potential Analysis
9.13.1. By Country
9.13.2. By Product Type
9.13.3. By Application
9.14. North America 1,6-Hexanediol Demand Share Forecast, 2019-2026
10. Latin America 1,6-Hexanediol Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America 1,6-Hexanediol Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America 1,6-Hexanediol Market Size and Volume Forecast by Types
10.4.1. 99% Purity Grade
10.4.2. 99.7% Purity Grade
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Latin America 1,6-Hexanediol Market Size and Volume Forecast by Applications
10.7.1. Coatings
10.7.2. Polyurethanes
10.7.3. Acrylates
10.7.4. Polyester Resin
10.7.5. Adhesives
10.7.6. Plasticizers
10.7.7. Others
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Latin America 1,6-Hexanediol Market Size and Volume Forecast by End Users
10.10.1. Automotive & Transportation
10.10.2. Marine
10.10.3. Electric & Electronics
10.10.4. Pipe & Tanks
10.10.5. Wind Energy
10.11. Basis Point Share (BPS) Analysis by End Users
10.12. Y-o-Y Growth Projections by End Users
10.13. Market Attractiveness/Growth Potential Analysis
10.13.1. By Country
10.13.2. By Product Type
10.13.3. By Application
10.14. Latin America 1,6-Hexanediol Demand Share Forecast, 2019-2026
11. Europe 1,6-Hexanediol Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe 1,6-Hexanediol Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe 1,6-Hexanediol Market Size and Volume Forecast by Types
11.4.1. 99% Purity Grade
11.4.2. 99.7% Purity Grade
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Europe 1,6-Hexanediol Market Size and Volume Forecast by Applications
11.7.1. Coatings
11.7.2. Polyurethanes
11.7.3. Acrylates
11.7.4. Polyester Resin
11.7.5. Adhesives
11.7.6. Plasticizers
11.7.7. Others
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Europe 1,6-Hexanediol Market Size and Volume Forecast by End Users
11.10.1. Automotive & Transportation
11.10.2. Marine
11.10.3. Electric & Electronics
11.10.4. Pipe & Tanks
11.10.5. Wind Energy
11.11. Basis Point Share (BPS) Analysis by End Users
11.12. Y-o-Y Growth Projections by End Users
11.13. Market Attractiveness/Growth Potential Analysis
11.13.1. By Country
11.13.2. By Product Type
11.13.3. By Application
11.14. Europe 1,6-Hexanediol Demand Share Forecast, 2019-2026
12. Asia Pacific 1,6-Hexanediol Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific 1,6-Hexanediol Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific 1,6-Hexanediol Market Size and Volume Forecast by Types
12.4.1. 99% Purity Grade
12.4.2. 99.7% Purity Grade
12.4.3. Others
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Asia Pacific 1,6-Hexanediol Market Size and Volume Forecast by Applications
12.7.1. Coatings
12.7.2. Polyurethanes
12.7.3. Acrylates
12.7.4. Polyester Resin
12.7.5. Adhesives
12.7.6. Plasticizers
12.7.7. Others
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Asia Pacific 1,6-Hexanediol Market Size and Volume Forecast by End Users
12.10.1. Automotive & Transportation
12.10.2. Marine
12.10.3. Electric & Electronics
12.10.4. Pipe & Tanks
12.10.5. Wind Energy
12.11. Basis Point Share (BPS) Analysis by End Users
12.12. Y-o-Y Growth Projections by End Users
12.13. Market Attractiveness/Growth Potential Analysis
12.13.1. By Country
12.13.2. By Product Type
12.13.3. By Application
12.14. Asia Pacific 1,6-Hexanediol Demand Share Forecast, 2019-2026
13. Middle East & Africa 1,6-Hexanediol Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Middle East & Africa Average Pricing Analysis
13.2. Middle East & Africa 1,6-Hexanediol Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa 1,6-Hexanediol Market Size and Volume Forecast by Types
13.4.1. 99% Purity Grade
13.4.2. 99.7% Purity Grade
13.4.3. Others
13.5. Basis Point Share (BPS) Analysis by Types
13.6. Y-o-Y Growth Projections by Types
13.7. Middle East & Africa 1,6-Hexanediol Market Size and Volume Forecast by Applications
13.7.1. Coatings
13.7.2. Polyurethanes
13.7.3. Acrylates
13.7.4. Polyester Resin
13.7.5. Adhesives
13.7.6. Plasticizers
13.7.7. Others
13.8. Basis Point Share (BPS) Analysis by Applications
13.9. Y-o-Y Growth Projections by Applications
13.10. Middle East & Africa 1,6-Hexanediol Market Size and Volume Forecast by End Users
13.10.1. Automotive & Transportation
13.10.2. Marine
13.10.3. Electric & Electronics
13.10.4. Pipe & Tanks
13.10.5. Wind Energy
13.11. Basis Point Share (BPS) Analysis by End Users
13.12. Y-o-Y Growth Projections by End Users
13.13. Market Attractiveness/Growth Potential Analysis
13.13.1. By Country
13.13.2. By Product Type
13.13.3. By Application
13.14. Middle East & Africa 1,6-Hexanediol Demand Share Forecast, 2019-2026
14. Competition Landscape
14.1. Global 1,6-Hexanediol Market: Market Share Analysis
14.2. 1,6-Hexanediol Distributors and Customers
14.3. 1,6-Hexanediol Market: Competitive Dashboard
14.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
14.4.1. BASF SE
14.4.2. Hefei TNJ Chemical Industry Co., Ltd.
14.4.3. Henan Tianfu Chemical Co., Ltd.
14.4.4. LANXESS
14.4.5. Petroliam Nasional Berhad (PETRONAS)
14.4.6. Prasol Chemicals Limited
14.4.7. UBE Corporation
14.4.8. YUANLI SCIENCE AND TECHNOLOGY
14.4.9. Zhejiang Lishui Nanming Chemical Co., Ltd.
14.4.10. Zhengzhou Meiya Chemical Products Co., Ltd.
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