29-Dec-2020 | Facts and Factors
Findings from Facts and Factors report “Hexanediol HDO Market By Application (Polyurethane, Plasticizers, Coatings, Polyester Resins, Acrylates, Adhesives, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”. states that the global Hexanediol HDO Market in 2019 was approximately USD 900 million. The market is expected to grow at a CAGR of 8.2% and is anticipated to reach around USD 2,041 million by 2026.
The Global Hexanediol HDO Market Is Powered By Growth of Coatings Application From Various End-Use Industries
The need for hexanediol has grown dramatically over the past few years due to the high usage of hexanediol in the APAC region. Also, hexanediol is widely used in applications such as acrylates, coatings, PU, polyester resins by various end-use industries due to which it is growing at a higher pace. Since PU is one of the largest end-user for hexanediol, it is widely used as a chain extender in the resin and PU application segments. It changes the PU into a highly modified PU and also with high corrosion resistance. It also has various other properties such as high heat resistance, low glass transition temperature, high mechanical strength among others.
Browse the full “Hexanediol HDO Market By Application (Polyurethane, Plasticizers, Coatings, Polyester Resins, Acrylates, Adhesives, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/hexanediol-hdo-market
There are various players in the market. BASF SE is one of the leading companies of chemical which offer a huge range of intermediate and chemical solutions. The company’s business segments include functional materials and solutions, chemicals, agricultural solutions, performance products, and oil & gas. It offers hexanediol by its chemical business segment under the monomers division. The company operates in North America, Europe, South America, APAC, and The Middle East regions. Also, another player named Lanxess, which is a specialty chemical company that manufactures, develops, and markets chemical intermediates globally. Their business segments include specialty additives, engineering materials, advanced intermediaries,marlanxeo. The company provides hexanediol through its engineering material segments. Moreover, the company operates at 70 production sites in 25 companies.
Top Market Players
Some of the leading and top companies in the hexanediol HDO market contain BASF, Fushun Tianfu Chemicals Corp. Ltd., Lanxess, UBE Industries, Lishui Nanming Corp. Ltd, Prasol Chemical Ltd, Hefei TNJ Chemical Industry Co., Zhengzhou Meiya Chemical Products Co., Ltd, Perstorp Holding AB, Perstorp Ab, Technolog Co., among others.
The market for hexanediol is expected to observe a high growth in developing regions such as APAC owing to the rise in new players and also the presence of Chinese manufacturers in the hexanediol market which is a major factor that is boosting the market for hexanediol in the region. Also, the PU sector will grow in the APAC region because of the rise in cost advantage, better manufacturing facilities, research and development, low-cost workforce, and government regulations which will also propel the consumption rate of hexanediol. One of the major reasons for the growth of PU is due to the demand for its sub-applications like coatings, foams, elastomers globally. Moreover, the rise in demand for industrial and protective coatings will propel the growth of hexanediol market over the forecast period. Industrial coatings are widely used for aesthetics and protective quality which is used in industrial applications such as infrastructure, automotive, and steel. Other use of hexanediol includes the manufacturing of adhesives, polymeric thickeners, acrylics, polyesters, sizing agents, pesticides, polyvinyl chloride plasticizers, inks, and dyestuffs. Additionally, investments in research and development in various applications will create lucrative opportunities for the hexanediol market globally.
The market for hexanediol HDO is segmented on the basis of application, and region. Based on application, the market is bifurcated into polyurethane, plasticizers, coatings, polyester resins, acrylates, adhesives, and others. In terms of geography, the APAC region is expected to dominate the market owing to the rise in demand from China, Japan, South Korea, India regions. Among these China is expected to have the highest CAGR due to the rise in the production of PU and coatings in the construction sector. Moreover, the construction sector will witness high growth in the coming years due to the high investments in new infrastructure developments, renovation of residential buildings, new house projects especially in China, Brazil, the U.S., India.
The taxonomy of the hexanediol HDO market by its scope and segmentation is as follows:
Global Hexanediol HDO Market: Application Analysis
Global Hexanediol HDO Market: Regional Segmentation Analysis
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