The global sales of 18 hexanediol increased from 98665 tons in 2016 to 108842 tons in 2020, at a CAGR of 2.48%. In 2020, the global 18 hexanediol market is led by Europe said by tmrnewscheck official.
China is the second largest region wise market. The global 18 Hexanediol market was valued at USD 341.24 million in 2020 and is expected to reach USD 585.58 million by the end of 2027, growing at a CAGR of 4.25% between 2021 and 2027.
Hexanediol industry is an oligopoly, that is, a market with a very limited number of producers, a result of the high market entry barriers of high capital costs and the time) consuming and expensive process of product specification for final usage. Currently.
BASF, Ube Industries, Lanxess and Shandong Yuanli Science and Technology are the leaders of 1,6 hexanediol industry. BASF is a global leader. In 2020, the production of BASF was 44130 tons, and the company held a sales share of 40.55%.
1,6 Hexanediol is a valuable intermediate product for the chemical industry. It finds applications in a variety of polymeric systems and is also used in the synthesis of specialty chemicals.
The demand for 1,6 Hexanediol has improved in recent years due to its increased consumption in the Asia Pacific region. In addition, the increasing use of 1,6 Hexanediol in varied applications, such as coatings, PU, acrylates, and polyester resins, among others, has further contributed to the growth of this industry.
As a result, demand for 1,6 Hexanediol largely follows the patterns of the leading world economies. 1,6 Hexanediol is mainly used for coating, polyurethane and polyester plasticizers.
The industry has fewer manufacturers and higher technical barriers. However, the downstream consumer groups of 1,6 Hexanediol are numerous. Trade flows in the 18 Hexanediol industry are relatively frequent.
The APAC 1,6-hexanediol market is projected to register the highest CAGR during the forecast period, due to the rising demand for 1,6-hexanediol from Japan, India, China, and South Korea.
China is expected to lead the demand for 1,6-hexanediol due to the increase in the production of polyurethane and coatings due to an increase in construction activities.
The construction industry is expected to witness significant growth in the next five years, owing to huge investments in new infrastructure developments, new housing projects, and renovation/repaint of residential and commercial buildings in the US, China, India, and Brazil.
The demand for coatings in the APAC region has increased significantly, and this trend is expected to continue in the near future. The coatings industry is moving towards consolidation as top coating players are acquiring other local and foreign players and said by mail email@example.com officials.
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