The global 1,6 hexanediol market is expected to show appreciable growth over the next six years, on account of the rising global demand for polyurethanes (PU) from major end-use industries such as infrastructure and furniture. Infrastructure and furniture applications account for approximately half of the total PU market demand. Rigid foams manufactured from PU are extensively used in infrastructure as insulators, sealant, and flooring materials. PU manufactured flexible foams are extensively used in furniture applications such as carpet & seat cushions and mattress padding. These factors in turn are expected to increase 1, 6 Hexanediol demand for manufacturing PU. 1, 6 Hexanediol based PU offers high hydrolysis resistance, low glass transition temperature, and improved mechanical strength.
Increasing demand for protective and industrial coatings is expected to drive 1,6 hexanediol market for the forecast period. 1, 6 hexanediol based coatings exhibit surface hardness & flexibility and also offer adhesion to various substrates. Industrial coatings are extensively used for protective & aesthetics quality used in industrial applications such as automotive, infrastructure, and steel. Other applications of 1, 6 Hexanediol include in the manufacturing of acrylics, adhesives, polyesters, polymeric thickeners, polyvinyl chloride plasticizers, sizing agents, dyestuffs, inks, and pesticides. Investments in research for product development in niche applications are expected to provide new opportunities in 1,6 hexanediol market participants. New 1, 6 hexanediol applications such as ultraviolet (UV) curable resins, alkyd & epoxy resins, and potential are expected to provide growth opportunities. 1, 6 hexanediol is on the developmental stage for being a possible nylon-6 precursor.
Europe dominated 1,6 hexanediol market for the past few years owing to increasing demand for PU in automobile applications. Major demand is expected from emerging economies of Asia Pacific. China witnessed the highest consumption of 1,6 hexanediol owing to the increasing demand for PU, coatings, and acrylates from the end-user industry. India is expected to witness higher growth rates over the forecast period. Latin American countries such as Brazil and Mexico are expected to witness higher growth rates over the next six years owing to an increase in infrastructural spending and growth of per capita middle-class disposable income. Major operating companies strictly adhere to governmental environmental norms and compete on the basis of product innovation. Industry participants are costly trying to increase their presence in the emerging market by introducing cost-effective 1, 6hexanediol based products. Key market players include BASF, Lanxess, Ube Industries, Lishui Nanming Corp. Ltd, Perstorp Ab, and Fushun Tianfu Chemicals Corp. Ltd.
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The global COVID-19 pandemic has led to a sudden pause to manufacturing activities across the globe, affecting the demand for plastics and also production & processing of them. The most critically impacted end-use segments of the plastics industry include automotive & transportation, consumer goods, industrial equipment, construction, and electronics. The report will account for Covid19 as a key market contributor.