PUNE, India, June 21, 2017 /PRNewswire/ --
The report "Hexamethylenediamine Market by Application (Nylon Synthesis, Curing Agents, Lubricants, Biocides, Coatings Intermediate, Adhesives), End-Use Industry (Automotive, Textile, Paints & Coatings, Petrochemical) - Global Forecast to 2022", published by MarketsandMarkets™, the market is estimated to be USD 5.35 Billion in 2017 and is projected to reach USD 6.82 Billion by 2022, at a CAGR of 5.0% from 2017 to 2022.
Browse 64 market data tables and 44 figures spread through 144 pages and in-depth TOC on "Hexamethylenediamine Market - Global Forecast to 2022"
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The demand for hexamethylenediamine is mainly driven by the growing consumption of nylon 66 in different end-use industries, such as automotive and textile. The automotive industry is shifting from traditional materials toward engineering plastics to attain better productivity and efficiency of components. The growing use of nylon 66 products and components in the automotive industry is anticipated to drive the market for hexamethylenediamine in the coming years.
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Nylon synthesis is the fastest-growing application segment of the hexamethylenediamine market
Based on application, the nylon synthesis segment is anticipated to grow at the highest CAGR during the forecast period. Nylon has superior mechanical property, rigidity, and chemical & heat resistivity and is widely used as fiber in textiles, carpets, and molded parts. Nylon is used to manufacture various products & components in the automotive and electrical & electronics end-use industries. The growing usage of nylon across various industries, such as automotive, textile, consumer goods, and electrical & electronics is anticipated to boost the hexamethylenediamine market across regions.
Automotive is the largest end-use industry segment of the hexamethylenediamine market
Hexamethylenediamine is majorly used in the synthesis of nylon 66, which is widely used in the automotive industry to manufacture various products and components, such as connectors & housings, under-the-hood components, wheel well, and lighting components, such as headlamp structural housings, headlamps & fog lamps, and reflectors & lighting sockets, among others. Nylon is extensively used in automotive products and components as it offers excellent chemical and physical properties, along with design flexibility, as compared to metal. The growing automotive industry is anticipated to drive the nylon market, which will further drive the hexamethylenediamine demand in the coming years.
Asia-Pacific is the fastest-growing regional segment of the hexamethylenediamine market
The Asia-Pacific hexamethylenediamine market is projected to grow at the highest CAGR during the forecast period. China, India, Japan, Taiwan, and South Korea are the key countries contributing to the high demand of hexamethylenediamine in the Asia-Pacific region. Increasing demand for hexamethylenediamine from the nylon 66 application market is the major growth driver for the hexamethylenediamine market in this region.
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Some of the key players in the Hexamethylenediamine Market are BASF SE (Germany), E. I. du Pont de Nemours (DuPont) (US), Asahi Kasei Corporation (Japan), Toray Industries, Inc. (Japan), Merck KGaA (Germany), Evonik Industries AG (Germany), Solvay S.A. (Belgium), Ashland Global Holdings, Inc. (US), Invista (US), Ascend Performance Materials (US), Rennovia, Inc. (US), and Compass Chemical (US).
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