Global 1,6-Hexanediol Market Is Expected to Reach USD 1,848.7 Million In 2026

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The global 1,6-hexanediol market was valued at USD 955.5 million in 2018 and is expected to reach USD 1,848.7 million in 2026, growing at a CAGR of 8.5% during the forecast period.

The 1,6-hexanediol is an organic compound and it is a colorless water-soluble solid. It is an inexpensive chemical and is commercially available for the adoption of various industrial use. It is adopted for the manufacturing of industrial polyester and polyurethane. Moreover, it has low toxicity and low flammability, which is generally considered as safe. It is also used to improve the hardness and flexibility of polyesters. The growth of the 1,6-hexanediol market is primarily driven by the increase in the use of 1,6-Hexanediol in polyurethanes across emerging nations and an increase in the research and development from leading players.

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Moreover, the increase in advancement in technologies and development of bio-based raw materials are expected to create opportunities for the manufacturers in the global market over the forecast period. However, the storage and transportation of 1,6-Hexanediol and wide availability of substitute are expected to hamper the growth of the global 1,6-hexanediol market in the coming years. The polyurethanes segment expected to dominate the market throughout the forecast period Based on the application, the global 1,6-hexanediol market has been segmented into polyurethanes, acrylates, coatings, polyester resin, adhesives, plasticizers, and others.
The polyurethanes application segment accounted for approximately 35.2% of the share in the global 1,6-hexanediol market in 2018 owing to an increase in demand for thermoplastic polyurethanes elastomers, coatings, and foams. It infuses different properties in polyurethanes, such as high mechanical strength, low glass transition temperature, and high heat resistance. It generally changes the polyurethane into an improved polyurethane with substantially high corrosion resistance.

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While coatings accounted highest CAGR of around 10.1% in the global 1,6-hexanediol market during the forecast period owing to the high affinity of 1,6 hexanediol towards the water. This expected to increase its adoption in paints, covering and acrylics, glues, and plasticizers among others. These benefits are expected to enhance the demand and sales for coatings across the developed and developing countries in the global market.
Europe to dominate the 1,6-hexanediol market throughout the forecast period Europe accounted for nearly 37.1% share of the global 1,6-hexanediol market in 2018 and is expected to dominate the market throughout the forecast period followed by North America and Asia-Pacific. The growth in Europe is primarily dominated due to increasing demand for polyurethane in automobile applications. Also, the high presence of leading companies such as BASF SE, Perstorp AB, and others further increases the demand for the product in the region.

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These industry participants are heavily investing to expand their presence in the emerging market by launching cost-effective 1,6-hexanediol based products.Asia-Pacific is expected to hold the highest CAGR in the global market during the forecast period. China from Asia-Pacific witnesses the highest consumption of 1,6-hexanediol owing to the increasing demand for PU, coatings, and acrylates from end-user industries. India is expected to account for the higher growth rates in the forecast period. This expected to enhance the market growth in the global 1,6-hexanediol market during the forecast for Asia-Pacific.

Company Profiles and Competitive Intelligence:

The major manufactures in the global 1,6-hexanediol market are
·        BASF SE,
·        Prasol Chemicals Pvt. Ltd.,
·        Fushun Tianfu Chemicals Co., Ltd.,
·        Perstorp AB,
·        Linshui Nanming Chemical Co., Ltd.,
·        Ube Industries, Ltd.,
·        Shandong Yuanli Science and Technology Co., Ltd,
·        Zhengzhou Meiya Chemical Products Co., Ltd,
·        Lanxess Aktiengesellschaft,
·        Hefei TNJ Chemical Industry Co., Ltd.
·        among others.

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