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“The global hexamethylenediamine market is projected to grow at a CAGR of 5.0% from 2017 to 2022, in terms of value”
The hexamethylenediamine 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% during the forecast period. The demand for hexamethylenediamine is mainly driven by the growing consumption of nylon 66 in different end-use industries. The demand for nylon is expected to be quite significant in the automotive industry owing to the strong growth of the automotive industry in emerging markets, such as China, India, and Brazil. The growth of the automotive industry is expected to steer the demand for hexamethylenediamine. Lack of institutional arrangements for the consumption of hexamethylenediamine in emerging economies acts as a key restraint on the growth of the global hexamethylenediamine market.
“Nylon synthesis is the largest application segment of the global hexamethylenediamine market”
By application, the nylon synthesis segment is anticipated to account for the largest share of the global hexamethylenediamine market in 2017. This large share is mainly attributed to the growth of the nylon market across end-use industries, such as automotive and textile. The growth of this segment is projected to drive the demand for hexamethylenediamine in the coming years.
“Automotive is the largest end-use industry segment of the global hexamethylenediamine market”
The automotive industry is the largest end-use industry segment of the global hexamethylenediamine market. Hexamethylenediamine is majorly used in the synthesis of nylon 66, which is widely used in the automotive industry for making 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.
“North America is projected to lead the global hexamethylenediamine market during the forecast period”
By region, North America is anticipated to lead the global hexamethylenediamine market during the forecast period. The growth of the North America hexamethylenediamine market is mainly driven by the growth of the region’s automotive industry. There is an increasing demand for nylon-based products and components in the automotive industry. Hence, the growth of the automotive industry is, in turn, anticipated to drive the hexamethylenediamine market in the coming years. The hexamethylenediamine market in the Asia-Pacific region is expected to grow at the highest CAGR from 2017 to 2022. This growth is primarily attributed to the high demand for hexamethylenediamine from countries like China, Japan, India, Taiwan, and South Korea in the Asia-Pacific region.
Profile break-up of primary participants for the report:
- By Company Type: Tier 1 – 30%, Tier 2 – 40% and Tier 3 – 30%
- By Designation: C Level – 51%, D Level – 28%, and Others – 21%
- By Region: Asia-Pacific – 36%, North America – 29%, Europe – 21%, Middle East & Africa- 7%, and South America – 7%
Furthermore, as a part of qualitative analysis, the research provides a comprehensive review of market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by varied market players, such as 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).
The report defines, segments, and projects the global hexamethylenediamine market on the basis of application, end-use industry, and region. It provides detailed information regarding major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges. It strategically profiles key players and comprehensively analyzes their market share and core competencies as well as tracks and analyzes competitive developments, such as partnerships, contracts, joint ventures, mergers & acquisitions, expansions, new product launches, and research & development activities, in the market.
Reasons To Buy the report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of revenue numbers of the global hexamethylenediamine market and its subsegments. This report will also help stakeholders better understand the competitor landscape, gain more insights to better position their businesses, and make suitable go-to-market strategies. The report will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.