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The hexamethylenediamine market share is expected to increase by USD 2.72 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.78%.
This hexamethylenediamine market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers hexamethylenediamine market segmentation by application (nylon synthesis, curing agents, biocides, and others) and geography (North America, APAC, Europe, South America, and Middle East and Africa). The hexamethylenediamine market report also offers information on several market vendors, including AB Enterprises, Asahi Kasei Corp., Ascend Performance Materials Operations LLC, Ashland Global Holdings Inc., BASF SE, Covestro AG, Daejungche Chemicals and Metals Co. Ltd., DuPont de Nemours Inc., Evonik Industries AG, Invista, Junsei Chemical Co. Ltd., LANXESS AG, Merck KGaA, Radici Partecipazioni Spa, Solvay SA, Thermo Fisher Scientific Inc., and Toray Industries Inc. among others.
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The increasing demand for recycled plastics is notably driving the hexamethylenediamine market growth, although factors such as stringent regulations and policies may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hexamethylenediamine industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Hexamethylenediamine Market Driver
One of the key factors driving growth in the hexamethylenediamine market is the increasing demand for recycled plastics. Many industries are adopting green and sustainable solutions, owing to increasing awareness about healthy living. This has led to a rise in the demand for recycled plastics, which is driving the growth of commodity chemicals, such as HMDA and polymer additives in the US. The packaging industry is shifting toward the use of recycled plastics in large volumes, with a growing number of consumers conscious of environmental protection norms. Recycled plastics offer new possibilities for reducing waste, lowering energy consumption and carbon emissions, and decreasing water consumption to achieve high quality and performance. Recycled plastics are used to increase shelf life and offer product protection. Therefore, an increase in the adoption of green options for various applications has augmented the demand for recycled plastics, which has raised the demand for plastic additives at a significant pace. This, in turn, will drive the growth of the global HMDA market.
Key Hexamethylenediamine Market Trend
The growing demand for bio-based chemicals is a hexamethylenediamine market trend that is expected to have positive impact in the coming years. Bio-based chemicals, such as bio-based lubricants and biodegradable plastics, have emerged as alternatives to petroleum-based lubricants and plastics. Environment-friendly lubricants help reduce VOCs and toxic gases emitted from vehicles, thereby maintaining the ecological balance of the atmosphere. Canada, the US, and Germany are concentrating on the development of environment-friendly bio-based lubricants. Green, sustainable lubricants and other energy-saving resin systems are increasingly becoming popular in North American countries, such as the US, Canada, and Mexico. The growing need for waste management has given impetus to the bio-based resins industry.
Key Hexamethylenediamine Market Challenge
The stringent regulations and policies will be a major challenge for the hexamethylenediamine market during the forecast period. Stringent regulations by the US EPA and the Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) on the volatile organic compound (VOC) content of commodity chemicals, such as paints and coatings, adhesives, and sealants, are significant challenges to the growth of the global commodity chemicals market. In August 2013, the Massachusetts Department of Environmental Protection (MassDEP) imposed strict guidelines on the VOC content of adhesives and sealants. Regulation 310 CMR 7.18(30) in the US provides a VOC limit for adhesives, such as commodity chemicals for industrial and commercial applications. Commodity chemicals vendors should comply with these standards to meet VOC requirements. In Europe, the regulation EU No. 10/2011 regulates plastic materials and articles, such as adhesives in indirect food additives. Stringent regulations and policies on the use of adhesives are likely to hinder the growth of the global HMDA market.
This hexamethylenediamine market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global hexamethylenediamine (HMDA) market as a part of the global commodity chemicals market within the global chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the hexamethylenediamine market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the hexamethylenediamine market encompasses successful business strategies deployed by the key vendors. The hexamethylenediamine market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The hexamethylenediamine market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the hexamethylenediamine market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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45% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for hexamethylenediamine in APAC. Market growth in this region will be faster than the growth of the market in other regions.
North America is another major region showing market growth. The rapid industrialization and growth in the wastewater treatment sectors will facilitate the hexamethylenediamine market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The World Health Organization (WHO) declared the COVID-19 outbreak a global pandemic in March 2020, and it has affected about 214 countries to date. Almost all countries around the globe witnessed a significant contraction in economic growth in 2020, extending up to early 2021. As a mitigation to COVID-19 spread, mass vaccination drives and other initiatives were conducted by various governments in the region in early 2021. This resulted in the normalcy in the manufacturing of these HMDA products and resulted in the shrinking of the supply-demand imbalance.
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The hexamethylenediamine market share growth in the nylon synthesis segment will be significant during the forecast period. The increasing production of nylon 66 for use in the clothing industry will drive the demand for HMDA during the forecast period. The properties of nylon 66 include high melting point, lower water absorption rate, wear resistance, resistance to high energy radiation, and chemical resistance to acids.
This report provides an accurate prediction of the contribution of all the segments to the growth of the hexamethylenediamine market size and actionable market insights on the post-COVID-19 impact on each segment.
Hexamethylenediamine Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.78% |
Market growth 2022-2026 |
$ 2.72 million |
Market structure |
Fragmented |
YoY growth (%) |
5.32 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 45% |
Key consumer countries |
US, Mexico, China, Japan, India, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AB Enterprises, Asahi Kasei Corp., Ascend Performance Materials Operations LLC, Ashland Global Holdings Inc., BASF SE, Covestro AG, Daejungche Chemicals and Metals Co. Ltd., DuPont de Nemours Inc., Evonik Industries AG, Invista, Junsei Chemical Co. Ltd., LANXESS AG, Merck KGaA, Radici Partecipazioni Spa, Solvay SA, Thermo Fisher Scientific Inc., and Toray Industries Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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