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Hexamethylenediamine Market Growth Analysis towards 2025

12-29-2017 07:07 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparecny Market Research

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Hexamethylenediamine Market Growth Analysis towards 2025

Hexamethylenediamine (HMDA) is an organic compound having chemical formula H2N (CH2)6NH2. It is a colorless solid with strong amine odor similar to that of pipiridine. It is synthesized from adiponitrile and has numerous applications in chemical industry. Almost 90% of the produced HMDA is utilized in the production of nylon 66. The non-nylon applications of HMDA includes high performance polyurethanes paints, epoxy curing agents, petrochemicals additives and coatings. It also has applications as corrosion and scale inhibitors in water treatment plants. HMDA is not only used for the production of nylon 66, but also used along with dicarboxylic acids for the production of nylon 69, nylon 610, and nylon 612. Over the years the demand for bio based HMDA has increased for the production of nylon 66 owing to the green revolution. The market for HMDA can be segmented on the basis of application into nylon synthesis, coatings, biocides, and others. Based on end user, the market for HMDA has been divided in to fiber, textile, automotive, plastics, and others.

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The HMDA demand is recovering from the 2008 downturn, and is anticipated to witness significant growth during the forecast period. The major consumption areas of HMDA is the production of nylon 66 resins and fiber. Hence, increment in the demand for nylon 66 will have a positive impact on the HMDA market. As nylon 66 is becoming substitutive for numerous applications, especially in automotive industry, where nylon substituted various metals in number of applications. A significant increase in the demand for bio based nylon resins has increased over the past few years, hence companies are focusing on creating bio based production technology for the production of HMDA. The only differentiating factor for bio based production of HMDA is raw material prices, cost effectiveness and the production process.

In terms of application, nylon synthesis segment held significant share of the market in 2016 and is anticipated to witness significant growth during the forecast period. The demand of this segment is increasing owing to the growing demand of nylon 66 by various end user industries. Nylon 66 is used to manufacture automotive parts and other components including rocker covers, airbags, radiator end tanks, oil pans, air intake manifolds, and electro insulating elements. Thus growth of nylon 66 will inadvertently boost the demand for HMDA market. In terms of end use industry, automotive segment is anticipated to witness substantial growth over the years. Automotive segment is followed by textile segment and plastics segment.

Geographically, North America held prominent share of the HMDA market in 2016, and is anticipated to continue this trend during the forecast period. As this region is one of the major consumers of HMDA, which is primarily used in the production of nylon 66. North America was followed by Europe in 2016. Increasing demand for fiber continues to propel the growth of HMDA in this region. The market for HMDA in Asia Pacific is expected to register strong growth owing to the growth of automotive and other manufacturing industries. Major manufacturers of nylon are planning to shift their manufacturing bases in growing economies of Asia Pacific such as India, China, and Taiwan owing to low cost labor, easy availability of raw material, and cheap production cost.

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Key players operating the market for HMDA include BASF SE, Solvay SA, Asahi Kasei Corporation, Evonik Industries AG, and Ashland Global Holdings, Inc.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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