REPORT HIGHLIGHT
Hexamethylenediamine Market size was valued at USD 8,890.3 Million in 2022, expanding at a CAGR of 5.5% from 2023 to 2030.
The acronym HMDA refers to hexamethylenediamine, an organic molecule with the formula H2N (CH2)6NH2. It is a solid that is colorless and smells strongly like amine. Hexamethylene hydrocarbon chain with an amine functional group is what makes up HMDA. It can be utilized as a curing agent, corrosion inhibitor, and chemical intermediate.
Hexamethylenediamine Market - Market Dynamics:
- Growing demand for HMDA for lubricant production drives market growth
- The growing demand for hexamethylenediamine in the production of lubricants is one of the main drivers of the hexamethylenediamine market's rise. The need for lubricants such as chainsaw oil, engine oil, grease, and other lubricants has increased, which has led to an expansion of the hexamethylenediamine market. The market for engine oils, which are largely required to lubricate internal combustion engines (ICEs) to ensure that powertrains function smoothly, is also crucial and consistently growing year after year. Engine oil consumption in emerging countries like India surpasses 2.5 billion liters yearly and is rising by 2.0% to 2.5% annually when the aftermarket is taken into account. Grease compositions protect against risks such as fretting corrosion, false brinelling at -55 degrees Fahrenheit, and moisture contamination. As a result, market growth is anticipated throughout the projection period.
Hexamethylenediamine Market - Key Insights:
- As per the analysis shared by our research analyst, the global Hexamethylenediamine market is estimated to grow annually at a CAGR of around 5.5% over the forecast period (2023-2030).
- The Hexamethylenediamine industry is projected to grow at a significant rate due to the rising demand for HMDA in lubricants.
- Based on the application, the Nylon Synthesis segment is expected to dominate the market during the forecast period.
- Based on region, the Asia Pacific is expected to dominate the market during the forecast period.
Hexamethylenediamine Market- Segmentation Analysis:
- The Global Hexamethylenediamine Market is segmented based on application, end-user industry, and Region.
- Based on the application, the global market is segmented into Nylon Synthesis, Curing Agents, Lubricants, Biocides, Coatings Intermediate, Adhesives, Water Treatment Chemical and Others. The Nylon Synthesis segment is expected to dominate the market during the forecast period. Hexamethylenediamine is primarily used in the manufacture of nylon-6,6. The repeating units of the nylon-6,6 polymer chain are created by the reaction of hexamethylenediamine with adipic acid. In the textile sector, nylon-6,6 is frequently used to make textiles, yarns, and fibers. The production of nylon fibers, which are used in a variety of textile products including clothing, home furnishings, and industrial textiles, depends heavily on hexamethylenediamine. Additionally, due to its great strength, heat resistance, and longevity, Nylon-6,6 is widely used in the automobile sector. This is expected to drive the segment expansion over the forecast period.
Hexamethylenediamine Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. The Asia Pacific is expected to dominate the market during the forecast period. The growth in the region is attributed to the increasing investments, technology advancements, and expansion by various end-user industries like textiles, plastics and others. The major nations contributing to the high demand for hexamethylenediamine in the Asia-Pacific area are China, India, Japan, and South Korea. With rising investments and official assistance from the 13th Five-Year Plan, China's textile sector is flourishing. With an investment of USD 8 billion, the Chinese government is positioning Xinjiang as a hub for the production of textiles and clothing. By 2030, China's northwest is anticipated to become the nation's main center for textile production. Thus, this is expected to drive the market growth over the forecast period.
Hexamethylenediamine Market- Competitive Landscape:
To remain competitive in the market the key players adopted various strategies including product launches, acquisitions, partnerships, agreements and others. The key players are Alfa Aesar, Lanxess AG, Junsei Chemical Co. Ltd., Ashland Global Holdings Inc., Ascend Performance Materials LLC, Asahi Kasei Corporation, Dow Inc., Compass Chemical International LLC, Chengdu Dacheng Chemical Co. Ltd., DuPont de Nemours Inc., INVISTA, BASF SE, Merck KgaA, Evonik Industries AG, Daejungche Chemicals & Metals Co. Ltd., Meryer (Shanghai) Chemical Technology Co. Ltd., Radici Partecipazioni SpA, Shenma Industrial Co. Ltd., Rennovia Inc and Genomatica Inc.
Recent Developments:
In January 2022, in France's Chalampe, BASF decided to construct a new hexamethylene diamine (HMD) factory. The new facility will let BASF produce 260,000 metric tons of HMD annually. In 2024, production is anticipated to begin. In addition, starting in 2022, BASF will double the amount of polyamide 6.6 produced in Freiburg, Germany.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL HEXAMETHYLENEDIAMINE MARKET KEY PLAYERS
- Alfa Aesar
- Lanxess AG
- Junsei Chemical Co. Ltd.
- Ashland Global Holdings Inc.
- Ascend Performance Materials LLC
- Asahi Kasei Corporation
- Dow Inc.
- Compass Chemical International LLC
- Chengdu Dacheng Chemical Co. Ltd.
- DuPont de Nemours Inc.
- INVISTA
- BASF SE
- Merck KgaA
- Evonik Industries AG
- Daejungche Chemicals & Metals Co. Ltd.
- Meryer (Shanghai) Chemical Technology Co. Ltd.
- Radici Partecipazioni SpA
- Shenma Industrial Co. Ltd.
- Rennovia Inc.
- Genomatica Inc.
GLOBAL HEXAMETHYLENEDIAMINE MARKET, BY APPLICATION
- Nylon Synthesis
- Curing Agents
- Lubricants
- Biocides
- Coatings Intermediate
- Adhesives
- Water Treatment Chemical
- Others
GLOBAL HEXAMETHYLENEDIAMINE MARKET, BY END-USER INDUSTRY
- Automotive
- Textile
- Paints & Coatings
- Petrochemical
- Others
GLOBAL HEXAMETHYLENEDIAMINE MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA