Global 1,2-Hexanediol Market - 2024-2031

Overview

Global 1,2-Hexanediol Market reached US$ 102.5 million in 2023 and is expected to reach US$ 157.3 million by 2031, growing with a CAGR of 5.5% during the forecast period 2024-2031.

The market is witnessing significant growth owing to its diverse applications across industries such as cosmetics, paints and coatings and pharmaceuticals. The escalating demand for personal care products, coupled with increasing investments in pharmaceutical and chemical sectors, serves as primary growth drivers.

To encourage the development of the chemical industry, the Chinese government has put in place several laws and programs, including as R&D and infrastructural investments. The regulations seek to guarantee environmental compliance, stimulate local manufacturing, draw in foreign investment and foster innovation. Through the establishment of a business-friendly atmosphere, the government has enabled the growth of the 1,2-hexanediol market and established China as a major participant in the global chemical sector. Therefore, China is contributing significantly to the growth of the global market capturing nearly 1/4th of the market share.

Dynamics

Growing Demand in Personal Care Products

1,2-hexanediol also has moisturizing qualities, making it appropriate for use in cosmetics formulations. It hydrates the skin, improves texture and boosts the effectiveness of other moisturizing substances. As people become more conscious of their skincare and seek products that provide moisture and nourishment, the need for 1,2-hexanediol in moisturizers, creams and serums grows.

The sustainable variant, derived from renewable sources, not only aligns with eco-friendly formulations but also offers compatibility with all skin types, driving its adoption in the cosmetics market. The versatility of Hydrolite 6 green enables its incorporation into both conventional and green formulations, catering to diverse consumer and manufacturer needs. With the beauty market generating approximately US$ 430 billion in revenue in 2022 and estimated to surpass US$ 600 billion by 2031, these trends signify the expanding role of 1,2-Hexanediol in driving innovation and market growth while addressing evolving consumer preferences and sustainability concerns.

Increasing Applications in Pharmaceuticals

1,2-hexanediol is employs as a stabilizer in pharmaceutical formulations to assist maintain the chemical stability and shelf life of drugs. It inhibits degradation processes, oxidation and microbiological development, ensuring the stability and efficacy of medicinal formulations over time. 1,2-hexanediol's stabilizing characteristics make it an important element in liquid and semi-solid formulations such as suspensions, emulsions and creams, which drives its use in pharmaceutical applications.

It allows for the encapsulation and controlled release of pharmaceuticals, resulting in targeted delivery, prolonged release and enhanced therapeutic effects. The potential of 1,2-hexanediol to change drug release profiles and improve drug stability leads to its increased application in sophisticated drug delivery systems, boosting market growth.

Regulatory Constraints

To protect consumers and the environment, regulatory bodies established severe safety and toxicity limits on compounds such as 1,2-hexanediol. Compliance with these regulations necessitates thorough testing, documentation and adherence to predetermined safety standards. If firms fail to satisfy these standards, they may face fines, penalties or even product recalls, disrupting production and supply networks and impeding market growth.

Chemical substances, such as 1,2-hexanediol, may be subject to registration and approval processes in different countries to determine its safety, environmental impact and intended application. Obtaining regulatory clearances can be a time-consuming and costly procedure, since manufacturers must provide extensive data on the chemical toxicity and potential hazards.

Segment Analysis

The global 1,2-hexanediol market is segmented based on type, source, end-user and region.

Rising Demand for High-Quality Pharmaceutical Ingredients

1,2-hexanediol is used as a pharmaceutical component in many medication compositions. It performs several functions, including solvent, preservative and co-solvent, which contribute to the stability, efficiency and safety of medicinal products. The pharmaceutical industry depends on high-purity, pharmaceutical-grade 1,2-hexanediol to maintain drug formulation quality and uniformity.

In pharmaceutical formulations, 1,2-hexanediol serves as a preservative, reducing microbiological contamination and extending the shelf life of prescription goods. It prevents the growth of bacteria, fungus and other microbes that can hamper the purity and safety of medicinal products. The demand for pharmaceutical-grade 1,2-hexanediol derives from the necessity for effective preservatives in a variety of medication compositions. Therefore, the pharmaceuticals grade segment dominates the global 1,2-hexanediol market with the more than 1/3rd of the market share.

Geographical Penetration

Increased Awareness and Demand for Green and Sustainable Cosmetics

Several cosmetic companies in the region are developing their green product lines to meet the growing demand for sustainable alternatives. As part of these practices or innovations, 1,2-hexanediol is being added to formulations labelled as eco-friendly or natural. The rise of green product lines increases overall demand for 1,2-hexanediol in the cosmetics industry.

In 2022, Symrise will add Hydrolite 6 green to its offering. The 6-carbon 1,2-alkanediol is one of the cosmetics industry's first green 1,2-hexanediols. It is marketed as a greener version of Symrise's multifunctional components Hydrolite 6 and Hydrolite 6O. It is derived from renewable sources and is an effective skin moisturizer. Therefore, Asia-Pacific captures nearly half of the regional market share.

COVID-19 Impact Analysis

The pandemic severely affected the global supply chains, causing delay in procurement of raw material, labor shortages and transportation delays. Manufacturers producing 1,2-hexanediol encountered difficulties in obtaining necessary inputs and delivering final products, resulting in production schedule interruptions and supply chain inefficiencies.

Additionally, pandemic has boosted the need for the sanitization products such as hand sanitizer and other cleaning and hygiene products. In order to decrease the risk of the illness and other threats during pandemic, companies across variety of industries and individuals were preferring hygiene products, which further fueled the demand for the 1,2-hexanediol's in the global product market.

Russia-Ukraine War Impact Analysis

The global supply chain of 1,2-hexanediol can be disrupted by factors such as including trade prohibitions, transportation difficulties or production halts caused by conflict. It can cause shortages in the market, which would affect manufacturers further down the supply chain who depend on the chemical.

Market dynamics may be impacted by the conflict's unpredictability and instability, which could result in shifting patterns of supply and demand. Players in the market might take a cautious stance, which would alter their future investments plans and product development. In order to reduce risks, companies could also search for different suppliers and supply chain avenues, which could eventually change the dynamics of the market.

By Type

• Pharmaceutical Grade
• Chemical Grade
• Others

By Source

• Bio-based 1,2-Hexanediol
• Petrochemical-based 1,2-Hexanediol

By End-User

• Cosmetic & Personal Care
• Inks & Coatings
• Medicine
• Adhesives
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In November 2022, Symrise has expanded its line to include Hydrolite 6 green. The 6-carbon 1,2-alkanediol is advertised as the first green 1,2-hexanediol to hit the cosmetics industry.
• In 2018, BASF has planned to enhance the manufacturing capacity of Hexanediol at its Ludwigshafen Verbund plant by more than 50%.
• LANXESS has boosted production of 1,6-hexanediol at its Uerdingen plant in Germany for the global market.

Competitive Landscape

The major global players in the market include BASF SE, Solvay, Celanese Corporation, Eastman Chemical Company, Hefei TNJ Chemical Industry Co.,Ltd., CHUNGDO FINE CHEMICAL CO LTD, Sabinsa Corporation, Kowa Europe, Knowde and Saiper Chemicals Pvt Ltd.

Why Purchase the Report?

• To visualize the global 1,2-hexanediol market segmentation based on type, source, end-user and region, as well as understands key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of 1,2-hexanediol market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global 1,2-hexanediol market report would provide approximately 61 tables, 53 figures and 196 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies