The increasing demand from the automotive and textile industry is driving the growth of the market.
Europe Hexamethylene Diamine Market Size – USD 6.34 Billion in 2019, Growth - CAGR of 5.4%, Trends – The growing environmental concerns.
The global Europe Hexamethylene Diamine Market is forecast to reach USD 9.69 Billion by 2027, according to a new report by Reports and Data. HMDA, also known as, Europe Hexamethylene Diamine, is a colorless crystalline solid and has a characteristic of amine odor. It consists of a Europe Hexamethylene hydrocarbon chain terminated with an amine functional group.
HMDA can be used as a corrosion inhibitor, chemical intermediate, and a curing agent. Thus, it has extensive applications in several end-use industries such as textile, water treatment, and automotive. Moreover, it is also used in manufacturing resins that can be used in paints and adhesives. The growing demand for the market product in the textile and automotive industry is driving the growth of the market. This is due to the increasing demand for HMDA as a precursor in the manufacture of nylon 6,6. This product is used to produce domestic and technical textiles.
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Top Companies: BASF SE, Toray Industries, Inc., Merck KGaA, Solvay SA, Evonik Industries AG, Ashland Global Holdings, Inc., E. I. Du Pont De Nemours, Invista, Asahi Kasei Corporation, and Lanxess among others.
Further Key Finding from the Report Suggestion:
- Nylon 6,6 is used in the automobile to manufacture electro-insulating elements, airbags, and radiator end tanks. Due to the rising environmental concerns, there is a growing need to produce bio-based Europe Hexamethylene Diamine. This is expected to create a demand for the market players internationally.
- HMDA is slightly toxic, and direct exposure during its manufacturing can damage the eye and burn skin. It has also been included in the hazardous substance list by the European Chemicals Agency and American Conference of Governmental Industrial Hygienists. This will hamper the market growth.
- The increasing demand for HMDA as a raw material in the paints and coatings industry and the growing constructional activities in the region is driving the demand of the market. Additionally, the rising advancements in the U.S., along with the emerging multifunctional application like functional coatings and 3D printing, are further driving the demand in North America.
- APAC is also forecasted to grow owing to its extensive growth in the nylon fiber-based apparel and consumer products coupled with the massive demand for nylon fibers in military and sports usages, especially in China, Japan, and Indian sub-continental countries.
- In June 2019, Universal Fibers, Inc., a major player in the nylon fibers production, updated the acquisition of twisting and heat-setting assets for its production Europe and Asian production facilities situated in Gorzow, Poland and Taicang, China. Both plants in the two different continents are fully integrated with all the procedures right from extrusion to finished yarns in multiple chemistries, including Nylon 6 and Nylon 6,6, and serve carpet manufactures deal in residential, commercial and automotive end-uses.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Europe Hexamethylene Diamine market is segmented into:
Grade Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
- Chemical Grade
- Industrial Grade
Applications Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
- Nylon Synthesis
- Curing Agents
- Coatings Intermediate
End Use Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
- Paints and Coatings
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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