The hexamethylenediamine market is estimated to be USD 5.35 billion in 2017 and is projected to reach USD 6.82 billion by 2022, at a CAGR of 5.0% during the forecast period from 2017 to 2022. The demand for hexamethylenediamine is mainly driven by the growing consumption of nylon 66 in different end-use industries. Among industries, the demand for nylon is expected to be quite significant in the automotive industry, as compared to textile and others. The automotive industry is witnessing a strong growth in emerging markets, such as China, India, and Brazil, and this growth is expected to drive the demand for nylon and hexamethylenediamine.
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Among applications, the nylon synthesis segment is projected to grow at the highest CAGR during the forecast period. The growing usage of nylon across various industries, such as automotive, consumer goods, electrical & electronics, and textiles is anticipated to boost the hexamethylenediamine market in the coming years across regions.
Based on end-use industry, the automotive segment of the hexamethylenediamine market is projected to grow at the highest CAGR during the forecast period. Hexamethylenediamine is majorly used in the synthesis of nylon 66, which is widely used in the automotive end-use industry for making various products and components, such as connectors & housing, under-the-hood components, wheel well, and lighting components, such as headlamp structural housings, headlamp & fog lamp, and reflectors & lighting sockets. Hence, the automotive industry is the largest consumer of hexamethylenediamine globally.
North America, Europe, and Asia-Pacific are significant regions for the hexamethylenediamine market. Increasing demand of hexamethylenediamine from the nylon 66 market and growth of various end-use industries are the major factors driving the hexamethylenediamine market in these regions. The North American region is estimated to capture the largest share of the hexamethylenediamine market in 2017 and is also projected to remain the largest market during the forecast period. The Asia-Pacific hexamethylenediamine market is anticipated to grow at the highest CAGR during the forecast period.
Increasing investments and growing R&D activities in bio-based hexamethylenediamine create a market opportunity for the global hexamethylenediamine market. The development of new industrial bio-based hexamethylenediamine has the potential to reduce the dependence on imported oil as well as improve energy security. During production, bio-based hexamethylenediamine emits lesser greenhouse gases (GHG) as compared to conventional crude oil-based production systems. Besides, the quality of bio-based hexamethylenediamine produced currently is equivalent to those of crude oil-based products thus creating a new market opportunity in the global hexamethylenediamine market.
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