Automotive is the largest end-use industry segment of the hexamethylenediamine market

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% from 2017 to 2022. The demand for hexamethylenediamine is mainly driven by the growing consumption of nylon 66 in different end-use industries, such as automotive and textile. The automotive industry is shifting from traditional materials toward engineering plastics to attain better productivity and efficiency of components. The growing use of nylon 66 products and components in the automotive industry is anticipated to drive the market for hexamethylenediamine in the coming years.

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Hexamethylenediamine is majorly used in the synthesis of nylon 66, which is widely used in the automotive industry to manufacture various products and components, such as connectors & housings, under-the-hood components, wheel well, and lighting components, such as headlamp structural housings, headlamps & fog lamps, and reflectors & lighting sockets, among others. Nylon is extensively used in automotive products and components as it offers excellent chemical and physical properties, along with design flexibility, as compared to metal. The growing automotive industry is anticipated to drive the nylon market, which will further drive the hexamethylenediamine demand in the coming years.

Nylon has superior mechanical property, rigidity, and chemical & heat resistivity and is widely used as fiber in textiles, carpets, and molded parts. Nylon is used to manufacture various products & components in the automotive and electrical & electronics end-use industries. The growing usage of nylon across various industries, such as automotive, textile, consumer goods, and electrical & electronics is anticipated to boost the hexamethylenediamine market across regions.

The Asia-Pacific hexamethylenediamine market is projected to grow at the highest CAGR during the forecast period. China, India, Japan, Taiwan, and South Korea are the key countries contributing to the high demand of hexamethylenediamine in the Asia-Pacific region. Increasing demand for hexamethylenediamine from the nylon 66 application market is the major growth driver for the hexamethylenediamine market in this region.

Some of the key players in the hexamethylenediamine market are BASF SE (Germany), E. I. du Pont de Nemours (DuPont) (US), Asahi Kasei Corporation (Japan), Toray Industries, Inc. (Japan), Merck KGaA (Germany), Evonik Industries AG (Germany), Solvay S.A. (Belgium), Ashland Global Holdings, Inc. (US), Invista (US), Ascend Performance Materials (US), Rennovia, Inc. (US), and Compass Chemical (US).

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Hexamethylenediamine market- Global Opportunity, Growth Analysis and Outlook up to 2022

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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