Hexamethylenediamine Market

Hexamethylenediamine (HMDA) Market Size (2023-2028):

The Hexamethylenediamine (HMDA) Market is valued at $ 7.24 billion in 2022 and is anticipated to achieve $ 9.84 billion by 2028, growing at a CAGR of 8.5% during the forecast period from 2023-2028

Hexamethylenediamine (HMDA) is an organic compound with the chemical formula H2N (CH2) 6NH2. HMDA consists of a hexamethylene hydrocarbon chain terminated by an amine functional group. Hexamethylenediamine is used as an intermediate chemical monomer in the production of polymers such as nylon 6-6. Furthermore, hexamethylenediamine is used in combination with dicarboxylic acids for the production of other nylons such as nylon 69, nylon 610, and nylon 612. In recent years, the demand for bio-based hexamethylenediamine required to manufacture nylon 66 has increased dramatically. Therefore, it has wide applications in various end-use industries, such as water treatment, textile, and automobile. In addition, it is also used in the manufacture of resins that can be used in adhesives and paints. There has been a remarkable escalation in the call for bio-based nylon resins and hence companies are focusing on creating bio-based production technologies for the manufacture of hexamethylenediamine and adipic acid (the other component used in the manufacture of nylon 66 with hexamethylenediamine).

The main factors that differentiate conventional hexamethylenediamine from bio-based hexamethylenediamine include profitability, raw material prices, and the production process. However, another crucial trend noticed in the global Hexamethylenediamine market is that major manufacturers are focusing on enlarging their production quantity to achieve an advantage over other market players. Many manufacturers have expanded their presence in the emerging markets of China, India, and other Asian countries. Manufacturers are also investing heavily in acquisitions in the global hexamethylenediamine market.

Drivers & Restraints in the Hexamethylenediamine (HMDA) Market

One of the main areas of consumption of hexamethylenediamine is the manufacturing process of nylon 66 fiber and resin. Therefore, the increased demand for nylon 66 fiber has had a large positive impact on the global market of nylon. hexamethylenediamine. . With the growth of nylon as an important substitute for various applications, especially in the automotive industry, where nylon has replaced metals in various applications, the hexamethylenediamine market is expected to grow at a rapid rate. In recent years, there has been a significant increase in the demand for hexamethylenediamine which is used to make nylon 6-6 resins. Growing demand for the product in the application of nylon synthesis is expected due to its use in the automotive industry for the manufacture of airbags, radiator end tanks, oil sumps, and rocker covers. , electrical insulation, manifold, air intake, and the like is major growth factors in the hexamethylenediamine market.

In addition, the increasing demand for hexamethylenediamine as a curing agent in the petrochemical industry is another factor that is expected to drive the growth of the hexamethylenediamine market in the long term. In addition, the growing adoption of the product in various applications such as water treatment chemicals, intermediate coatings, lubricants, and others, due to its corrosion resistance property, is expected to boost to some extent potential market growth. Increased R&D and investment in manufacturing biobased hexamethylenediamine is expected to create a very lucrative opportunity for the major players and is expected to drive potential market revenue growth in the coming years.

However, HMDA is moderately toxic, and direct exposure to the product during its manufacture can cause eye damage and skin burns. Strict rules and regulations on environmental concerns regarding the disposal of plastics factors that can slow potential market growth in the long run. . In addition, the high cost of raw materials is expected to be another factor hampering the growth of the target market.

HEXAMETHYLENEDIAMINE (HMDA) MARKET REPORT COVERAGE:

Market Segmentation:

Hexamethylenediamine (HMDA) Market - By Application:

• Nylon Synthesis

• Curing Agents

• Lubricants

• Biocides

• Coatings Intermediate

• Adhesives

• Water Treatment Chemical

• Others

The demand for hexamethylenediamine from the nylon synthesis applications segment has been increasing in recent times, due to the increasing demand for nylon 66 from various end-use industries, such as automotive and textile. Nylon 66 is used in the manufacture of automotive products and components, such as radiator end tanks, rocker arm covers, air intake manifolds, oil sumps, insulation elements electric, and airbags, among others. The growth of these end-use industries is expected to drive demand for hexamethylenediamine from the nylon synthesis applications segment.

Hexamethylenediamine (HMDA) Market - By End-Use:

• Automotive

• Textile

• Paints & Coatings

• Petrochemical

• Others

Textiles are estimated to be the second-largest end-use industry segment of the hexamethylenediamine market, while the paints and coatings segment is expected to grow at the second-highest CAGR during the forecast period. The textile industry holds a large share of the hexamethylenediamine market with its use to manufacture products such as clothing and rugs. Nylon 6-6 is quite durable and has high-temperature resistance which makes it a desirable material in various industries. The aerospace industry has a moderate share and will represent significant growth with the use of nylon instead of metals. Paint and coatings are beginning to be used for intermediate coatings and curing agents.

Hexamethylenediamine (HMDA) Market - By Region:

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

The Asia-Pacific market dominates the global hexamethylenediamine market and is expected to register the highest CAGR during the forecast period due to the rapid industrialization in the region. It is expected that the increased use of hexamethylenediamine as a precursor for nylon 6,6 production in end-use industries, such as automotive and textiles, will stimulate regional market demand. China is the largest consumer in the region due to the increase in the country's nylon exports. For example, in 2019, China's total nylon exports were valued at around $ 138.40 million. Therefore, it is one of the world's top three nylon exporters. In addition, India and other Southeast Asian countries are driving regional market growth due to the increasing use of the product in the water treatment industry. These factors create plenty of opportunities for the Hexamethylenediamine market players in the region.

The North American market accounted for a substantial market share in 2019. The escalating call for hexamethylenediamine as a raw material in the paints and coatings industry and the growing construction activities in the region are driving the growth of the regional market. Additionally, increasing advancements in the United States, along with emerging multi-functional applications such as 3D printing and functional coatings, further, drive the growth of the regional market.

The European market is anticipated to witness remarkable growth during the forecast period. This can be ascribed to the escalating utilization of hexamethylenediamine to manufacture automotive components and produce lubricants. Germany is the first country in the region, followed by France and the United Kingdom, due to the presence of important key players such as BASF SE, LANXESS, Merck KGaA, and Evonik Industries AG.

Latin America, the Middle East, and Africa markets are expected to show healthy growth during the forecast period owing to the growth of the paints and coatings industry. The increasing use of HMDA in the petrochemical industry further stimulates the growth of the regional market.

Major Key Players: 

1. INVISTA (US)

2. BASF SE (Germany)

3. Asahi Kasei Corporation (Japan)

4. TORAY INDUSTRIES, INC. (Japan)

5. Merck KGaA (Germany)

6. Evonik Industries AG (Germany)

7. Solvay (Belgium)

8. Ascend Performance Materials (US)

9. DuPont (US)

10. LANXESS (Germany)