Kenneth Research, in its repository of market research reports, has recently added a report on the Hexamethylene Diamine Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Hexamethylene Diamine Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
The U.S. Market recovers fast; In a release on May 4th, 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Hexamethylene Diamine Market products.
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The global hexamethylene diamine market was valued at USD 5.35billion in 2017 and is projected to reach USD 7.84billion by 2025, growing at a CAGR of 4.9% from 2017 to 2025.
Hexamethylene diamine is a diamine comprising of hexamethylene hydrocarbon chain and amine functional groups. The bi-functional nature of this compound has resulted in huge applications. However, it is majorly used in plastic manufacturing. The demand is expected to remain high over the forecast period owing to growing usage in the manufacture of epoxy resins.
1. Market Drivers
1.1 Rising demand from Nylon 66 resin market
1.2 Increasing demand for polyamides
2. Market Restraints
2.1 Slow market penetration in emerging economies
2.2 Environmental issues in manufacturing
The global hexamethylene diamine market is segmented on the basis of application, end-use, and region.
1. By Application:
1.4 Curing Agents
1.5 Coating Intermediates
1.6 Nylon Synthesis
1.7 Water Treatment Chemical
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2. By End-Use:
2.1 Paints & Coatings
2.1.3 Specialty Coatings
2.2.2 Industrial Clothing
2.2.3 Sewing Threads
2.5.1 Electrical & Electronics
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. Toray Industries
2. BASF SE
3. Merck KGaa
4. EI Du Pont De Nemours
9. Rennovia Inc.
10. Compass Chemical
11. Ascend Performance Materials
14. Suzhou Sibian Chemicals Co., Ltd.
15. Chengdu Dacheng Chemical Co., Ltd.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the hexamethylenediaminemarket was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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