1,6 Hexanediol Market Analysis by Trends, Production, Consumption and Forecast 2023
1,6 Hexanediol Market: Overview
1,6 hexanediol market has witnessed high growth along with its end use markets such as polyurethane, coatings and acrylates among others over the last few years. The compound has made significant progress with the end use industries which is helped by the fact that 1,6 hexanediol can be customized in order to suit the standards and safety requirements of the end use product. 1,6 hexanediol is basically a colorless crystalline solid with high affinity towards water.
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The main applications of 1,6 hexanediol are in the production of polyurethanes, acrylates, coatings, adhesives, plasticizers, and unsaturated polyester resins among others. Polyurethane, acrylic and coating applications account for the lion’s share of the global demand. One of the primary drivers of this market is the demand generated from the emerging countries in the Asia Pacific region. China and India in particular witnessed significant growth in the demand for 1,6 hexanediol over the past few years. Majority of the demand is generated from polyurethanes, which is one of the most versatile polymers in existence in the market.
Polyurethanes are available in the market in varied forms and find a host of end-use applications. It is available as flexible or rigid foams as well as stiff and robust elastomers and are used in a wide range of end use industries such as insulation industry, electronics industry, and construction industry among some others. The high demand for different grades of polyurethane results in the indirect demand for its upstream chemical which is 1,6 hexanediol. Research and development is highly imperative for 1,6 hexanediol market as new applications such as UV curable resins, epoxy resins system and alkalyd resins are potentially huge markets and can drive the market in the future.
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1,6 Hexanediol Market: Drivers and Trends
The impending technological advancements, and development of bio based raw materials are expected to influence the growth of the 1,6 hexanediol market. However, there are a few restraints to the 1,6 hexanediol market. Storage and transportation is a major challenge for this chemically active substance. 1,6 hexanediol is highly hygroscopic in nature and measures need to be taken in order to minimize its interaction with air or moisture. Temperature of the product should be maintained between 55°C and 70°C at all times to optimize its utility.
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