According to the new market research report "1,6-Hexanediol Market by Application (Polyurethanes, Coatings, Acrylates, Adhesives, Polyester Resins, and Plasticizers), and Region (Europe, APAC, North America, South America, and Middle East & Africa) - Global Forecast to 2025", published by MarketsandMarkets™, the 1,6-Hexanediol Market size is projected to grow from USD 902 million in 2019 to USD 1,401 million by 2025, at a CAGR of 8% during the forecast period.

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Polyurethane is estimated to be the largest application of 1,6-hexanediol during the forecast period.

The polyurethanes segment is the largest application of 1,6-hexanediol market, in terms of value and volume. This dominance is expected to continue till 2025. The market in the polyurethanes application is driven by the consumption in thermoplastic polyurethanes elastomers, coatings, and foams.

Europe is estimated to be the largest market for 1,6-hexanediol during the forecast period.

Europe is estimated to account for the largest share of the 1,6-hexanediol market during the forecast period. This is attributed to the presence of major market players such as BASF SE (Germany), Perstorp AB (Sweden), and Lanxess Aktiengesellschaft (Germany). The increasing demand for PU, coatings, and adhesives in automobile applications is driving the consumption of 1,6-hexanediol in the region.

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Market Dynamics

The global market of 1,6-Hexanediol is estimated to witness steady growth in developing nations of APAC, including Japan. Increasing penetration of new players and a substantial presence of Chinese manufacturers in the 1,6-Hexanediol market are acting as prime factors impacting the overall production rate in the region. The polyurethane industry is expected to grow in the APAC region, owing to the rise in R&D, government regulations, cost advantage, low-cost workforce, and better manufacturing facilities, thereby driving the consumption rate in the 1,6-Hexanediol market. A major factor responsible for the growth of polyurethanes is the demand for its sub-applications or derivatives, such as thermoplastic polyurethane elastomers, coatings, and foams, across varied regions.

 The key players operating in the global 1,6-Hexanediol Market include BASF SE (Germany), Fushun Tianfu Chemicals Co., Ltd. (China), Lanxess Aktiengesellschaft (Germany), Linshui Nanming Chemical Co., Ltd. (China), Perstorp AB (Sweden), Ube Industries, Ltd. (Japan), Shandong Yuanli Science and Technology Co., Ltd. (China), Zhengzhou Meiya Chemical Products Co., Ltd. (China), Hefei TNJ Chemical Industry Co., Ltd. (China),  and Prasol Chemicals Pvt. Ltd. (India).

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