Hexamethylenediamine Market Update: Industry News and Updates

 


According to a research report "Hexamethylenediamine Market by Application (Nylon Synthesis, Curing Agents, Lubricants, Biocides, Coatings Intermediate, Adhesives), End-Use Industry (Automotive, Textile, Paints & Coatings, Petrochemical) and Region - Global Forecast to 2027" published by MarketsandMarkets, the global hexamethylenediamine market size is projected to grow from USD 8.9 billion in 2022 to USD 11.6 billion by 2027, at a CAGR of 5.4% from 2022 to 2027. With the rise of nylon as a major substitute for a variety of applications, particularly in the automotive industry, where nylon has replaced metals in many applications, the hexamethylenediamine market is expected to expand rapidly. In 2020, the hexamethylenediamine market was significantly impacted by the COVID-19 pandemic, with a substantial decline in its CAGR. However, recovery was witnessed with a positive impact on the hexamethylenediamine market because of demand in the automotive in 2021.

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The hexamethylenediamine market comprises major solution providers, BASF SE (Germany), Merck KGaA (Germany), TORAY INDUSTRIES, INC. (Japan), Evonik (Germany), and DuPont de Nemours, Inc.(US) among others.

Recent Developments

  • In March 2022, Asahi Kasei entered into a strategic partnership with Genomatica, Inc. to develop hexamethylenediamine from biomass (bio-hexamethylenediamine). Asahi Kasei currently uses hexamethylenediamine derived from fossil fuels as an intermediate in the production of Leona polyamide 661,2 (also known as nylon 6-6), an engineering plastic with exceptional heat resistance and rigidity. The strategic alliance with Genomatica grants Asahi Kasei preferential access to the early volume of bio-hexamethylenediamine to evaluate its potential as a polyamide 66 feedstock, allowing Asahi Kasei to accelerate trials of polyamide 66 made from biomass-derived intermediate.
  • In February 2022, BASF SE began marketing several polyamides (PA) and polyphthalamide (PPA) grades in Europe after acquiring Solvay's PA66 business. These engineering plastics, formerly known as Technyl, will be sold by BASF under the well-known brand name Ultramid. Customers worldwide will benefit from a diverse plastics portfolio that includes both PA66 grades as well as Ultramid One J, a PPA based on PA66/6T. Thus, BASF will assist its customers in developing innovative plastics solutions across all industries, such as connectors and circuit breakers for E&E applications, consumer and household electronics, and autonomous driving and mobility.
  • In January 2022, Ascend Performance Materials signed an investment agreement to build a new hexamethylene diamine and specialty chemicals plant in the Xuwei New Area Park in Lianyungang, China. The new plant will be Ascend's first chemical production facility and the company's largest investment outside of the US. The plant will manufacture hexamethylenediamine and specialty chemicals to support Ascend's global polyamide production and regional customers.

Automotive is the biggest end-use industry segment for hexamethylenediamine. Hexamethylenediamine is majorly used in the synthesis of nylon 6-6, 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, including headlamp structural housings, headlamp & fog lamp, and reflectors & lighting sockets.

The automobile industry prefers nylon-based plastic products & components, which are lightweight and high-performance materials. Hence, the growth of the automotive industry across regions is expected to drive demand for nylon-based products & components, which is expected to further drive the hexamethylenediamine market.

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North America is expected to hold the largest share of the global hexamethylenediamine market in 2021. The United States and Mexico dominate the regional hexamethylenediamine market. The North American hexamethylenediamine market is expanding as a result of the regions expanding automotive industry. During the forecast period, the Asia-Pacific hexamethylenediamine market is expected to grow at the fastest CAGR.

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