The hexamethylenediamine market is estimated to be USD 5.35 Billion in 2017 and is projected to reach USD 6.82 Billion by 2022, at a CAGR of 5.0% from 2017 to 2022. The demand for hexamethylenediamine is mainly driven by the growing consumption of nylon 66 in different end-use industries. The demand for nylon is expected to be quite significant in the automotive industry, as compared to the textile and other industries. The automotive industry is witnessing strong growth in emerging markets, such as China, India, and Brazil and this growth is expected to steer the demand for nylon and hexamethylenediamine.
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Some of the key players in the hexamethylenediamine market are BASF SE (Germany), E. I. du Pont de Nemours (DuPont) (US), Asahi Kasei Corporation (Japan), Toray Industries, Inc. (Japan), Merck KGaA (Germany), Evonik Industries AG (Germany), Solvay S.A. (Belgium), Ashland Global Holdings, Inc. (US), Invista (US), Ascend Performance Materials (US), Rennovia, Inc. (US), and Compass Chemical (US), among others. Expansions and agreements were the key growth strategies adopted by these players in the hexamethylenediamine market. These companies also invested in R&D activities to strengthen their sales and distribution networks, enhance their market visibility, and strengthen their position in the market.
Ascend Performance Materials, one of the leading producers of hexamethylenediamine, has a market presence across North America and other regions. In May 2016, the company established a new application lab at its Decatur, Alabama facility. The new lab is expected to help the company support its formulated product lines, especially those that are used in the coatings, asphalt, and oil & gas industries. Earlier, in May 2015, the company formed a strategic alliance with Royal DSM (Netherlands) for the supply of compounds based on polyamide 66 (PA66), which is majorly used as a raw material in engineering plastics. This alliance helped both companies cater to the demand of customers in the European region.
Invista is another leading producer of hexamethylenediamine, which is used in the formulation of coatings, epoxy curing agents, petroleum additives, adhesives, inks, scale, and corrosion inhibitors, and water treatment chemicals. In October 2016, the company established a Nylon 66 manufacturing facility, at Shanghai Chemical Industry Park (SCIP) in China. The facility will also produce 215,000 tons of hexamethylenediamine and 150,000 tons of polymer per year. This expansion is expected to help the company in supplying and supporting the requirements of its customers and in meeting the growing demand for Nylon in Asia.