According to the new market 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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Automotive segment is estimated to be the fastest-growing market

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

North America is the largest and fastest market for hexamethylenediamine

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.

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. The study includes an in-depth competitive analysis of these key players in the hexamethylenediamine market, with their company profiles, and key market strategies.

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BASF SE has 11 divisions and operates under business segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. The major end-use markets for the company’s products and services are automotive & transportation, chemicals, electrical & electronics, construction, energy & resources, pharmaceuticals, papers coating & carpet, and packaging & prints, among others. The company has a presence in Europe, Asia Pacific, North America, Central America, South America, and the Middle East & Africa. It has a presence in 90 countries globally. It has six Verbund sites and 232 additional production sites around the world.

Merck KGaA is a technology and science company operating in the healthcare, life science, and performance materials business. The company operates in three business segments– healthcare, life sciences, and electronics. It specializes in pharmaceuticals, chemicals, and technology. The revenue of the company increased by 12.3% in 2021 compared to 2020. The company has a strong presence in North America, Europe, South America, Asia Pacific, and the Middle East & Africa. Merck KGaA offers hexamethylenediamine for end-use applications such as polymer synthesis, intermediates, and curing agents. The major end markets for hexamethylenediamine offered by the company are automotive, textile, and paints & coatings, among others. The company’s product offerings have a high brand value across end-use industries.