1,6-Hexanediol Market Size, Share, Growth, Trends, and Global Industry Analysis: By Raw Material (Cyclohexane, and Adipic Acid), Application (Polyurethanes, Coatings, Acrylates, Adhesives, Polyester Resins, Plasticizers, and Others), End User Industry (Marine, Construction, Paints and Coatings, Automotive, and Transportation, Pipe and Tanks, Electrical and Electronics and Wind Energy), and Region

1,6-Hexanediol Market was valued at US$ 1,023.8 million in 2022 and is poised to grow at a CAGR of 7.6% over 2023-2029. 1,6-Hexanediol is a chemical compound prepared by the hydrogenation of adipic acid or its esters and is a type of diol, that is used in the production of various products, including polymers, coatings, and cosmetics. The rising demand for various polymers, including polyurethanes and polyester resins in automotive, construction, and packaging industries is expected to drive the market. According to ACEA, May 2023 report, in 2022, 85.4 million motor vehicles were produced around the world, an increase of 5.7% compared to 2021. Furthermore, the increased demand for coatings and paints in the construction and automotive sectors, where 1,6-Hexanediol is used as a component to improve performance and durability is anticipated to propel the market demand.

In Addition, the advancement in the cosmetics and personal care industry to develop effective skincare and beauty products has provided several opportunities for manufacturers to develop new formulations and applications for 1,6-Hexanediol to align with consumer preferences for natural and effective ingredients. Currently, the availability of options to customize chemical solutions, and formulations of 1,6-Hexanediol to tailor to meet specific industry needs has become popular in the market. But the adoption of strict regulatory compliance, safety, and environmental standards by several country’s governments for chemical industries may hinder market growth. However, the increased demand from several end-user industries, increased key market players, and increased investments by the government are anticipated to burgeon the market growth during forecast years.

1,6-Hexanediol Market Key Developments:

• In June 2022, BASF calculated the individual product carbon footprints (PCF) of a large part of its portfolio and announced 1,6-Hexanediol (HDO) as one of its “LowPCF” intermediates with a mission to achieve net zero CO2 emissions by 2050.
• In September 2018, BASF SE announced to raise the 1,6-Hexanediol production capacity at its Ludwigshafen Verbund plant by more than 50%. 1,6-Hexanediol will be able to be produced at a rate of more than 70,000 metric tons annually after this expansion. High-growth industries including automotive, furniture, and packing will employ the 1,6-hexanediol that the facility produces.