Global 1,6 Hexanediol Market: Overview
1,6 hexanediol market has seen high growth alongside its end-use markets, for example, polyurethane, coatings, and acrylates among others in recent years. The compound has gained noteworthy ground with the end use enterprises which is helped by the way that 1,6 hexanediol can be redone so as to suit the guidelines and wellbeing necessities of the end use item. 1,6 hexanediol is fundamentally a dry crystalline strong with high liking towards water. The high demand for different grades of polyurethane results in the indirect demand for its upstream chemical which is 1,6 hexanediol. Research and development is highly imperative for 1,6 hexanediol market as new applications such as UV curable resins, epoxy resins system and alkalyd resins are potentially huge markets and can drive the market in the future.
A Recent TMR report provides a complete study of global 1,6 hexanediol market. It covers various aspects that are influencing the growth of the market. The report also provides an in-depth study of various facets such as notable developments, key players, regional analysis, and multiple opportunities that global 1,6 hexanediol market has to offer to various businesses.
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Global 1,6 Hexanediol Market: Notable Development
The global 1,6 hexanediol market is majorly fragmented. The market is dominated by some of the major players across the globe. In order to stay ahead of the competition, the players of global 1,6 hexanediol are adopting strategies such as mergers, partnerships, and collaborations. Also, they are focusing on various research and development activities in order to launch new products. This helps businesses to retain their customers in a highly competitive market. Some players are also acquiring various small and medium scale businesses in order to enhance their production capacity and gain a much required competitive edge over the competitors.
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).
Global 1,6 Hexanediol Market: Key Drivers
High affinity of 1,6 hexanediol towards water makes it widely utilized in paints, covering and acrylics, glues and plasticizers among others. 1,6 hexanediol based coatings have high adaptability and surface hardness combined with solid grip to substrates which likewise foreseen the item request over the coming years. Owing to these growing application, the global 1,6 hexanediol market is expected to grow substantially in the forecast period.
In addition, expanding request of mechanical coatings attributable to strong end use industry development is driving the market growth. Protective coatings are utilized on enormous scale in applications, for example, car, foundation and apparatus and gear’s so as to improve quality and aesthetic properties of the item. Thus, powerful industry development is additionally foreseen to enlarge the global 1,6 hexanediol market.