psalexa
logo

Hexamine Market

Hexamine Market by Type (Stabilized Grade, Unstabilized Grade), by Application (Resin, Rubber, Pharmaceutical, Explosive), by Geography (U.S., Canada, Russia, Germany, France, China, India, Saudi Arabia, U.A.E., Iran) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023

Published: May 2018
Report Code: CM11457
Available Format:
Pages: 122

Hexamine Market Overview

The global hexamine market is estimated to be valued at $315.4 million in 2017 and is projected to reach $394.2 million by 2023, witnessing a CAGR of 3.7% during the forecast period. Growing demand of the chemical from end use industries and its increasing use in the plastic industry are the key factors driving the hexamine market growth.

 

GLOBAL HEXAMINE MARKET, BY TYPE, $M (2013-2023)

HEXAMINE MARKET

Hexamine is a white crystalline compound made via the chemical combination of formaldehyde and amine. It is primarily used in applications related to resins and explosives. The material possesses a heterocyclic organic structure, slightly amine odor, and great solubility in polar solvents such as water, alcohol, and chloroform.

Based on type, the hexamine market has been categorized into stabilized grade and unstabilized grade. Of the two, unstabilized grade has been contributing larger revenue to the market, with more than 85.0% share in 2017. Increasing application of this type in resins, vulcanization of rubber, urinary antiseptics, fuel tablets, adhesives, coatings, and sealing compounds is the prime factor for the dominance of this product category in the global market.

On the basis of application, the hexamine market has been categorized into resin, rubber, pharmaceutical, explosive, and ‘others’ (laboratories, fuel, fertilizer, leather, and paper). Resin is the leading application category in the hexamine market, with an estimated contribution of more than 50.0% revenue in 2017. This is attributed to the fact that there are various uses of resins such as in the plastic industry, adhesives industry, and as laminates and coatings.

Geographically, Asia-Pacific (APAC) has been the largest market for these materials, with an estimated revenue of more than 50.0% share in 2017. The region is also expected to be the fastest growing market during the forecast period. This can be ascribed to the increasing demand of the chemical for different applications and from the growing plastic industry in the region, where it is used as a feedstock.

Hexamine Market Dynamics

Increasing production in APAC is the key trend witnessed in the global hexamine market. Growing demand for the chemical in different end use applications is one of the key factors driving the growth of the market. Furthermore, rising demand for the chemical in emerging economies is providing ample growth opportunities to the players in the market.

Trends

The major trend witnessed in the hexamine market in recent years is the increasing production of the chemical in APAC. Comparatively lenient regulations regarding its production, and availability of cheap labor and raw materials help in decreasing the minimum efficiency scale (MES) for the its production in the region. Producers are shifting their base to APAC owing to stringent environmental rules and regulations laid down by the governments of various countries in other regions, particularly Europe, banning the use of hexamine in paint striper application. The regulations have been set up by REACH, which is the European Regulation on Registration, Evaluation, Authorisation and Restriction of Chemicals.

Drivers

Hexamine is used in many industries including pharmaceutical, rubber, explosives, fuels, and others. With the rise in population, there has been an increasing need from the pharmaceutical industry for medical products. This is because the increasing population is resulting in poverty, which is attributing to a rise in diseases, like urinary tract infection and neurological diseases. The chemical is used as an antibiotic for the treatment of urinary tract infection and also for the suppression of bacteriuria in patients having neurological diseases.

It also acts as an accelerator for the production of vulcanized rubber, which is used for making automobile tires. Rise in disposable income of consumers, especially in China, has increased their spending on the purchase of vehicles. This has led to increase in automobile production to meet the surging demand. In such context, rise in automotive production has led to increase in the production of rubber for the manufacture of tires. Rise in production of rubber has further led to expansion of the hexamine market in the rubber industry.

Opportunities

The hexamine market in developing countries is on the rise. Emerging economies such as India, are seeing a high use of the chemical in the plastic and adhesives industries. For example, in India, Simalin Chemical Industries Pvt Ltd. is a major producer of the chemical, that produces it for use in the pharmaceutical, plastic, and adhesives industry. Thus, increasing demand from developing countries is creating ample growth opportunities in the market for industry players.

Hexamine Market Competitive Landscape

Some of the major players operating in the hexamine market are INEOS Group Holding S.A., Hexion Inc., PJSC Metafrax, Sina Chemical Industries Company, “JSC” Shchekinoazat United Chemical Company, Simalin Chemical Industries Pvt Ltd., Mitsubishi Gas Chemical Company Inc., Chemanol (Methanol Chemicals Company), Shandong Dongping Tongda Imp. & Exp. Co. Ltd., Kanoria Chemicals & Industries Limited, Ascend Performance Materials, and Lanxess AG.

Place An Order

Single User License
question-mark

The report will be delivered in PDF format without printing rights. It is recommended for a single user.

USD 5100
Group License
question-mark

The report will be delivered in PDF format along with the printing rights. It is recommended for up to five users.

USD 6100
Enterprise License
question-mark

The report will be delivered in PDF format along with printing rights and detailed Excel sheet. It is recommended for organizations where multiple people would like to access the report from multiple locations.

USD 9100

Pre-Purchase Enquiry