Growing demand from different end use industries and increasing use from the plastic industry are the key factors driving the hexamine market growth. Hexamine is an organic chemical, mainly used as a hardening component in the production of phenolic formaldehyde resins, and related molding compounds. It is also known as methenamine, urotropine, formin, aminoform, or hexamethylenetetramine.
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Of all application categories in the hexamine market, resin accounted for the highest consumption of the chemical, with a contribution of more than 50% in 2017. This is attributed to the fact that it acts as an important component in thermosetting the resin production by working as a curing agent.
The unstabilized grade is the dominant type in the hexamine market, with an estimated contribution of more than 85.0% revenue in 2017. This can be attributed to the wide use of the chemical in the preservation of hides, as cross-linking agent for hardening phenol-formaldehyde resins and vulcanizing rubber, as corrosion inhibitor for steel, as dye fixative, and as urinary antiseptic, besides others.
Globally, Asia-Pacific (APAC) has been the largest hexamine market, with a contribution of more than 50.0% revenue in 2017. It is also expected to be the fastest growing market during the forecast period, with 4.5% CAGR. Increasing demand for the chemical from different industries, such as rubber, resin, and pharmaceutical, is driving the growth of the market in the region.
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Some of the other major players operating in the hexamine market are Hexion Inc., 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.
GLOBAL HEXAMINE MARKET SEGMENTATION
- Stabilized Grade
- Unstabilized Grade
- North America
- Rest of Europe
- Rest of APAC
- Rest of the World (RoW)
- Saudi Arabia
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