Hexamine Market Report

The global Hexamine market is anticipated to witness significant growth in the coming years owing to surge in the demand for Hexamine from various industries such as pharmaceutical, chemical, agrochemical, and polymer. Hexamine is deployed in the manufacturing of chemical compounds such as plastics, solid fuel tablets, slurry explosives, paints, foundry resins, textiles, and rubber additives. Increase in the production of Hexamine, particularly in the developing countries, is a key trend emerging in the market.

Manufacturers to Set up Various Formalin Plants to Derive Hexamine

The report studies the key companies of the Hexamine market including Hexion Inc., INEOS Group Holding S.A., PJSC Metafrax, “JSC” Shchekinoazat United Chemical Company, Sina Chemical Industries Company, Simalin Chemical Industries Pvt Ltd., Chemanol (Methanol Chemicals Company), Mitsubishi Gas Chemical Company Inc., Shandong Dongping Tongda Imp. & Exp. Co. Ltd., Ascend Performance Materials, Kanoria Chemicals & Industries Limited, and Lanxess AG.

For instance, on April 3, 2019, one of the key companies, PJSC Metafrax and Norwegian company, Dynea AS has taken up a contract to set up a 55% formalin production plant in Gubakha/Russia. The formalin produced in the plant serves as a raw material for the production of paraformaldehyde, formaldehyde, UFC, hexamine, penta, acetaldehyde, glues, and resins.

Widespread Application of Hexamine to act as a Key Driver in the Market

Increasing applications of Hexamine including resins, pharmaceutical, fuels, explosives, textiles, and rubber is supporting the Hexamine market growth to a great extent. Increasing usage of the chemical for the treatment of urinary tract infection and neurological diseases is one of the key factors driving the Hexamine market. Surge in the automotive production has eventually resulted in high production of rubber for manufacturing tires, thus driving the demand for Hexamine. On the flip side, strict regulations pertaining to the production of Hexamine in the developed economies are likely to hamper the Hexamine market growth.

Market Segmentation

By Type

● Stabilized Grade

● Unstabilized Grade

By Application

● Resin

● Rubber

● Pharmaceutical

● Explosive

Usage of Unstabilized grade is expected to increase in coating and adhesive and sealant applications. Stabilized grade may find application as a chemical intermediate in the process industry as per the requirements of the customer. The market analysts have predicted that the application of Hexamine is expected to increase as a curing agent for resins and plastics. Additionally, resins find widespread application in the adhesives and plastic industry and as laminates and coatings. Hexamine is also likely to gain traction in the manufacturing of explosive materials in the military and defense sector.

By Region

The market in Asia Pacific is witnessing increased demand for Hexamine from varied applications. Moreover, growing plastic industry, wherein Hexamine is used as a feedstock, is contributing to the Hexamine market growth in this region. It has been observed that the production of Hexamine is on the rise in the developing countries such as India, thus opening doors for the regional market. Manufacturers are also shifting their base to the developing countries on account of availability of cheap labor and raw materials. Europe and North America may witness increased consumption of Hexamine in the manufacturing of several chemicals in the near future.

The chemicals and materials sector has been witnessing an exponential rise in the past few years. The industrial boom and infrastructural growth across the globe has had a positive impact on the chemical and materials industry. Chemicals are an integral part of many industries, which, over the years, have created lucrative opportunities for players. Similarly, materials are an indispensable part of myriad industries. The rise of the chemicals and materials sector has been mapped by QYR Consulting through exhaustive research reports.

Analysts have used investigative approach to deduce important elements pertinent to the industry. The reports are aimed towards giving the reader a holistic approach about the industry’s development and future scenario. Competitive landscapes have been written with in-depth analysis of the historical data and careful understanding of the management styles. QYR Consulting aims to provide the readers a guided approach towards making well-informed business decisions through its research reports.