H1 2023: Hexamethylene Diisocyanate (HDI) prices exhibited mixed pattern in Asia Pacific region in H1 2023. In the initial half of first quarter, prices experienced an upward surge attributed to constrained inventory levels and consistent demand from the downstream sector. The mid-quarter witnessed a noticeable price increase driven by high number of orders for HDI by the downstream PU foam in the manufacturing sector, responding to heightened demand for furniture in the Asia Pacific region. Concurrently, upstream Ammonia prices faced downward pressure due to weak demand from fertilizer producers. However, in March 2023, orders diminished from the downstream PU industries, resulting in the low production rates. Notably, April 2023 onwards, the price trend for Hexamethylene Diisocyanate (HDI) depicted a bearish trajectory in the Asia Pacific region. The demand was subdued, attributed to sluggish activities in the Polyurethane sector and ample of supply. Concurrently, consumption rates from Polyurethane elastomer and coating producers remained insufficient throughout the quarter, primarily due to inactivity in the construction sector. In June, HDI prices experienced a slight decrease amid heightened buying activities leading up to the Dragon Boat festival in China. The decline in feedstock Butadiene prices and sluggish demand from downstream buyers, significantly reduced both upstream cost support and production costs of HDI. Additionally, the decline in input costs resulting from reduced consumption contributed to a reduction in production costs in Asia.
The global Hexamethylene Diisocyanate (HDI) market stood at approximately 250 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 5.36% during the forecast period until 2032. Hexamethylene Diisocyanate, also recognized as 1,6-Hexane Diisocyanate, represents a combustible liquid compound characterized by its pungent odour and chemical formula (CH2)6(NCO)2. With a melting point of 218K, it exhibits insolubility in cold water. The synthesis of HDI involves the reaction of carbon dioxide in a chlorobenzene solution to generate hexamethylene diamine formate. Subsequently, reacting with phosgene at low temperatures forms hexamethylene diamine-carbonyl chloride. The process continues with the decomposition of hexamethylene chloride at elevated temperatures, releasing HCl gas as a byproduct.
Hexamethylene Diisocyanate (HDI) is a versatile chemical compound widely employed in diverse industrial applications. As a crucial diisocyanate monomer, HDI plays a central role in the synthesis of polyurethane, finding applications in the production of resilient foams, coatings, adhesives, and elastomers. In the coatings and paints sector, HDI enhances durability, adhesion, and weather resistance, making it integral for automotive finishes, industrial coatings, and architectural paints. HDI contributes to the formulation of high-performance adhesives and sealants, providing strength, flexibility, and chemical resistance in applications ranging from construction to automotive assembly. Additionally, HDI is pivotal in the production of rigid polyurethane foams for insulation purposes in buildings, appliances, and refrigeration systems. Its use extends to textile coating, automotive interiors, electronic encapsulation, and footwear production, showcasing its versatility across various industries. With its diverse properties, HDI continues to be a valuable component, contributing to the quality, durability, and performance of a wide array of end products.
The primary market driver for Hexamethylene Diisocyanate (HDI) stems from its crucial role in the preparation of dental materials, medical adsorbents, and contact lenses. The utilization of HDI in these applications underscores its significance in the healthcare and medical sectors. Its use in dental materials ensures the production of high-quality and durable dental products. In medical adsorbents, HDI contributes to the formulation of materials that exhibit exceptional adsorption properties, meeting the stringent requirements of medical applications. Furthermore, HDI plays a vital role in the production of contact lenses, contributing to their comfort, durability, and overall performance. The demand for HDI in these healthcare applications positions it as a mainstay in the market, driven by the critical need for reliable and high-performance materials in the medical and dental industries. As a diisocyanate monomer, HDI plays a pivotal role in the production of resilient foams, coatings, adhesives, and elastomers. Its contribution to enhancing the durability, adhesion, and weather resistance of coatings makes it indispensable for automotive finishes, industrial coatings, and architectural paints. HDI's pivotal role in formulating high-performance adhesives and sealants further drives its demand in diverse applications from construction to automotive assembly. Additionally, its significance in producing rigid polyurethane foams for insulation in buildings, appliances, and refrigeration systems positions HDI as a driver in the market. The global Hexamethylene Diisocyanate (HDI) market size is anticipated to reach nearly 420 thousand tonnes by 2032.
Geographically, Asia Pacific region is poised to maintain a leading position in the global Hexamethylene Diisocyanate (HDI) market. The Asia Pacific region is likely to assert dominance in the Hexamethylene Diisocyanate (HDI) market due to a confluence of key business drivers. Robust industrialization, particularly in China and India, propels the demand for HDI across diverse sectors like construction, automotive, and electronics. The region's burgeoning construction industry, fueled by extensive infrastructure development and urbanization, fuels the requirement for HDI in essential applications like enamel coatings and producing polyurethanes. Simultaneously, the thriving automotive sector amplifies the market demand for HDI in automotive coatings and components. The rising disposable income in the region contributes to heightened consumer spending on goods such as electronics, where HDI-based materials play a significant role. Additionally, the expanding healthcare sector enhances the adoption of HDI in medical applications.
Based on the end-user industry, the global Hexamethylene Diisocyanate (HDI) market is divided into Healthcare, Chemical, Polymer, and Others. However, Healthcare industry dominates the global Hexamethylene Diisocyanate (HDI) market followed by Chemical industry.
Major players in the Global Hexamethylene Diisocyanate (HDI) market are Wanhua Chemical Group Co., Ltd, Covestro AG, Vencorex, Asahi Kasei Performance Chemicals Corp., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Hexamethylene Diisocyanate (HDI) which covers production, demand and supply of Hexamethylene Diisocyanate (HDI) market in the globe.
• To analyse and forecast the market size of Hexamethylene Diisocyanate (HDI)
• To classify and forecast Global Hexamethylene Diisocyanate (HDI) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Hexamethylene Diisocyanate (HDI) market in the globe.
To extract data for Global Hexamethylene Diisocyanate (HDI) market, primary research surveys were conducted with Hexamethylene Diisocyanate (HDI) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Hexamethylene Diisocyanate (HDI) market over the coming years.
ChemAnalyst calculated Hexamethylene Diisocyanate (HDI) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Hexamethylene Diisocyanate (HDI). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Hexamethylene Diisocyanate (HDI) manufacturers and other stakeholders
• Organizations, forums and alliances related to Hexamethylene Diisocyanate (HDI) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Hexamethylene Diisocyanate (HDI) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Hexamethylene Diisocyanate (HDI) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
250 thousand tonnes
Market size Volume in 2032
420 thousand tonnes
Growth Rate
CAGR of 5.36% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Healthcare, Chemical, Polymer, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was the net market size of Hexamethylene Diisocyanate (HDI) in terms of volume in 2022?
Ans:
The global market size of Hexamethylene Diisocyanate (HDI) had reached approximately 250 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Hexamethylene Diisocyanate (HDI)?
Ans:
Asia Pacific region is the leading consumer of Hexamethylene Diisocyanate (HDI) globally.
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