Global Hexamine Market Expected to Reach $664.03 Million by 2028, Fueled by Growing Demand in Pharmaceutical, Agrochemical, and Plastics Industries

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Sep 14, 2023, 06:15 ET

DUBLIN, Sept. 14, 2023 /PRNewswire/ -- The "Global Hexamine Market Report and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global hexamine market was worth USD 525.8 million in 2022 and is set to grow at a 4.2% CAGR, reaching an estimated USD 664.03 million by 2028.

Hexamine, also known as hexamethylenetetramine, is a compound made from ammonia and formaldehyde. Its demand is on the rise in several sectors, notably in the pharmaceutical, agrochemical, and plastics industries.

One main reason for the growing demand is its use in making resins for products like laminates and plywood. These resins are popular because they bond well and resist heat.

In the pharmaceutical industry, hexamine is used to make important drugs like antibiotics and antimalarials. As the need for these drugs grows because of rising global health concerns, so does the demand for hexamine.

Another boost for the hexamine market is its use in the farming industry. As the world's population grows, so does the need for farming chemicals like herbicides and insecticides, which use hexamine.

Additionally, the defense and space industries use hexamine to make explosives and rocket fuel.

Market Segments:

By Grade:
- Stabilised
- Unstabilised
By Application:
- Polymer and Plastics
- Personal Care
- Pharmaceuticals
- Adhesives and Sealants
- Leather and Textile
- Paper
- Mining Explosives
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa

Competitive Overview:

The report gives details on the market shares, production capacity, and business moves of global hexamine companies. Key players include Kanoria Chemicals & Industries Ltd, Mitsubishi Gas Chemical Company, Inc, Hexion Inc, Methanol Chemicals Company (Chemanol), and Simalin Chemical Industries Pvt Ltd, among others.

For more information about this report visit https://www.researchandmarkets.com/r/14peph

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SOURCE Research and Markets