Photomatix is a photo processing and editing software application developed by HDRsoft. It is used to combine multiple images with different exposures into a single image with high dynamic range (HDR). This process is known as tone mapping. The resulting image has an extended range of colors and details that cannot be obtained with a single exposure. Photomatix can also be used to create special effects such as faux HDR, black & white, and tinting. In addition, users can also adjust details such as color balance, saturation, contrast, and sharpening.
Contrary to what some people say, Hugin is also capable of HDR stitching. Not bad for making HDR panoramas.
Photomatix is for exposure fusion, 360 Panorama is for panorama fusion.
Photomatix is for creating HDR images. Hugin is for creating panoramas. Both photo apps, but each is for a specific and different purpose.