Global hexane demand is projected to grow at a healthy CAGR of 3.21% during the forecast period. Hexane is a colourless fluid with a relatively low and narrow boiling range. It has low odor and quick drying properties. It is able to dissolve in many organic compounds and evaporate easily which makes it good solvent and diluent for a wide range of industrial applications. Structurally hexane has three isomers including n-hexane, iso hexane and neo hexane. Out of the three, n-hexane is the most sought after isomer of hexane. Depending upon the concentrations of n-hexane and purity there are two grades of hexane namely polymerization grade and food grade. The polymerization grade is used as a reaction medium for polymerization process. The extraction grade is used to extract edible oils which is the major application of hexane. The key application areas for hexane include polymerization process, specialist coatings and adhesives, pharmaceutical and food extraction, industrial cleaning and degreasing, textile and rubber manufacturing etc. Growing demand of edible oil coupled with the increasing demand of industrial solvents from the paints and adhesives industry is expected to drive the demand of hexane during the forecast period. Moreover, Availability of safer alternatives for oil extraction such as cyclohexane is expected to somehow hinder the market growth.
Due to impact of COVID-19, hexane demand has declined drastically due to nationwide lockdowns and subsequent disruptions in supply chains. Construction and automotive sectors were the most severely hit sectors during the pandemic which had an impact on paints and adhesives industry which have application of hexane as solvent. However overall good demand growth has been observed in China from the manufacturing sector due to continuation of production activities after the lockdowns.
Regionally, Asia Pacific region holds the major share of global demand for hexane due to growing demand for edible oils and commercial and residential construction and automotive sector. With the rising demand of end use industries including edible oil extraction, many companies have set up their manufacturing base in this region thereby increasing the overall production capacity. Increasing population and per capita income in emerging economies is another factor propelling demand growth for hexane in Asia Pacific.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
Objective of the Study:
•To assess the demand-supply scenario of hexane which covers production, demand and supply of hexane market globally.
•To analyse and forecast the market size of hexane .
•To classify and forecast global hexane market based on technology, end-use and regional distribution.
•To identify drivers and challenges for global hexane market.
•To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global hexane market.
•To identify and analyse the profile of leading players involved in the manufacturing of hexane.
Major players for hexane globally include Bharat Petroleum Corporation Limited, HPCL, Indian Oil Corporation Ltd, Exxon Mobil Corporation, Jun Yuan Petroleum Group, Merck KGaA, Liaoning Yufeng Chemical Co. Ltd, Phillips 66 Company, Royal Dutch Shell Plc, Rompetrol-Rafinare, Sumitomo Chemical Co., Ltd., and Others.
To extract data for global hexane market, primary research surveys were conducted with hexane manufacturers, suppliers, distributors, wholesalers and end users. 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 end user segments and projected a positive outlook for Global hexane market over the coming years.
ChemAnalyst calculated hexane demand globally by analyzing the historical data and demand forecast which was carried out considering imported hexane, prices, materials used for production of hexane . 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:
• hexane manufacturers and other stakeholders
•Organizations, forums and alliances related to hexane 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 hexane 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.
In this report, global hexane market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by End Use
Construction, Automotive, Food, Rubber Processing, Textile.
Market, by Application
Polymerization Process, Specialist Coatings and Adhesives, Pharmaceutical and Food Extraction, Industrial Cleaning and Degreasing, Textile and Rubber Manufacturing
Market, by Sales Channel
Direct Company Sale, Direct Import, Distributors & Traders, Retailers
Market, by Region
North America, APAC, Europe, MEA, South America
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