Hexane Market is Projected to Grow at a CAGR of 3.21% by 2030
According to ChemAnalyst report,
“Hexane
Market: Plant Capacity, Production, Operating Efficiency, Demand &
Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade,
Customer & Price Intelligence Market Analysis, 2015-2030”, hexane
market has shown promising growth in the past five years and is anticipated to
achieve a CAGR of 3.21% during the forecast period. 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.
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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.
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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. Owing to the 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.
Hexane is majorly related to
crude oil and natural gas hence the price is linked to the variations in the
prices of crude oil and natural gas. Prices are linked to the prices of the
crude oil as hexane is a by-product of cracking of petroleum into
gasoline. In the first half of FY20
sudden outbreak of novel coronavirus followed by a fall in in the demand of
crude oil due to nationwide lockdowns rendered a major fall in the global
hexane, hence the prices remained low for hexane during the coronavirus
pandemic.
Region wise, 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.
Increasing population and per capita income in emerging economies is another
factor propelling demand growth for hexane in Asia Pacific.
Key Players:
·
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.
“Having endues application in
Food industry, the hexane industry has shown a robust growth alongside growing
population and changing consumer preference. China serves as the key growth
region with sufficiently installed capacities for hexane. Major players are
anticipating that there will be sufficient demand supply gaps in the future
given that the global population is on the rise at a steady rate which will
rise the demand for edible oils which require hexane for extraction.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm promoting ChemAnalyst.
Report Scope:
In this report, global hexane market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute |
Details |
Growth Rate |
CAGR of 3.21 from 2021 to 2030 |
Base year for estimation |
2020 |
Historic Data |
2015 – 2019 |
Forecast period |
2022 – 2030 |
Quantitative
units |
Revenue in USD million/billion and CAGR from 2021 to
2030 |
Report coverage |
Revenue forecast,
demand & supply, competitive analysis, competitive landscape, growth
factors, and trends |
Segments covered |
1. End Use (Construction, Automotive, Food, Rubber Processing, Textile.) 2. Application (Polymerization Process, Specialist Coatings and Adhesives, Pharmaceutical and Food Extraction, Industrial Cleaning and Degreasing, Textile and Rubber Manufacturing) 3. Sales Channel (Direct Company Sale, Direct Import, Distributors & Traders) |
Regional scope |
North America;
Europe; Asia Pacific; South America; Middle East & Africa |
Country scope |
United States; Mexico; Canada; China; India; Japan;
South Korea; Taiwan; Germany; Belgium; France; United Kingdom; Spain; Italy;
Sweden; Saudi Arabia; South Africa; Brazil; |
Key companies profiled |
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 |
Customization
scope |
Free report customization with purchase. Addition or
alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized
purchase options to meet your exact research needs. Explore purchase options |
1.
Global Hexane Market Outlook, 2015-2030
1.1.
Capacity, By Volume
1.1.1.
By Region
1.2. Production
1.2.1.
By Region
1.3. Operating Efficiency
1.3.1.
By Region
2. Global Hexane Demand Outlook, 2015-2030,
By Volume
2.1. By Application (Polymerization Process,
Specialist Coatings and Adhesives, Pharmaceutical and Food Extraction, Industrial
Cleaning and Degreasing, Textile and Rubber Manufacturing)
2.2. By End Use (Construction, Automotive, Food,
Rubber Processing, Textile)
2.3. By Region
2.4. By Company
3. North America Hexane Market Outlook,
2015-2030
3.1. Capacity, By Volume
3.1.1.
By Country
3.2. Production
3.2.1.
By Country
3.3. Operating Efficiency
3.3.1.
By Country
4. North America Hexane Demand Outlook,
2015-2030, By Volume
4.1. By Application
4.2. By End Use
4.3. By Country
4.4. United States Hexane Market Outlook,
2015-2030
4.4.1.
Capacity, By Volume
4.4.1.1. By Company
4.4.1.2. By Location
4.4.2.
Production
4.4.2.1. By Company
4.4.3.
Operating Efficiency
View Detail TOC @ https://www.chemanalyst.com/industry-report/hexane-market-610
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