Global n-Hexane Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032
The global n-Hexane demand stood at approximately 1300 thousand tonnes in 2022 and is expected to grow at a CAGR of 3.24% during the forecast period until 2032.
n-hexane is a volatile aliphatic hydrocarbon that can be synthesized using both natural gas and crude oil using the fractional distillation process. By using specific catalysts, it can also be produced from sugar cane waste. For a variety of seed crops, including soybeans, cottonseed, rape seed, mustard seed, peanuts, flax (linseed), safflower seed, and corn germ, n-hexane is primarily utilized as an edible-oil extractant. These seed crops are further processed into foods for humans and animals. Other significant applications for n-Hexane as a special-purpose solvent and cleaning agent (degreaser) include the production of textiles, footwear, leather, and furniture. n-hexane may be present in a variety of glues, adhesives, and leather-dressing preparations, particularly those used in the manufacturing of shoes. In addition, the pharmaceutical sector is one of the biggest consumers of n-hexane due to its use in numerous syntheses and separations, as well as the shape of pills and tablets.
During the course of the projection period, n-high Hexane's demand from the food industry is anticipated to fuel market expansion. Because it provides excellent yield from a variety of seeds, n-hexane is frequently employed as an extraction agent for edible oils. This is anticipated to result in significant demand from the food industry for n-Hexane. Furthermore, the application of n-Hexane for manufacturing adhesives and sealants which have applications in various industries also contributes to the n-Hexane market expansion. The size of the global n-Hexane market in terms of volume is estimated to reach nearly 1800 thousand tonnes by 2032.
Based on region, Asia Pacific is dominating the global n-Hexane market, followed by Europe. In 2022, Asia Pacific held a market share of more than 50% of the global n-Hexane. Accelerating demand for refined oil for cooking purposes in developing countries like India and China is majorly contributing to the n-Hexane market. In terms of production, the Asia Pacific region is again dominating the global n-Hexane market.
Based on the end-user industry, the global n-Hexane market is segmented into Edible Oil Extractant, Adhesives & Sealants, Paints & Coatings, Industrial Solvent, and Others. Among these, the Edible Oil Extractant sector is in the lead and held approximately 45% of the market share in 2022. Additionally, the Adhesives & Sealants sector is also a prominent consumer of the n-Hexane market.
Major players in the production of Global n-Hexane are KazmunayGas International, ExxonMobil Chemical, Indian Oil Corporation Limited, Chennai Petroleum Corporation Limited, Jun Yuan Petroleum Group, Bharat Petroleum Corporation Limited, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
To extract data for Global n-Hexane market, primary research surveys were conducted with n-Hexane 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 n-Hexane market over the coming years.
ChemAnalyst calculated n-Hexane demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce n-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.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as n-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 n-Hexane market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
With the given market data, ChemAnalyst offers customizations according to a company's specific needs.
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