The new report by Expert Market Research titled, ‘Global N-Hexane Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global n-hexane market, assessing the market based on its segments like applications and major regions.
N-Hexane Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028):3.1%
|Market Size in 2020||USD 1.75 million|
|Revenue Forecast in 2026||USD 2.18 million|
|Growth Rate CAGR||3.1%|
|Major Players||Royal Dutch Shell plc, Exxon Mobil Corporation, GFS Chemicals, Inc.,
Junyuan Petroleum Group, Others
The increasing demand for n-hexane for the extraction of edible oil owing to the thriving food and beverage industry, increasing population, and rising disposable income is augmenting the market growth. Over the forecast period, the increasing demand for solvents of n-hexane as cleaning agents in industries ranging from printing and textiles to shoemaking and furniture, is anticipated to spearhead the market growth.
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The n-hexane market is anticipated to be aided by the rising demand for n-hexane for the production of soaps and detergents owing to the increasing sales of premium packaged home cleaning products. Regionally, Asia Pacific accounts for a significant share in the market due to high populations in India and China, generating a significant demand for its downstream products.
N-Hexane Industry Definition and Major Segments
N-hexane is defined as a saturated aliphatic hydrocarbon that is colourless and volatile. It is majorly used in the extraction process of vegetable oil from crops and seeds. Moreover, it exhibits excellent solubility with alcohol and is transparent. It is applied in a number of industries as a degreasing agent.
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On the basis of application, the n-hexane market can be segmented into:
- Edible Oil Extraction
- Adhesive Formulation
- Industrial Solvent
The regional markets for n-hexane include:
- Asia Pacific
- North America
- Latin America
- Middle East and Africa
N-Hexane Market Trends
The key trends in the n-hexane market include the growing R&D activities in the pharmaceutical industry, which is propelling the demand for the compound. The increasing application of n-hexane for the production of tablet moulds is anticipated to augment the market in the coming years.
N-hexane is crucial in the production of wastewater treatment chemicals. In this regard, the rising investments in wastewater treatment projects are anticipated to propel the demand for n-hexane in the forecast period. Moreover, the thriving e-commerce industry is likely to accelerate the utilisation of downstream products of n-hexane, which is likely to bolster the n-hexane market growth in the forecast period.
Key Market Players
The major players in the n-hexane market are Royal Dutch Shell plc, Exxon Mobil Corporation, GFS Chemicals, Inc., and Junyuan Petroleum Group, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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