n-Hexane Market Growth and Key Influencing Players
The global n-Hexane market is projected to reach around US$ 2,189.6 million by the end of 2027, in terms of revenue, growing at CAGR of 5.8% during the forecast period (2019-2027).
n-Hexane is primarily used to extract vegetable oil from crops and seeds and it is widely used with the other solvent. It is basically produced from crude oil and possess excellent properties of solubility with alcohol and is transparent in nature. They are used in the production of adhesives and sealants which have a wide range of industrial application. Moreover, they are also used as an industrial and degreasing agent. n-hexane is also used as a solvent across other industries such as rubber, leather, printing, cosmetics, ink, etc.
Coherent Market Insights have included a latest addition of global market research report titled n-Hexane Market to its expansive repository. The report studies primary and secondary research in order to analyze the data effectively.
Top Key Players in n-Hexane market: ExxonMobil Corporation, Royal Dutch Shell PLC, Indian Oil Corp. Ltd., Chevron, Phillips Chemical Company LLC, Bharat Petroleum Corp. Ltd., Rompetrol Rafinare S.A., Hindustan Petroleum Corporation Limited, Dongying Liangxin petrochemical company, Liaoning Yufeng Chemical Co., Ltd., DHC Solvent Chemie GmbH, and Sak Chaisidhi Company Limited
The scope of the Report:
The report segments the global n-Hexane Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the global n-Hexane Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.
Market Restraints
Shifting consumer preferences from refined oil to cold-pressed oil and it is a natural way to produce oil which does not contain preservatives and solvent residues. This is expected to hinder the market growth. Moreover, the availability of substitute such as Isohexane, a hexane isomer is used across a few oilseed extraction applications owing to the hazardous nature of n-Hexane. This is projected to hamper market growth.
Key Takeaways:
On the basis of the grade, oil extraction segment dominated the global n-Hexane market in 2018 with a 57.2% of market share in terms of value, followed by industrial and pharmaceutical.
Market Trends
Growth in the paint &coatings industry is expected to accelerate the market growth over the forecast period. Growing production of paints and coatings due to expanding construction industry is a major factor propelling the demand for n-Hexane this, in turn, is accelerating the market growth of n-Hexane over the forecast timeframe.
Rapid industrialization and urbanization coupled with the expanding healthcare facility around the globe are expected to foster the market growth n-Hexane. Rising demand for leather and rubber products is also expected to accelerate the market growth of n-Hexane. All these factors are projected to fuel market growth over the forecast period.
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