The new report by Expert Market Research titled, ‘Global N-Hexane Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global n-hexane market, assessing the market based on its segments like applications and major regions. 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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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): 75 million tons
- Forecast CAGR (2021-2026): 1%
- Forecast Market Size (2026): 18 million tons
The n-hexane market is being driven by the rising demand for n-hexane, owing to the thriving food processing industry. N-hexane is used to extract edible oils from seeds and vegetables and is also known to be a special-use solvent. Over the forecast period, the anticipated rise in the demand for the food and beverage industry, owing to the rising population and the growing inclination of people towards health and fitness is likely to be a major factor propelling the growth of the n-hexane market. The market will further be aided by the rising demand for the commercial grades of hexane for the manufacturing of glues, varnishes, and inks. Therefore, the booming construction industry in the emerging economies of the world is likely to provide impetus to the n-hexane market in the forecast period. In terms of region, the Asia Pacific occupies the largest share in the market, and is likely to maintain its dominance over the forecast period as well.
Industry Definition and Major Segments
N-hexane is a highly volatile hydrocarbon and an ozone precursor. It is an organic compound with a straight-chain alkane having six carbon atoms and has a molecular formula C6H14. It is obtained by refining the crude oil.
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The significant applications of n-hexane include:
- Edible Oil Extraction
- Industrial Solvent
- Adhesive Formulation
Among these, the edible oil extraction segment accounts for the largest share in the market.
The regional markets for n-hexane include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Among these, the Asia Pacific accounts for the largest share in the market.
The growing concerns and rising investments, along with the favourable policies of the government towards waste water management, are expected to aid the global n-hexane market. Furthermore, the strong growth of the food processing and food and beverage industry in countries like India and China, owing to the rising population, growing urbanisation, and the growing sales of clean-labelled food products, is expected to contribute to the industry growth. The technological advancements in the textile manufacturing are likely to be another major trend in the market over the forecast period.
Key Market Players
The major players in the 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.
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