Persistence Market Research report offers an eight-year forecast for the global n-Hexane market in a new publication titled “Global Market Study on n-Hexane: Oil Extraction End-Use Segment to Dominate Consumption over the Forecast Period ”. The report analyzes the global market in terms of volume (‘000 tons) and value (US$ Mn). The purpose of a report is to provide factors driving market growth, identifying trends and opportunities within segments, and insights to unearth potential within Global n-Hexane Market.
For market assessment, the global n-Hexane Market report is classified into three sections -- by grade, by application, and by region. The primary objective of this report is to provide information on key drivers, restraints, trends, major participants, and updates on developments in the n-Hexane market. The report studies the global n-Hexane market across five key regions, including North America, Latin America, Asia-Pacific, Middle East and Africa, and Europe. The report also covers key developments shaping the dynamics of the market and other insights across key segments. The report provides qualitative as well as quantitative information about global n-Hexane Market. The report starts with an n-Hexane market overview and provides a market definition, value chain analysis, drivers, restraints, opportunities, trends, and regulations for a global n-Hexane market. The sections that follow include market analysis and forecast, by grade, by application and by region, including country level information. To give a brief idea about revenue opportunities from product type, application, and region-wise segments, the report also provides volume (KT) data, absolute $ opportunity, and total incremental opportunity for each segment over the forecast period. All the above sections evaluate the market on the basis of various factors affecting the market, covering present scenario and future prospects.
Global n-Hexane market segmentation
By Grade Type
In the final section of a report, we have provided n-Hexane Market structure and a detailed competitive landscape with company market share and performance, to provide report audiences with a dashboard view of key players operating in the n-Hexane market, along with their key developments and long term plans.
To quantify the market size, an elaborate research methodology was adopted which involved in-depth secondary research, primary interviews and triangulation of the data thus gathered. Further, data inputs such as market split by segments and qualitative inputs from industry experts have been taken into consideration before concluding the market estimates. Each region based section highlights the n-Hexane market based on different categories in that region. To give a brief idea about revenue opportunities from various segments and region/country, the report also provides absolute $ opportunity and total incremental opportunity for each segment over the forecast period. For market data analysis, we have considered 2015 as the base year, with market numbers estimated for 2016 and the data forecast for 2016–2024.
The market size estimation is carried out through multiple top-down and bottom-up approaches. n-Hexane production data – historical and forecast -- is benchmarked to identify relative shares in the market and the market data range, thus received, has been validated through primary resources. We have also analyzed the different segments of the global n-Hexane market in terms of basis point share (BPS) to understand individual segments’ relative contribution to overall market growth. In addition, the report includes analysis of all the key segments in terms of absolute dollar opportunity. The overall absolute dollar opportunity as well as segment split is included in the report so as to understand key market segments in terms of growth and performance. Market attractiveness index helps to identify real market opportunities in the global n-Hexane Market. In the final section of the report, we have highlighted the global n-Hexane market structure and a detailed competition landscape and performance to provide report audiences with a dashboard view of some of the market participants operating in the n-Hexane Market.
There is a significant contribution of primary research in this report as many n-Hexane manufacturers have captive consumption of n-Hexane and they also sell it as a solvent in the market. We spoke to leading manufacturers, suppliers, and other stakeholders to unearth market potential, insights, trends and opportunities within segments. As per our study, the global n-Hexane market will be worth US$ 1.2 Bn by the end of 2016 and it will witness sustained growth during the forecast period.
Global n-Hexane market to increase in growth owing to an expanding oil extraction and polymer industry
n-Hexane is a volatile aliphatic hydrocarbon with chemical formula C6H14. n-Hexane which is also known as Hexane is derived from crude oil through thermal and catalytic cracking process. n-Hexane can dissolve many organic compounds and as a solvent being used in wide range of industrial applications. n-Hexane has been widely used as cost effective and easily evaporated non-polar solvent. It has been used in multiple industries such as food, pharmaceuticals, adhesives and sealants, textile, industrial cleaning and degreasing. n-Hexane can be easily removed from the edible oil and also recycled during the process. Hexane is also used as a solvent in resin production. Hexane has been used for various laboratory applications such as extraction, dilution and in liquid chromatography. It is also used as an additive in consumer products such as glue, varnishes and inks.
The global n-Hexane market is expected to register a CAGR of 5.7% in terms of value over the forecast period 2016–2024 primarily driven by rising edible oil demand and polymer industry.
Rising population coupled with increasing refined oil demand is likely to boost the demand for n-Hexane
n-Hexane being an effective edible oil extraction agent, offers high yield from a variety of seeds. As easy recycling makes it irreplaceable in oil extraction. n-Hexane holds the dominant position for oil extraction. Rising population coupled with increasing refined oil demand is likely to boost the demand for n-Hexane globally. N-Hexane has special properties, such as of removing unwanted taste and odor. This uniqueness is likely to drive the demand of n-Hexane in edible oil industry. As a special-purpose solvent, it is being used in multiple industries such as cleaning, adhesives and sealants, pharmaceutical, textile, among others. Increasing demand of n-Hexane from the end-use industries as a result of economic growth, especially in emerging markets such as China and India are expected to grow the global n-Hexane market during the forecast period. However, rising environmental concerns and public awareness pertaining to release of Volatile Organic Compounds from n-Hexane based products may limit the growth of this market during the forecast period. Hexane-free industrial products are gaining popularity in developed countries.
n-Hexane holds the dominant position for oil extraction which will add fodder to the growth of the n-Hexane market across the continents
Extraction grade is expected to hold over half of the total market share in global n-Hexane market followed by industrial grade. Oil Extraction segment is expected to dominate the Global n-Hexane market in terms of both value and volume through 2024. In terms of value, extraction grade is expected to grow significantly with a CAGR closed to 6% during the forecast period. Pharmaceutical and industrial segments in the global n-Hexane market are expected to witness steady growth in terms of market value.
On the basis of application, Global n-Hexane market is segmented into Oil Extraction, Pharmaceutical, Polymerization, Industrial Cleaning & Degreasing, Adhesives and Sealants, and Rubber Processing. Oil extraction followed by polymerization application is anticipated to register a significant value CAGR of more than 5% for both the segments during the projected period.
Asia Pacific is expected to be the fastest growing regional market during the forecast period
On the basis of geography, Asia Pacific is expected to be the fastest growing region registering a value CAGR of more than 6% during 2016–2024. Asia Pacific accounts for the largest share for n-Hexane market globally. This is the largest consuming and fastest growing region owing to rapid industrialization coupled with rising food demand from emerging economies such as China and India over the forecast period. Latin America is expected to witness relatively faster growth, registering a value CAGR of 6.2% during forecast period. Moderate demand for n-Hexane is anticipated from mature market like North America and Europe.
Key market players operating in the global n-Hexane market
Some of the Key players operating in global n-Hexane market include Exxon Mobil Corporation, Royal Dutch Shell plc., Chevron Philips Chemicals LLC, Indian Oil Corp. Ltd., Rompetrol Rafinare S.A, Bharat Petroleum Corp. Ltd., DHC Solvent Chemie GmbH, Sak Chaisidhi Company Limited, Hindustan Petroleum Corp. Ltd., Dongying Liangxin petrochemical company, Liaoning Yufeng Chemical Co., Ltd..