Global Market Study on n-Heptane: Usage of High Purity Grades in Pharmaceutical Applications to Drive Growth
n-Heptane Market Segmented By Pharmaceuticals, Paints and Coatings Electronics, Adhesives and Sealants, Plastic and Polymers Application
The report covers inclusive information about market trends, volume (Tons) and value (US$ Mn) forecasts, market dynamics, competition and recent developments in the global N-Heptane market for the study period 2018 to 2026.
The global n-Heptane market is estimated to be valued at US$ 573.5 Mn by 2018 end and is expected to reach US$ 870.6 Mn by the end of 2026, expanding at a CAGR of 5.4% over the forecast period. The global n-Heptane market is anticipated to represent an incremental opportunity of US$ 297.1 Mn between 2018 and 2026. Growth of end use industries such as pharmaceuticals, paints & coatings, plastic & polymer, and adhesives & sealants, among others is pegged to drive the growth of the n-Heptane market during the forecast period
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- Exxon Mobil Corporation
- Royal Dutch Shell plc.
- SK Global Chemical Co., Ltd.
- Haltermann Carless Deutschland GmbH
- Chevron Phillips Chemical Company
- Sankyo Chemical Co. Ltd.
- Hanwha Total Petrochemical Company Limited
- DHC Solvent Chemie GmbH
- Mehta Petro-Refineries Limited
- Merck Millipore Limited
- Gadiv Petrochemical Industries Ltd.
- Chuzhou Runda Solvents Co.
n-Heptane Market: Introduction
n-Heptane is a straight chain organic compound that belongs to the alkane hydrocarbon family. It is a colorless liquid with typical petroleum odor and a volatile organic compound. n-Heptane is a non-polar solvent that is widely used in several industries such as pharmaceuticals, paints & coatings, electronics, polymer & plastic, adhesives & sealants, textile and industrial cleaning, among others. It is also used as a test fuel component in anti-knock engine testing. n-Heptane is mainly classified on the basis of purity into <95%, 95-99% and ≥99%. It is also used in niche applications such as catalyst preparation, chromatography and other lab scale operations.
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n-Heptane Market to Witness High Growth over the Forecast Period
The global n-Heptane market is expected to witness significant growth during the forecast period, mainly driven by the rapid growth of pharmaceutical and paints & coating industries. The increasing consumption of electronic goods due to the rising disposable income and higher standards of living is expected to surge the demand for n-Heptane. Growing automotive production and increasing building & construction activities are collectively fueling the growth of the paints & coating industry, which in turn is driving the n-Heptane market. Growth of the pharmaceutical industry is increasing the demand for high purity n-Heptane market.
The rising demand from other industries such as plastic & polymer and adhesives & sealants is also positively impacting the growth of the n-Heptane market. The growing number of regulations on solvents such as aromatic solvents are driving the demand for n-Heptane. Rising production capacity and increasing efficiency of plants are also boosting the n-Heptane market.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
China to Dominate the Global n-Heptane Market over the Forecast Period
On the basis of country/region, China is expected to dominate the global n-Heptane market over the forecast period. The growth of end use industries in China is expected to drive the growth of the n-Heptane market in the country. The Asia Pacific Excluding Japan & China region is expected to witness lucrative growth over the forecast period, driven by countries such as India & South Korea. North America and Europe are estimated to be matured markets for n-Heptane and are thus expected to witness sluggish growth over the forecast period. The increasing construction activities, owing to urbanization in Latin America, are expected to mark Latin America as a growing market for n-Heptane.
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n-Heptane Market: Competition Landscape
The global market of n-Heptane is consolidated in nature with 4 to 5 market player holding a significant market share. Globally, the top 5 market players will collectively account for 40% to 50% of the market share. Expansion, acquisition, joint venture and collaboration are among the key strategies adopted by key players to expand and sustain in the global n-Heptane market. Some of the key developments are:
- In 2017, Exxon Mobil announced the expansion of its global hydrocarbon fluids capacity by 250,000 Tons per year. The expansion will provide higher volumes of Exxsol series
- In 2014, Exxon Mobil announced the expansion of its Specialty Hydrocarbon fluid production in Singapore & Antwerp
- In 2013, Exxon Mobil’s Singapore Plant expanded its operations to increase the company’s production capacity for various chemicals
n-Heptane Market: Key Participants
Some of key market participants identified in the global n-Heptane market are:
Exxon Mobil Corporation, Haltermann Carless Deutschland GmbH, Hanwha Total Petrochemical Company Limited, Chevron Phillips Chemical Company, Royal Dutch Shell Plc., SK Global Chemical Co., Ltd. and Sankyo Chemical Co. Ltd., among others.
Key Questions Answered in the Report
- How has the n-Heptane market evolved in the past four years?
- What shape is the n-Heptane market expected to take in terms of volume and value during the study period?
- What are some of the prevailing market dynamics in the n-Heptane market?
- What are the competition developments and trends in n-Heptane market?
- What are some of the underlying macro-economic and industry factors impacting the growth of the n-Heptane market?
- What are the important key challenges, opportunities and improvement factors for market players?
- What are the important market positioning and key strategies of key manufacturers as per the market taxonomy?
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