Use of n-Hexane as a Special Purpose Solvent and in Synthesis and Separation in the Pharmaceutical Industry Supports Its Demand from Various End-Use Industries
The n-hexane market report covers comprehensive information on the trends prevalent in the n-Hexane market and volume (KT) & value (US$ Mn) projections. Additionally, it also provides information regarding recent developments in the market as well as market dynamics. The n-hexane market report also includes a competition dashboard for the period 2018 to 2026.
The global n-hexane market is estimated to register a CAGR of 4.5% between 2018 and 2026 and the market is expected to reach US$ 2,967.1 Mn by the end of 2026. Some of the key factors expected to fuel the growth of the n-hexane market include increasing disposable income in emerging economies and favorable government initiatives promoting the growth of end-use industries.
Applications across a Diverse Set of Industries
n-Hexane is used in several end-use industries as a special purpose solvent for various applications such as pharmaceuticals, textiles, adhesives and sealants. The increasing demand for n-Hexane from end-use industries propels the growth of the n-Hexane market. n-Hexane is also used for various synthesis and separations in the pharmaceutical industry. Thus, the pharmaceutical industry is expected to account for significant n-Hexane demand.
Significant Growth from China
China is pegged to be a fast growing region in terms of the consumption of n-Hexane. Increasing population and growth in the demand for refined oil are likely drive the growth of the n-hexane market in the coming future. In addition, the ability of n-Hexane to dissolve many organic compounds and its low water solubility make it a suitable solvent in a variety of industrial applications. China is a prominent market for n-Hexane and is expected to register a 5.5% value CAGR over forecast period 2018–2026.
Moderate Demand from Mature Markets
Being relatively mature markets, developed regions such as North America and Europe are anticipated to register moderate growth rates in the global n-Hexane market. In addition, companies from these regions are shifting their manufacturing bases to India and China, owing to the large customer base and availability of skilled labor at low cost in these regions. The use of n-Hexane for adhesive applications is likely to be one of the key growth areas delivering superior product performance.
Growing Consumption in Developing Regions
The demand for n-Hexane in developing regions such as China is expected to witness significant growth during the forecast period. The favorable properties of n-Hexane in removing unwanted taste and odor are expected to create positive growth momentum for n-Hexane in the edible oil industry. In addition, rising demand for n-Hexane as a cleaning agent in various industries such as textile and cleaning is likely to support the demand for n-Hexane in the coming years.
Hexane copolymer LLDPE film resin, which possesses outstanding tensile properties, stiffness and toughness, registered high demand across Europe in 2014. Dow Chemicals launched C6-based resins by switching some of its C4-based PE lines in Mexico as the former deliver superior performance.
n-Hexane Market – Competitive Landscape
The global n-Hexane market is highly fragmented and the top five key players in the n-Hexane market are estimated to hold more than two-thirds of the market volume share in 2018. In addition, small players are planning to invest in R&D to introduce new grades in the n-Hexane market.
During the last decade, the n-hexane market witnessed productive developments. Capacity expansions, collaborations and acquisitions are some of the key strategies opted by key producers to sustain in the global n-hexane market.
Some of the prominent players covered in this study on the n-Hexane market are ExxonMobil Corporation, Royal Dutch Shell PLC, ndian 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.
Key Questions Answered in the Global n-Hexane Market Report
n-Hexane Market: Report Description
Persistence Market Research’s newly published report conducts a deep-dive analysis and offers a forecast for the global n-hexane market for the assessment period of 2018 to 2026. The n-hexane market study considers 2017 as the base year and offers a forecast for the period between 2018 and 2026. The Compound Average Growth Rate has been represented for eight years. This Persistence Market Research study offers key insights on the n-hexane market. Additionally, the report covers qualitative insights, which include market dynamics, value chain analysis, key trends, pricing analysis, competition analysis, region and segment level growth, forecast factors, macroeconomic factors and related industry growth factors. It also covers quantitative aspects, which include global and regional market value (US$ Mn) and volume (KT). On the basis of value, the global n-hexane market is expected to expand at a CAGR of 4.5% between 2018 and 2026.
In this PMR report, the n-hexane market has been studied at a global as well as regional level with segmentation on the basis of purity, grade, application and region. The primary objective of the report is to offer key market insights, market dynamics, competition analysis, opportunity analysis, growth factors and key statistics.
n-Hexane is a volatile aliphatic hydrocarbon that is flammable in nature and has a faint odour. The chemical formula of Hexane is C6H14; thus, n-Hexane is an alkane surrounded by six carbon atoms. n-hexane, also known as Hexane, is derived from crude oil through the thermal and catalytic cracking process. Hexanes are colorless liquids at room temperature and have boiling points ranging between 50°C and 70°C. n-hexane can dissolve many organic compounds and thus, finds a wide range of industrial applications as a solvent.
In terms of application, n-hexane is used in multiple end-use industries such as adhesives & sealants, pharmaceuticals, polymers, oil extraction and rubber processing. n-hexane plays a key role in the oil extraction process for the extraction of oil from vegetables & seeds. Another key application of n-hexane is as a solvent in the manufacturing of resins. It is also used as an additive in consumer-based products such as inks, glue and varnishes.
The n-hexane market report has been designed such that readers can develop a thorough understanding of the market. The n-hexane market report starts with an executive summary, followed by the market definitions, market taxonomy and market background, market analysis by key segments, regional analysis, and competition landscape. Each section of the report covers a qualitative and quantitative study of the n-hexane market on the basis of historical developments, key opinions of industry experts and current trends in the n-hexane market.
n-Hexane Market: Segmentation
The next section of the n-hexane market report starts with an introduction of the parent market, market taxonomy and definitions with respect to the global n-hexane market. In addition, the report covers qualitative and quantitative information, which includes macroeconomic factors, growth factors, weighed average prices analysis, value chain and other related key information.
Macroeconomic factors affecting the n-hexane market include GDP and industrial growth, global solvent market growth, pharmaceutical industry growth and global chemical sales. For the weighted average pricing analysis, pricing data has been gathered at a wholesale level and obtained from various sources, including trade websites, Exim data and retailers during primary and secondary research and benchmarked for regional level value. Average pricing data, based on grades, has been taken into consideration to arrive at the market values. The anticipated decline or increase in prices during the forecast period has been based on historic market trends and kept linear across regions.
The next section of the report offers key insights on value chain analysis and market dynamics (both from supply and demand side) such as market drivers, challenges, trends and opportunities at a global level. Additionally, key opportunities for manufacturers have also been included in the subsequent sections of each section.
The forecast on the n-hexane market has been derived on the basis of a triangular research methodology, which comprises primary research interviews with industry experts, secondary research based on public domains, industrial association reports_bk_01_01_2020, financial data, etc. and our own analysis.
The subsequent sections of the n-hexane market report provide volume (KT) and value (US$ Mn) projections for the above mentioned segments at a regional and global level. In addition, the market report covers unique analysis frameworks, which include incremental $ opportunity, year-on-year (Y-o-Y) growth, absolute $ opportunity, market attractiveness analysis and basis point share (BPS) analysis for the each of the segments at a regional as well as global level. The global n-hexane market values signified in these sections have been agglomerated by gathering data and key statistics at a regional and global level.
In the concluding section of the n-hexane market report, a competitive landscape with dashboard view has been presented, categorized on the basis of manufacturers present in the value chain and their presence in the n-hexane market. The report covers key manufacturers around the globe and their revenue share in the n-hexane market. Detailed profiles of key providers have also been included in the report to evaluate the key strategies and recent developments of manufacturers present in the n-hexane market. Examples of some of the key competitors covered in the report on the n-hexane market include ExxonMobil Corporation, Royal Dutch Shell PLC, ndian 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, among others.