As per the latest report by IMARC Group, titled “N-Hexane Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global n-hexane market expected to exhibit stable growth during 2021-2026.
N-hexane, also known as hexane and hexyl hydride, is an aliphatic hydrocarbon that is procured from natural gas and crude oil. It can also be produced from sugar cane wastes by employing special catalysts. N-hexane is completely colorless with an unpleasant odor that is identical to petroleum. It is also highly flammable, possesses degreasing properties and comprises explosive vapors, owing to which it is mixed along with other solvents before being used in the manufacturing of different products. Furthermore, it is utilized in the form of an industrial chemical and laboratory reagent.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global N-Hexane Market 2021-2026 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the key players being Royal Dutch Shell PLC Royal Dut (RDS-A), Exxon Mobil Corporation (XOM), Rompetrol Rafinare, China Petrochemical Corporation (Sinopec Group) and Junyuan Petroleum Group.
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Global N-Hexane Market Trends:
N-hexane provides several advantages over other solvents, such as recyclability and cost-effectiveness. As a result, it is used as a key solvent in the manufacturing of various industrial and chemical products, which include paints, rubber, leather and polypropylene. The demand for these products is increasing around the world on account of rapid urbanization, growing global population and inflating income levels. In addition to this, n-hexane is widely utilized in vegetable oil extraction as it aids in removing odor and unwanted taste. The vegetable oil industry is mainly driven by the increasing demand for refined oils, which can be attributed to the rising health consciousness among consumers. N-hexane is also utilized in the pharmaceutical industry for several synthesis and separations, as well as for shaping pills and tablets.
Insights on Market Segmentation:
Market by Application
1. Edible Oil Extraction
2. Healthcare
3. Industrial Solvent
4. Adhesive Formulation
5. Others
Based on the application, the market has been classified into edible oil extraction, healthcare, industrial solvent, adhesive formulation and others. At present, edible oil extraction accounts for the majority of the total market share as it offers a high yield from oilseeds. Moreover, another advantage provided by n-hexane in oil extraction is its recyclability as it can be reused after the extraction process.
Market by Region:
1. Asia Pacific
2. Europe
3. North America
4. Middle East and Africa
5. Latin America
Region-wise, Asia Pacific represents the largest market. Other major segments include Europe, North America, Latin America, and Middle East and Africa.
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