N-Hexane Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

N-Hexane Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global n-hexane market size reached US$ 2,549.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 3,143.2 Million by 2028, exhibiting a growth rate (CAGR) of 3.45% during 2023-2028.

N-hexane is a volatile aliphatic hydrocarbon which is obtained from crude oil and natural gas. It can also be synthesized from sugar cane wastes by using special catalysts. It is colorless in the purest form with a slightly unpleasant odor. It is highly flammable in nature and possesses explosive vapors due to which it has to be mixed with other solvents prior to use in the production of different products. It is commonly used in the form of an industrial chemical and laboratory reagent. Solvents containing n-hexane are also used for extracting vegetable oils from oilseeds such as sunflower, corn and soybeans

Market Drivers:
N-hexane is widely used as a primary solvent for industrial and chemical products such as leather, paint, polypropylene and rubber. Growth in the sales of these products is expected to drive the demand for n-hexane during the forecast period. Apart from this, the pharmaceutical industry represents one of the largest consumers of n-hexane as it used for shaping pills and tablets along with use in various synthesis and separations. Moreover, it offers multiple advantages over other solvents such as cost-effectiveness and recyclability. Additionally, it is easy to remove it from solids and oil owing to which there has been an apparent shift towards its use in different applications.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global n-hexane market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on application.

Breakup by Application:

Edible Oil Extraction
Healthcare
Industrial Solvent
Adhesive Formulation
Others

At present, n-hexane is majorly used as an edible oil extractant as it provides a high yield from oilseeds. Another advantage it offers in oil extraction is its recyclability as it can be reused after the extraction process. It also removes unwanted taste and odor from the oil, unlike other extraction agents.

Regional Insights:

Asia-Pacific
Europe
North America
Middle East and Africa
Latin America

On the geographical front, Asia-Pacific represents the largest regional market. This can be attributed to the increasing population and growing demand for refined oil in countries like China and India.

Competitive Landscape:
The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

Rompetrol
Royal Dutch Shell PLC
Exxon Mobil Corporation
China Petrochemical Corporation
Junyuan Petroleum Group

The essential aspects of the global n-hexane market evaluated in the report include:

Market Trends
Major regions
Impact of COVID-19
Key application areas
Key manufacturers
Price trends
Raw material requirements
Value chain analysis
Market trends for major feedstocks
Price trends for major feedstocks
Key regions for major feedstocks
Key application areas for major feedstocks
Key suppliers of major feedstocks

Key Questions Answered in This Report

1. What was the size of the global N-hexane market in 2022?
2. What is the expected growth rate of the global N-hexane market during 2023-2028?
3. What are the key factors driving the global N-hexane market?
4. What has been the impact of COVID-19 on the global N-hexane market?
5. What is the breakup of the global N-hexane market based on the application?
6. What are the key regions in the global N-hexane market?
7. Who are the key players/companies in the global N-hexane market?