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The global hexane market attained a value of about USD 2.1 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 3.5% to reach nearly USD 2.6 billion by 2026.
The extensive use of food-grade hexane in the extraction of edible oils is propelling the market growth. As hexane is utilised as a solvent in the process of solvent extraction to remove impurities from edible oils, such as rapeseed and soybean, among others, its demand is rapidly surging. The cost-effectivity of hexane makes it an ideal solvent to be deployed in edible oil extraction, which is also escalating its demand.
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As the COVID-19 pandemic, along with dire weather conditions in the Latin American region, is leading to an escalation of the international prices for edible oils, such as palm, canola, and soybean oils, the market value for hexane is expected to increase, which is projected to invigorate the industry growth. In addition, the increasing production of oilseeds in various countries to stabilise the domestic prices and boost the availability of edible oils is projected to increase the demand for hexane in the upcoming years.
Hexane is an alkane that is a colourless liquid and is used as a non-polar solvent. It has low toxicity, low boiling point, and is cost-effective and versatile. The favourable properties of hexane make it an ideal solvent for various industrial applications. Thus, it is also extensively deployed in the extraction of edible oils.
The major grades of hexane are:
The market can be broadly categorised on the basis of its applications segments into:
The EMR report looks into the regional markets of hexane like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The market for hexane is being aided by rapid industrialisation in emerging economies like Brazil and India. As hexane can offer precision cleaning, it is extensively used as an industrial cleaning agent and degreasing agent for machinery in various industries, such as automotive and printing. This is consequently increasing its demand, hence bolstering the industry growth. It is also deployed in various consumer-grade cleaning products, the demand for which is significantly growing, and, thus, adding the market growth of hexane. Moreover, hexane is deployed as an additive in various adhesive products, such as spray adhesives, owing to its excellent adhesiveness with non-soluble compounds, therefore further fuelling the growth of the hexane industry.
Although the health risks associated with hexane can hinder the market growth, the industry is expected to grow robustly owing to its cost-effectiveness, which is increasing its deployment in textile, furniture, and shoemaking industries. In addition, the increasing demand for hexane in the manufacturing process in various industries is projected to provide further impetus to the growth of the industry in the forecast period.
The report presents a detailed analysis of the following key players in the global hexane market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Grade, Application, Region|
|Breakup by Grade||Polymerisation, Extraction, Others|
|Breakup by Application||Edible Oil Extraction, Industrial Solvents, Adhesive Formulation, Leather Treatment, Others|
|Breakup by Region||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Market Dynamics||SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||Phillips 66 Company, Bharat Petroleum Corporation Limited, Sumitomo Chemical Co., Ltd., GFS Chemicals, Inc., Sierra Chemical Company|
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
7 Industry Opportunities and Challenges
8 Global Hexane Market Analysis
8.1 Key Industry Highlights
8.2 Global Hexane Historical Market (2016-2020)
8.3 Global Hexane Market Forecast (2021-2026)
8.4 Global Hexane Market by Grade
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2016-2020)
126.96.36.199 Forecast Trend (2021-2026)
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2016-2020)
220.127.116.11 Forecast Trend (2021-2026)
8.5 Global Hexane Market by Application
8.5.1 Edible Oil Extraction
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2016-2020)
126.96.36.199 Forecast Trend (2021-2026)
8.5.2 Industrial Solvents
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2016-2020)
220.127.116.11 Forecast Trend (2021-2026)
8.5.3 Adhesive Formulation
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2016-2020)
126.96.36.199 Forecast Trend (2021-2026)
8.5.4 Leather Treatment
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2016-2020)
220.127.116.11 Forecast Trend (2021-2026)
8.6 Global Hexane Market by Region
8.6.1 Market Share
18.104.22.168 North America
22.214.171.124 Asia Pacific
126.96.36.199 Latin America
188.8.131.52 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
184.108.40.206 United States of America
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
220.127.116.11 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
18.104.22.168 Saudi Arabia
22.214.171.124 United Arab Emirates
126.96.36.199 South Africa
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Phillips 66 Company
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
12.2.2 Bharat Petroleum Corporation Limited
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
12.2.3 Sumitomo Chemical Co., Ltd.
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
12.2.4 GFS Chemicals, Inc.
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
12.2.5 Sierra Chemical Company
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
13 Industry Events and Developments
Additional Customisations Available
1 Manufacturing Process
1.2 Detailed Process Flow
1.3 Operations Involved
2 Project Requirements and Cost Analysis
2.1 Land, Location, and Site Development
2.3 Plant Machinery
2.4 Cost of Raw Materials
2.9 Other Capital Investments
List of Figures and Tables
1. Global Hexane Market: Key Industry Highlights, 2016 and 2026
2. Global Hexane Historical Market: Breakup by Grade (USD Billion), 2016-2020
3. Global Hexane Market Forecast: Breakup by Grade (USD Billion), 2021-2026
4. Global Hexane Historical Market: Breakup by Application (USD Billion), 2016-2020
5. Global Hexane Market Forecast: Breakup by Application (USD Billion), 2021-2026
6. Global Hexane Historical Market: Breakup by Region (USD Billion), 2016-2020
7. Global Hexane Market Forecast: Breakup by Region (USD Billion), 2021-2026
8. North America Hexane Historical Market: Breakup by Country (USD Billion), 2016-2020
9. North America Hexane Market Forecast: Breakup by Country (USD Billion), 2021-2026
10. Europe Hexane Historical Market: Breakup by Country (USD Billion), 2016-2020
11. Europe Hexane Market Forecast: Breakup by Country (USD Billion), 2021-2026
12. Asia Pacific Hexane Historical Market: Breakup by Country (USD Billion), 2016-2020
13. Asia Pacific Hexane Market Forecast: Breakup by Country (USD Billion), 2021-2026
14. Latin America Hexane Historical Market: Breakup by Country (USD Billion), 2016-2020
15. Latin America Hexane Market Forecast: Breakup by Country (USD Billion), 2021-2026
16. Middle East and Africa Hexane Historical Market: Breakup by Country (USD Billion), 2016-2020
17. Middle East and Africa Hexane Market Forecast: Breakup by Country (USD Billion), 2021-2026
18. Global Hexane Market Structure
In 2020, the global hexane market attained a value of nearly USD 2.1 billion.
The market is projected to grow at a CAGR of 3.5% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 2.6 billion by 2026.
The industry is being aided by the rising demand for edible oils that use hexane as a key solvent in the extraction.
The market is expected to be augmented by the extensive end-uses of hexane in various industries, the rising use of hexane in industrial and domestic cleaning products, and the use of hexane as an additive in various consumer goods.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major grades of hexane in the industry are polymerisation and extraction, among others.
The significant applications segments of hexane in the market are edible oil extraction, industrial solvents, adhesive formulation, and leather treatment, among others.
The major players in the industry are Phillips 66 Company, Bharat Petroleum Corporation Limited, Sumitomo Chemical Co., Ltd., GFS Chemicals, Inc., and Sierra Chemical Company.
The global hexane market attained a value of nearly USD 2.1 billion in 2020, driven by the rising demand for hexane in the extraction of edible oils. Aided by the extensive end uses of hexane, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 3.5%. The market is projected to reach about USD 2.6 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on grade, the hexane industry can be segmented into polymerisation and extraction, among others. On the basis of application, the industry is divided into edible oil extraction, industrial solvents, adhesive formulation, and leather treatment, among others. The major regional markets for hexane are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Phillips 66 Company, Bharat Petroleum Corporation Limited, Sumitomo Chemical Co., Ltd., GFS Chemicals, Inc., and Sierra Chemical Company.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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