The global n-hexane market reached a value of US$ 2,461 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 3,039 Million by 2027, exhibiting a CAGR of 3.5% during 2022-2027.
N-hexane is an organic solvent that is procured from natural gas and crude oil. It is an aliphatic hydrocarbon that can also be obtained by synthesizing sugar cane wastes in the presence of special catalysts. Characterized by an unpleasant odor, it is completely colorless in its purest form. It is highly flammable in nature and consists of explosive vapors. As a result, it is required to be mixed with different solvents to be utilized as an industrial chemical and laboratory reagent for various applications across diverse industries, including textile, food and pharmaceuticals. For instance, it can be employed for the production of glues, paints and lacquers and for extracting vegetable oil from crops and seeds.
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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.
Global N-Hexane Market 2022-2027 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
Market by Region:
1. Asia Pacific
2. Europe
3. North America
4. Middle East and Africa
5. Latin America
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