Global N-hexyl Alcohol Market By Top Key Players: Sasol, Nanjing Chemical Material, Alfa Aesar, Haihang Industry, Yancheng Hongtai Bioengineering, Simagchem Corporation, Merck, Ecogreen Oleochemicals

Rapidly growing population mainly in Asia Pacific has led to robust growth trends in food and beverage industry in the past few years. Product is widely used as a flavoring agent in processing of numerous food and beverages owing to its colorless liquid form with a fruity fragrance. Rising socio-economic and growing FMCG markets are likely to boost product demand, which in turn will have strong impact on N-hexanol market during the forecast spell. Furthermore, rising demand for packaged and processed food such as frozen food, dairy products, etc. is probable to make considerable impact on the N-hexyl alcohol market in the coming years. This is mainly due to product use as plasticizer additive which acts as a major constituent of packaging material.

N-hexyl Alcohol market is forecast to exceed USD 1.6 billion. N-hexyl alcohol market for chemical intermediate constituted more than 20% of the overall n-hexanol market size in 2016. Product is used as a chemical intermediate across numerous end-user industry such as food, pharmaceutical and cosmetics owing to its value adding properties which helps boost the chemical reaction. In the pharmaceutical industry, it is applicable in the preparation of wide variety of medicines, antiseptics, hypnotics, etc. Additionally, it is used in the cosmetics industry in the preparation of variety of colorants and fine personal care chemicals. Robust growth in the above-mentioned industries mainly in Asia Pacific will make noteworthy influence on the overall N-hexanol market size by 2024.

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Packaging industry also plays a major role in pharmaceutical sector in wrapping variety of equipment, medicines, tablets, etc. Rising contribution in R&D has led to innovation of variety of drug formulations, blow fill seal vials, coating technology, plasma impulse chemical vapor deposition, unit dose vials, 2-in-1 prefilled vial design, child resistant packs and prefilled syringes which is probable to have a positive influence on the plastic packaging sector and will subsequently make a notable impact to N-hexanol market during the forecast period.

Based on end-user, the N-hexyl alcohol market share for cosmetics industry is projected to grow at a CAGR of over 4% by 2024. It is mainly attributed to extensive product use as plasticizer, inert ingredient, lubricant additive, chemical intermediate, odor agent, etc. Product is widely used as an inert ingredient in the preparation of several skin care and cosmetic products. Additionally, it is utilized as an intermediate in manufacturing variety of personal care chemicals and colorants to produce shampoo, lotions, creams, soaps, etc. and henceforth will make substantial contribution to the N-hexanol market size by 2024.

N-hexyl alcohol market for food & beverage industry was valued more than USD 325 million in 2016, which is likely to witness positive gains in the forecast spell. This is chiefly due to rising product use as an odor agent and to add flavor to variety of food products including fruit, vegetable and alcoholic beverage, etc. Furthermore, its application in producing additives for lubricants used in food processing machinery including, spray dryers, food grain machine, etc. Additionally, rising demand for packaging materials across food & beverage industry to package and wrap frozen, processed, dairy, bakery items, etc. will drive product demand and subsequently boost N-hexanol market, owing to its application as plasticizer precursor mainly in producing polyvinyl chloride-based material.

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North America N-hexanol market size constituted a major chunk of the overall business size and accounted for more than 40% of the total market share in 2016. It is primarily due to well established pharmaceutical, food and personal care industry in the region. According to International Trade Administration (ITA), total healthcare expenditure in the U.S. in 2016 was approximately USD 3 trillion, which accounted for 17.4% of the country’s GDP. Product use as a chemical intermediate in medicine and drugs manufacturing is poised to witness rise considering the U.S. pharma industry growth over the forecast period which will make significant additions to N-hexyl alcohol market size by 2024.

N-hexyl alcohol market for Europe accounted for over 20% of the overall market in 2016. This is chiefly owing to well-established personal care sector which has been engaged in product use as an inert element in the production of various skin care & cosmetic items. Moreover, product is widely applicable in the preparation of variety of colorants, fine cosmetic chemicals used to manufacture variety of personal care products. Major personal care industry players in Europe has been making substantial R&D investment, which is likely to drive the N-hexanol demand and will subsequently help attain prominent N-hexanol market in the forecast timespan. For instance, major cosmetic players in Europe invested USD 1.57 billion in the personal care sector in 2016.

N-hexanol market share is fragmented with major players constituting close to 30% of the global business size in 2016. Prominent contributors are Sasol, Alfa Aesar, Merck, Nanjing Chemical, Yancheng Hongtai, Haihang Industry, Simagchem, Penta International and Ecogreen Oleochemicals. Few of these players are making huge investment in their R&D facilities to help expand their presence in the market.

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