N-Hexane Market 2024 | DHC Solvent Chemie GmbH, Bharat Petroleum Corp. Ltd., Indian Oil Corp. Ltd., Rompetrol Rafinare S.A., Dongying Liaoning Yufeng Chemical Co., Ltd.

According to Research Report Insights (RRI), the global n-Hexane market is likely to thrive at a moderate pace over the next eight years. During 2016-2024, the market will attain a value of US$ 1.856 Bn, expanding at a CAGR of 5.7%. Edible oil industry is expected to remain the predominant consumer throughout the assessed period. Asia Pacific will reportedly represent the most lucrative regional market.

In addition to growing prevailing demand for n-Hexane in the edible oil sector, towering consumer preference for refined oil will also play a key role in driving the market for n-Hexane over the next few years. A wide range of end-use applications are anticipated to continue supporting the market throughout the forecast period.

Iso-hexane is a chemical isomer of hexane, which is often used in oilseed extraction applications, replacing n-Hexane. Moreover, n-heptane is also used on a large scale in pharmaceuticals in order to eliminate the toxicity of n-Hexane. Rising adoption of such substitutes can hold a pretty negative influence over the growth of global n-Hexane market. Growing popularity of cold pressing technique for oil extraction is also identified to be one of the key challenges to market growth. Moreover, developed markets are increasingly encouraging hexane-free industrial products, which is a critical restraint to growth of the market.

Request For Report Sample: https://www.researchreportinsights.com/report/sample/110114754/N-Hexane-Market

Although polymerization, oil extraction, and pharmaceuticals are projected to remain among the top consumers of n-Hexane, oil extraction is estimated to be the largest application. This segment will capture more than 75% market value share in 2016. This growth is attributed to high effectiveness and high-yielding capacity. Polymerization will also remain a major revenue contributor over the assessment period. Global consumption of n-Hexane by the polymerization segment will possibly cross 200 KT in 2016.

By grade of n-Hexane, oil extraction grade will remain dominant over industrial grade. While oil extraction grade is likely to reach the revenue sales of over US$ 600 Mn in 2016, that of industrial grade n-Hexane will possibly exceed a value of 560 KT by the end of 2016.

By region, North America will be a mature market for n-Hexane and see steady growth through 2024. The growth of this region may continue to be affected by growing popularity of hexane-free products in the North American market. Europe, another key region, is expected to witness sluggish growth, primarily attributed to the recent economic slowdown.

However, demand for n-Hexane from emerging Asian countries will account for substantial revenue sales. APAC will continue to record the maximum consumption of n-Hexane during the forecast period. This region will observe a volume CAGR of 5% and value CAGR of over 6% between 2016 and 2024. China, followed by India, are expected to lead the market in APAC. Latin America is anticipated to register a higher CAGR of 6.2%.

Request For Report discount: https://www.researchreportinsights.com/report/discount/110114754/N-Hexane-Market

Key players are concentrating on scale economies i.e. emerging Asian markets. Developing countries will remain at the center stage owing to widespread availability of cost-effective labor and relatively lower costs of production. A few leading companies are Hindustan Petroleum Corp. Ltd., Chevron Philips Chemicals LLC, Liangxin petrochemical company, Exxon Mobil Corporation, and Sak Chaisidhi Company Limited. Some other prominent players competing in the market, include DHC Solvent Chemie GmbH, Bharat Petroleum Corp. Ltd., Indian Oil Corp. Ltd., Rompetrol Rafinare S.A., Dongying Liaoning Yufeng Chemical Co., Ltd., and Royal Dutch Shell PLC.

Report Analysis: https://www.researchreportinsights.com/report/rd/110114754/N-Hexane-Market

Research Report Insights (RRI) is a leading market intelligence and consulting firm. We deliver a host of services including custom research reports, syndicated research reports, and consulting services which are personalized in nature. RRI delivers a complete packaged solution to clients; this combines current market intelligence, technology inputs, statistical anecdotes, valuable growth insights, 360-degree view of the competitive framework, and anticipated market trends

Research Report Insights (RRI
42 Joseph Street
Port carling P0B 1J0
Muskoka, Ontario1
Phone - +1-631-721-4201
Website: https://www.researchreportinsights.com/
Email: sales@researchreportinsights.com

This release was published on openPR.