N-hexyl Alcohol Market worth over $1.6bn by 2024 |Sasol, Nanjing Chemical Material Co. Ltd., Alfa Aesar, Jinan Haohua Industry, Haihang Industry Company, Zhengzhou Yibang Industry & Commerce Company, Changzhou XiaQing Chemical Company, Yangcheng Hongtai B
Apart from food packaging, the product is a major constituent for packaging applications across other industries. For instance, the pharmaceutical sector witnesses widespread product applications such as wrapping variety of drugs and medical equipment. Moreover, increasing R&D activities to innovate and develop coating technologies for drugs, prefilled syringes, child resistant packs, 2-in-1 prefilled vial design will positively impact the segmental growth, subsequently augmenting N-hexyl alcohol industry size.
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2. Nanjing Chemical Material Co. Ltd.
3. Alfa Aesar
4. Jinan Haohua Industry
5. Haihang Industry Company
6. Zhengzhou Yibang Industry & Commerce Company
7. Changzhou XiaQing Chemical Company
8. Yangcheng Hongtai Bioengineering Co. Ltd.
9. Chengdu Yanxi Chemical Co.
10. Simagchen Corporation
Growth drivers are
1. Rapidly growing personal care industry in the Asia Pacific
2. Strong growth in pharmaceutical industry in North America
3. Sturdy growth in food & beverage industry in the emerging economies
4. Rising packaging industry across food & beverage, personal care and pharmaceutical industry
N-hexyl Alcohol market share is driven by robust growth of food and beverage industry coupled with considerable improvement in socio-economic conditions. The colorless liquid form of the product boasts of a fruity fragrance and is thus used as a flavoring agent for processing several food and beverages. In addition to this, the product also finds major applicability across food packaging, owing to its plasticizer properties, thereby augmenting n-hexyl alcohol industry trends.
N-hexyl alcohol market perform in terms of chemical intermediate applications accounted for more than 20% of the total market size in 2016. Product is utilized as a chemical intermediate across some of the prominent industries such as, food and beverage, pharmaceuticals and cosmetics pertaining to its chemical reaction boosting properties. The pharmaceutical industry applies it while preparing variety of products such as medicines, hypnotics and antiseptics. Moreover, it is used in preparations of several colorants and fine personal care chemicals used across the cosmetic industry. Positive growth trends across personal care & pharmaceutical industry mainly driven by the high consumption rates of the Asia Pacific and Middle East will generate noteworthy potential for N-hexanol market expansion.
N-hexanol market from the pharmaceutical end-user is anticipated to grow somewhere nearby 4.0% over the forecast period, owing to widespread product implementation for preparing several medicines. Furthermore, product application as an intermediate in the production of antiseptics along with chromatographical usage in pharmaceutical industry in order to separate chiral compounds will drive the end-user segment over the forecast period.
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Moreover, rising investments on personal care R&Ds complemented by increasing spending on personal care items are projected to boost product demand over the forecast timeframe. As per reliable sources, some of the prominent cosmetic players in Europe have invested nearly USD 1.57 billion in the personal care sector in 2016.
In 2016, the Europe held over 20% of the global N-hexyl alcohol market share which is further likely to surge over the forecast timeframe. The presence of proliferating personal care sector in the region which utilizes the product as an inert element for manufacturing cosmetics & skincare items has been chiefly driving the regional growth.
Industry Key players are Sasol, Nanjing Chemical Material Co. Ltd., Alfa Aesar, Jinan Haohua Industry, Haihang Industry Company, Zhengzhou Yibang Industry & Commerce Company, Changzhou XiaQing Chemical Company, Yangcheng Hongtai Bioengineering Co. Ltd., Chengdu Yanxi Chemical Co., Simagchen Corporation, Aopharm
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