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N-hexyl alcohol market to hit USD 1.6 billion by 2024, key players are Sasol, Nanjing Chemical Material, Alfa Aesar, Haihang Industry

N-Hexyl Alcohol Market

N-Hexyl Alcohol Market

Estimates claim that N-hexyl alcohol market valuation from food & beverage applications was worth USD 325 million in the year 2016 and is expected to register continuous growth during the estimated timeframe. Rising adoption of N-hexyl alcohol compounds as a flavoring agent for alcoholic beverages, fruits, and vegetables has bolstered product demand. Additionally, N-hexyl alcohol is utilized to develop additives for lubricants which are further used in food grain machine and spray dryers. The upsurge in demand for processed and packaged food products such as dairy products and frozen foods coupled with flourishing FMCG markets are aiding the market expansion.

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It is estimated that N-hexyl alcohol market from pharmaceutical sector will grow with a CAGR of 4% during 2017-2024. N-hexyl alcohol is widely used in developing various medicines such as actomyosin adenosine triphosphatase. Moreover, it is used as an intermediate during antiseptic production. N-hexyl alcohol is also used for conducting chromatography which helps to separate chiral compounds, thereby augmenting the contribution from pharma industry.

Major companies in the N-hexyl alcohol market 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, Merck & Co., Inc., TCI Chemicals (India) Pvt. Ltd., Bharat Jyoti Impex, Eco-green Oleochemicals, Beijing LYS Chemicals Co. Ltd., Penta International Corporation, Sisco Research Laboratories Pvt. Ltd.

Considering the geographical landscape, Europe N-hexyl alcohol market held 20% share in the year 2016. N-hexyl alcohol is a key element in cosmetic and skin care items. The product is extensively used for preparing various fine cosmetic chemicals and colorants for personal care products. Thus, booming personal care sector in Europe is adding pace to the demand for N-hexyl alcohol across the region. Moreover, escalating investments in R&D activities by key industry players has led to development of innovative products which in turn is propelling the regional market. In 2016 for instance, the major companies operating in cosmetic sector invested approximately USD 1.57 billion in personal care vertical.

The prominent companies operating in the N-hexyl alcohol industry are Penta International, Nanjing Chemical, Haihang, Ecogreen Oleochemicals, Merck, Yancheng Hongtai, Sasol, and Alfa Aesar among others. As per estimates, these key industry players held 25% share in N-hexyl alcohol industry in the year 2016. Moreover, major companies are focusing on R&D activities to develop innovative products in order to gain a competitive advantage in the market. In 2014 for instance, Ecogreen Oleochemicals successfully completed the extension of its fatty alcohol production facility in Indonesia.

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https://www.prnewswire.com/news-releases/leather-chemicals-market-to-reach-usd-11-42-billion-by-2026--says-global-market-insights-inc-300980524.html

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Corporate Sales, USA
Global Market Insights, Inc.
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