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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
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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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Arun Hegde
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Global Market Insights, Inc.
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