Global Hexane Market to Reach USD 3.41 billion by 2028

According to the latest research by SkyQuest Technology, the hexane market was valued at USD2.46 billion in 2021. It is expected to reach USD 3.41 billion by 2028, with a CAGR of 5.8% during the forecast period of 2022 - 2028. The research provides an up-to-date hexane market analysis of the current market landscape, latest trends, drivers, and overall market environment.

The global pharmaceutical industry grew from $100 billion to $1.2 trillion business. As a result, market growth will likely be fueled by the expansion of the pharmaceutical industry. The market is expected to be constrained by severe legislation outlawing the use of n-Hexane due to its detrimental effects on human health and growing customer demand for ecologically friendly products. The developing negative effects of VOC (Volatile Organic Compounds) from n-hexane-based goods are expected to limit n-hexane use and impede industrial growth. The fluctuating price of crude oil and the weakening economy, which are expected to impede the market expansion, could hurt the profitability of n-Hexane producers.

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The growing need for n-Hexane in the food industry is projected to boost market expansion. N-hexane is frequently used as an agent for extracting edible oils since it yields a large amount from a range of seeds. Thus, there will probably be a sizable need for n-Hexane in the food industry. In other words, it is anticipated that rising oil demand will boost market expansion for hexane during the projected time frame. The pharmaceutical industry's expanding n-Hexane consumption is predicted to boost market expansion. The expansion of the pharmaceutical sector is another explanation for the increase.
In addition, the geopolitical situations in Middle Eastern countries and shifting exchange rates are among the main factors preventing the hexane market from expanding. Hexane extraction of edible oils from vegetable and seed crops like peanuts, soybeans, corn, and other grains is becoming more and more common. Compared to other solvents like petroleum ether and ethyl acetate, hexane extracts oil more successfully. It is dissolved in vegetable oil and subsequently removed by washing without damaging the fiber, protein, sugar, or unwanted gums. Due to consumers' raising awareness of the negative health impacts of using refined oil, the edible oil industry is growing.

Read Market Research Report, "Global Hexane Market By Grade (Polymerization, Extraction, Others), Application (Edible Oil Extractant, Industrial Solvent, Adhesive Formulation, Leather Treatment, Others), and Region -Forecast and Analysis 2022-2028" by SkyQuest.

The rising demand from the oil & gas extraction industry is one of the main drivers of the worldwide hexane market's expansion. The market for global hexane is expected to see edible oil extraction dominate the application market. The quick expansion of the edible oil market can be due to people being more knowledgeable about refined oil and its negative effects on health. Hexane also has the ability to remove bad tastes, preserve colors, and have an adverse effect on other aspects of food. Hexane's demand in the edible oil sector is fueled by all of these qualities. In order to extract edible oils from seed and vegetable crops, such as peanuts, soybeans, corn, etc., hexane is increasingly being employed as a solvent. Compared to other solvents like petroleum ether and ethyl acetate, hexane has a more amazing capacity to eliminate grease. Fiber, sugar, protein, and undesirable gums are not disturbed since it easily mixes with vegetable oil and cleans it out. The increase in the edible oil market can be due to consumers' growing awareness of refined oil's negative effects on health. Additionally, when food-related health issues like high cholesterol, obesity, etc. are on the rise, customers are willing to spend more for items that promote good nutrition. Edible oils rich in omega 3, vitamins, oryzanol, natural antioxidants, and others are becoming more and more popular in many nations due to their added health benefits. Chemical solvent hexane is both inexpensive and colorless.

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Hexane is used for a variety of industrial applications because of its outstanding characteristics. Hexane production, however, is wholly dependent on crude oil supplies. Hexane is often offered in two different forms: pure-based Hexane and solvent-based Hexane. Pure-based Hexane is utilized in laboratories for research and development, while solvent-based Hexane is typically employed for industrial applications.

The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about the hexane Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.

What does this Report Deliver?

Market Estimation for 20+ Countries
Hexane Market demand by Region, Sub-Region, and Country
Customization on Segments, Regions, and Company Profiles
100+ tables, 150+ Figures
Global, Regional, and Country-specific hexane Market Trends
Comprehensive Mapping of hexane Industry Parameters
Attractive Investment Proposition in the Global hexane Industry
Competitive Strategies Adopted by hexane Market Key Players
Drivers, Restraints, Opportunities, Challenges, and the impact on the hexane Market Size
Market growth rate till 2028
Regulatory scenario, regional dynamics, and Hexane market insights of leading countries in each region
In-depth Market insights by Region and Country
Market Segmentation Trend Analysis, Opportunities, and Growth
Porter's five force analysis to know the market's condition
Pricing Analysis and hexane Market Sales
Parent market analysis
Product portfolio benchmarking

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SkyQuest has segmented the Global Hexane Market based on Grade, Application, and Region:
Global Hexane Market by Grade (Revenue, USD billion, 2021 - 2028)
Polymerization
Extraction
Others
Global Hexane Market by Application (Revenue, USD billion, 2021 - 2028)
Edible Oil Extractant
Industrial Solvent
Adhesive Formulation
Leather Treatment
Others
Global Hexane Market By Region (Revenue, USD billion, 2021 - 2028)
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia Pacific
China
India
Japan
Rest of Asia Pacific
Central & South America
Brazil
Rest of CSA
Middle East & Africa
GCC Countries
South Africa
Rest of MEA

Key Players in the Global Hexane Market
Royal Dutch Shell plc (the Netherlands)
Phillips 66 Company (U.S.)
Exxon Mobil Corporation (U.S.)
Bharat Petroleum Corporation Limited (India)
Sumitomo Chemical Co.Ltd. (Japan)
Liaoyang Yufeng Chemical Co.Ltd. (China)
China Petroleum & Chemical Corporation (China)
Chevron Phillips Chemical Company (US)
Merck KGaA (Germany)
Rompetrol S.A. (Romania)

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This release was published on openPR.