Hexane Market Supply-Demand, Investment Feasibility and Forecast 2028

Hexane Market size was valued at USD 1.94 Billion in 2020 and is projected to reach USD 2.52 Billion by 2028, growing at a CAGR of 3.4% from 2021 to 2028.

Hexane, also known as n-hexane or hexyl hydride, is an aliphatic hydrocarbon derived from fractional distillation of crude oil/natural gas. It contains mixture of hydrocarbons with six carbon atoms, similar to cyclohexane. Hexane has several key applications and it is used as an essential oil thinner, chemical intermediate, and cleaning agent, Hexane is also utilized as a solvent in rubber polymerization to manufacture synthetic rubber. It is used to manufacture binder, coating, paint, and off-set oil.

N-hexane is widely used as a primary solvent for industrial and chemical products such as leather, paint, polypropylene and rubber. Growth in the sales of these products is expected to drive the demand for n-hexane during the forecast period. Apart from this, the pharmaceutical industry represents one of the largest consumers of n-hexane as it used for shaping pills and tablets along with use in various synthesis and separations. Moreover, it offers multiple advantages over other solvents such as cost-effectiveness and recyclability. Additionally, it is easy to remove it from solids and oil owing to which there has been an apparent shift towards its use in different applications.

The food industry's high demand for n-Hexane is likely to drive market expansion throughout the forecast period. N-hexane is extensively used as an edible oil extraction agent since it gives a high yield from a range of seeds. As a result, the food industry is expected to have a significant need for n-Hexane Consequently, increased oil demand is expected to support Hexane Market growth over the forecast period. The pharmaceutical industry's increased demand for n-Hexane is expected to propel market expansion. The expanding pharmaceutical sector can also be blamed for the increase. According to the IQVIA Institute for Human Data Science's Global Use of Medicines study.

Hexane is a chemical solvent that is colourless and cost-effective in nature. Owing to its superior properties, hexane is used for a wide range of industrial applications. However, the production of hexane depends entirely on the availability of crude oil. Generally, hexane is available in two forms i.e. pure based hexane and solvent based hexane. Solvent based hexane is generally used for industrial applications and pure based hexane is used in the laboratories for research and development proficiencies.

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Global Hexane Market: Major Players
SINOPEC
SK Chem
Yangzi Chemical
Liangxin Petrochemical
Fuji Heavy Industries
Shell
Bharat Petroleum
Yufeng Chemical
Chevron Phillips Chemical
CNPC
Yanshan Petrochemical
Junyuan Petroleum
Exxon Mobil
Phillipes
Jihua Group
Sumitomo
ZT League Chemical
HeLiShi Petroleum

Global Hexane Market: By Types
N-hexane
Isohexane
Neohexane

Global Hexane Market: By Applications
Industrial Solvents
Edible-oil Extractant
Adhesives & Sealants
Others

Global Hexane Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Hexane market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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