Global n-Hexane Market Growth 2016-2024



Global n-Hexane Market Growth 2016-2024
Global Market Study on n-Hexane: Oil Extraction
End Use Segment to Dominate Consumption over
the Forecast Period
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Global N-Hexane Market Projected to Register a Moderate
Growth; Global Revenues to Reach US$ 1856.7 Mn by 2024
According to the latest report published by Persistence Market Research titled, “Global Market
Study on n-Hexane: Oil Extraction End-Use Segment to Dominate Consumption over the
Forecast Period ,” the global n-Hexane Market is anticipated to witness a Y-o-Y growth of
more than 3% in 2016. Increasing population coupled along with shooting refined oil demand is
expected to propel the demand for n-Hexane. As a special-purpose solvent, n-Hexane has
applications across a diverse set of industries which is expected to boost demand of n-hexane.
Demand for n-Hexane, especially in developing region such Asia Pacific, is expected to boost
the demand of the global n-Hexane market over the forecast period. Excellent properties of nHexane to remove odor and unwanted taste are expected to propel the demand of n-Hexane
from the edible oil industry. n-Hexane has the ability to remove unwanted taste and odor and this
is the precise reason that the demand for n-Hexane has increased in edible oil industry.
However, the consumers from developed regions are shifting from refined oil to cold-pressed oil
owing to its superior health benefits. Cold pressing is a natural way to produce oil which does not
contain solvent residues, no preservatives with natural antioxidants. In addition, Isohexane, a
hexane isomer is used as a substitute of n-Hexane in few oilseed extraction applications. Due to
toxic nature of n-Hexane, it has been substituted by n-heptane in some pharmaceutical
applications. This may retard the growth of the n-Hexane market.
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Based on application, oil extraction will continue to lead the market share, representing nearly
57% of total revenues in 2016. High demand for n-Hexane in oil extraction owing to its
effectiveness and high yield is expected to propel the global n-Hexane Market. Polymerization is
expected to reach more than 200KT in 2016. Oil Extraction, Pharmaceutical, and Polymerization
will remain top 3 end-users in global n-Hexane Market.
Grade wise, oil extraction followed by industrial will dominate the Global n-Hexane Market in
2016 and is anticipated to reach more than US$ 600 Mn in 2016. Demand for industrial grade nHexane is expected to reach closed to 560 KT in 2016.
On the basis of the region, APAC has the largest market in n-Hexane market across the world.
China recorded a dominant market share of more than 40% in 2015. Asia-Pacific is estimated to
lead the market in 2016, followed by Europe and North America. Moderate growth is expected
from the mature markets such as North America and Europe. Europe will witness sluggish
growth owing to the gradual economic recovery. In addition, important players in the market have
been shifting their production bases to Asia Pacific region in order to capitalize on scale
economies. Rising environmental concerns in developed regions over the use of n-Hexane and
its adverse impact on health and environment may inhibit the growth of the n-Hexane market.
APAC is expected to drive the global n-Hexane market and is expected to register closed to 5%
of volume CAGR over the forecast period 2016-2024.
Global n-Hexane Market 2016-2024
Key participant of global n-Hexane market are Hindustan Petroleum Corp. Ltd., Sak Chaisidhi
Company Limited, Liangxin petrochemical company, Exxon Mobil Corporation, Chevron Philips
Chemicals LLC, Indian Oil Corp. Ltd., , Royal Dutch Shell plc., Rompetrol Rafinare S.A, DHC
Solvent Chemie GmbH, Dongying Liaoning Yufeng Chemical Co., Ltd, Bharat Petroleum Corp.
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Global n-Hexane Market 2016-2024
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Global n-Hexane Market 2016-2024