N-Hexane Market Overview, Driving Factors and Growth Opportunities by 2023

Global N-Hexane Market Research Report, Trends, Growth Analysis and Forecast Till 2023

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Report Description and Highlights

Report Description

N-Hexane Market Report By End Use (Edible Oil Extraction, Healthcare, Industrial Solvent Adhesive Formulation and Others), Region The global n-hexane market has witnessed a steady growth over the past several years. This can be attributed to its diverse applications, growing population, rapid industrialization and growth in the enduse industries.

Market Overview: The latest report by IMARC Group, titled “N-Hexane Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global n-hexane market reached a volume of 2.64 Million Tons in 2017, exhibiting a CAGR of around 3% during 2010-2017. N-hexane is an aliphatic hydrocarbon which is present in petroleum, forming one of the main constituents of petroleum ether and naphtha. Also known as hexane and hexyl hydride, it is a clear colourless liquid with an odour similar to that of petroleum. Majority of n-hexane is obtained from petroleum mixtures through controlled fractional distillation and other refinery-based processes. Owing to its distinct properties, it is used as an organic solvent in the extraction of cooking oils, such as soybean, cottonseed, rapeseed, etc., and other applications such as in the production of rubber, pharmaceutical, perfume, footwear, leather, textiles, furniture and painting.

Report Description and Highlights

Report Description

Highlights of the global n-hexane market: • • •

Growing demand for refined oils remains the key growth-inducing factor.

Edible oil extraction is the largest end-use segment.

Asia-Pacific represents the largest region.

N-hexane is one of the primary solvents used in vegetable oil extraction. The market is largely driven by the rapidly growing demand for refined oils on account of population growth, increasing disposable income and health consciousness, particularly in the developing regions. Additionally, growing population has also resulted in a huge demand for industrial and chemical products made using n-hexane such as leather, paint, polypropylene, rubber, etc. Moreover, aging population, changing lifestyle and rising number of chronic diseases has boosted the pharmaceutical industry, which has further augmented the demand for n-hexane globally. Despite these factors, the market is restrained by the volatile nature of n-hexane which can lead to several problems; fluctuations in the prices of raw materials; and rising environmental concerns. According to the report, the market is expected to reach a volume of 3 Million Tons by 2023.

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Market Forecast

Sample Figure: Global: N-Hexane Market Forecast: Volume Trends (in Million Tons), 2018-2023

184.3

191.7

199.3

207.3

2018

2019

2020

2021

215.6

224.2

2022

2023

Market Segmentation

Report Description

N-hexane is one of the primary solvents used in vegetable oil extraction. The market is largely driven by the rapidly growing demand for refined oils on account of population growth, increasing disposable income and health consciousness, particularly in the developing regions. Additionally, growing population has also resulted in a huge demand for industrial and chemical products made using nhexane such as leather, paint, polypropylene, rubber, etc. Moreover, aging population, changing lifestyle and rising number of chronic diseases has boosted the pharmaceutical industry, which has further augmented the demand for n-hexane globally. Despite these factors, the market is restrained by the volatile nature of n-hexane which can lead to several problems; fluctuations in the prices of raw materials; and rising environmental concerns. According to the report, the market is expected to reach a volume of 3 Million Tons by 2023.

The global n-hexane market is segmented on the basis on end-use, covering, edible oil extraction, healthcare, industrial solvents, adhesive formulation, etc. Amongst these, edible oil extraction represents the largest segment, as n-hexane offers high yield from oilseeds such as soybean, rapeseed, cotton seed, etc. Region-wise, Asia Pacific is the leading market, holding more than two-fifths of the total share. This can be attributed to growing population and rapid industrialization, which has resulted in amplified demand for edible oil in the region. Other major regions include Europe, North America, Middle East and Africa, and Latin America.

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Market Segmentation

Report Description N-Hexane Market Segmentation: Market Segmentation by End-use o o o o

Edible oil extraction Healthcare Industrial solvents Adhesive formulation

At present, n-hexane is majorly used as an edible oil extractant as it provides a high yield from oilseeds. Another advantage it offers in oil extraction is its recyclability as it can be reused after the extraction process. It also removes unwanted taste and odor from the oil, unlike other extraction agents.

Market Segmentation by Region • • • • •

North America Europe Asia Pacific Latin America Middle East and Africa

Regional Segmentation

North America

Europ e

Asia- Pacific

Latin America

Middle East and Africa

Market Segmentation

Report Description

On the geographical front, Asia-Pacific represents the largest regional market. This can be attributed to the increasing population and growing demand for refined oil in countries like China and India.

Competitive Landscape: The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are: • • • • •

Rompetrol Royal Dutch Shell PLC Exxon Mobil Corporation Sinopec China Junyuan Petroleum Group

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Report Description and Highlights

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