n-Hexane Market

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N-HEXANE MARKET ANALYSIS

• n-Hexane Market, By Grade (Oil Extraction,
  Pharmaceutical, Industrial), By Application (Oil
  Extraction, Polymerization, Pharmaceutical,
  Adhesives Sealants, Industrial Cleaning
  Degreasing, Rubber Processing, Others (inks,
  glues, leather dressings, etc.)), and By Region
  (North America, Latin America, Europe, Asia
  Pacific, Middle East Africa) - Size, Share,
  Outlook, and Opportunity Analysis, 2019 - 2027

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• n-Hexane is primarily used to extract vegetable
  oil from crops and seeds and it is widely used
  with the other solvent. It is basically produced
  from crude oil and possess excellent properties
  of solubility with alcohol and is transparent in
  nature. They are used in the production of
  adhesives and sealants which have a wide range of
  industrial application. Moreover, they are also
  used as an industrial and degreasing agent.
  n-hexane is also used as a solvent across other
  industries such as rubber, leather, printing,
  cosmetics, ink, etc. Food, pharmaceuticals,
  textile, and resin production are some of the
  other application areas of n-hexane. Moreover, it
  is also used across dilution, extraction, and in
  liquid chromatography application.
• The global n-Hexane market is projected to
  reach around US 2,189.6 million by the end of
  2027, in terms of revenue, growing at CAGR of
  5.8 during the forecast period (2019-2027).
• Drivers
• High demand for n-Hexane from the food industry
  is expected to foster market growth over the
  forecast period. n-Hexane widely used as the
  edible oil extraction agent, as it offers high
  yield from a variety of seeds. This is expected
  to create strong demand for n-Hexane from the
  food industry. Hence, rising demand for oil is
  projected to foster the market growth of n-Hexane
  over the forecast timeframe.

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Figure 1 Global n-Hexane Market, Revenue Share
(), By Region, 2018
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• Market Restraints
• The growing usage of n-Hexane across the
  pharmaceutical industry is projected to offer an
  immense potential opportunity to the market in
  the near future. Across the furniture industry,
  it is used to produce lacquers, adhesives, and
  cleaners which have furniture application. Growth
  in the furniture industry is also contributing to
  the market growth. According to the British
  Furniture Confederation, UK furniture, bed and
  furnishings manufacturing is a substantial
  industry. Its 8,707 companies contribute 12.2
  billion to the countrys GDP (3.1 up on previous
  years), 9.01 billion of this is from UK
  furniture manufacturing, which equates to 1.6 of
  manufacturing output.
• The growing production of oil gas especially
  across the Asia Pacific region is expected to
  augment the market growth over the forecast
  period. Oil imports rose sharply to US 87.37
  billion in 2017-18 from US 70.72 billion in
  2016-17. Its domestic crude oil production in
  July 2019 was 2,769 thousand tons (TMT).
  Moreover, the production of petroleum products by
  fractionators increased to 4,931.22 tmt in 2019
  from 4,808.00 tmt in 2018 and reached 2369 TMT in
  2020.

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• Market Opportunities
• Various manufacturers are targeting the bottled
  water segment as it is the most common beverage
  consumed. The U.S. consumers have become more
  health-conscious and this is expected to fuel the
  growth of the U.S. caps and closure market for a
  non-carbonated beverage. For instance, in October
  2019, Drinking water brand Nestlé Pure Life has
  introduced a new 330ml bottles for kids made from
  100 recycled plastic (rPET). The new bottles
  feature four DC characters such as Batman, Wonder
  Woman, Superman, and Shazam.
• Key players are introducing lightweight closure
  in order to enhance the ease of use of the
  product. This will provide immense growth
  opportunity to the market of U.S. caps and
  closure. Lightweight caps closures
  manufacturers can focus on developing innovative
  products and also save the use of material
  saving. This will enable manufacturers to invest
  more on new and innovative products. 

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Figure 2. Global n-Hexane Market Opportunity
Analysis
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• Market Trends
• Rising demand for polymerization grade of
  n-Hexane across various end-use industries such
  as soaps detergents, wastewater treatment
  chemicals, and tea-leaf processing is gaining
  traction in the market. Its polymerization grade
  is also used across pre-metal treatment chemicals
  and hence growing investment in the chemical
  industry will favor the market growth over the
  forecast period.
• Growing demand for n-Hexane as an industrial
  solvent across the cosmetic personal care
  industry is expected to propel the market growth
  over the forecast period. They are also used in
  the production of footwear industry due to its
  excellent solubility with alcohol, ether, and
  chloroform, and colorless nature. This is
  projected to fuel market growth.

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Figure 3. Global n-Hexane Market, Revenue Share
(), By Grade, in 2018
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• Competitive Section
• Key players operating in the global n-hexane
  market are ExxonMobil Corporation, Royal Dutch
  Shell PLC, Indian Oil Corp. Ltd., Chevron,
  Phillips Chemical Company LLC, Bharat Petroleum
  Corp. Ltd., Rompetrol Rafinare S.A., Hindustan
  Petroleum Corporation Limited, Dongying Liangxin
  petrochemical company, Liaoning Yufeng Chemical
  Co., Ltd., DHC Solvent Chemie GmbH, and Sak
  Chaisidhi Company Limited.

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