Hexane Market Information Application (Formulation, Oil Extraction, Cleaning Agent And Others), By Grade (Polymer, Food Grade, And Others), And Region- Forecast 2027

ID: VPR/CR/1103 Publishing Year: January 2022 Pages: 119 Format:   


Hexane Market Overview:

Hexane is principally employed in the extraction of edible oil from seeds and vegetables. Hexane is a good solvent for a variety of applications, including chemical organic synthesis, oil extraction, polymerization, medicinal, and industrial cleaning and degreasing, due to its colourless and flavourless nature combined with desirable qualities like as low viscosity and volatility. N-hexane, also known as an oil solvent, is utilised in a variety of sectors such as printing, rubber, leather, cosmetics, ink, and so on. In recent years, n-hexane has become more widely employed in the medical field and in the cleaning of integrated circuit (IC) electronic units.

Key Players:

  • ● 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 (U.S.),
  • ● Rompetrol S.A. (Romania), and
  • ● Junyuan Petroleum Group (China)

Market Growth:

The increasing usage of hexane as a solvent in the extraction of edible oils from seeds and vegetable crops has fueled the Worldwide Hexane Market's Expansion. Hexane is a popular solvent for extracting oil from a variety of seeds, including mustard, sunflower, soybeans, corn, and others. It quickly binds to vegetable oil and washes it away, leaving the fibres, proteins, sugars, and unwanted gum intact. Hexane is also utilised as a solvent in cleaning chemicals, which are employed in a variety of sectors, including leather, textiles, furniture, and printing. Printing inks, paints & coatings, adhesives, and cosmetics are among the products made with it. Furthermore, normal hexane (n-hexane) is a good anthropogenic agent that is frequently employed in the chemical industry and is produced by catalytic and thermal cracking of crude oil. On the other hand, the increasing use of Hexane in the pharmaceutical industry for the creation of tablet moulds and low-temperature thermometers is likely to propel the Global Hexane Market forward over the forecast period. The shifting prices of crude oil around the world, on the other hand, may operate as a market restraint. To acquire a competitive advantage in the market, major corporations are employing a variety of techniques. In November 2018, BPCL Kochi Refinery, for example, introduced food-grade purity Hexane to the Market. Such significant breakthroughs are projected to propel the Hexane Market Forward during the forecast time.

Regional Analysis:

The CAGR in the Asia-Pacific area is predicted to be the highest. The rapidly expanding food processing sector in many nations is to blame. In this location, there is also a higher demand for cooking oils.

In this region, agricultural yields have also been rising. The need for hexane is rising in this region as more and more of these foods are agro-processed commercially.

In addition, as the Asia-Pacific region's population grows wealthier, so does the demand for designer Western luxury products. As a result, demand for leather and other materials has skyrocketed in recent years. The global hexane market is seeing increased demand and expansion as a result of this. These commodities are in high demand among Asia's younger generations, particularly in India and China.

In India and China, the yuppie generation is also more likely to eat out than their parents. The need for Hexane is fast increasing, as restaurant meals tends to employ more processed foods as ingredients.

In this area, many oil and gas deposits have been discovered. This is intended to provide at least some of the raw materials for Hexane Production.

Covid-19 Impact:

The Global Hexane Market has been adversely impacted by the COVID-19 pandemic.

The global pandemic's emergence has had a significant influence on the oil and gas industry. As a result, severe challenges in the manufacturing of Hexane from crude oil have arisen.

Consumers' disposable income was reduced as a result of the economic slowdown induced by the pandemic. As a result, demand for products such as footwear, textiles, and cosmetics declined, and demand for Hexane in the Market decreased as well.

Type Here for table of content.


PURCHASE OPTIONS




    ADD TO CART

CONTACT US
CALL US ON
( +91-935-919-4956 )

CONTACT EMAIL
[email protected]
PURCHASE OPTIONS




    ADD TO CART

CONTACT US
CALL US ON
( +91-935-919-4956 )

CONTACT EMAIL
[email protected]