Hexane is a common industrial chemical derived from petroleum and crude oil refinement. Pure n-hexane occurs in crude oil in small percentages and can be isolated from a number of oil fractions from the refinery process (e.g. light and heavy naphtha, light gasoline or BTX (benzene, toluene, and xylene). Commercial hexane is a mixture that contains approximately 52% n-hexane. Other compounds in the mixture are e.g. varying amounts of structural isomers and related chemicals, such as methyl pentane and methyl cyclopentane.
Hexane has gained recognition over the past few years, especially as an industrial solvent owing to its outstanding performance characteristics such as easy miscibility, low solubility, low impurities and colorless nature. Qualities such as color preservation of original material along with the ability to remove unwanted taste provide a competitive edge to the market growth. The steady growth of the end-use industries and manufacturing sector is propelling the demand of hexane in Asia-Pacific region. Additionally, China and India would grow the fastest in this region as a result of a huge manufacturing industry, increasingly favorable regulatory environment and the low cost of production & lenient regulation. Other regions such as Europe and countries such as the U.S. could also considerably contribute toward the growth of the global hexane market while riding on their flourishing pharmaceutical & chemical industry.
Among various key regions, the Asia Pacific region dominated the global hexane market in 2019. Growing demand from extraction application is expected to propel the market growth over the forecast period. Rapid industrialization coupled with expanding healthcare facilities is expected to fuel the Asia Pacific hexane market. The demand for hexane is predicted to surge in numerous countries of the Asia Pacific region such as China, India, etc. owing to an increased supplement of cooking oils.
The key competitors of this market include Royal Dutch Shell Plc (Netherlands), Phillips 66 Company (United States), Exxon Mobil Corporation (United States), Bharat Petroleum Corporation Ltd. (India), Sumitomo Chemical Co. Ltd. (Japan), Liayang Yufeng Chemical Co. Ltd. (China), Hindustan Petroleum Corporation Limited (India), Thai Oil Public Company Limited (Thailand), Rompetrol S.A. (Netherlands), Junyuan Petroleum Group (China) and Petroleo Brasileiro SA (Brazil).
Companies operating in the global hexane market are expected to focus on expanding their product portfolio to gain a competitive edge in the highly competitive hexane market landscape. Moreover, active players in the hexane market are likely to gain market share by leaning toward research and development activities and diversifying their product range. Thus, product launches, mergers & acquisitions, and formulation of impactful strategic partnerships will be a common trend, as companies are seeking different ways to improve their position in the hexane market
The report analyses the global hexane industry based on grade, application and geography. Various grades included in the report are food grade/extraction, pharmaceutical and industrial. Hexane is used in different applications such as, oil extraction, industrial cleaning & degreasing, polymerization, pharmaceuticals and others (including adhesives, solvents, rubber processing and chemical intermediates). The global hexane market is studied across various key countries of regions such as, North America, Europe, Asia Pacific and Rest of the world.
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