Hexylene glycol is a colorless liquid with a characteristic odor. It is produced industrially from acetone which has two alcohol functions, by hydrogenation process. It is completely miscible in water and has low evaporation rate. It can be found in a wide variety of products that are used industrially and commercially. Its low volatility and high viscosity are beneficial in cleansers, coatings, cosmetics, hydraulic fluids and solvents.
The hexylene glycol market is being driven by several growth factors. An increased demand for viscosity-reducing agent, surfactant, and emulsifier in personal care and cosmetics products and high adoption of hexylene glycol by chemical, paints and coating, leather, and other end-use industries are major factors that attributed to the market growth. In addition, factors such as rapid growth in the global chemical, paints and coating and personal care industry and rising consumer awareness regarding health and hygiene are further likely to contribute to the market growth.
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The study analyses global hexylene glycol market based on grade, application, end use, and geography.
Hexylene glycol market by grade is segmented into pharmaceutical and industrial. The industrial segment dominated the market in 2020 and is projected to maintain its dominance a considerable growth rate during the forecast period. Increasing significance and demand for industrial grade hexylene glycol in industries such as construction, paint and coating, chemical, oil and gas and many others is accredited to the market growth.
The market finds application in solvents, chemical intermediate, antifreezes, and others. Solvent segment is anticipated to witness high growth in the coming years. Hexylene glycol is mostly used as a coupling agent or solvent. It is a potential alternative for glycol ethers. It is an important solvent in various markets such as metal working fluids, paints & coatings, cosmetics & fragrances, detergency, and textiles & leather.
By end use, the market is segmented into construction, drugs, paints & coatings, chemicals, oil & gas, leather & textiles, and others. Paints & coatings segment is expected to observe significant growth rate during projection period. The single and largest user of hexylene glycol is the paint and coating industry. It is a major element in varnishes and lacquers, and is a solvent plasticizer in surface coatings. It is also an important element in both water and oil based paints, and in paint strippers.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. North America held the largest market share of global hexylene glycol market and is likely to dominate the market over the estimated time frame. Presence of well-established and growing end-use industries such as chemical, oil & gas, and paints & coatings and cosmetics and personal care are boosting the market growth in the region. Increasing construction activities in developing economies of Asia Pacific such as India, China, Indonesia and Vietnam is flourishing the demand for hexylene glycol in the region.
The major key players of market includes Praasol Chemicals Ltd, Solventis Ltd, SOLVAY S.A, Monument Chemicals, Inc, Dow, BASF SE, Lonza Group, FINAR LIMITED, LANXESS, and Arkema Group among others.
The study analyses global Hexylene Glycol market based on grade, application, end use, and geography. Hexylene glycol market by grade is segmented into pharmaceutical and industrial. The industrial segment is likely to dominate the market over the forecast period. Increased adoption of hexylene glycol in several end use industries is attributed to the market growth. The market finds application in solvents, chemical intermediate, antifreezes, and others. By end use, the market is segmented into construction, drugs, paints & coatings, chemicals, oil & gas, leather & textiles, and others. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World.
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