Hexane Market Size, Revenue Growth Trends, Worth, 2027

Hexane Market Size, Revenue Growth Trends, Worth, 2027

Growing usage of hexane in primary end-use industries such as rubber and petrochemicals is anticipated in the coming years to fuel the global demand. It is widely used in industries including publishing, textiles, and leather as a special solvent and as an oil extractant.

The global Hexane Market is forecast to reach USD 2.57 Billion by 2027, according to a new report by Reports and Data. Hexane is used primarily for processing edible oil from seeds and vegetables. The colorless and flavorless existence coupled with desirable properties, such as low porosity and volatility, has rendered hexane a suitable solvent alternative for several applications, including chemical, organic synthesis, oil extraction, polymerization, medicinal, and industrial cleaning & degreasing. N-hexane, also known as an oil solvent, is used in a multitude of fields, from writing, rubber, clothing, makeup, paint, and so on. In recent years, n-hexane is primarily being used for computer device cleaning in the medical sector and integrated circuit (IC). The fast development of the food & beverage industry in countries like India, Indonesia, Thailand, and China are strengthening the hexane market due to the growing demand for industrial-grade hexane in the Asia Pacific region. Governments around the world are now imposing stringent controls on the usage of hexane to enhance the health of the workers and reduce the accidents of chemical installations.

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Non-polar organic solvents like tetrahydrofuran (THF), petroleum ether, are commonly used for the production of non-polar carotenes. Solvent selection is one of the most critical factors determining the efficiency of the extraction process. Despite the substantial use of hexane to remove non-polar carotenes, a combination of ethanol/acetone/hexane is widely used to obtain both non-polar and polar carotenoids concurrently. A high yield of carotenoid is produced when 45% of hexane is included in the solvent combination, where the ratio of solvent to waste is 9:1:1. Given the increasing use of hexane in carotenoid extraction, a mixture of chloroform and methanol (2:1) has demonstrated higher productivity during carotenoid extraction. Nonetheless, chloroform uses are mostly limited, owing to health and safety issues surrounding the climate.

Given the growing need for hexane as an industrial cleaner, safety risks that come with it, including nerve harm to the legs, feet, limbs, and hands, have prompted end-users to embrace other substitutes such as water-based cleaners. For starters, end-users are investigating the possibility of utilizing water-based cleaners as a substitute for hexane in the automobile repair field and numerous other sectors, where precision cleaning is crucial. Gradually, water-based cleaners appear as one of the best options across a variety of consumer goods. Hexane may be substituted within the printing industry by food- and vegetable-based cleaners. The introduction of these healthier and more efficient alternatives during the projected era could hinder the growth of the hexane industry.

The COVID-19 impact:

As the COVID-19 crisis is rising, producers are rapidly changing their business and purchasing strategies to meet the demands of a pandemic that has developed the market-based need for hexane. There will be a sequence of both positive and negative shocks over a few months as producers and their suppliers adapt to changing customer demands. Many regions, with an unfortunate global situation, look vulnerable to export-dependent economies. The impact of this pandemic will reshape the global market for hexane when some manufacturers either close down or decrease their production due to a lack of downstream demand. Although others have their development halted as a precautionary step by their respective governments to prevent the spread of the virus. While looking at the severity of the outbreak and the consequent behavior of the national authorities themselves in other nations, customers are focused on becoming more local. In these cases, business dynamics in Asia Pacific regions have become very unpredictable, weakening regularly and finding themselves impossible to stabilize.

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Key participants include NOAH Technologies Corporation, Environmental Equipment & Supply, AquaPhoenix Scientific, Mil-Spec Industries Corp., Continental Chemical, GFS Chemicals Inc., City Chemical LLC, Hydrite Chemical Co., Haviland Enterprises Inc., and Hukill Chemical Corp., among others.

Further key findings from the report suggest

  • Based on the grade, extraction grade generated a revenue of USD 0.85 billion in 2019. It projected to rise with a CAGR of 3.5% in the forecast period due to the massive developments desired by the food and extraction industries.
  • The edible oil extraction application is the major contributor to the Hexane Market. The edible oil extraction application of the Asia Pacific region is the major shareholder of the market and held around 34.3% of the market in the year 2019, owing to the increasing consumer consciousness about refined oil use and the associated health effects.
  • The Asia Pacific dominated the market for hexane in 2019. The region’s consistent focus on cost-effective and innovative procedures that are adopted in the area is driving the market. The Asia Pacific region held approximately 36% of the market, followed by Europe, which contains around 28% market in the year 2019.

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For the purpose of this report, Reports and Data have segmented into the global Hexane Market on the basis of grade, distribution channel, application, and region:

Regional Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

  • North America
  • US
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Benelux
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • South Korea
  • Rest of APAC
  • MEA
  • Saudi Arabia
  • UAE
  • Rest of MEA
  • Latin America
  • Brazil
  • Rest of LATAM

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Grade Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

  • Polymerization
  • Extraction

Distribution Channel Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Billion; 2017-2027)

  • Online
  • Offline

Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

  • Edible Oil Extraction
  • Industrial Solvent
  • Adhesive Formulation
  • Leather Treatment
  • Others

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