Global N-Hexane Market to Reach US$ 3,493.0 Million by 2032, Stimulated by Rising Consumption of Edible Oils

August 23, 2023 | Chemical & Materials

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According to the latest report by IMARC Group, titled “N-Hexane Market Report by Application (Edible Oil Extraction, Healthcare, Industrial Solvent, Adhesive Formulation, and Others), and Region 2024-2032,” the global n-hexane market size reached US$ 2,640.1 Million in 2023. N-hexane is a volatile, colorless liquid that belongs to the class of hydrocarbons known as alkanes. It is an aliphatic hydrocarbon with a mild, gasoline-like odor. It is procured from natural gas and crude oil and can also be synthesized by using sugar cane wastes in the presence of special catalysts. It is characterized by a notably low freezing point and exhibits considerable flammability and demonstrates an ability to mix readily with other hydrocarbons and organic solvents. Besides this, it possesses non-polar properties and low reactivity, on account of the stable nature of the carbon-carbon single bonds. It is used as a solvent in the extraction of edible oils from seeds and production of glue and varnish removers.

Global N-Hexane Market Trends:

The growing consumption of edible oils due to the rising global population represents one of the key factors driving the market. Additionally, there is an increase in the utilization of n-hexane in formulating pharmaceutical products. Besides this, the growing use of adhesives in the construction industry is catalyzing its demand across the globe. Moreover, the widespread adoption of n-hexane in the production of adhesives, which is further employed in the automotive industry, is contributing to the market growth. Besides this, n-hexane is used in producing high-quality fuel and lubricants and the increasing demand for these products is contributing to the market growth. Additionally, the growth of the textile industry, wherein n-hexane is used in dyeing and printing processes, is offering a favorable market outlook. Furthermore, the use of n-hexane as a solvent in paints and coatings production is positively influencing the market. Moreover, the introduction of technological advancements in extraction and refining processes is improving the efficiency of n-hexane usage, which is resulting in the rising product demand. Looking forward, the market value is projected to reach US$ 3,493.0 Million by 2032, expanding at a CAGR of 3.1% during 2024-2032.

Market Summary:

On the basis of the application, the market has been divided into edible oil extraction, healthcare, industrial solvent, adhesive formulation, and others. Edible oil extraction currently accounts for the majority of the total market share.
Region-wise, the market has been categorized into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. Amongst these, Asia Pacific enjoys the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being Rompetrol, Royal Dutch Shell plc, Exxon Mobil Corporation, China Petrochemical Corporation, and Junyuan Petroleum Group.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million, Million Tons
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Application Region
Applications Covered	Edible Oil Extraction, Healthcare, Industrial Solvent, Adhesive Formulation, Others
Regions Covered	Asia Pacific, Europe, North America, Middle East and Africa, Latin America
Companies Covered	Rompetrol, Royal Dutch Shell PLC, Exxon Mobil Corporation, China Petrochemical Corporation and Junyuan Petroleum Group
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global N-Hexane Market to Reach US$ 3,493.0 Million by 2032, Stimulated by Rising Consumption of Edible Oils

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