Global N-Hexane Market to Reach US$ 3,143.2 Million by 2028, Stimulated by Rising Consumption of Edible Oils

According to the latest report by IMARC Group, titled “N-Hexane Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global n-hexane market size reached US$ 2,549.6 Million in 2022. 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$ 3,143.2 Million by 2028, expanding at a CAGR of 3.45% during 2023-2028.

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:

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