The global n-hexane market reached a volume of 2.71 Million Tons in 2018, registering a CAGR of 2.8% during 2011-2018. N-hexane is a volatile aliphatic hydrocarbon which is obtained from crude oil and natural gas. It can also be synthesized from sugar cane wastes by using special catalysts. It is colorless in the purest form with a slightly unpleasant odor. It is highly flammable in nature and possesses explosive vapors due to which it has to be mixed with other solvents prior to use in the production of different products. It is commonly used in the form of an industrial chemical and laboratory reagent. Solvents containing n-hexane are also used for extracting vegetable oils from oilseeds such as sunflower, corn and soybeans.
N-hexane is widely used as a primary solvent for industrial and chemical products such as leather, paint, polypropylene and rubber. Growth in the sales of these products is expected to drive the demand for n-hexane during the forecast period. Apart from this, the pharmaceutical industry represents one of the largest consumers of n-hexane as it used for shaping pills and tablets along with use in various synthesis and separations. Moreover, it offers multiple advantages over other solvents such as cost-effectiveness and recyclability. Additionally, it is easy to remove it from solids and oil owing to which there has been an apparent shift towards its use in different applications. According to IMARC Group, the market is projected to reach a volume of 2.98 Million Tons by 2024, exhibiting a CAGR of 1.5% during 2019-2024.
Breakup by Application:
At present, n-hexane is majorly used as an edible oil extractant as it provides a high yield from oilseeds. Another advantage it offers in oil extraction is its recyclability as it can be reused after the extraction process. It also removes unwanted taste and odor from the oil, unlike other extraction agents.
On the geographical front, Asia-Pacific represents the largest regional market. This can be attributed to the increasing population and growing demand for refined oil in countries like China and India.
The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
The essential aspects of the global n-hexane market evaluated in the report include:
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