Press release
Hexane Market 2020 Will Grow at Healthy CAGR of 3.4% by 2027 With Global Players - Royal Dutch Shell plc, Phillips 66 Company, Exxon Mobil Corporation
Hexane
Global hexanes market is expected to rise by registering a steady CAGR of 3.4% in the forecast period of 2019-2026.The rise in market value can be attributed to the superior properties of hexanes in the laboratories.
Hexane is a colourless and odourless cost-effective solvent. The production of hexane entirely depends upon the crude oil availability. The major application of hexane lies in the formulation of glues and adhesives. The hexane is available majorly in two forms- pure based hexane and solvent based hexane. The pure hexane is used only in the laboratories whereas the solvent based has several other applications.
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Market Drivers:
• Rising demand for hexanes for various consumer products including glues, gasoline, and cement will boost this market growth
• Prevailing use in rubber and petrochemical industry also drives the market growth in the forecast period
• High growth in applications for hexanes in the chemical laboratories will also drive the market growth
• Vegetable oils from crops such as soybeans, cottonseed, rape seed among others can also be extracted from the solvent-based hexane; this is another factor uplifting this market growth
Market Restraints:
• Lack of skilled labor is another factor which can hinder this market growth
• Accidental injuries caused by hexane in laboratories is another factor which restricts the growth of the market
Major Market Players Covered in the Hexane Market Are:
Few of the major competitors currently working in global hexane market are Royal Dutch Shell plc, Phillips 66 Company, Exxon Mobil Corporation, India Petroleum Corporation Limited, Sumitomo Chemical Co., Ltd., Liaoyang Yufeng Chemical Co., Ltd., China Petroleum & Chemical Corporation, Chevron Phillips Chemical Company, ROMPETROL., Jun yuan Petroleum Group, GreenChem Industries, LLC, Hydrite Chemical DAWN SCIENTIFIC INC., HavilandDel Amo Chemical Company Inc.Noah Technologies Corporation, Mil-Spec Industries Corporation and many others.
Global hexanes market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of hexane market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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Global Hexane Market Scope and Market Size
By Type
• n-hexane
• iso-hexane
• neo-hexane
By Grade
• Polymer Grade
• Food Grade
• Others
By Application
• Edible oil extraction
• Industrial Solvent
• Adhesive Formulation
• Leather Treatment
• Furniture
• Paints and Coatings
• Others
Regional Analysis
• Middle East and Africa
• North America
• South America
• Europe
• Asia-Pacific
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Strategic Points Covered in Table of Content of Global Hexane Market:
1. Introduction
2. Market Segmentation
3. Market Overview
4. Executive Summary
5. Premium Insights
6. By Component
7. Product Type
8. Delivery
9. Industry Type
10. Geography
11. Company Landscape
12. Company Profiles
13. Related Reports
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