Press release
Hexylene Glycol Market Expands as Pharma and Packaging Industries Fuel Growth
Hexylene Glycol Market
The global hexylene glycol market was valued at around US$ 187 Million in 2021, with a market volume of 73,590 tons. Hexylene glycol is witnessing high demand in the personal care and cosmetics industry since it is used as a surfactant, emulsifier, and viscosity-reducing agent in several products.
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Moreover, the growing utilization of hexylene glycol as a direct solvent in paints & coatings, household and industrial cleaners, etc., is expected to pave the way for decent sales during the forecast period (2022-2029).
"Low evaporation rate and complete miscibility with water make hexylene glycol an excellent solvent. As a result, its application across several end-use industries is projected to rise, driving market growth over the forecast period."
Key Takeaways from Global Hexylene Glycol Market Study
- Pharmaceutical and industrial-grade hexylene glycol is likely to be sought-after in the future, owing to the growth of the pharma and construction industries.
- Demand for printing inks is rapidly increasing due to the rapid growth of the packaging industry. This factor will drive the growth of the hexylene glycol market, owing to its application in the formulation of printing inks.
- Growth prospects are high in emerging markets such as India and Indonesia. Companies are focusing on different strategies to ensure a good presence in both, emerging and matured markets. Since there are limited opportunities for hexylene glycol manufacturers in developed regions, manufacturers are focusing on emerging markets to capture a larger market share.
- East Asia, South Asia, and North America are expected to be prominent regions over the forecast period, owing to the presence of a large number of tier II & III players in East Asia and tier I players in North America.
Hexylene Glycol Market: Competitive Landscape
The hexylene glycol market is fairly consolidated. Global players such as BASF SE, Solvay SA, Dow DuPont, and Lonza Group have invested strategically in the hexylene glycol market in the recent past, which suggests that major manufacturers are keeping tabs on the market, as it holds a lot of potential in the coming future.
Research & development, coupled with the expansion of production capacity and footprint, remains the key strategy being followed by hexylene manufacturers to enhance productivity and capture new market opportunities.
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Looking for More Information?
The market report on hexylene glycol published by Future Market Insights brings to the fore a pin-point analysis of the market and offers comprehensive information with historical demand data for 2014-2021 and forecast statistics for 2022-2029.
The study offers insightful information on the global hexylene glycol market based on various categories - grade (pharmaceutical and industrial), application (solvents, chemical intermediates, antifreeze, and others), and end use (construction, drugs, paints & coatings, chemicals, oil & gas, leather & textiles, and others), across seven regions.
Key Companies Profiled
Arkema Group
Solventis Ltd.
SOLVAY S.A.
Monument Chemicals, Inc.
DowDupont
BASF SE
Lonza Group
FINAR LIMITED
LANXESS
Praasol Chemicals Ltd
Hexylene Glycol Market by Category
By Grade :
Pharmaceuticals
Industrial
By End-use :
Construction
Adhesives
Concrete Additives
Drug
Pharma Excipients
Formulating Agent
Paints & Coatings
Chemicals
Oil & Gas
Leather & Textile
Others
By Application :
Solvent
Chemical Intermediate
Antifreeze
Others
By Region :
North America
Latin America
Europe
Middle East and Africa (MEA)
East Asia
South Asia
Oceania
North America Holds Noteworthy Share
North America is anticipated to hold a prominent share of the global hexylene glycol market, owing to increasing demand from the paints & coatings industry. Another key factor driving the growth of the hexylene market in North America is the focus of manufacturers on the customization of products as per specific applications. Hexylene glycol is also prominently used as an antifreeze agent in North America, which is bolstering its sales in the region.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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