Hexane Market Size And ForecastHexane Market was valued at USD 1.88 Billion in 2019 and is projected to reach USD 2.46 Billion by 2027, growing at a CAGR of 3.4% from 2020 to 2027.
The Global Hexane Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market is outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Hexane Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.
Hexane Market was valued at USD 1.88 Billion in 2019 and is projected to reach USD 2.46 Billion by 2027, growing at a CAGR of 3.4% from 2020 to 2027.
What is Hexane?
Hexane is a mixture of hydrocarbons with six carbon atoms, a straight-chain alkane. It is a colorless liquid, odorless when pure. It is widely used as a highly volatile, cheap, relatively safe, and easily evaporated non-polar solvent. It is highly reactive with oxidizing materials such as concentrated oxygen, liquid chlorine, and sodium hypochlorite. It has a range of applications such as oil extraction, polymerization, chemical organic synthesis, pharmaceutical, and industrial cleaning & degreasing, among others. However, volatility in the global crude oil prices might hamper the market growth during the forecasted period.
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Global Hexane Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
The adoption of hexanes among the carotenoid extraction industry is increasing. Solvents containing hexane used to extract vegetable oil from crops, various seeds, and also as cleaning agents in the textile, shoemaking, furniture, and printing industries. Additionally, an increase in demand for hexane in oil extraction and industrial cleaning & degreasing applications has helped in market growth. Thus a wide range of applications is driving the market for hexane during the forecasted period. However, the availability of safer and efficient substitutes might hamper the market growth.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Hexane Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Hexane Market Competitive Landscape
The “Global Hexane Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Exxon Mobil Corporation, Royal Dutch Shell plc., Phillips 66, Rompetrol Rafinare, Sumitomo Chemical Co. Ltd., Petroleo Brasileiro SA, Bharat Petroleum Corporation Ltd, Hindustan Petroleum Corporation Limited, China Petroleum & Chemical Corporation, and Indian Oil Corporation Ltd. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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Hexane Market, By Grade
• Pharmaceutical
• Oil Extraction/Food
• Industrial
Hexane Market, By Application
• Pharmaceuticals
• Oil Extraction
• Polymerization
• Industrial Cleaning & Degreasing
• Others
Hexane Market Geographic Scope
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Rest of the World
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