International N-Hexane Market to be Pushed by the Rising Utilisation in Edible Oil Extraction within the Forecast Interval by 2026, Enterprise Information
Global Hexane Market Size, Share, Price, Trends, Growth, Analysis, Demand, Key Players, Outlook, Report, Forecast 2021-2026 | ExpertMarketResearch.com
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EMR’s new report, titled Global N-Hexane Market Report and Forecast 2021-2026, provides an in-depth analysis of the global N-Hexane market and rates the market on the basis of its segments such as Applications and major regions. The report tracks the latest trends in the industry and examines their impact on the overall market. It also assesses market dynamics, covers key demand and price indicators, and analyzes the market based on the SWOT and Porter’s Five Forces models.
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The main highlights of the report include:
Market overview (2016-2026)
• Historical market size (2020): 1.75 million tons
• Projected CAGR (2021-2026): 3.1%
• Projected market size (2026): 2.18 million tons
The n-hexane market is being driven by the increasing demand for n-hexane due to the flourishing food industry. N-hexane is used to extract edible oils from seeds and vegetables and is also known as a specialty solvent. In the forecast period, the expected increase in demand in the food and beverage industry due to the growing population and people’s increasing propensity for health and fitness is likely to be a major growth factor in the n-hexane market. In addition, the market is supported by the increasing demand for commercial hexane grades for the production of glues, lacquers and inks. The booming construction industry in the world’s emerging countries should therefore give the n-hexane market an impetus in the forecast period. In terms of region, Asia-Pacific holds the largest share of the market and is likely to maintain its dominance during the forecast period.
Industry definition and main segments
N-hexane is a highly volatile hydrocarbon and an ozone precursor. It is an organic compound with a straight-chain alkane with six carbon atoms and has the empirical formula C6H14. It is obtained by refining the crude oil.
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Major uses of n-hexane include:
• Edible oil extraction
• Health care
• Industrial solvent
• Adhesive formulation
• Other
Of these, the edible oil extraction segment has the largest market share.
Regional markets for n-hexane include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Among these, the Asia-Pacific region has the largest market share.
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Market trends
Growing concerns and investments, coupled with favorable government policies regarding wastewater management, are expected to support the global n-hexane market. In addition, the strong growth of the food processing and food and beverage industries in countries such as India and China is expected to contribute to the growth of the industry due to increasing populations, increasing urbanization and increasing sales of clean label foods. Technological advances in textile manufacturing are likely to be another major trend in the market over the forecast period.
Important market participants
The main players in the market include Royal Dutch Shell plc, Exxon Mobil Corporation, GFS Chemicals, Inc. and the Junyuan Petroleum Group. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, and other recent developments of these market players.
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