Hexane Market Recent Study Including Growth Factors, Emerging Technologies, Development Status, Forecast to 2023
Hexane Market Overview
Hexane Market is an unreactive, colorless, odorless and relatively cost-effective solvent. It is insoluble in water and highly flammable, volatile, and colorless liquid. It is widely used in the manufacturing and extraction of edible oils from nut and vegetable crops, such as soybeans and peanuts.
Hexane is used as a solvent for glues and varnishes. However, the presence of toxic contaminants in hexane solvent, which is wholly utilized in the food processing industry, pose a threat to the growth of hexane market in the assessment period.
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As per our analysis, some of the prominent market factors and trends identified in the global hexane market include rapidly increasing food processing industries owing to food supply to expanding the population, rising demand for leather products, and increasing expenditure on research activities. Hexane formulations play a vital role in the manufacturing leather products. Excellent immiscibility, cleaning, and degreasing properties of hexane are anticipated to drive the market growth during the forecast period. Growing demand for refined oils remains the key growth-inducing factor where hexane is utilized as an extraction solvent.
Hexane Market – Competitive Analysis
Some of the prominent players operating in the global hexane market are Royal Dutch Shell plc (the Netherlands), Phillips 66 Company (U.S.), Exxon Mobil Corporation (U.S.), Bharat Petroleum Corporation Limited (India), Sumitomo Chemical Co., Ltd. (Japan), Liaoyang Yufeng Chemical Co., Ltd. (China), China Petroleum & Chemical Corporation (China), Chevron Phillips Chemical Company (U.S.), Rompetrol S.A. (Romania), and Junyuan Petroleum Group (China) among others.
Hexane Market – Segmentation
The global hexane market is categorized based on grade, application, and region.
Based on the grade, the market is bifurcated into polymer and food.
Based on the application, the hexane market is categorized into the formulation, oil extraction, cleaning agent, and others.
Based on the region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
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Hexane Market – Regional Analysis
North American hexane market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate. In the North American region, the U.S. is predicted to be the major contributor to the regional growth of hexane market and is expected to see a significant demand for hexane during the forecast period, 2017-2023 owing to rising demand for decreasing application in many industries. In Europe, the demand for hexane is predicted to grow in various countries such as Italy, Germany, Spain, the U.K, France, and Russia on account of increasing expenditure in the leather industry and growing purchasing power of consumers.
Latin American countries such as Argentina, Colombia, and Brazil are also predicted to witness a substantial growth owing to the abundant presence of palm oil, which is primarily grown in the tropical region of the world. Asia Pacific hexane market is predicted to grow at a moderate CAGR due to increasing population and expanding food processing industries in India and China.
Hexane Market – Table of Contents
1 Executive Summary
2 Scope of The Report
3 Market Research Methodology
To Be Continue……
List of Tables:
Table 1 World Population By Major Regions (2016 To 2030)
Table 2 Global Hexane Market: By Region, 2016-2023
Table 3 North America Hexane Market: By Country, 2016-2023
To Be Continue……
List of Figures:
FIGURE 1 Global Hexane Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Hexane Market
To Be Continue……
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