Summary
Hexane Market Research Report by Type (Iso-Hexane, n-Hexane, and Neo-Hexane), Grade, Application, Region - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Global Forecast 2023-2030
The Global Hexane Market size was estimated at USD 2,150.46 million in 2022 and expected to reach USD 2,254.76 million in 2023, projecting growth at a CAGR of 5.30% to reach USD 3,252.66 million by 2030.
Market Statistics:
The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make better decisions. In this report, the years 2018 to 2021 are considered as historical years, 2022 as the base year, 2023 as the estimated year, and years from 2024 to 2030 are considered as the forecast period.
Cumulative Impact of COVID-19:
COVID-19 has impacted the demand for hexane through reduced industrial production due to lockdowns and other preventative measures in response to the pandemic. Many industries have been forced to reduce operations or shut down entirely due to supply chain disruptions, decreasing demand for hexane. This decrease in demand has led to reduced prices for hexane and fewer profits for some manufacturers.
Cumulative Impact of Russia-Ukraine Conflict:
The ongoing conflict between Russia and Ukraine has added further instability to a volatile global hexane market. This conflict has led to increased geopolitical tensions between Russia and its neighboring countries, resulting in reduced trade. The lowered trade and exports in Russia and Ukraine have decreased demand for hexane used by various industries, leading to declining profits and manufacturers’ prices.
Cumulative Impact of High Inflation:
High inflation rates have resulted in decreased consumer spending power worldwide. Manufacturers must focus on scale manufacturing to stay profitable in changing market conditions with the increased costs associated with producing hexane due to higher inflation rates.
Market Dynamics:
The market dynamics represent the ever-shifting landscape of the Global Hexane Market by providing actionable insights into supply and demand levels. Taking such factors into account helps inform strategies, investments, and future developments to capitalize on opportunities or avoid potential pitfalls related to political, geographical, technical, social, and economic conditions. Such market observations also highlight consumer behaviors while influencing both manufacturing costs as well as consumer purchasing decisions.
- Drivers
- Rising Demand for Hexane in the Edible Oil Industry to Enhance Oil Extraction
- Significant benefits and increased demand for high-efficiency solvents in the paints & coatings industry
- Applications of hexane in the rubber and petrochemical industry owing to its exceptional performance characteristics
- Restraints
- Health concerns associated with physical exposure to hexane
- Opportunities
- Increased emphasis on continuous improvements in production processes
- Launch of innovative polymer and food grade hexane products
- Challenges
- Inclination of end-use industries towards green solvents and availability of alternate solvents
Market Segmentation & Coverage:
- Based on Type, the market is studied across Iso-Hexane, n-Hexane, and Neo-Hexane.
- Based on Grade, the market is studied across Food Grade and Polymer Grade.
- Based on Application, the market is studied across Oil Extraction, Pharmaceuticals, and Polymerization.
- Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.
This research report categorizes the Global Hexane Market in order to forecast the revenues and analyze the trends in each of the following sub-markets:
Company Usability Profiles:
The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Hexane Market, including A. B. Enterprises, AquaPhoenix Scientific, LLC, Arham Petrochem Private Limited, Asahi Kasei Corporation, BASF SE, Bharat Petroleum Corporation Limited, China Petrochemical Corporation, Evonik Industries AG, Exxon Mobil Corporation, GFS Chemicals, Inc., Hindustan Petroleum Corporation Limited, Honeywell International Inc., Hwatsi Chemical Pvt. Ltd., Indian Oil Corporation Limited, Jun Yuan Petroleum Group, Liaoning Yufeng Chemical Co., Ltd., Merck KGaA, Otto Chemie Pvt. Ltd., Phillips 66 Company, Rompetrol Rafinare by KMG International N.V., Shell PLC, Spectrum Laboratory Products, Inc., Sumitomo Chemical Co., Ltd., Toray Industries, Inc., and TotalEnergies SE.
The report provides insights on the following pointers:
- Market Penetration: Provides comprehensive information on the market offered by the key players
- Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
- Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
- Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
- Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
- What is the market size and forecast of the Global Hexane Market?
- What are the inhibiting factors and impact of COVID-19 shaping the Global Hexane Market during the forecast period?
- Which are the products/segments/applications/areas to invest in over the forecast period in the Global Hexane Market?
- What is the competitive strategic window for opportunities in the Global Hexane Market?
- What are the technology trends and regulatory frameworks in the Global Hexane Market?
- What is the market share of the leading vendors in the Global Hexane Market?
- What modes and strategic moves are considered suitable for entering the Global Hexane Market?
