The global hexane market is
expected to reach USD 2.36 billion by 2024, according to a new report by Grand
View Research, Inc. The growth of oil extraction industry is expected to remain
a key factor driving the global hexane market over the forecast period.
Growing use of hexane
across key end-use industries such as rubber and petrochemical is anticipated
to boost the global market over the next eight years. It is extensively used as
a special purpose solvent and as an oil extractant in industries such as
printing, textiles, and leather.
Extraction emerged as
the dominant grade owing to its wider applicability and demand from growing
edible oil industry. The grade accounted for over 55% of the overall
consumption in 2015. Edible oil demand has been witnessing significant growth
for the past few years owing to increasing consumption of fried food.
Factors such as rising
purchasing power of consumers along with evolving dietary habits have led to a
shift in consumer preference towards consuming healthy edible oils. This is
expected to drive the growth of the global edible oils market during the
forecast period making edible oil extractant the dominant hexane application.
Browse full report by Grand View
Research : http://www.grandviewresearch.com/industry-analysis/hexane-market
Further key findings from the report suggest:
·
Polymerization grade is expected to witness
growth owing to the superior chemical and physical properties required in key
end-use industries such as waste water treatment
·
Edible oil treatment and industrial
solvents were the major applications of hexane and these segments collectively
accounted for over 70% of the overall volume in 2015.
·
Adhesive formulation application is
expected to be among the fastest growing segment owing to the increasing
opportunities for the market to expand as manufacturers seek enhanced
performance requirements for bonding application
·
Asia Pacific is expected to be the fastest
growing market for over the forecast period. Rapid industrialization and
urbanization, particularly in China, India, and South East Asian countries are
expected to drive the regional growth
·
Safer and cleaner substitutes are being
made available commercially for particular applications. For instance, water
based cleaners are expected to replace hexane and other related solvents in the
auto repair industry and other industries where precision cleaning is of utmost
importance
·
Industry competition is characterized by
production capacities of the companies. Forward integration along the value
chain provides companies with opportunities to increase their reach to
customers
·
Key players operational in the global
hexane industry include Mil-Spec Industries Corp., Environmental Equipment
& Supply, GFS Chemicals, Inc. and Continental Chemical, City Chemical LLC.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/organic-chemicals-and-compounds
Grand View Research has
segmented the hexane market on the basis grade, application and region:
Global Hexane Grade Outlook (Volume, Kilo Tons; Revenue,
USD Million, 2014 - 2024)
·
Polymerization
·
Extraction
·
Others
Global Hexane Application Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2024)
·
Edible Oil Extractant
·
Industrial Solvent
·
Adhesive Formulation
·
Leather Treatment
·
Others
Global Hexane Regional Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2024)
·
North America
o U.S.
·
Europe
o Germany
o UK
·
Asia Pacific
o China
o India
o Japan
·
Central & South America
o Brazil
·
Middle East & Africa
o Saudi Arabia
o UAE
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-hexane-market
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
No comments:
Post a Comment