H1 2023: The top players in the global n-Hexane market in H1 2023 were Indian Oil Corporation Limited, Kazmunay Gas International, and ExxonMobil Chemical. Geographically, Asia Pacific was the largest consumer of n-Hexane in terms of volume in the first half of 2023. However, the region experienced fluctuations in the n-Hexane prices in H1 2023. In January 2023, n-hexane trading fundamentals improved, and an uptick in feedstock crude oil supported the bullish price trend. The price increase was attributable to an increase in purchasing activity from Asian and international markets, as well as the consistent demand for this product from edible oil and adhesives downstream sectors. The n-hexane market fell in February and March 2023 as demand turned to weak and the upstream crude oil prices lagged in the Asia Pacific region. The Asian market dynamics turned to the positive side in April 2023. The edible oil and adhesives sectors’ regional demand for n-hexane increased, which caused a small increase in its prices, and contributed to the market's bullishness. In addition, due to the limited supply of the n-Hexane and slow production operations, there were low stocks in the market in the Asian markets. However, from mid-May to June, n-Hexane had a dip in prices owing to hazy demand in Asia. However, in the European market, n-hexane prices were low in the first three months of 2023 as the n-hexane market was under a lot of stress due to weak demand and recessionary fears. April 2023 onwards, the n-Hexane market moved towards a positive side in Europe. There was healthy consumption by the downstream sectors along low supply rate resulted in the hike of n-Hexane prices in Europe.
H1 2022: During H1 2022, the top players in the global n-Hexane market were KazmunayGas International, ExxonMobil Chemical, and Indian Oil Corporation Limited. However, KazmunayGas International was the largest producer of n-Hexane in H1 2022. Geographically, Asia Pacific held the position of the largest consumer of n-Hexane in terms of volume in H1 2022. The n-Hexane market in this region witnessed a surge in prices in most of the H1 2022. This rise was driven by increased demand for solvents in paints & coatings manufacturing across Asian countries like India and petroleum extraction. However, situations like supply shortages in the region due to the high upstream oil prices in mid-March 2022 and the Russian invasion of Ukraine highly affected the production rates and operating costs of n-Hexane plants in the region. Crude oil prices rose, and demand was strong in the Asian nations. Europe also held significant market shares in H1 2022. Increased demand for n-Hexane from end-user industries like adhesives, coatings and paints sectors led to the upward trend of the product in the region. The inventory levels decreased, and fewer products were available in the inventory. In addition, upstream oil prices were volatile due to the past war between Russia and Ukraine.
H2 2022: In H2 2022, Asia Pacific displayed fluctuation in the n-Hexane prices. From July 2022 onwards, the n-Hexane prices in Asia witnessed a downfall. Several factors are driving down the price of n-hexane in China such as lockdown measures implemented by local government. Other reasons causing the downfall in prices was the decline in upstream crude oil prices due to the economic downturn in the Asian oil market. However, in August 2022, the downstream industries which involved the usage of n-hexane, had to lower the production rates due to the impact of the sudden power outage, causing the prices of n-Hexane to drop across Asia. However, n-Hexane prices increased in the Asia-Pacific region from October 2022. In the Chinese market, the main drivers of price increase were increased demand for products and the huge sum of raw materials in warehouses and inventories. The product supply was sufficient to meet increased demand from various industries in the region. However, in Germany, the price of n-Hexane dropped in October and November 2022 as a result in fall in demand from downstream companies that cut production due to rising energy costs following the ongoing conflict between Russia and Ukraine.
The global n-Hexane demand stood at approximately 1300 thousand tonnes in 2022 and is expected to grow at a CAGR of 3.24% during the forecast period until 2032.
n-hexane is a volatile aliphatic hydrocarbon that can be synthesized using both natural gas and crude oil using the fractional distillation process. By using specific catalysts, it can also be produced from sugar cane waste. For a variety of seed crops, including soybeans, cottonseed, rape seed, mustard seed, peanuts, flax (linseed), safflower seed, and corn germ, n-hexane is primarily utilized as an edible-oil extractant. These seed crops are further processed into foods for humans and animals. Other significant applications for n-Hexane as a special-purpose solvent and cleaning agent (degreaser) include the production of textiles, footwear, leather, and furniture. n-hexane may be present in a variety of glues, adhesives, and leather-dressing preparations, particularly those used in the manufacturing of shoes. In addition, the pharmaceutical sector is one of the biggest consumers of n-hexane due to its use in numerous syntheses and separations, as well as the shape of pills and tablets.
During the course of the projection period, n-high Hexane's demand from the food industry is anticipated to fuel market expansion. Because it provides excellent yield from a variety of seeds, n-hexane is frequently employed as an extraction agent for edible oils. This is anticipated to result in significant demand from the food industry for n-Hexane. Furthermore, the application of n-Hexane for manufacturing adhesives and sealants which have applications in various industries also contributes to the n-Hexane market expansion. The size of the global n-Hexane market in terms of volume is estimated to reach nearly 1800 thousand tonnes by 2032.
Based on region, Asia Pacific is dominating the global n-Hexane market, followed by Europe. In 2022, Asia Pacific held a market share of more than 50% of the global n-Hexane. Accelerating demand for refined oil for cooking purposes in developing countries like India and China is majorly contributing to the n-Hexane market. In terms of production, the Asia Pacific region is again dominating the global n-Hexane market.
Based on the end-user industry, the global n-Hexane market is segmented into Edible Oil Extractant, Adhesives & Sealants, Paints & Coatings, Industrial Solvent, and Others. Among these, the Edible Oil Extractant sector is in the lead and held approximately 45% of the market share in 2022. Additionally, the Adhesives & Sealants sector is also a prominent consumer of the n-Hexane market.
Major players in the production of Global n-Hexane are KazmunayGas International, ExxonMobil Chemical, Indian Oil Corporation Limited, Chennai Petroleum Corporation Limited, Jun Yuan Petroleum Group, Bharat Petroleum Corporation Limited, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of n-Hexane which covers production, demand and supply of n-Hexane market in the globe.
• To analyse and forecast the market size of n-Hexane
• To classify and forecast Global n-Hexane market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of n-Hexane market in the globe.
To extract data for Global n-Hexane market, primary research surveys were conducted with n-Hexane manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global n-Hexane market over the coming years.
ChemAnalyst calculated n-Hexane demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce n-Hexane. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• n-Hexane manufacturers and other stakeholders
• Organizations, forums and alliances related to n-Hexane distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as n-Hexane manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global n-Hexane market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
1300 thousand tonnes
Market size Volume by 2032
1800 thousand tonnes
Growth Rate
CAGR of 3.24% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Policy and Regulatory Landscape.
Segments covered
By End-Use: (Edible Oil Extractant, Adhesives & Sealants, Paints & Coatings, Industrial Solvent, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of n-Hexane market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for n-Hexane.
3. Capacity By Location
To better understand the regional supply of n-Hexane by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of n-Hexane by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Edible Oil Extractant, Adhesives & Sealants, Paints & Coatings, Industrial Solvent, and Others) are creating a market and the forecast for the growth of the n-Hexane market.
7. Demand by Region
Analyzing the change in demand of n-Hexane in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell n-Hexane. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of n-Hexane.
10. Company Share
Figure out what proportion of the market share of n-Hexane is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of n-Hexane.
12. Policy and Regulatory Landscape
Gain a comprehensive understanding of the policy and regulatory landscape within the n-Hexane market.
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Member - Board of Directors
Osaka Gas Co. Ltd
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was global market size of n-Hexane in terms of volume in 2022?
Ans:
The global market size of n-Hexane has grown significantly in the historic period of 2015-2022 and reached nearly 1300 thousand tonnes in 2022.
Q2.
Which region is leading as a consumer of n-Hexane?
Ans:
Asia Pacific is the leading consumer of n-Hexane on the global scale and held a market share of more than 50% in 2022.
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