The global hexane industry is projected to reach USD 3.1 Billion by 2027 from USD 2.4 Billion in 2022, at a CAGR of 4.8%, during the forecast period. The market is witnessing growth majorly due to growing demand of edible oils. Also, high demand from the pharmaceutical industry is expected to drive the market for hexane.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=91763483
Based on grade, the hexane market is segmented into oil extraction/food grade, industrial grade, and pharmaceutical grade. Among the grades, Oil extraction/food grade accounted for largest share in 2021, in terms of value. Oil extraction/food grade hexane is widely for the extraction of edible oils. It helps extract the maximum possible quantity of oil from seeds and vegetables, without disturbing their nutritional content. Thus, the usage of hexane as an extraction solvent, fuels the growth of this segment.
Based on application, the hexane market is segmented into oil extraction, industrial cleaning & degreasing, pharmaceutical, polymerization, and others. The oil extraction segment accounted for largest share in 2021, in terms of value. The growth can be attributed to increasing population, and improvement in standards of living, which are leading to increase in demand for edible oil. Thus, the increased consumption from food processing sector is expected to drive the market for hexane.
Based on region, the hexane market is segmented into Asia Pacific, North America, Europe, Middle East & Africa, and South America. Asia Pacific is the largest and fastest growing market for hexane, in terms of value, in 2021. The rising demand for hexane in edible oils, pharmaceutical products, adhesives, and paints & coatings in China, India, US, Japan, and South Korea is driving the market in Asia Pacific.
Inquire Now: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=91763483
Some of the leading players in hexane market include China Petroleum & Chemical Corporation (China), Shell plc (UK), Exxon Mobil Corporation (US), Rompetrol-Rafinare (Romania), Junyuan Petroleum Group (China), TotalEnergies (France), Phillips 66 Company (US), Indian Oil Corporation Ltd (India), Petróleo Brasileiro S.A. (Brazil), Bharat Petroleum Corporation Limited (India), Hindustan Petroleum Corporation Limited (India), Honeywell International Inc. (US), Sumitomo Chemical (Japan), among others.
Read Our Trending Press Release Below:
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Comments (0)