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.
Get Free Sample PDF@ https://www.marketresearchfuture.com/sample_request/1057
Market Overview:
Hexane 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. Furthermore, it is used as a
cleaning agent known as a degreaser in the printing industry.
However, some industrially obtained solvents contain methyl cyclopentane
compound, which can alter hexane’s properties.
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. Leather goods are anticipated to observe higher growth rates.
Additionally, self-grooming and styling are the major trends, which are
predicted to drive the hexane market. 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.
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.
Access Report Details @ https://www.marketresearchfuture.com/reports/hexane-market-1057
Market Segmentation
The global hexane market is categorized on the basis of
grade, application, and region. On the basis of the grade, the market is
bifurcated into polymer and food. On the basis of the application, the hexane
market is categorized into the formulation, oil extraction, cleaning agent, and
others. On the basis of the region, the market is categorized into Asia
Pacific, Europe, Latin America, North America, and the Middle East & Africa.
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.
Related Report@ https://www.marketresearchfuture.com/reports/aluminum-extruded-products-market-3034
https://www.marketresearchfuture.com/reports/decorative-high-pressure-laminates-market-7743
https://www.marketresearchfuture.com/reports/magnet-wire-market-7798
https://www.marketresearchfuture.com/reports/refined-nickel-market-7868
No comments:
Post a Comment