Scienza e Tecnologia
Hexane Market worth $3.1 billion by 2027 - Exclusive Report by MarketsandMarkets™
Industrial grade hexane is used in industries as a cleaning agent, in the formulation of glues, as an additive in consumer products and to extract oil and grease contaminates from soil and water for analysis in laboratories. Thus, the usage of industrial grade hexane in various industries is expected to drive demand.
Hexane is used as a reaction medium for polymerizations. Growth of major end-use industries of polymer foam such as building & construction, furniture & bedding, and packaging industry is expected to increase demand for polymers. Thus, growth in demand for polymer is expected to create high growth potential for hexane market.
Europe was the second-largest market in 2021 by value. Germany accounted for the largest market share in the region. The food industry in Germany is growing at a high rate, creating significant growth potential for the hexane market in the country. Also, the country has a strong pharmaceutical sector which contributes a significant share to the entire economy. Thus, the growth of the food and pharmaceutical sectors is expected to boost the market for hexane.
The key players in the 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.
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