Scienza e Tecnologia
Non-Polar Carotene Derivation to Position Hexane Market at US$ 3.05 Bn in 2032.
NEW YORK , June 23, 2022 /PRNewswire/ -- The global hexane market is expected to grow at a CAGR of 3.3% from 2022 to 2032. According to the report, sales of hexane compound are likely to reach US$ 2.21 Bn in 2022 and US$ 3.05 Bn in 2032.
Increasing demand for food products due to rising population is expected to spur growth in the market. Compound n- hexane is extensively used for extraction of edible oil, which is expected to drive sales in the market.
Global industrialization has led to surging demand for solvents. As hexane has accurate solvent formulation, demand is expected to grow over the forecast period. In addition to that, hexane is known for its exceptional properties such as low water solubility, transparency and being easily mixable with alcohol & chloroform.
The extensive use of hexane in healthcare and pharmaceutical sectors is likely to propel the market during the assessment period. Further, hexane is used in liquid form to manufacture table molds and low- temperature thermometers. Based on the aforementioned factors, sales in the market are expected to remain high in the forthcoming years.
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Increasing consumption of hexane in adhesives manufacturing is anticipated to augur well for the market. Hexane is used in the formulation of rubber cement which is an opaque liquid primarily used for gluing various products together. The perfect example of rubber cement is silicon.
Utilization of hexane as a degreaser or special-purpose solvent in shoe and leather and furniture manufacturing industries is another crucial factor accelerating the demand for hexane.
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Leading manufacturers in the global hexane market are investing in research & development for diversity in their product portfolio. Also, some players are entering into strategic collaboration, and partnership with other players to reach a broader consumer base.
In EFSA, a leading European food safety authority issued a positive opinion regarding the safety of methyloxolane in food processing. Being a healthy market alternative for food processing industry, it is a refined petrochemical solvent which is likely to create new growth opportunities in the market.
In the latest study, Fact.MR offers a detailed study on global hexane market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of hexane through detailed segmentation as follows:
: Ethylhexane diol is one of the commonly used ingredients in hair care products and cleansers. Rapid urbanization is escalating the demand for haircare and grooming products, which is fueling ethylhexane diol chemical production. Increasing applications in formulation of cleaning products, tonics and hair grooming aids are expected to fuel the growth.
Hydrophobic solvents prevent corrosion of metals and structures which is driving their applications across various industries such as petrochemical, paints, construction, wastewater treatment, and coatings. Ongoing expansion in the construction sector is expected to boost the demand for hydrophobic solvents, thereby driving growth in the market.
: Methyl chloroform is widely used as an industrial solvent. As it is used to remove oil and grease from metal, demand in various industries such as inks, paints & coatings and textile will increase. Moreover, methyl chloroform is used as a glueing agent, household cleaning products and aerosol sprays.
Coating Solvent Market Analysis Report By Product Type (Crude based, Bio Based), By Source (Xylene and Toluene, Acetone, Ethylene Dichloride, Alcohols, Chloroethane, Ethyl Acetate), By Region - Global Insights 2022 to 2032
: The research report presents a comprehensive assessment of the hydrophobic solvents market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data.
: As per the hydrocarbon solvents industry analysis by Fact.MR, the global market is projected to reach US$ 9.3 Bn by 2031-end, expanding 1.5X at a CAGR of around 4%. Demand for use in cleaning and degreasing applications surged year-on-year at 7% in FY2020-FY2021.
The global aprotic solvents market is likely to be dominated by the N-methyl-2-pyrrolidone segment. Because of its high solvent capabilities, N-Methyl-2-pyrrolidone (NMP) is seeing increased demand from the oil & gas sector, which will help the industry grow.
The U.S. anaerobic adhesives market is projected to expand at a CAGR of 6.7% from 2022 to 2032. Strict fuel rules in the United States are likely to enhance demand for anaerobic adhesives in the automotive industry for the manufacture of lightweight automotive parts during the forecast period.
: According to the latest research by Fact.MR, foam adhesive market is set to witness steady growth during 2021-2031. In short term, the demand is expected to increase at a steady pace and in the long run sales of this glue is expected to grow at a moderate CAGR.
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