Please Wait.....
Report
Hexane Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 150 Pages I Mordor Intelligence
The global hexane market is projected to register a CAGR of over 4% during the forecast period 2022-2027.
The COVID-19 pandemic negatively impacted the market in 2020. However, sales for edible oil have recovered fast and are estimated to be reaching pre-COVID levels.
Over the short term, the increasing demand for edible oil extraction is expected to drive the market's growth during the forecast period.
The availability of safer alternatives for oil extraction, such as cyclohexane, is expected to hinder the market growth in the forecast period 2022-2027.
Asia-Pacific is expected to dominate the market and witness the highest CAGR during the forecast period.
Hexane Market Trends
Edible Oil Extraction to Dominate the Market
Hexane is increasingly used as a solvent to extract edible oils from seed and vegetable crops such as peanuts, soybeans, corn, etc.
Hexane has a greater ability to extract oil as compared to other solvents, like petroleum ether and ethyl acetate. It easily mixes with vegetable oil and washes it out without disturbing fiber, protein, sugar, and undesired gums.
Growth in the edible oil segment can be attributed to the rising awareness among consumers about the use of refined oil and its impact on health.
According to the USDA Outlook 2021-22, global production of vegetable oils will amount to 214.8 million ton. This would be an 8.21 million ton rise compared to 2020-21.
Additionally, consumers are inclined to pay higher prices for healthy food products due to the increasing food-based health challenges, such as high cholesterol, obesity, etc.
The growing popularity of edible oils with additional health benefits in many countries is shaping the purchase decisions of edible oils, which are high in omega 3, vitamins, oryzanol, natural antioxidants, and others.
Thus, this is likely to result in the edible oil extraction application dominating the market during the forecast period 2022-2027.
Asia-Pacific to Dominate the Market
The Asia-Pacific region is expected to dominate the hexane market during the forecast period. Hexane is used as a solvent for glues, varnishes, and inks. Moreover, it is used to extract oil and grease contaminants from soil and water for analysis in laboratories.
The China National Grain and Oils Information Centre (CNGOIC) estimated that vegetable oil used for food would rise by 2.3% in 2021-2022 from the previous year to 37.8 million ton, supported by a strong foodservice industry and online food sales.
The rapid growth of the food and beverage sector to meet demand from the growing population, and the demand for industrial-grade hexane from countries such as India, China, and Indonesia, are the major factors boosting the development of the hexane market in the Asia-Pacific region.
The food and beverages sector in China was estimated to reach USD 230.96 billion by 2024, with a CAGR of about 11%, which is likely to create demand for food-grade hexane over the coming years.
India is the world's second-largest exporter of textiles and apparel, with a massive raw material and manufacturing base. Despite its size, the Indian textile industry has struggled globally. In recent years, India's share in global textile exports has declined, while countries like Bangladesh and Vietnam have expanded their market shares.
However, in the overall scenario, textile production in the country looks very positive, powered by burgeoning domestic consumption.
Therefore, the factors mentioned above are expected to significantly impact the market over the coming years.
Hexane Market Competitor Analysis
The hexane market is partially consolidated in nature, with a few major players dominating a significant portion of the market. Some of the major companies (in no particular order) are Exxon Mobil Corporation, Bharat Petroleum Corporation Limited, Merck KGaA, Royal Dutch Shell PLC, and Sumitomo Chemical Co. Ltd, among others.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand from Petrochemical Industries
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Safer Alternatives for Oil Extraction
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 n-Hexane
5.1.2 Isohexane
5.1.3 Neohexane
5.2 By Grade
5.2.1 Polymer Grade
5.2.2 Food Grade
5.2.3 Other Grades
5.3 By Application
5.3.1 Industrial Solvents
5.3.2 Edible Oil Extractant
5.3.3 Cleansing & Degreasing
5.3.4 Other Applications
5.4 By Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 US
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 UK
5.4.3.3 France
5.4.3.4 Italy
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Bharat Petroleum Corporation Limited
6.4.2 China Petroleum & Chemical Corporation
6.4.3 Exxon Mobil Corporation
6.4.4 GFS Chemicals Inc.
6.4.5 HPCL
6.4.6 Indian Oil Corporation Ltd
6.4.7 Jun Yuan Petroleum Group
6.4.8 Liaoning Yufeng Chemical Co. Ltd
6.4.9 Merck KGaA
6.4.10 Phillips 66 Company
6.4.11 Rompetrol-Rafinare
6.4.12 Royal Dutch Shell PLC
6.4.13 Shenyang Huifeng Petrochemical Co. Ltd
6.4.14 Sumitomo Chemical Co. Ltd
6.4.15 Thai Oil Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security