Global Hexane Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
30 Jul, 2021
The hexane market consists of sales of hexane by entities (organizations, sole traders, and partnerships) that are engaged in the production of hexane. Hexane is a colorless, flammable liquid that is used as a solvent and is created from the distillation of petroleum. It is commonly used as a non-polar solvent that is very volatile, inexpensive, generally safe, and easily evaporated.
Global Hexane Market Size And Drivers:
The global hexane market is expected to grow from $1.68 billion in 2020 to $1.73 billion in 2021 at a compound annual growth rate (CAGR) of 2.7%. The growth in the hexane market is mainly due to the increasing production of edible oil, prevailing use in rubber and petrochemical industry, rising demand for hexanes for various consumer products including glues, gasoline, rising purchasing power of consumers and favorable government initiatives. The market is expected to reach $2.18 billion in 2025 at a CAGR of 6%. The increasing production of edible oil is expected to drive the growth of the hexane market in the coming years.
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Trends In The Global Hexane Market
Increasing investments are shaping the hexane market in recent times. Major companies operating in the hexane sector are focused on investments to improve energy efficiency and minimize the environmental effect.
Global Hexane Market Segments:
The global hexane market is further segmented based on type, grade, application and geography.
By Type: N-Hexane, Isohexane, Neohexane
By Grade: Polymer Grade, Food Grade, Other Grades
By Application: Industrial Solvents, Edible Oil Extractant, Adhesives and Sealants, Paints and Coatings, Others
By Geography: The global hexane market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the hexane market in 2020.
Read More On The Report For The Global Hexane Market At:https://www.thebusinessresearchcompany.com/report/hexane-global-market-report
Hexane Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides hexane market overviews, analyzes and forecasts market size and growth for the global hexane market, hexane market share, hexane market players, hexane market segments and geographies, hexane market’s leading competitors’ revenues, profiles and market shares. The hexane market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.