Hexane Market Poised for Steady Growth in the Future

The growth of oil extraction industry is expected to remain a key factor driving the global hexane market over the forecast period. The Global Hexane Market is expected to reach USD 2.36 billion by 2024, according to a new report by Grand View Research, Inc.

Growing use of hexane across key end-use industries such as rubber and petrochemical is anticipated to boost the global market over the next eight years. It is extensively used as a special purpose solvent and as an oil extractant in industries such as printing, textiles, and leather.

Extraction emerged as the dominant grade owing to its wider applicability and demand from growing edible oil industry. The grade accounted for over 55% of the overall consumption in 2015. Edible oil demand has been witnessing significant growth for the past few years owing to increasing consumption of fried food.

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Factors such as rising purchasing power of consumers along with evolving dietary habits have led to a shift in consumer preference towards consuming healthy edible oils. This is expected to drive the growth of the global edible oils market during the forecast period making edible oil extractant the dominant hexane application.

Top Players of Hexane Market:

Key players operational in the global hexane industry include Mil-Spec Industries Corp., Environmental Equipment & Supply, GFS Chemicals, Inc. and Continental Chemical, City Chemical LLC.

Market Segmentation of Hexane Market:

The Global Hexane Market segmented on the basis Grade, Application and Region.

By Grade:

    Polymerization
    Extraction

By Application:

    Edible Oil Extractant
    Industrial Solvent
    Adhesive Formulation
    Leather Treatment

By Region:

    North America
    Europe
    Asia Pacific
    Central & South America
    Middle East & Africa

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