Global Hexane Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Grade;

Oil Extraction/Food, Pharmaceutical, and Industrial.

By Application;

Oil Extraction, Industrial Cleaning & Degreasing, Polymerization, Pharmaceutical, and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa, and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn113176152 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Hexane Market (USD Million), 2021 - 2031

In the year 2024, the Global Hexane Market was valued at USD 1,933.35 million. The size of this market is expected to increase to USD 2,443.17 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 3.4%.

The Global Hexane market encompasses a critical sector within the chemical industry, driven by the versatile applications of hexane as a solvent and a feedstock. Hexane, a hydrocarbon with six carbon atoms, is widely used in various industrial processes, including the extraction of edible oils, the formulation of adhesives, coatings, and pharmaceuticals, and as a solvent in cleaning and degreasing applications. Its ability to dissolve a broad range of substances while being relatively low in cost makes it a valuable compound for manufacturers across multiple industries. As industries continue to expand and seek efficient and cost-effective solutions, the demand for hexane remains robust, underpinning its significance in the global chemical market.

The market dynamics are influenced by several factors, including fluctuations in crude oil prices, regulatory changes, and advancements in chemical processing technologies. The production of hexane is closely tied to the petrochemical industry, where it is derived from the refining of crude oil. Consequently, variations in oil prices can impact the cost and availability of hexane. Additionally, growing environmental regulations aimed at reducing volatile organic compound (VOC) emissions are shaping the market, as companies invest in cleaner and more sustainable production methods. Despite these challenges, the hexane market continues to grow, driven by its essential role in various industrial applications and ongoing innovations in its production and use.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Grade
    2. Market Snapshot, By Application
    3. Market Snapshot, By Region
  4. Global Hexane Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. High Demand in Edible Oil Extraction

        2. Growth in Industrial Solvent Applications

        3. Expansion in Chemical Manufacturing

      2. Restraints
        1. Fluctuating Crude Oil Prices

        2. Environmental and Regulatory Challenges

        3. Health and Safety Concerns

      3. Opportunities
        1. Advancements in Extraction Technologies

        2. Growth in Emerging Markets

        3. Development of Eco-Friendly Hexane Production

    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Hexane Market, By Grade, 2021 - 2031 (USD Million)
      1. Oil Extraction/Food
      2. Pharmaceutical
      3. Industrial
    2. Global Hexane Market, By Application, 2021 - 2031 (USD Million)
      1. Oil Extraction
      2. Industrial Cleaning & Degreasing
      3. Polymerization
      4. Pharmaceutical
    3. Global Hexane Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Royal Dutch Shell plc
      2. Exxon Mobil Corporation
      3. Phillips 66
      4. Sumitomo Chemical Co. Ltd.
      5. Rompetrol Rafinare
      6. Petroleo Brasileiro SA
      7. Bharat Petroleum Corporation Ltd
      8. Hindustan Petroleum Corporation Limited
      9. China Petroleum & Chemical Corporation (SINOPEC)
      10. Indian Oil Corporation Ltd
  7. Analyst Views
  8. Future Outlook of the Market