Hexane Market Size, Share, Growth Analysis, By Grade (Polymerization, Extraction), By Application (Edible Oil Treatment, Industrial Solvent), By Region - Industry Forecast 2025-2032
Rompetrol-Rafinare(Romania)(part of KMG International)
Sumitomo Chemical Co., Ltd.(Japan)
Honeywell International Inc.(USA)
GFS Chemicals Inc.(USA)
Junyuan Petroleum Group(China)
Liaoning Yufeng Chemical Co. Ltd.(China)
Thai Oil Public Company Limited(Thailand)
Chevron Corporation(USA)
China National Petroleum Corporation(CNPC)(China)
Eni S.p.A.(Italy)
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Global Hexane Market size was valued at USD 2.3 billion in 2023 and is poised to grow from USD 2.4 billion in 2024 to USD 3.39 billion by 2032, growing at a CAGR of 4.4% during the forecast period (2025-2032).
The global pharmaceutical market has surged from USD 100 billion to USD 1.2 trillion, fueled by increasing consumer demand and industry growth. However, environmental concerns and strict regulations against n-Hexane, due to its health impacts and VOC emissions, present challenges to market expansion. Fluctuating crude oil prices and economic downturns may further hinder the profitability of n-Hexane producers. On the flip side, the food industry is driving demand for n-Hexane as a key agent for extracting edible oils, particularly from various seeds. This trend, alongside rising health consciousness among consumers regarding refined oils, is set to elevate n-Hexane's usage. With significant investments, especially in regions like India and the U.S., the edible oil sector's growth will boost n-Hexane demand in the forecasted period.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Hexane market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Hexane Market Segmental Analysis
Global Hexane Market is segmented by Grade, Application and region. Based on Grade, the market is segmented into Polymerization, Extraction and Others. Based on Application, the market is segmented into Edible Oil Treatment, Industrial Solvent, Adhesives Formulation, Leather Treatment and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Hexane Market
The global hexane market is expected to experience significant growth, driven primarily by the rising demand from the food sector. N-hexane is widely utilized as a solvent in the extraction of edible oils due to its ability to yield high volumes from various seeds. This increasing need for oil extraction in the food industry will likely propel market demand for n-hexane. Additionally, the pharmaceutical sector's growing requirement for n-hexane, fueled by a global pharmaceuticals market that reached an impressive US$1.2 trillion in 2018, will further stimulate market expansion. Overall, these factors indicate a robust outlook for the hexane market.
Restraints in the Global Hexane Market
The global hexane market faces several constraints that could impede its growth. Increasing consumer preference for eco-friendly products, coupled with stringent regulations against n-Hexane due to its toxic effects on human health, is likely to limit market development. Additionally, rising concerns about volatile organic compounds (VOCs) associated with n-Hexane-based products are expected to lead to further restrictions, thereby stalling market expansion. Producers of n-Hexane may also encounter diminishing profitability due to fluctuating crude oil prices and a sluggish economy. Furthermore, geopolitical instability in Middle Eastern countries and unpredictable exchange rates pose additional challenges to the market's growth trajectory.
Market Trends of the Global Hexane Market
The Global Hexane market is currently experiencing significant growth driven by heightened demand for n-Hexane polymerization grade across diverse end-use sectors such as soaps and detergents, wastewater treatment chemicals, and tea leaf processing. As industries continue to innovate and expand, particularly in the chemical sector, the need for high-quality hexane in pre-metal treatment applications and other processes is also increasing. Furthermore, rising investments and research initiatives in the chemical industry are poised to bolster the market's expansion throughout the forecast period. This trend underscores hexane's essential role in various industrial applications, ensuring robust market dynamics ahead.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Drivers & Opportunities
Restraints & Challenges
Porters Analysis
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2024
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Global Hexane Market Size by Grade & CAGR (2025-2032)
Market Overview
Polymerization
Extraction
Others
Global Hexane Market Size by Application & CAGR (2025-2032)
Market Overview
Edible Oil Treatment
Industrial Solvent
Adhesives Formulation
Leather Treatment
Others
Global Hexane Market Size & CAGR (2025-2032)
North America (Grade, Application)
US
Canada
Europe (Grade, Application)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Grade, Application)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Grade, Application)
Brazil
Rest of Latin America
Middle East & Africa (Grade, Application)
GCC Countries
South Africa
Rest of Middle East & Africa
Competitive Intelligence
Top 5 Player Comparison
Market Positioning of Key Players, 2024
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2024
Company Profiles of All Key Players
Company Details
Product Portfolio Analysis
Company's Segmental Share Analysis
Revenue Y-O-Y Comparison (2022-2024)
Key Company Profiles
ExxonMobil Corporation (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Shell plc (UK)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
China Petroleum & Chemical Corporation (Sinopec) (China)