Hexane, a colorless liquid hydrocarbon with the chemical formula C6H14, is a highly flammable solvent commonly derived from crude oil refining. It is composed of six carbon atoms arranged in a straight chain, making it an ideal solvent for various industrial applications. The hexane market has witnessed steady growth in recent years, driven by its versatility, low cost, and wide-ranging applications in sectors such as pharmaceuticals, food processing, cosmetics, and automotive.?
The Hexane Market is anticipated to achieve a valuation of USD 3.1 billion by 2027, rising from USD 2.4 billion in 2022, at a CAGR of 4.8% throughout the forecast period.
Hexane Market- Recent Developments
- In December 2021, Sumitomo Chemical decided to build new research facilities in Chiba and Osaka, and reorganize research laboratories in Osaka, Tsukuba, and Chiba, to accelerate the creation of next generation businesses.
- In February 2021, GFS Chemicals, Inc. announced its new partnership with Hanna Instruments USA, Inc. With this approach, GFS expanded its customer base by product offerings, that include Karl Fischer titration solutions and other specialty solvents and reagents for applications like peroxide value, acid number, and more.
- In January 2021, Indian Oil Corporation Ltd announced the plans for more than 400 USD thousand expansion project at its Chennai refinery. The refinery produced highest quantity of food grade hexane in 2020-21.
- Industrial Solvent: Hexane serves as a solvent in numerous industrial processes, including extraction, degreasing, cleaning, and as a carrier solvent in adhesives, paints, and coatings. Its ability to dissolve a wide range of organic compounds makes it indispensable in various manufacturing operations.
- Food Processing: In the food industry, hexane is used for oil extraction from seeds and vegetables, particularly soybeans and sunflower seeds. Hexane extraction is a cost-effective method for obtaining edible oils, fats, and food-grade ingredients used in cooking oils, margarine, and processed foods.
- Pharmaceuticals: Hexane is utilized as a solvent in pharmaceutical manufacturing for extracting natural products, isolating active pharmaceutical ingredients (APIs), and formulating drug formulations. It enables the production of pharmaceuticals, herbal extracts, and medicinal products used in healthcare.
- Automotive and Rubber Industries: Hexane is employed in the automotive and rubber industries for degreasing and cleaning components such as engines, parts, and rubber molds. It removes grease, oil, and contaminants, ensuring the quality and performance of automotive and rubber products.
- Chemical Synthesis: Hexane serves as a starting material in the synthesis of various organic compounds, including solvents, lubricants, plasticizers, and specialty chemicals. Its use in chemical reactions and processes contributes to the production of diverse chemical products.
- Health and Safety Concerns: Hexane exposure poses health risks such as irritation, respiratory issues, and neurological effects. Occupational safety measures and regulations are essential to mitigate the risks associated with handling, storage, and disposal of hexane.
- Environmental Impact: Hexane emissions contribute to air pollution and environmental contamination, particularly in industrial settings. Efforts to minimize emissions and adopt eco-friendly alternatives are necessary to reduce the environmental footprint of hexane use.
- Regulatory Compliance: Regulatory standards and guidelines govern the use of hexane in various industries, including occupational safety, environmental protection, and product quality. Compliance with regulations such as OSHA, EPA, and FDA standards is crucial for ensuring workplace safety and environmental stewardship.
- Oil Extraction: Hexane extraction is a widely used method for obtaining vegetable oils from seeds such as soybeans, sunflowers, canola, and cottonseed. It enables efficient extraction of oil with high yields and minimal processing steps.
- Industrial Cleaning: Hexane is employed as a solvent for degreasing and cleaning metal surfaces, machinery, and equipment in manufacturing facilities, automotive workshops, and industrial plants. It removes oil, grease, and contaminants from surfaces, ensuring cleanliness and efficiency.
- Paints and Coatings: Hexane is used as a solvent in the formulation of paints, coatings, and varnishes for applications in construction, automotive, aerospace, and consumer goods. It provides excellent solvency and compatibility with resins, pigments, and additives.
- Adhesives and Sealants: Hexane is a key component in adhesive formulations for bonding materials such as plastics, rubber, metals, and composites. It improves adhesive performance by enhancing wetting, bonding strength, and drying characteristics.
- Pharmaceutical Extraction: Hexane extraction is utilized in pharmaceutical manufacturing for isolating natural products, extracting active ingredients from medicinal plants, and purifying APIs. It enables the production of pharmaceuticals, herbal extracts, and botanical medicines used in healthcare.
- North America: The North American hexane market is driven by the presence of major oil refineries, chemical manufacturers, and food processing industries. The United States is a significant producer and consumer of hexane, with applications in agriculture, energy, and manufacturing.
- Europe: Europe has stringent regulations governing the use of hexane in food processing, pharmaceuticals, and industrial applications. The region emphasizes environmental sustainability and occupational safety, driving the adoption of eco-friendly solvents and alternative extraction methods.
- Asia Pacific: Asia Pacific dominates the global hexane market in terms of production and consumption, with countries such as China, India, and Indonesia leading the demand. Rapid industrialization, urbanization, and agricultural activities fuel the need for hexane in food processing, manufacturing, and construction.
- Latin America: Latin America is a significant producer of vegetable oils and agricultural commodities, driving demand for hexane in oilseed processing. Brazil, Argentina, and Mexico are key markets for hexane extraction in the region.
This research report categorizes the Hexane market based on grade, application, and region.
Based on grade, the hexane market has been segmented as follows:
- Oil Extraction/ Food Grade
- Industrial Grade
- Pharmaceutical Grade
Based on application, the hexane market has been segmented as follows:
- Oil Extraction
- Industrial Cleaning and Degreasing
- Pharmaceutical
- Polymerization
- Others
Based on region, the hexane market has been segmented as follows:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- South America
Some of the leading players in this market include China Petroleum Pipeline Engineering Corporation (CPPE-AD) & Chemical Corporation (China), Shell plc (UK), ExxonMobil Corporation (US), Rompetrol Rafinare SA (Romania), Junyuan Petroleum Group (China), TotalEnergies (France), Phillips 66 Company (US), Indian Oil Corp Limited (India), PETROBRAS PETROLEO BRASILEIRO SA S.A. (Brazil), Bharat Petroleum Corporation Limited (India), Hindustan Petroleum Corporation Limited (India), Honeywell Inc. (US), Sumitomo Chemical (Japan), among others.
Shell plc is one of the major players in the global hexane market. Shell plc, commonly known as Shell, is a vertically integrated company that is active in upstream, integrated gas, chemicals, and oil products. The company offers various grades of hexane as a part of its chemicals business segment. Along with hexane, the company provides high purity dearomatized hydrocarbon solvents, for instance, heptane. Shell is also involved in sulphur solutions and other energy-related businesses. Its manufacturing facilities are in Durban, Canada, Texas, China, Malaysia, Singapore, Germany, Netherlands, the UK, and Qatar. ?The company produces and markets the Shell Chemicals special boiling point (SBP) solvents for degreasing, varnishing, glues, and clothing across about 100 countries in regions, such as Europe, Americas, Middle East & Africa, and Asia Pacific.
Another important player in the global hexane market is China Petroleum & Chemical Corporation. China Petroleum & Chemical Corporation, commonly known as Sinopec Corp., is one of the leading energy and chemical firms in the world. It is a subsidiary of China Petrochemical Corporation. Principal businesses of the company include exploration, production, transportation, sales of petroleum, and natural gas. The company is also engaged in the production and sale of refinery products, petrochemicals, coal chemical products, synthetic fibre, and other chemical products. The company manufactures and markets hexane through its subsidiary, Sinopec Sichuan Hydrocarbon Solvents Co., Ltd. Along with hexane, this subsidiary offers heptane, octane, white spirit, isoalkanes, hydrocarbon cleaning solvents, and dearomatized hydrocarbon solvents, among other products. The subsidiary is in Sichuan, China. China Petrochemical Corporation has a strong distribution channel and markets its products to countries including Mainland China, and Singapore.
