Global Hexane Market Size By Grade, By Application, By Geographic Scope And Forecast
Hexane MarketSize And Forecast
Hexane Market was valued at USD 1.88 Billion in 2019 and is projected to reach USD 2.46 Billion by 2027, growing at a CAGR of 3.4% from 2020 to 2027.
Global Hexane Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
The adoption of hexanes among the carotenoid extraction industry is increasing. Solvents containing hexane used to extract vegetable oil from crops, various seeds, and also as cleaning agents in the textile, shoemaking, furniture, and printing industries. Additionally, an increase in demand for hexane in oil extraction and industrial cleaning & degreasing applications has helped in market growth. Thus a wide range of applications is driving the market for hexane during the forecasted period. However, the availability of safer and efficient substitutes might hamper the market growth.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The Global Hexane Market is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Hexane Market Competitive Landscape
The Global Hexane Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Exxon Mobil Corporation, Royal Dutch Shell plc., Phillips 66, Rompetrol Rafinare, Sumitomo Chemical Co. Ltd., Petroleo Brasileiro SA, Bharat Petroleum Corporation Ltd, Hindustan Petroleum Corporation Limited, China Petroleum & Chemical Corporation, and Indian Oil Corporation Ltd.
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