According to the research report titled ‘Global Hexane Market Size study with COVID Impact, by Grade (Polymerization, Extraction), By Application (Edible Oil Extraction, Industrial Solvent, Adhesive Formulation, Leather Treatment) and Regional Forecasts 2020-2027’ available with Market Study Report, global hexane market was worth around USD 2 billion in the year 2019 and is projected to register a CAGR of 3% during 2020-2027.
 

Factors such as rising consumer awareness regarding the use of refined oil as well as the health benefits associated with them is a major factor augmenting the growth of global hexane market.
 

For the record, hexane or n-hexane is a compound derived from natural gas and crude oil through several processes of thermal and catalytic cracking. It is a naturally occurring chemical as well as an anthropogenic that is primarily used in solvents to extract vegetable oil from crops like soybean.
 

Hexane offers performance boosting properties such as low water solubility, transparency, and high miscibility in ether, alcohol as well as chloroform has enabled the product gain worldwide recognition, which in turn is stimulating the overall market outlook. 
 

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However, stringent rules and regulations imposed by numerous governments, limiting the use of toxic contaminants in extraction of cooking oils is a restraining factor for the expansion of the market.
 

Based on grade, the market is segmented into extraction and polymerization. With regards to the application spectrum, the market comprises of leather treatment, adhesive formulation, industrial solvent, and edible oil extraction.
 

From a regional frame of reference, Asia-Pacific hexane market is estimated to record significant growth over 2020-2027. The growth is credited to surging demand of the product from extraction applications across the region.

Alternatively, Europe is also expected to emerge as a lucrative opportunity for the market remuneration in the subsequent years. Rapid growth in rubber & adhesive verticals along with rising demand for leather and footwear, predominantly in Turkey and Italy are fostering the growth of the regional market.
 

The companies that define the competitive landscape of worldwide hexane market are Del Amo Chemical Company Inc., Haviland Enterprises, Inc., Clear Chem Solutions Inc., Capitol Scientific Inc., Reagents LLC, Dawn Scientific Inc., Hydrite Chemical Co., Green Chem Industries, LLC, Hukill Chemical Corporation, and Scientific Solutions Inc. among others.