Market Size of Hexane Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.24 Billion |
| Market Size (2029) | USD 2.80 Billion |
| CAGR (2024 - 2029) | 4.57 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Hexane Market Analysis
The Hexane Market size is estimated at USD 2.24 billion in 2024, and is expected to reach USD 2.80 billion by 2029, growing at a CAGR of 4.57% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the market in 2020, primarily due to reduced industrial activities and disruptions in the supply chain. However, since 2021, rising sales of edible oils have propelled the demand for hexane after the pandemic.
• Over the short term, the increasing demand for edible oil extraction and growing demand from petrochemical industries is expected to drive the market's growth during the forecast period.
• The availability of safer alternatives for oil extraction, such as cyclohexane, is expected to spur market growth during the forecast period.
• The emerging application of hexane in the paint and coatings industry as a solvent is expected to offer new growth opportunities during the coming years.
• During the forecast period, Asia-Pacific is expected to have the largest market share and the highest CAGR. The surging consumption of edible oils, especially in China, India, and Japan, is projected to drive regional market growth.
