Global Hexane Market Size By Grade (Industrial Grade, Food Grade), By Application (Solvent, Chemical Intermediate, Fuel), By Industry (Food, Pharmaceuticals, Cosmetics, Adhesives, Oil Extraction, Coatings), By Geographic Scope and Forecast

Hexane Market Size And Forecast

Hexane Market size was valued at USD 2 Billion in 2023 and is projected to reach USD 2.61 Billion by 2031, growing at a CAGR of 3.40% from 2024 to 2031.

• Hexane is a colorless, volatile liquid hydrocarbon compound made up of six carbon atoms and 14 hydrogen atoms per molecule, with the chemical formula C6H14. It is classed as an alkane and is extracted from crude oil during the refining process. Hexane is widely utilized as a solvent in a variety of industrial applications, including extraction, degreasing, and as a component of glues and adhesives. It is valued for its ability to dissolve oils, fats, and other non-polar substances effectively.
• However, hexane is highly flammable and poses health hazards after extended exposure, such as respiratory system irritation and neurological damage. Proper ventilation and safety precautions are required when working with hexane.
• Hexane, a highly flammable and volatile organic molecule, has a promising future across a variety of sectors. Despite its hazards, hexane is used as a solvent in extraction procedures, particularly in the food and pharmaceutical industries, where it helps extract oils, fats, and bioactive substances from plant sources. In addition, hexane is used as a cleaning agent in the printing and textile industries, as well as a calibration gas in analytical chemistry. Looking ahead, the future of hexane lies in the development of safer and more sustainable extraction processes, as well as the exploration of its potential as a feedstock for biofuel production or a precursor for the synthesis of specialized chemicals.

Global Hexane Market Dynamics

The key market dynamics that are shaping the global Hexane Market include

Key Market Drivers

• Industrial ApplicationsHexane is commonly used as a solvent in industrial operations such as extraction, degreasing, and cleaning. Hexane is widely used in industries such as oilseed processing (the extraction of vegetable oils from seeds such as soybeans and sunflowers), pharmaceuticals (the extraction of medicinal compounds), and food processing (the extraction of natural flavors and perfumes).
• Growth in Oilseed ProcessingAs the world’s population grows, so does the demand for vegetable oils for cooking, biodiesel production, and industrial applications. Hexane is an extensively used solvent for extracting vegetable oils from oilseeds such as soybeans, canola, and palm kernels. As a result, the expansion of the oilseed processing industry directly drives the demand for hexane.
• Expanding Chemical IndustryHexane is also used as a feedstock in the manufacture of synthetic rubber, adhesives, coatings, and pharmaceuticals. As the chemical industry grows, driven by factors such as urbanization, industrialization, and technical improvements, the need for hexane as a raw material rises.
• Energy Sector TrendsHexane is a byproduct of petroleum refining that is produced from crude oil. Changes in crude oil prices, refinery operations, and petroleum consumption can all have an impact on hexane production and availability. Crude oil price fluctuations and supply disruptions could have an impact on hexane prices and market dynamics.

Key Challenges

• Environmental ConcernsHexane, generated from petroleum refining, is classed as a volatile organic chemical. Its usage and discharge into the environment can exacerbate air pollution and endanger human health. Increasing regulatory monitoring of VOC emissions and environmental impact may hinder the expansion of the hexane business.​
• Health and safety regulationsHexane is a highly combustible and possibly dangerous chemical. Occupational exposure to hexane vapor or liquid can result in respiratory discomfort, neurological damage, and skin irritation. Stringent health and safety standards, particularly in manufacturing and industrial environments, may have an impact on demand for hexane-based products.
• Substitution by Alternative SolventsConcerns about the environmental and health effects of hexane have prompted the development of alternative solvents in a variety of applications, including food processing, pharmaceuticals, and industrial manufacture. Solvent alternatives with lower toxicity, lower environmental impact, and better regulatory characteristics may represent a competitive threat to hexane in some industries.
• Volatility in Crude Oil PricesHexane is predominantly derived from crude oil refining, and its pricing is directly related to crude oil prices. Crude oil price fluctuations might have an impact on hexane production costs and market pricing. Uncertainty in crude oil markets might present issues for both hexane producers and users.

 Key Trends

• Growing Demand in the Food IndustryHexane is commonly employed as a solvent in the extraction of edible oils from seeds and vegetables such as soybeans, sunflower seeds, and canola. The rising use of vegetable oils, driven by changing dietary tastes and a growing population, adds to the demand for hexane in the food sector.
• Expansion of the Pharmaceutical SectorHexane is used as a solvent in the pharmaceutical sector to extract active pharmaceutical ingredients (APIs) and as a cleaning agent in equipment sterilizing operations. The pharmaceutical industry’s growth, together with expanding global demand for pharmaceutical products, boosts demand for hexane.
• Focus on Sustainable Extraction techniquesAs environmental concerns develop and there is a greater emphasis on sustainability, eco-friendly extraction techniques are being adopted in industries such as food, medicines, and cosmetics. Alternative solvents or extraction procedures that decrease or eliminate the use of hexane are being investigated, potentially leading to the development of greener extraction technologies.
• Market Consolidation and Supply Chain OptimizationThe Hexane Market is distinguished by the presence of major businesses active in hexane manufacturing, distribution, and supply around the globe. Market consolidation through mergers, acquisitions, and strategic partnerships among firms seeks to increase market position, expand product ranges, and improve supply chain efficiencies.

Global Hexane Market, Regional Analysis

Here is a more detailed regional analysis of the global Hexane Market

North America

• Focus on Sustainable Extraction techniquesAs environmental concerns develop and there is a greater emphasis on sustainability, eco-friendly extraction techniques are being adopted in industries such as food, medicines, and cosmetics. Alternative solvents or extraction procedures that decrease or eliminate the use of hexane are being investigated, potentially leading to the development of greener extraction technologies. Because of its versatility as a solvent and extraction agent, North America’s well-developed industrial infrastructure, particularly in areas such as food processing, pharmaceuticals, chemicals, and oil extraction, results in large hexane consumption. The food processing sector in North America makes substantial use of hexane to extract oil from soybeans, canola, sunflower seeds, and other oilseed crops. The region’s extensive output of soybeans and other oilseed crops ensures a high need for hexane as a solvent.
• The pharmaceutical industry in North America uses hexane for the extraction of active pharmaceutical ingredients (APIs) as well as cleaning operations. The presence of major pharmaceutical businesses and research universities in the region boosts demand for hexane. North America leads in technological developments and innovation in the chemical business, resulting in ongoing research and development activities that lead to improved extraction techniques, novel uses, and environmentally friendly alternatives to existing solvents. Heavy investment in research and innovation is intended to improve process efficiency, reduce environmental impact, and meet regulatory requirements. Advanced extraction processes and solvent recovery systems are used to maximize hexane consumption and reduce emissions.
• The region benefits from a plentiful supply of raw materials, particularly petroleum and natural gas, which serve as feedstocks for hexane manufacturing. Naphtha, a petroleum-derived feedstock, is often used to produce hexane using catalytic reforming or fractional distillation techniques. Access to abundant sources of crude oil and natural gas ensures a steady and cost-effective supply of feedstocks for hexane synthesis, contributing to its competitiveness in the worldwide market.
• Furthermore, despite its stringency, North America’s regulatory structure provides clarity and stability for chemical sector enterprises. The Environmental Protection Agency (EPA) and the Food and Drug Administration (FDA) enforce regulations governing the safe use, handling, and disposal of hexane and other chemicals. North American enterprises prioritize compliance with environmental legislation and safety standards to ensure responsible and sustainable practices in hexane manufacturing, handling, and distribution.
• Additionally, North America’s leading position in the Hexane Market is supported by its status as a significant exporter of hexane and associated goods. The region exports hexane to a variety of worldwide markets, including Asia-Pacific, Latin America, and Europe, which contributes to its market dominance. Strong trade links, established distribution networks, and strategic alliances with worldwide customers and suppliers all help North America’s impact and competitiveness in the hexane industry.

Asia Pacific

• Significant industrial growth and expansion are taking place in a variety of areas throughout Asia-Pacific, including food processing, pharmaceuticals, chemicals, and manufacturing. In these industries, hexane is widely used as a solvent for extraction, cleaning, and degreasing. The region’s growing population, rising disposable incomes, and urbanization are driving up demand for processed foods, pharmaceuticals, consumer goods, and industrial items. As a result, the amount of hexane used in manufacturing operations has increased.
• The Asia-Pacific area is one of the world’s top users of edible oils. Hexane is commonly used in the extraction of edible oils from oilseeds such soybeans, sunflower seeds, and palm kernels. An increasing preference for healthier oils and the growing demand for processed foods are driving the need for efficient extraction methods using hexane. The pharmaceutical sector in Asia-Pacific is expanding rapidly due to factors such as rising healthcare costs, aging populations, and increased access to healthcare services. Hexane is used as a solvent in pharmaceutical manufacturing processes such as active pharmaceutical ingredient (API) extraction and drug product formulation, which drives demand in the region.
• Furthermore, Industrialization and infrastructure expansion in China, India, and Southeast Asia are driving demand for a variety of industrial chemicals, including hexane. It is used in sectors such as adhesives, rubber manufacture, paints and coatings, and electronics as a solvent, cleaning agent, or process aid. The rise of these sectors drives the usage of hexane in the region. Asia-Pacific is a major hub for petrochemical manufacturing and refining, with large investments in refining facilities and downstream petrochemical complexes. Hexane, as a byproduct of petroleum refining processes, particularly in the manufacturing of gasoline and other fuel fractions, benefits from the expansion of the petrochemical and refining industries, which increases its availability in the region.​
• Additionally, Trade liberalization policies, regional trade agreements, and globalization have facilitated the cross-border movement of products and chemicals in the Asia-Pacific area. This has allowed market participants to reach a larger customer base and increase their presence. Increased commercial activity, combined with rising industrial demand in the region, is encouraging multinational companies and trading enterprises to import and distribute hexane, propelling market growth even further​.
• In response to increased environmental concerns and regulatory pressure, industries are shifting to the use of environmentally friendly solvents and extraction technologies. Although hexane is still commonly utilized due to its efficiency and cost-effectiveness, there is growing interest in alternate solvents and extraction procedures with low environmental impact. This tendency may have an impact on the adoption of more environmentally friendly techniques in the Asia-Pacific hexane industry.

Global Hexane MarketSegmentation Analysis

The Global Hexane Market is segmented on the basis of By Grade, By Application, By Industry and By Geography.

Hexane Market, By Grade

• Industrial Grade
• Food Grade

Based on Grade, the Market is segmented into Industrial Grade, Food Grade. The industrial grade sector currently dominates the global Hexane Market due to its wide range of industrial applications, including solvent extraction, cleaning, degreasing, and as a processing aid in industries such as chemicals, adhesives, rubber manufacture, and electronics. However, the food grade category is quickly growing, driven by increasing demand for processed foods, rising consumer awareness about food safety and quality, and tight regulatory standards that control food processing.

Hexane Market, By Application

• Solvent
• Chemical Intermediate
• Fuel

Based on the application, the Market is segmented into Solvent, Chemical Intermediate, Fuel. Solvent applications account for most of the global Hexane Market. Hexane is widely used as a solvent in a variety of industries, including food processing, medicines, chemicals, and manufacturing, because of its ability to dissolve oils, fats, waxes, and other organic molecules effectively. In contrast, the chemical intermediate application is a rapidly increasing segment. Hexane is an important chemical intermediary in the manufacture of several substances, including synthetic rubbers, resins, polymers, and medicines.

Hexane Market, By Industry

• Food, Pharmaceuticals
• Cosmetics
• Adhesives
• Oil Extraction
• Coatings

Based on the industry, the Market is segmented into Food, Pharmaceuticals, Cosmetics, Adhesives, Oil Extraction, Coatings. The oil extraction segment dominates the worldwide Hexane Market because it is widely used to extract edible oils from oilseeds such as soybeans, sunflower seeds, and palm kernels. Hexane demand in this market is being driven by rising global consumption of vegetable oils, particularly in nations with large populations and rising disposable incomes. On the other hand, the pharmaceuticals market is quickly growing, driven by the expansion of the pharmaceutical industry, rising healthcare expenditure, and the increasing prevalence of chronic diseases internationally.

Hexane Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

Based on Geography, the global Hexane Markets are classified into North America, Europe, Asia Pacific, and Rest of World. North America dominates the Hexane Market due to its established industrial infrastructure, advanced technological capabilities, and large presence of leading market participants. The region has a sophisticated food processing industry, significant pharmaceutical manufacturing facilities, and a well-developed petrochemical sector, which all contribute to constant demand for hexane across a variety of applications. In contrast, Asia-Pacific is experiencing strong growth in the Hexane Market, backed by industrial expansion, rising demand for edible oils, and a booming pharmaceutical sector.

Key Players

The “Global Hexane Market” study report will provide a valuable insight with an emphasis on the 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.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In January 2022, Sun Chemical has acquired SAPICI, a specialist in high-performance polyurethanes for coatings, flexible packaging, and industrial adhesives. The US-headquartered ink and consumables giant said its deal for the Italian company, reinforces its integrated supply strategy in the packaging market by adding capabilities to develop and produce unique polymers for the entire portfolio of inks, coatings, and lamination adhesives. The combined resources and technologies of the businesses are expected to provide “a comprehensive and unique polymer portfolio for areas such as industrial coatings, elastomers, industrial adhesives, and sealants”.
• In January 2022, Shell Oil Company, a subsidiary of Royal Dutch Shell plc, has completed the sale of its interest in Deer Park Refining Limited Partnership, a 50-50 joint venture between Shell Oil Company and P.M.I. Norte America, S.A. De C.V. (a subsidiary of Petroleos Mexicanas, or Pemex) for $596 million, a combination of cash and debt. The agreement covers the sale of Shell’s 50.005% interest in the partnership, and therefore transfers full ownership of the refinery to Pemex. Shell Chemical L.P. will continue to operate its 100% owned Deer Park Chemicals facility located adjacent to the site.
• In February 2023, although ‘many thought approving a new solvent would be impossible’ the European Parliament and council have added plant-based solvent methyloxolane to the list of permitted processing aids for the manufacture of food ingredients. Hexane is a petroleum-based solvent widely used industrially, especially in the food industry for the extraction of oils, vegetables proteins and natural ingredients. Yet as the European Chemicals Agency (ECHA) has reclassified hexane as a proven human neurotoxicant, industry is on the hunt for an alternative. A plant-based hexane alternative, methyloxolane, was added to the list of permitted processing aids for the manufacture of food ingredients by the European Parliament and Council.

Report Scope

Research Methodology of Market Research