Hexane Market Set to Hit USD 3.43 Billion by 2032, Fueled by Growth in Industrial Applications and Solvent Demand
Surging demand for Hexane in bio-based adhesives and eco-friendly cleaning agents is fueling market growth amid rising sustainability and industrial efficiency trends.
Austin, May 19, 2025 (GLOBE NEWSWIRE) -- The Hexane Market Size was valued at USD 2.41 billion in 2024 and is expected to reach USD 3.43 billion by 2032, growing at a CAGR of 4.51% over the forecast period of 2025-2032.Download PDF Sample of Hexane Market @ https://www.snsinsider.com/sample-request/7070
Widening Industrial Applications and Technological Advancements Propel Hexane Demand Across Food, Pharma, and Chemical Sectors Globally
The Hexane market has witnessed substantial growth due to the growing demand for Hexane from pharmaceuticals, cosmetics, and food processing industries. One of the main reasons is the effectiveness of Hexane as an extraction solvent and polymerization agent, together with its evolution in favour of more sustainable uses. The use of SFO in edible oil extraction in 2023 by the U.S. Department of Agriculture indicates its increased usage in the food sector. Hexane also has a use in pharmaceuticals in soft gel capsules, with the American Chemical Society noting increased use in essential oil and biochemical extractions. U.S. Department of Labor Bureau of Labor Statistics expects demand in the chemical manufacturing industry, for which Hexane is vital, to remain strong. These advancements also illustrate Hexane's ever-growing industrial importance and inevitable continued demand over the next several years, owing to its versatility and efficiency in various applications.
The US Hexane Market Size was valued at USD 427.74 million in 2023, projected to reach USD 673.00 million by 2032, growing at a CAGR of 5.83% over the forecast period of 2024-2032.
There is fast growth in the US Hexane market as electric vehicles are being in heavy demand and massive funding is seen in the US for battery production. The Inflation Reduction Act is already shaping the future of the battery manufacturing industry, in which players like Novonix are ramping up to cater to increasing demand for battery-grade materials. GM's investment in the Thacker Pass lithium mine is further illustration of the focus on local lithium resource. Such endeavors could set the United States up as a significant force in the global market for battery materials.
Key Players:
Shell plc
ExxonMobil Corporation
Phillips 66 Company
Chevron Phillips Chemical Company LLC
Rompetrol Rafinare S.A.
Sumitomo Chemical Co., Ltd.
Honeywell International Inc.
Junyuan Petroleum Group
Merck KGaA
Indian Oil Corporation Limited
Hexane Market Report Scope:
Report Attributes
Details
Market Size in 2024
USD 2.41 Billion
Market Size by 2032
USD 3.43 Billion
CAGR
CAGR of 4.51% From 2025 to 2032
Base Year
2024
Forecast Period
2025-2032
Historical Data
2021-2023
Report Scope & Coverage
Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments
• By Grade (Polymerization, Extraction, Others)• By Application (Edible Oil Treatment, Industrial Solvent, Adhesives Formulation, Leather Treatment, Others)
Key Drivers
• Rise in Rubber and Polymer Production Drive Market Growth.
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Innovative Technologies Reshaping Hexane Applications Across Industrial and Eco-Friendly Domains
Eco-friendly hexane made from renewable content for increased sustainability and lower environmental impact.
Enhanced distillation for higher purity hexane for pharmaceutical and food use.
The online checker can improve the solvency efficiency, reduce the industrial Hexane discarded.
Closed system reduces hexane emissions and increases worker safety.
Nanotech formulations allow the application of Hexane on advanced coatings and polymers.
By Grade, Extraction Segment Dominated the Hexane Market in 2023 with a 54% Market Share
The dominance is mainly due to the general use of Hexane as the extracting solvent for the removal of vegetable oils from seeds, including soybean, sunflower, and canola. The higher rate of separating oils without any changes in flavor or nutrition value of oil, hexane is the most preferred for food processing industries, particularly for the edible oil developing countries. Moreover, regulatory authorities such as the United States Food and Drug Administration (FDA) allow its employment when food-grade processing is taking place within specified constraints, thus promoting its increased demand. This segment's dominance is further boosted by increasing demand for mass-scale economic oil production.
By Application, Industrial Solvent Dominated the Hexane Market in 2023 with a 38% Market Share
This dominance is due to huge demand in cleaning, degreasing, adhesive formulating, and rubber industries since it has excellent solvency-like properties and a low boiling point. It is popular in commercial settings for dissolving oils and resins, removing metal oxides, and more, for thinning adhesives and inks. Moreover, the increasing automotive, construction, and packaging industries in developed and developing regions, in turn, augmented the demand for Hexane with its applications in various industrial operations. Rising regulations towards sustainable solvent alternatives have also helped technological advancements in Hexane applications and maintained its dominance in the market.
Asia Pacific dominated the Hexane Market in 2023, Holding a 41% Market Share
This dominance is attributed to the increasing chemical industry in such countries as China, India, and Japan. This dominance can be attributed in large part to the significant expansion of the mining of oil in the region, particularly edible oil and biofuels. Moreover, with exponential growth in the pharmaceuticals and cosmetics industry in the region, there is a consistent demand for Hexane-based products, especially for processing the formulations of soft gel capsules and personal care products. The area is well-positioned with low-cost raw materials and increasing local capacities, which make this one of the most important centers for Hexane production and consumption.
North America Emerged as the Fastest Growing Region in the Hexane Market with A Significant Growth Rate in The Forecast Period
The hexane market in the region has grown due to technological advancements in the chemical industry and increasing demand for Hexane in pharmaceutical and food applications. Hexane is manufactured by some U.S. companies like ExxonMobil and Chevron, and trends in cosmetics, health care use, including as an active ingredient in soft gel capsules and health supplements, are also driving its expansion. Further, more stringent environmental legislation, particularly in North America, is increasing the need for more sustainable and safer solvents like Hexane.
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Recent Developments
February 2025: Slovenia proposed listing n-hexane as SVHC under REACH due to health risks, with submission due August 2025.Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Hexane Market Segmentation, By Grade
8. Hexane Market Segmentation, By Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practice
12. Conclusion
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About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
CONTACT: Jagney Dave - Vice President of Client Engagement Phone: +1-315 636 4242 (US) | +44- 20 3290 5010 (UK)
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