Hexane is a colorless fluid with a relatively low and narrow boiling range, able to dissolve in many organic compounds and evaporate quickly, making it a suitable solvent and diluent for a wide range of industrial applications and low odor and quick-drying properties. According to BlueQuark Research & Consulting, the Global Hexane market is expected to witness a considerable growth rate during the forecasted period. Factors such as the edible oil industry's increasing use as an oil extractant for seed crops are expected to support Hexane Market growth over the forecasted period. Further, the food industry's high demand for n-Hexane is likely to drive market expansion throughout the forecasted period. Furthermore, the rising demand for Hexane as a cleaning agent in various industries such as textile and cleaning is likely to support the need for Hexane in the forecasted period. However, insufficiency in raw material supply due to the lockdown and fluctuations in the prices of crude materials will pose a significant challenge to the growth of the global hexane market. Accidental injuries caused by Hexane in the laboratories will obstruct the hexane market growth rate. Safety concerns related to hexane solvents, safer alternatives, and lack of skilled labor will also impede the hexane market growth rate.

Hexane is extensively utilized in different industries such as food and beverage, rubber, personal care, pharmaceutical, footwear, and others and is also worn to manufacture printing inks, paints, coatings, adhesives, and cosmetics. In recent times, n-hexane has been increasingly used in the medical field and integrated circuit (IC) electronic unit cleaning.

The major factors responsible for the global hexane market's growth are the increasing demand from the oil & gas extraction industry. Edible oil extraction is projected to dominate the application segment of the Global Hexane market. The rapid growth in the edible oil segment can be attributed to the rising awareness among consumers about refined oil and its impact on health. Additionally, Hexane exhibits properties such as removing unwanted taste, color preservation, and other undesirable food properties. All these properties propel Hexane's demand in the edible oil industry. Hexane is increasingly used as a solvent to extract edible oils from seed and vegetable crops, e.g., peanuts, soybeans, corn, etc. Hexane has a more remarkable ability to remove grease than other solvents, like petroleum ether and ethyl acetate. It readily mixes with vegetable oil and washes it out without disturbing fiber, sugar, protein, and undesired gums. The rise in the edible oil segment can be attributed to the surging awareness among consumers about refined oil and its impact on health. Additionally, consumers are prepared to pay higher prices for healthy food products due to increasing food-based health challenges, like high cholesterol, obesity, etc. The expanding popularity of edible oils with added health benefits in many countries shapes the purchase decisions of edible oils high in omega 3, vitamins, oryzanol, natural antioxidants, and others. Hexane is a chemical solvent that is colorless and cost-effective. Due to its superior properties, Hexane is worn for various industrial applications. However, the manufacture of Hexane depends completely on the availability of crude oil. Commonly, Hexane is available in two forms, i.e., pure-based Hexane and solvent-based Hexane. Solvent-based Hexane is usually used for industrial applications, and pure-based Hexane is used in laboratories for research and development proficiencies.

Asia-Pacific region is projected to dominate the Global Hexane market. Increasing demand from the extraction application in the area is expected to foster market growth over the forecast period. Due to the rapid urbanization in the region, various applications' demand is expected to grow during the forecast period in the textile, furniture, and printing industries, where Hexane is used as a cleaning agent. Growth in the need for Hexane, especially in the developing economies like India and China, increasing use of Hexane for a broad range of ends user applications such as edible oil extraction, an industrial solvent, adhesive formulation, leather treatment, furniture, paints, and coatings and other applications, raising awareness about the superior properties of hexanes and surge in industrialization, especially in the developing countries are the significant factors attributable to the growth of the hexane market. The primary use of Hexane solvents is to extract vegetable oil from crops like soybeans. The oil is removed for a variety of seed crops, including mustard seed, rapeseed, peanuts, flax, soybeans, safflower seed, cottonseed, and corn germ, then processed into food. The solvents are increasingly used as cleaning agents in the textile, shoemaking, furniture, and printing industries. It is growingly being used in the healthcare and pharmaceutical industry as a liquid in the manufacturing of tablet molds and a low-temperature thermometer and is anticipated to propel market growth. Furniture industry application includes its use as veneers manufactured from adhesives, lacquers, and cleaners. Growth in the sales of these products is predicted to drive the demand for n-hexane during the forecast period. Aside from this, the pharmaceutical industry represents one of the largest consumers of n-hexane. It is worn for shaping pills and tablets and used in various syntheses and separations. Moreover, it provides multiple advantages over other solvents, like cost-effectiveness and recyclability. Additionally, it is simple to remove it from solids and oil, due to which there has been an apparent shift towards its use in different applications. 

The Global Hexane market is highly fragmented. Major companies in the market were Bharat Petroleum Corporation Limited, Exxon Mobil Corporation, Jun Yuan Petroleum Group, Phillips 66 Company, Royal Dutch Shell PLC, and Indian Oil Corporation Ltd.

August 2019, ExxonMobil, a natural gas firm based in the United States, partnered with JL Goor Materials Ltd for an unknown sum. JL Goor Materials distributes hexane-based rotational molding resins in Ireland and the United Kingdom as a result of this agreement.

January 20, 2022, Shell Oil Company, a subsidiary of Royal Dutch Shell plc, has sold its 50 percent stake in Deer Park Refining Limited Partnership to P.M.I. Northamerica, S.A. De C.V. (a subsidiary of Pemex) for USD 596 million in cash and debt.

Global Hexane Market report provides deep insight into the Hexane market's current and future state across various regions. The study comprehensively analyzes the Hexane market by segmenting based on Type (n-Hexane, Neohexane, and Isohexane), Grade (Food Grade, Polymer Grade, and Other Grades), Application (Edible Oil Extractant, Industrial Solvents, Paints & Coatings, Adhesives & Sealants, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies' profiles, including their market shares and projects.