Hexane Market Outlook - Supply and Demand Analysis 2025-2034

Hexane Market

Hexane is a highly volatile, colourless liquid hydrocarbon. It is a member of the alkane family and is characterised by its low boiling point, distinct odour, and non-polar nature. Hexane is known for its excellent solvent properties, particularly for non-polar substances. It is most commonly utilised as an extraction solvent, industrial cleaning and degreasing, adhesives and sealants, paints and coatings, and laboratory reagents, among others.

Global Supply/Demand Outlook

The global hexane market stood at a volume of around 1,320 KT in 2023. The market is estimated to grow at a CAGR of 3.80% between 2025 and 2034 to reach a volume of about 1,835.8 KT by 2032. The market is supported by the consistent demand for the product from downstream sectors, including edible oil, adhesives, coatings and paints. Being an edible oil-extractant, n-hexane is used with seed crops like soybeans, rape seed, peanuts, mustard seed, cottonseed, corn germ, and safflower seed. Additionally, in the pharmaceutical industry, hexane finds application in various synthesis and separations and to provide required shape to pills and tablets.

Around 60% of the hexane produced globally is consumed in performing oil extraction activities from seeds. The remaining is used in the production of natural extracts and specialty oils, among other uses.

Regional Market Analysis

In terms of hexane consumption, the Asia Pacific represents the leading market, followed by North America. Within the Asia Pacific, China remains the largest hexane producer, and the country also holds a strong position in the global market as a result of its large-scale operations and production capabilities. The hexane manufacturers in China have emerged as reliable suppliers both locally and internationally, meeting the needs of various industries globally.

Key Market Players

The top five manufacturers of hexane are China Petroleum & Chemical Corporation, Royal Dutch Shell plc, ExxonMobil Corporation, Rompetrol-Rafinare, and Indian Oil Corporation Ltd. China Petroleum & Chemical Corporation, a leading integrated energy and chemical company, has various subsidiaries like Sinopec Yangzi Petrochemical Company Limited that are engaged in crude oil refining, production, and distribution of hydrocarbon derivatives.

Other major manufacturers of hexane are Sumitomo Chemical Co., Ltd., Chevron Phillips Chemical, Bharat Petroleum Corporation Ltd., TotalEnergies SE, Junyuan Petroleum Group, and Idemitsu Kosan Co., Ltd.

Key Questions Answered in the Report:

• What are the high-growth opportunities and markets for hexane by application and region?

• What are the types of hexane available by region?

• Which segments and regions are projected to grow at a faster pace and why in the hexane market?

• What is the nameplate capacity of hexane by region from 2018 to 2032?

• How does the plant capacity utilisation of hexane vary by region between 2018 and 2034?

• Who are the major players in the hexane market by capacity and region?

• What major plant shutdowns and expansions have occurred in the hexane market in the last year and the last quarter?

• What major plant shutdowns and expansions are planned in the hexane market over the next year and quarters?

• How did export and import dynamics of hexane vary by region in terms of value between 2018 and 2023?

• How did export and import dynamics of hexane vary by region in terms of volume between 2018 and 2023?

• What impacts have shutdowns, force majeure events, and plant closures had on demand and pricing of hexane?

• What are the environmental considerations and regulatory impacts affecting the hexane market?

• What technological innovations are having an impact on the production and application of hexane?

• What are the key trends and innovations in the hexane market?

• What are the challenges and opportunities faced by hexane manufacturers?

• What are the potential risks and barriers to entry for new players in the hexane market?

• What strategic investments and expansions have major players made in the hexane market?

• How are geopolitical factors and international trade policies affecting the global hexane market?

• What are the price trends for hexane, and how are they expected to change?

• How does the supply chain of hexane operate, and what are its key components?