Market Research Future (MRFR) studied the global N-hexyl alcohol market 2021 for the review period till 2023. The market of N-hexyl alcohol is likely to rise at a high CAGR over the evaluation tenure to acquire substantial revenue by 2023.
Drivers and Restraints Impacting N-Hexyl Alcohol Market
The increase in industrial applications of the N-HEXYL ALCOHOL MARKET is expected to support the rise by 2023. The rise in demand for plasticizers and the growing awarness about the efficacy of N-hexyl alcohol as a plasticizer precursor can promote the market rise in the near future. The increase in demand of the product in the expanding chemical sector as a chemical intermediate in the production of sought-after chemicals can support the market upsurge.
In the cash-rich pharmaceutical sector, the market of N-hexyl alcohol is used as a flavoring agent, odor agent, inert ingredient, additive, lubricant, and processing aid among others can promote the rise of the market. N-hexyl alcohol is gaining ground in the agriculture sector owing to its pesticide properties and the growth of farming practices can support the market rise in the near future. In the growing food and beverages, the surging demand for the product can improve the market growth pace. Additional utility of the organic alcohol as fabric softeners, creams and lotions, hypnotic drugs, and antiseptics among others can also promote the market surge in the years to come.
Segment Study of N-Hexyl Alcohol Market
The segment study of the global N-hexyl alcohol market is based on application and end-use industry.
The application-based segments of the market of N-hexyl alcohol market are odor agent, plasticizer precursor, flavoring agent, chemical intermediate, additive, inert ingredient, processing aid, lubricant, and fabric softener among others. The rise in demand for N-hexyl alcohol-based flavoring agent can support the market surge.
The end-use industry-based segments of the N-hexyl alcohol market are cosmetics and personal care, chemicals, food beverage, plastic, and pharmaceuticals, textiles among others. The segment of food beverage, followed by the segment of pharmaceutical, is likely to earn decent revenue for the global market over the study tenure.
Regional Analysis of N-Hexyl Alcohol Market
In North America, the market of N-hexyl alcohol market is expected to rise at a high pace owing to the existence of an affluent chemicals industry in the region. The growing sales of the organic alcohol as an inert ingredient, emulsifier, propellant, solvent, intermediate chemical, solid separation agents, sealant chemicals, and adhesives among others can prompt the market expansion in the region. The US is expected to spearhead North America N-hexyl alcohol market owing increase in applications, such as; adhesives, plasticizers, emulsifiers, solvents, and pesticides, across various end-consumers.
The increasing consumption of N-hexyl alcohol by the expanding cosmetics and personal care industry in the EU as the organic alcohol is used production of creams and lotions, soaps, shampoos, and deodorants among others, which are observed to gain high preference among people in this region can prompt the market growth.
In the APAC region, the increasing demand of the product in the affluent food and beverage industry can drive the N-hexyl alcohol market in the region. The high utility of the product as in additive ice creams, beverages, gelatin, and baked goods among others. Moreover, the increasing preference for packaged beverages and food products as the demand for convenient is increasing, thus the need to extend their shelf lives is also necessary. Thus, this cause is expected to support APAC N-hexyl alcohol market in the years to come. The presence of well-established pharmaceuticals industry can add to the market rise in APAC.
The market of N-hexyl alcohol in the Latin America region is expected to garner decent revenue by end of the study tenure as it can witness a considerable increase the demand for cosmetics and personal care products. In regions, such as; Mexico and Brazil, the escalation of cosmetics solution for men can prompt the market growth of N-hexyl alcohol in the region. In the Middle East Asia and Africa, the market can exhibit considerable CAGR owing to rapidly growing industrial base.
Key Players of N-Hexyl Alcohol Market
Sasol Limited (South Africa), Bharat Jyoti Impex (India), Alfa Aesar (US), Merck KGaA (Germany), the Good Scents Company (US), Sisco Research Laboratories Pvt. Ltd. (India), Penta Manufacturer (US), Zhejiang NHU Company Ltd, NHU (China), and Ecogreen Oleochemicals (Singapore) are some reputed companies in the N-hexyl alcohol market that are enlisted by MRFR.
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