Hexylene Glycol Market Overview
According to a research survey conducted by ChemView Consulting, the current valuation of the Global Hexylene Glycol Market is worth US$ 177.6 Mn in 2022. The market value of stainless steel is expected to reach US$ 248.1 Mn by 2032, growing at a CAGR of 3.4% over the forecast period.
A colorless chemical substance known as 2-methyl-2, 4-pentanediol is hexylene glycol (MPD). Hexylene glycol is a viscous substance that can mix with fatty acids, water, and other organic solvents. It is produced using the hydrogenation process using diacetone alcohol. Hexylene glycol has a high level of emulsion stabilizing abilities and low volatility. In addition to its employment in coatings, it also functions as a setting agent in the production of textiles and as an intermediary in the synthesis of agrochemicals and pharmaceuticals.
ChemView Consulting has analyzed that hexylene glycol is typically used as a solvent in paint and coatings. Due to the increase in construction activity worldwide, the paints and coatings market is anticipated to rise rapidly during the forecast period. Consequently, it is expected that this will increase demand for hexylene glycol during the forecast period. In addition to the building sector, the automotive industry, which has experienced rapid growth over the past few years, makes extensive use of paints and coatings. The use of paints and coatings is anticipated to rise along with the increase in automotive production.
Hexylene glycol demand has increased significantly in the pharmaceutical sector in the past few years. Pharma-grade hexylene glycol is utilized as a processing solvent in producing pharmaceuticals and manufacturing medical wipes and various medication formulations. Rising R&D spending and healthcare costs are expected to expand significantly in the upcoming years, favorably affecting the consumption of hexylene glycol.
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Segments Covered in Report
- Paints & Coatings
- Oil & Gas
- Leather & Textile
- Chemical Intermediate
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Hexylene Glycol Market
- Based on the grade, hexylene glycol demand has increased significantly in the pharmaceutical sector in the past few years. Rising R&D spending and healthcare costs are expected to expand considerably in the upcoming years, favorably affecting the consumption of hexylene glycol.
- Based on end-use, the paints and coatings industry is anticipated to account for around 36.0% of total consumption. The demand for paints and coatings is anticipated to increase as more homes and businesses are built. The use of colors and layers is expected to rise as vehicle manufacturing grows, which is anticipated to be good for the market’s expansion.
- The packaging industry’s rapid growth is driving up demand for printing inks. Because of its use in the formulation of printing inks, this factor will drive the growth of the hexylene glycol market.
- Hexylene glycol consumption is anticipated to grow significantly in South Asia. Due to strong growth in the end-use industries, emerging economies with a market share of 54.2%, such as those in the Asia Pacific, have tremendous potential for growth in the upcoming years. Hexylene glycol is in high demand in India because of the development of pharmaceutical, paint, coating, and other chemical industries.
- Due to the presence of a large number of tier II & III players in East Asia and tier I players in North America, East Asia, South Asia, and North America are expected to be prominent regions over the forecast period.
Some of the key players covered in the market study are Arkema Group, Solventis Ltd., SOLVAY S.A., Monument Chemicals, Inc., DowDupont, BASF SE, Lonza Group, FINAR LIMITED, LANXESS, and Praasol Chemicals Ltd.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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