N-hexyl Alcohol Market Analysis

N-hexyl Alcohol Market Analysis

N-hexyl alcohol market size for plasticizer precursor is projected to rise at a CAGR of more than 4% during the forecast timeframe. This is mainly attributed to wide-ranging product use in producing wrapping material across several end-user industries including pharmaceutical, food & beverage and personal care industry. Product is mainly used in producing PVC based packaging material which is used in wrapping vials, bottles, medicines, etc. in pharmaceutical industry and cosmetics such as lotions, creams shampoo, etc. in personal care industry. Rising aforementioned industries will make substantial contribution to the N-hexanol market size over the forecast time period. For instance, the overall retail sales of personal care industry were valued over USD 465 billion in 2015 which is likely to grow significantly in the coming years which in turn will have positive impact on the N-hexyl alcohol market size during the forecast timeframe.
 

N-hexanol market size for chemical constituted more than 30% of the industry share in 2016. This is due to wide-ranging product applications. For instance, it is used as a plasticizer precursor, chemical intermediate, inert ingredient, odor agent, lubricant additive, etc. in the chemical industry. As a lubricant additive, it is used to improve the overall performance of the base oil. Furthermore, its application as inert ingredient is in the form of emulsifiers, solvents, carriers, propellants, dyes, etc. Moreover, it is used as a chemical intermediate in preparation of variety of solvents, solid separation agents, surface active agents, adhesive and sealants chemicals, etc. which will help make significant contribution to N-hexanol market size during the forecast period.
 

Asia Pacific N-hexyl alcohol market is the fastest growing and is anticipated to rise at a CAGR close to 4.5% in the forecast timeframe. Sturdy growth in personal care, pharmaceutical and food & beverage industry in the region mainly due to rising socio-economic factor, will make valuable contribution to N-hexanol market size in the coming years. According to the U.S. Department of Commerce, per capita cosmetics spending in the Asian countries witnessed an exponential rise in last 5 years. The region also observes trends such as: emergence of a young urban population, organized retail, increased westernization of FMCG markets and the rapidly booming e-commerce market. Additionally, rising packaged food industry will further propel the product demand in direct food contact applications including: polymer films, food wraps, etc. which will help attain significant gains to N-hexanol market size in the coming years.