According to Future Market Insights (FMI), the hexylene glycol market will increase by 2.8% year on year in 2022, reaching a value of US$ 202.8 million by the end of 2022. Global sales are predicted to expand at a 3.1% CAGR between 2022 and 2029.
The global hexylene glycol market was predicted to be worth approximately US$ 187 million in 2021, with a market volume of 73,590 tons. Hexylene glycol is in high demand in the personal care and cosmetics industries because it is used as a surfactant, emulsifier, and viscosity-reducing agent in a wide range of products.
Furthermore, the increasing use of hexylene glycol as a direct solvent in paints and coatings, household and industrial cleansers, and other applications is likely to pave the way for good sales during the projection period (2022-2029).
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Key Takeaways from Global Hexylene Glycol Market Study
- Pharmaceutical and industrial-grade hexylene glycol is likely to be sought-after in the future, owing to the growth of the pharma and construction industries.
- Demand for printing inks is rapidly increasing due to the rapid growth of the packaging industry. This factor will drive the growth of the market, owing to its application in the formulation of printing inks.
- Growth prospects are high in emerging markets such as India and Indonesia. Companies are focusing on different strategies to ensure a good presence in both, emerging and matured markets. Since there are limited opportunities for hexylene glycol manufacturers in developed regions, manufacturers are focusing on emerging markets to capture a larger market share.
- East Asia, South Asia, and North America are expected to be prominent regions over the forecast period, owing to the presence of a large number of tier II & III players in East Asia and tier I players in North America.
“Low evaporation rate and complete miscibility with water make hexylene glycol an excellent solvent. As a result, its application across several end-use industries is projected to rise, driving market growth over the forecast period.”
Hexylene Glycol Market: Competitive Landscape
The hexylene glycol market is fairly consolidated. Global players such as BASF SE, Solvay SA, Dow DuPont, and Lonza Group have invested strategically in the market in the recent past, which suggests that major manufacturers are keeping tabs on the market, as it holds a lot of potential in the coming future.
Research & development, coupled with the expansion of production capacity and footprint, remains the key strategy being followed by hexylene manufacturers to enhance productivity and capture new market opportunities.
Looking for More Information?
The market report on hexylene glycol published by Future Market Insights brings to the fore a pin-point analysis of the market and offers comprehensive information with historical demand data for 2014-2021 and forecast statistics for 2022-2029.
The study offers insightful information on the global market based on various categories – grade (pharmaceutical and industrial), application (solvents, chemical intermediates, antifreeze, and others), and end use (construction, drugs, paints & coatings, chemicals, oil & gas, leather & textiles, and others), across seven regions.
This study highlights key market players who are well-known vendors and have proven themselves as key shareholders in the global hexylene glycol market. Some of the market players included in the report are BASF SE, Solvay SA, Dow DuPont, Lonza Group, LANXESS, and Arkema, among others.
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Key Segmentation
By Grade :
- Pharmaceuticals
- Industrial
By End-use :
- Construction
- Drug
- Paints & Coatings
- Chemicals
- Oil & Gas
- Leather & Textile
- Others
By Application :
- Solvent
- Chemical Intermediate
- Antifreeze
- Others
By Region :
- North America
- Latin America
- Europe
- Middle East and Africa (MEA)
- East Asia
- South Asia
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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