N-Hexane Price Trend

N-Hexane Prices December 2023

There were varying price movements observed in the n-hexane market in the USA, reaching 1198 USD/MT in December 2023. Several factors, such as supply conditions, weather, and global food price trends, had an impact on pricing trends. These factors came together to influence market dynamics, illustrating the complex relationship between local and global factors affecting prices.

The operational pause of Kelly-Moore Paints caused disruptions in the industrial solvent industry, leading to price spikes in n-hexane and impacting the global supply chain. In December, n-hexane prices in China hit USD 1910 USD/MT, showcasing the intricate interplay of demand, industry disruptions, and global market conditions impacting prices during the Q4 2023.

The price of n-hexane in Germany for Q4 2023 reached 1284 USD/MT in December.

N-Hexane Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “N-Hexane Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of n-hexane pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of n-hexane at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of n-hexane price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing n-hexane price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

N-Hexane Market Analysis

The global n-hexane market size reached US$ 2,640.1 Million in 2023. By 2032, IMARC Group expects the market to reach US$ 3,493 Million, at a projected CAGR of 3.10% during 2023-2032.

• The growing use of n-hexane as a cleaning agent and solvent in the pharmaceutical industry is offering a favorable market outlook. It is used in the production of several drugs, such as active pharmaceutical ingredients (APIs) and excipients, within the pharmaceutical industry. In 2023, the size of the worldwide active pharmaceutical ingredients (API) market hit US$ 234.7 Billion. In the future, IMARC Group anticipates that the market will achieve a value of US$ 357.0 Billion by 2032, showing a growth rate (CAGR) of 4.6% from 2024 to 2032. The rising demand for dependable and efficient solvents like n-hexane is highlighted by the growth of the pharmaceutical industry, driven by the high healthcare costs, the presence of chronic illnesses, and the focus on effective medications. Additionally, it is also used in the purification and extraction of vitamins and other crucial pharmaceutical compounds. The strict rules for product purity in pharmaceutical manufacturing require solvents that can meet high cleanliness and effectiveness standards, making n-hexane a top choice despite increasing concerns about solvent safety and environmental effects.
• The US Census Bureau projected that the population of individuals aged 65 and above will grow by 47%, reaching 82 million by 2050 from 58 million in 2022. It was also forecasted that the proportion of individuals in this age group as part of the total population will increase from 17% to 23%. The rise in the number of elderly individuals is leading to a greater need for medications and healthcare products to deal with age-related ailments. N-hexane is essential in the pharmaceutical industry for extracting and purifying API as a solvent. Its crucial role in maintaining the purity of these substances is essential for creating dependable and secure medicines crucial for managing chronic illnesses prevalent among the elderly, like heart disease and diabetes.
• N-hexane is commonly selected for its effectiveness in extracting oils from seeds and vegetables without causing notable harm to the overall quality of the end product. This solvent is highly efficient for sunflower, soybean, and palm oils, which are essential in diets worldwide. The increasing global population is also driving the demand for cooking oils, leading to a greater requirement for n-hexane. As per the 2023 World Population Data Sheet, the global population exceeded 8 billion in 2023 and is projected to approach 9.8 billion by 2050.
• N-hexane is used in the manufacturing of rubber cement and different types of adhesives. It is highly valued in sectors that need tough, long-lasting bonds, like the automotive and construction industries.

N-Hexane News

The report covers the latest developments, updates, and trends impacting the global n-hexane market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in n-hexane production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the n-hexane price trend.

Latest developments in the n-hexane industry:

• August 2023: Shell Energy India planned to invest Rs 3,500 crore in Gujarat for setting up a renewable energy facility, EV charging stations, and an LNG regasification terminal, generating around 4,300 employment opportunities. The projects are scheduled to begin commercial production between 2026 and 2027, which will support job creation and the development of renewable energy infrastructure in the state.
• August 2024: China Petrochemical Corporation launched the biggest photovoltaic-powered hydrogen production project in Xinjiang, which spans an area comparable to more than 900 football fields and is completely linked to the grid.
• February 2024: Rompetrol Downstream, a division of KMG International Group, opened two additional service centers with gas stations on the A1 highway in Romania, finalizing a project aimed at improving infrastructure along the road. These facilities, offering a range of amenities and services, serve the requirements of travelers and drivers on one of the most heavily trafficked roads in the country.

Product Description

N-hexane is a clear, volatile liquid with a slightly unpleasant smell, mainly recognized for being found in gasoline. It is extracted in industrial settings by distilling petroleum, particularly from the portion that evaporates within a specific temperature range. It is cheap to manufacture and use, making it a budget-friendly option for numerous industrial uses. It can efficiently dissolve and remove non-polar substances without tainting or changing them is highly valuable. It can be smoothly utilized in extensive operations because of its easy access and ability to grow in size.

N-hexane is essential in sectors such as food production and manufacturing, playing a vital role in economic activities. It is employed in oil extraction procedures to increase oil production, which is essential for fulfilling worldwide food oil needs. Additionally, in labs and pharmaceutical sectors, the accurate use of dissolving and isolating is crucial for advancing different scientific and medical breakthroughs.

Regional Coverage

The report provides a detailed analysis of the n-hexane market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the n-hexane price trend.

Global N-Hexane Price

The report offers a holistic view of the global n-hexane pricing trends in the form of n-hexane price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of n-hexane but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed n-hexane demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe N-Hexane Price

During the fourth quarter of FY23, Europe saw varied n-hexane price movements, experiencing a notable increase in October driven by strong cost factors and steady purchasing in the Netherlands. Lower natural gas prices, reduced demand from downstream sectors, a global drop in vegetable oil prices, decreased textile exports, and manufacturing contractions caused prices to decrease in November and December.

This analysis can be extended to include detailed n-hexane price information for a comprehensive list of countries.

North America N-Hexane Price

The prices of n-hexane initially increased in October because of strong cost support and steady domestic procurement. Nevertheless, there was a decline in prices during November, which persisted into December due to the impact of low natural gas prices and decreased demand from downstream industries. Adequate gas resources from a gentle climate and reduced output from energy-consuming industries played a part in this pattern. Furthermore, the decrease in food prices worldwide, particularly in vegetable oils, affected the demand for n-hexane.

Specific n-hexane historical data within the United States and Canada can also be provided.

Middle East and Africa N-Hexane Price

The report explores the n-hexane pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on n-hexane prices for countries can also be provided.

Asia Pacific N-Hexane Price

In the fourth quarter of 2023, n-hexane in the Asia Pacific market experienced a favorable upward trajectory, which was primarily influenced by stable feedstock naphtha prices and ample stockpile availability. The last two months experienced notable growth as demand increased in the paint and coating industries downstream from the flourishing automobile sector, especially in China, where overall auto sales and new energy vehicle sales rose significantly.

This n-hexane price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America N-Hexane Price

The analysis of n-hexane prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of n-hexane pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting n-hexane price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The n-hexane price charts ensure our clients remain at the forefront of the industry.