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Food and beverage applications to drive N-hexyl alcohol market forecast

Author : Ravi Chawat | Published Date : 2020-09-15 

N-decyl alcohol and N-octyl alcohol compounds offer similar chemical and physical properties like N-hexyl alcohol. Hence, easy availability of such product alternatives may hinder the market growth. However, growing pharmaceutical, food, and personal care industries in Middle East and Asia-Pacific regions will generate lucrative growth opportunities for the N-hexyl alcohol market in the forthcoming years. 

Based on the application spectrum, estimates claim that N-hexyl alcohol market valuation from food & beverage applications was worth USD 325 million in the year 2016 and is expected to register continuous growth during the estimated timeframe. Rising adoption of N-hexyl alcohol compounds as a flavoring agent for alcoholic beverages, fruits, and vegetables has bolstered product demand. Additionally, N-hexyl alcohol is utilized to develop additives for lubricants which are further used in food grain machine and spray dryers. The upsurge in demand for processed and packaged food products such as dairy products and frozen foods coupled with flourishing FMCG markets are aiding the market expansion.

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N-hexyl alcohol market perform in terms of chemical intermediate applications accounted for more than 20% of the total market size in 2016. Product is utilized as a chemical intermediate across some of the prominent industries such as, food and beverage, pharmaceuticals and cosmetics pertaining to its chemical reaction boosting properties. The pharmaceutical industry applies it while preparing variety of products such as medicines, hypnotics and antiseptics. Moreover, it is used in preparations of several colorants and fine personal care chemicals used across the cosmetic industry. Positive growth trends across personal care & pharmaceutical industry mainly driven by the high consumption rates of the Asia Pacific and Middle East will generate noteworthy potential for N-hexanol market expansion.

It is estimated that N-hexyl alcohol market from pharmaceutical sector will grow with a CAGR of 4% during 2017-2024. N-hexyl alcohol is widely used in developing various medicines such as actomyosin adenosine triphosphatase. Moreover, it is used as an intermediate during antiseptic production. N-hexyl alcohol is also used for conducting chromatography which helps to separate chiral compounds, thereby augmenting the contribution from pharma industry.

Considering the geographical landscape, Europe N-hexyl alcohol market held 20% share in the year 2016. N-hexyl alcohol is a key element in cosmetic and skin care items. The product is extensively used for preparing various fine cosmetic chemicals and colorants for personal care products. Thus, booming personal care sector in Europe is adding pace to the demand for N-hexyl alcohol across the region. Moreover, escalating investments in R&D activities by key industry players has led to development of innovative products which in turn is propelling the regional market. In 2016 for instance, the major companies operating in cosmetic sector invested approximately USD 1.57 billion in personal care vertical.

The prominent companies operating in the N-hexyl alcohol industry are Penta International, Nanjing Chemical, Haihang, Ecogreen Oleochemicals, Merck, Yancheng Hongtai, Sasol, and Alfa Aesar among others. As per estimates, these key industry players held 25% share in N-hexyl alcohol market in the year 2016. Moreover, major companies are focusing on R&D activities to develop innovative products in order to gain a competitive advantage in the market. In 2014 for instance, Ecogreen Oleochemicals successfully completed the extension of its fatty alcohol production facility in Indonesia.

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About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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