Persistence Market Research’s market report titled ‘n-Heptane Market: Global Industry Analysis, 2013–2017 and Forecast, 2018–2026’ examines the n-Heptane market and offers essential market insights for the next eight years.
According to Persistence Market Research analysis, the global sales of n-Heptane is estimated to be valued at US$ 573.5 Mn by the end of 2018 and is expected to register a 5.4% CAGR over the period of 2018–2026. This report reveals the demand for n-Heptane and its break-up on the basis of different purity types and applications.
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n-Heptane Market: Dynamics
The global n-Heptane market is expected to witness significant growth, due to the rising demand from various end-use industries. The growing automotive industry and surge in construction across the globe have together escalated the demand for paints & coatings. The growth of the paints & coating industry is estimated to boost the n-Heptane market.
The increasing consumption of plastic & polymers for various applications has catalyzed the growth of the plastic & polymer industry, which in turn is surging the demand for n-Heptane in the global market. Increasing disposable income and growing standard of living have led to a rise in the consumption of electronic products, and the demand is expected to follow an upward trend over the assessment period. The growth of the electronic industry will have a positive impact on the n-Heptane market.
Growth of the pharmaceutical industry is also driving the demand for high purity n-Heptane. Also, the rising demand for n-Heptane from other end-use applications such as adhesives & sealants will have a positive impact on the n-Heptane market. Increasing regulations pertaining to aromatic solvents are positively impacting the growth of the n-Heptane market. Various regulatory bodies have declared n-Heptane as less toxic in comparison with n-Hexane, which has been fueling the demand for n-Heptane as a solvent.
Technological advancements have enhanced operational efficiency in plants, which in turn has increased the production n-Heptane – a positive sign for the n-Heptane market. Some of the key players in the n-Heptane market manufacture n-Heptane especially for fuel testing as a reference fuel.
n-Heptane Market: Segmentation Analysis
The global n-Heptane market has been segmented on the basis of purity type into <95%, 95–99% and ≥99%.
- In terms of purity, the 95-99% segment is expected to dominate the global n-Heptane market. The 95-99% segment is estimated to witness significant growth due to the increasing demand from paints & coatings and polymer and plastic industries, among others
- The ≥99% segment is expected to witness lucrative growth over the forecast period due to the rising demand from pharmaceutical and electronics industries
- The <95% segment is expected to witness sluggish growth in comparison with other segments. N-Heptane with <95% purity is mainly used by local manufacturers for applications where purity is not an important criteria
n-Heptane: Regional Market Projections
In terms of region/country, China is anticipated to dominate the global n-Heptane market throughout the forecast period. The China n-Heptane market is expected to expand at a CAGR of around 6.8% during the forecast period with the Asia Pacific Excluding Japan & China (APEJ&C) market registering a relatively higher CAGR during the forecast period.
Latin America is also expected to witness significant growth in the global n-Heptane market. North America & Europe n-Heptane markets are in matured stages and thus, are expected to witness slow growth over the forecast period.
- Exxon Mobil Corporation
- Royal Dutch Shell plc.
- SK Global Chemical Co., Ltd.
- Haltermann Carless Deutschland GmbH
- Chevron Phillips Chemical Company
- Sankyo Chemical Co. Ltd.
- Hanwha Total Petrochemical Company Limited
- DHC Solvent Chemie GmbH
- Mehta Petro-Refineries Limited
- Merck Millipore Limited
- Gadiv Petrochemical Industries Ltd.
- Chuzhou Runda Solvents Co.
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