Valley Cottage, NY -- (SBWIRE) -- 04/18/2018 -- Global Hexylene Glycol Market: Introduction
Hexylene Glycol (HG) is an organic compound derived from acetone which has two alcohol functions. Hexylene glycol is a clear, colorless oily liquid with a characteristic order and it is fully miscible in water. Hexylene glycol is mainly used as solvent or coupling agent in many products such as metal working fluid, paints &coatings, skin care products, textiles & leather and many more. Another prime application of Hexylene glycol is as a chemical intermediate and it is used as a building block for chemical synthesis. It is manufactured in different grades depending upon the level of purity required for its application. For instance, Pharmaceutical Grade products are manufactured under appropriate controls for use as a raw material in pharmaceutical or biopharmaceutical production.
Hexylene Glycol also finds its another application in oil and gas industry as a down hole lubricant for oil & natural gas fields and it is an ingredient in grinding and extrusion aids. Hexylene glycol is also employed as an antifreeze and as a coupling agent for hydraulic fluid. The above mentioned application in diverse sectors is expected to have a positive impact on the demand of hexylene glycol leading to the healthy growth of hexylene market during the review period.
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Global Hexylene Glycol Market: Market Dynamics
Hexylene glycol market is expected to have a significant growth over the forecast period owing to large number of applications both, commercially and industrially. The demand for hexylene glycol is primarily driven by increase in demand from growing paint and coating industry. Among the end use industries, industrial coatings segment is dominating the global hexylene glycol market, and this segment is expected to be the most attractive segment for hexylene glycol market with a bright prospect for the growth. Another key driver for the growth of hexylene glycol market is increasing use as a solvent or viscosity agent for consumer products like skin care products. Although, some agencies such as Food and Drug Administration (FDA) and Cosmetic Ingredient Review (CIR) have approved the use of hexylene glycol as solvent in skin care products, some studies have revealed that it is an irritant, which might slightly affect the growth of hexylene glycol market. Hexylene glycol market is relatively mature market hence provide relatively low opportunities for growth and development.
The growth of hexylene glycol market is driven by rising demand and multiple functionalities of hexylene glycol in industries such as, pharmaceutical, industrial coatings, oil & gas and Leather & textile. One of the key trend identified in the market is that key manufacturers are investing a large amount in emerging countries to order to penetrate and enhance their market presence and distribution network through joint ventures, acquisition and capacity expansions.
Global Hexylene Glycol Market: Segmentation
On the basis of end use, global hexylene market is segmented as:
Leather and Textile Processing
Cosmetics & Personal Care
On the basis of grade, global hexylene glycol market is segmented as:
Industrial/ Technical Grade
Global Hexylene Glycol Market: Regional Outlook
Europe is estimated to dominate the global hexylene glycol market, owing to major concentration of hexylene glycol production facilities in Europe, driving the continuous growth and innovation in the hexylene glycol market. However, North America and European hexylene glycol market have reached their saturation and hence expected to expand at relatively slower rates over the forecast period. Asia pacific hexylene glycol market is expected to expand at steady rate during the assessment period owing to increasing demand from continuously growing end use industries driven by increasing industrialization and urbanization. Latin America hexylene glycol market is estimated to grow at relatively higher pace owing to increasing foreign investment and increasing privatization.
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Global Hexylene Glycol Market: Key Players
Examples of some of the market participants operating in the global rust remover market are as follows:
The Dow Chemical Company
VWR International, LLC
ATOFINA Chemicals Inc
WORLD CHEM INDUSTRIES