Sellbyville, Delaware, March 28, 2018 (GLOBE NEWSWIRE) --

N-hexyl Alcohol Market Share is set to surpass USD 1.6 billion by 2024; according to a new research report by Global Market Insights. Strong growth trends in food & beverage, pharmaceutical and cosmetics industry primarily in Asia Pacific, mainly due to improving consumer spending power will subsequently boost demand for packaging material and will thus positively influence to the global N-hexyl alcohol market size by 2024. Product is widely applicable as plasticizer precursor for manufacturing wrapping material, such as polyvinyl chloride which is usually used for packaging medicines, personal care and food products.

High product cost along with presence of numerous product alternatives in the industry is probable to hamper the overall N-hexyl alcohol market size by 2024. Product alternatives such as N-undecanol; N-octanol, N-decanol, etc. are available in the industry and possess similar properties and are thus used as odor agent, chemical intermediate, etc. For example, N-decanol is a linear chain fatty alcohol, which is colorless and has a strong odor. It is also used as plasticizer for manufacturing various kinds of plastics. It is used as additive in lubricants and as a chemical intermediate for several industrial reactions which has the potential of hampering the N-hexanol market size by 2024.

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N-hexyl alcohol market for chemical intermediate constituted more than 20% of the overall n-hexanol market size in 2016. Product is used as a chemical intermediate across numerous end-user industry such as food, pharmaceutical and cosmetics owing to its value adding properties which helps boost the chemical reaction. In the pharmaceutical industry, it is applicable in the preparation of wide variety of medicines, antiseptics, hypnotics, etc. Additionally, it is used in the cosmetics industry in the preparation of variety of colorants and fine personal care chemicals. Robust growth in the above-mentioned industries mainly in Asia Pacific will make noteworthy influence on the overall N-hexanol market size by 2024.

Based on end-user, the N-hexyl alcohol market share for cosmetics industry is projected to grow at a CAGR of over 4% by 2024. It is mainly attributed to extensive product use as plasticizer, inert ingredient, lubricant additive, chemical intermediate, odor agent, etc. Product is widely used as an inert ingredient in the preparation of several skin care and cosmetic products. Additionally, it is utilized as an intermediate in manufacturing variety of personal care chemicals and colorants to produce shampoo, lotions, creams, soaps, etc. and henceforth will make substantial contribution to the N-hexanol market size by 2024.

Browse key industry insights spread across 357 pages with 425 market data tables & 35 figures & charts from this 2018 report N-hexyl Alcohol Market in detail along with the table of contents:

North America N-hexanol market size constituted a major chunk of the overall business size and accounted for more than 40% of the total market share in 2016. It is primarily due to well established pharmaceutical, food and personal care industry in the region. According to International Trade Administration (ITA), total healthcare expenditure in the U.S. in 2016 was approximately USD 3 trillion, which accounted for 17.4% of the country’s GDP. Product use as a chemical intermediate in medicine and drugs manufacturing is poised to witness rise considering the U.S. pharma industry growth over the forecast period which will make significant additions to N-hexyl alcohol market size by 2024.

N-hexanol market share is fragmented with major players constituting close to 30% of the global business size in 2016. Prominent contributors are Sasol, Alfa Aesar, Merck, Nanjing Chemical, Yancheng Hongtai, Haihang Industry, Simagchem, Penta International and Ecogreen Oleochemicals. Few of these players are making huge investment in their R&D facilities to help expand their presence in the market. For instance, Ecogreen Oleochemicals successfully completed the expansion of fatty alcohol facility in Batam, Indonesia in December 2014. This move was intended to expand its customer base and help attain competitive edge over its competitors.

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