An Incisive, In-depth Analysis on the Hexylene Glycol Market
This study offers a comprehensive, 360 degree analysis on the Hexylene Glycol market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Hexylene Glycol market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
The report covers comprehensive information about the trends, volume (Tons) and value (US$Mn) projections, market dynamics, competition and recent developments in the global hexylene glycol market for the study period 2018 to 2028.
The global hexylene glycol market is estimated to reach US$ 240.5 Mn by the end of the forecast period, while registering a CAGR of 3.3% for the period 2018–2028. Growing demand from the paints & coatings industry, rising disposable income, favorable socio-economic trends, increasing acceptance among end-user industries, customizable product portfolio as per specific applications and production capacity expansion to meet the increasing demand are some of the key factors expected to augment the growth of the hexylene glycol market over the forecast period.
Sound demand from end-use sectors will create a favorable macroeconomic environment for the global hexylene glycol market
Generally, hexylene glycols are used as solvents in the paint and coating industry. The paints and coatings market is estimated to expand at a strong rate during the forecast period, owing to the growth of construction activities across the globe. This, in turn, is projected to propel the demand for hexylene glycol during the forecast period. Apart from the construction sector, the automotive sector is also witnessing strong growth. This growth of the automotive sector along with growing disposable income and increasing per capita consumption in the global market are expected to drive the growth of the paints & coatings industry in the near future.
Moreover, the rebound in the U.S. residential construction and automotive sectors has boosted the growth of the paint market. Most of the paint companies in North America have witnessed stability in raw material costs and shale gas boom and have been witnessing new opportunities in protective and industrial coatings as the cost continues to decline. Further, increasing investments in infrastructure development, rapid urbanization and industrialization in countries such as India, China, Mexico, UAE and ASEAN countries are also expected to pave way for the growth of the hexylene glycol market over the forecast period.
Significant demand from leather & textile sectors as well as cosmetics and personal care industries is anticipated in the coming years
Hexylene glycols are prominently used in the leather & textile industry as solvents or coupling agents for providing strength to the end use products. The textile industry has been gaining traction over the last couple of years, owing to various factors such as globalization, growth of emerging economies, governments’ initiatives to reduce interest rates, increase in FDI rates and many other factors, which in turn will drive the demand for hexylene glycol.
Changing lifestyle, rise in disposable income, growing global economies and an increase in the demand for various skin protective products are some of the factors driving the demand in the cosmetics industry Manufacturers are innovating their products and technologies as per customer needs to sustain their market share in the hexylene glycol market. Different strategies are being adopted by leading producers in the cosmetic industry. Some of the strategies being adopted by prominent market players include acquisitions, new product launches, agreements and expansion.
Dependency on raw materials and substitutes for hexylene glycol is expected to restrict market growth in the coming future
One of the key raw materials for the production of hexylene glycols is acetone, which is generally derived from refinery operations & petrochemical feedstock and widely consumed by the colorants and coatings industry.
Hexylene glycol holds a large share in the paints & coatings market. The use of hexylene glycol is low as compared to that of other solvents, owing to its high price and specialty applications, which require special characteristics. Methyl ethyl glycol and di methyl ethyl glycol are common substitutes for hexylene glycol, owing to their low price and higher stability with end use products.
North America is pegged to remain a high value-high growth region in the hexylene glycol market
Increasing industrial production, improved economic conditions and consistent growth in end-use sectors, such as chemical industry, oil & gas, and paints & coatings, are expected to drive the demand growth for hexylene glycol.
The established manufacturing sector in the region and increasing industrialization and urbanization will provide a firm platform for the growth of the hexylene glycol market. Asia Pacific, especially China, is expected to register 1.3X growth in the market in terms of value, followed by SEA & P and Western Europe. North America is anticipated to create a strong incremental $ opportunity for the key manufacturers in the coming period.
On the other hand, China and Western Europe, among other regions are expected to witness weak growth in terms of value and volume over the forecast period. On the basis of basis point share (BPS), SEA& P and Middle East & Africa collectively hold a 16.9% share by value.
Hexylene Glycol Market – Competitive Landscape
The global hexylene glycol market is highly fragmented. The Tier 1 players in the hexylene glycol market are estimated to hold almost one-third of the market value share by 2018 end.
In the recent past, the hexylene glycol market has witnessed significant developments from a competition perspective. Capacity expansions, acquisitions and collaborations are some of the preferred strategies opted by key players to expand and sustain in the global hexylene glycol market.
Tier 1 key players of the hexylene glycol market are continuously focusing on increasing their market share in the North America market by entering into various strategic partnerships and joint ventures with regional players. In addition, some regional market players of hexylene glycol are focusing on making long-term relationships with direct end-users to withstand continuous revenue flow
On the basis of product innovation, some of the regional market players are focusing on innovative product developments in hexylene glycol and estimated to introduced with some other grades into their product portfolio to gain maximum regional share
Distribution of hexylene glycol through online distribution channel is an alternative strategy of the manufacturers in order to further strengthen the market presence in regional as well as in global market.
Some of the prominent players covered in this study of the hexylene glycol market are BASF SE, Solvay S.A, DowDupont, Arkema Group, Solventis Ltd, Monument Chemicals, Inc., Lonza Group, Lanxess, Finar Limited and Prasol chemicals Ltd, among others.
Key questions answered in the global hexylene glycol report
How has the hexylene glycol market evolved over the last four years?
What shape will the hexylene glycol market take, in terms of volume and value, during the study period?
What are the prevailing market dynamics in the hexylene glycol market?
What are some of the important developments and trends being witnessed in the hexylene glycol market?
What are some of the underlying macro-economic and industry factors impacting the growth of the hexylene glycol market?
What are the key challenges, opportunities and improvement factors for hexylene glycol market players?
What are some of the market positioning and key strategies of key manufacturers as per market taxonomy?
How is the competition structured and how has it evolved in the hexylene glycol market over the past few years?
This FMI study offers a ten-year analysis and forecast for the global hexylene glycol market between 2018 and 2028. The study considers 2017 as the base year with hexylene glycol market values estimated for the year 2018 and forecast developed for the duration between 2018 and 2028. Compound Average Growth Rate (CAGR) has been represented from 2018 to 2028. This Hexylene glycol study covers various perspectives of the market, including market dynamics, value chain, pricing analysis, competition analysis, regional and segmental growth comparison and macro-economic and industry growth analysis, along with segment level projections in a comprehensive manner. As per the findings of the hexylene glycol study and perspectives of industry participants, the global hexylene glycol market is projected to grow at a CAGR of 3.3% between 2018 and 2028, in terms of value. Growing environmental concerns, supportive policy framework and reasonable cost of operations are some of the factors positively impacting the uptake of the hexylene glycol in the global market.
This Future Market Insights report on hexylene glycol carefully analyses the market at a global and regional level through market segmentation on the basis of key parameters, such as grade, application and end users. The primary objective of the Hexylene glycol report is to offer key insights on market updates, competition positioning, current trends, market potential, growth rates and other relevant information and statistics in a suitable manner to the readers or various stakeholders in the hexylene glycol market.
Hexylene glycol is a viscous and colourless liquid with a mild sweet odour. It is an oxygenated solvent derived from di-acetone alcohol which has two alcohol functions. Hexylene glycol has low evaporation rate and on the basis of miscibility, it is completely dissolvable in water.
This hexylene glycol report is structured to allow the readers to develop a thorough understanding of the Hexylene glycol market. This Hexylene glycol report begins with market definitions, which are followed by the market background, market dynamics and market analysis by key segments, regional analysis and competition landscape. Each section covers a qualitative and quantitative assessment of the hexylene glycol market on the basis of facts, historical developments and key opinions collected from industry participants through dedicated interviews and trends in the market.
Hexylene Glycol Market: Segmentation
The hexylene glycol report begins with a market introduction, which defines the market taxonomy and product definitions with respect to the global hexylene glycol market. In the next section, the hexylene glycol report describes the market development background, macro-economic factors, industry factors, product life stage and associated stages, forecast factors, regional weighted average pricing analysis and value chain overview covering approximate margins. This section of the Hexylene glycol market report also provides an indicative list of stakeholders involved in each stage of hexylene glycol for the base year considered for the study.
The next section of the hexylene glycol report discusses market dynamics, such as drivers (supply and demand side), restraints and trends, impacting the market growth at a global level. Market opportunities or potential for manufacturers have been presented in the subsequent section of the same chapter. This section also includes the impact assessment of market dynamics on the global hexylene glycol market at a qualitative level based on analysis facts and insights.
Subsequent sections of the report provide value (US$ Mn) and volume (Tons) projections for the hexylene glycol market for the aforementioned segments at a global level. The global market values represented in these section have been agglomerated by collecting data and information at a regional level. The hexylene glycol market information, along with key facts and insights, covers unique analysis frameworks, such as absolute $ opportunity analysis, year-on-year growth trend comparison, market share and attractiveness analysis for each of the types covered in each segment.
The next section of the report presents a summarised view of the global hexylene glycol market based on seven prominent regions considered in the study. The section includes the regional market position, growth potential, trends and market attractiveness analysis for each of these regions.
This hexylene glycol market analysis sections cover regional trends, weighted average pricing analysis and market projections for each segment, including Y-o-Y growth trends, market share analysis, market attractiveness and incremental $ opportunity assessment. These sections analyse the degree to which the global drivers are influencing this market in each region.
All the above sections evaluate the present market scenario and growth prospects in the global hexylene glycol market while the forecast presented in these sections assesses the market size in terms of volume and value.
In order to offer an accurate forecast, we started by sizing the current market, which forms the basis of how the global hexylene glycol market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome of three different types of analysis, based on primary research, secondary research and our own analysis. However, forecasting the hexylene glycol market in terms of various hexylene glycol segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the completion of the forecast exercise.
In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecast in terms of CAGR but also analyse the market on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of a market and identify the right opportunities available.
As previously highlighted, the hexylene glycol market is split into a number of segments. All the hexylene glycol segments, in terms of grade, application, end user and region, have been analysed on the basis of Basis Point Share (BPS) to understand each individual segment’s relative contribution to the market growth. This detailed level of information is important for the identification of various key trends witnessed in the hexylene glycol market.
Another key feature of this report is the analysis of all the key segments in the hexylene glycol market, segments and the regional adoption and revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market; however, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to identify potential resources from a sales and delivery perspective in the hexylene glycol market.
In order to understand the key market segments in terms of the growth and installation of hexylene glycol across concerned regions, Future Market Insights has developed the attractiveness index, which will help providers to identify real market opportunities.
In the final section of the report, a competitive landscape of the hexylene glycol market has been included to provide report audiences with a dashboard view categorised on the basis of providers present in the value chain, their presence in the hexylene glycol market and key differentiating factors and strategies. The primary category of providers covered in the report include hexylene glycol manufacturers. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the hexylene glycol market. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors on the basis of in-depth assessment of their capabilities and success in the hexylene glycol marketplace. Detailed profiles of providers have also been included under the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the Hexylene glycol market. Some of the key competitors covered in this Hexylene glycol report include BASF SE, SOLVAY S.A, DowDupont, Arkema Group, Solventis Ltd, Monument Chemicals, Inc., Lonza Group, Lanxess, FINAR LIMITED, Prasol chemicals Ltd.
Hexylene Glycol Market Reports - Table of Contents
19. Research Methodology
20. Assumptions & Acronyms Used