The global hexylene glycol market is estimated to register a CAGR of 2.90% during the forecast period. The global market is likely to secure a valuation of USD 208.6 million in 2024 and reach USD 277.63 million by 2034.
| Attributes | Details |
|---|---|
| Hexylene Glycol Market Size, 2024 | USD 208.6 million |
| Hexylene Glycol Market Size, 2034 | USD 277.63 million |
| Value-based CAGR from 2024 to 2034 | 2.90% |
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Several factors significantly boost the global market. A few of these factors are as follows:
Versatile Products:The increasing demand for hexylene glycol among diverse industries such as personal care products, industrial processes, paints & coatings is driving the market growth.
Cosmetic Industry: The increasing use of hexylene glycol in skin and hair products such as shampoo, cream, and lotions drives the market. These products enhance skin routine and strengthen hair, enhancing market demand.
Chemical Processing: Various chemical and industrial processing methods are increasing the adoption of hexylene glycol to develop solvents and valuable agents.
Economic Growth: Emerging economies, rising urbanization, and expanding cosmetic industry are surging the demand for hexylene glycol. The rising demand for consumer goods such as paints and dyes is raising the adoption of hexylene glycol.
Growing Awareness and Health Concerns: Increasing demand for personal products, safety, and mild ingredients is raising the adoption of hexylene glycol.
Product Innovation: Growing research and development activities are developing innovative products with new formulations, stimulating the demand for hexylene glycol.
Regulations: The rising demand for hexylene glycol with safety regulations is expanding the market size.
Agricultural Sector: The growing agriculture sector is increasing the demand for hexylene glycol for pesticides and herbicides, gaining vast traction in the global market.
There are several factors affecting the global market growth. A few of these are as follows:
Competition: Rising competition among critical players hinders global market growth due to increasing prices. The changing consumer demand for cheaper substitutes restricts the market. Manufacturers are also facing price fluctuations due to a lack of profitability, which may decrease the demand for hexylene glycol.
Supply Chain Disruptions: Pandemics like COVID-19, natural calamities, global tensions, and transportation issues heavily impact global market growth.
Market Saturation: Manufacturers face challenges due to saturation, which may limit their market share. Changing regulations, distributions, and consumer preferences are expected to decline market growth.
Economic Downfall: Currency exchange, trade policies, inflation, etc., negatively impact the global market.
Health Concerns: Side effects due to chemical ingredients and the rising public awareness about health may restrain the global market revenue.
Principal Consultant
The global hexylene glycol market grew steadily, with a valuation of USD 202.8 million in 2023. Rising consumer demand for skin care products and healthy hair are expanding the cosmetic sector. The growing consumer awareness, innovations, and product launches among manufacturers are bringing lucrative opportunities to the market.
| Historical Market Valuation, 2023 | USD 202.8 million |
|---|
In 2023, the rising chemical industries, paints & coatings sector, and other processing industries contributed to the global market revenue. Manufacturers offered cost-effective and suitable products to capture their attention during the historical period. These players are heavily investing in research and development activities to fuel the global market revenue over the forecast period.
| Countries | CAGR from 2024 to 2034 |
|---|---|
| United States | 3.50% |
| Canada | 1.80% |
| Germany | 4.0% |
| United Kingdom | 2.20% |
| Italy | 3.20% |
| France | 3.20% |
| Spain | 2.90% |
| China | 2.20% |
| India | 3.60% |
| Japan | 3.30% |
| South Korea | 2.90% |
| Thailand | 2.20% |
The United States market is estimated to capture a CAGR of 5.50% during the forecast period. Increasing demand from paints, cosmetics, pharmaceuticals, and industrial processes is raising the adoption of hexylene glycol. The increasing need for coupling agents, solvents, and other mixes is expanding the adoption of hexylene glycol.
The rapidly surging cosmetic sector is increasing the adoption of hexylene glycol for manufacturing lotions, hair products, and skin creams. Consumers prefer safe, suitable, and non-toxic ingredients for personal care, driving the United States hexylene glycol market size.
The market in Germany is estimated to capture a CAGR of 4.90% over the forecast period. Increasing chemical and industrial processing is rapidly surging the demand for hexylene glycol, boosting the German market. Consumers' demand for high-quality, valuable, and cost-effective products in the cosmetic industry is driving Germany's hexylene glycol market.
Increasing global trade, competition among essential players, and collaborations are raising the adoption of hexylene glycol in the country. Germany is focused on sustainability and eco-friendly products to reduce carbon footprints by investing in green practices. The government’s strict regulations promote the development of safe and reliable products to meet end users' demands.
The market in Japan is projected to progress at a CAGR of 4.80% during the forecast period. The increasing chemical sector, industrial processes, and cosmetic industry are surging the adoption of hexylene glycol in Japan. Japan is rich in skincare culture, increasing the demand for hexylene glycol for manufacturing creams, lotions, oils, and face wash.
The rising popularity of sustainability and eco-friendly practices is surging the adoption of hexylene glycol in Japan. Japan’s focus on technology and innovation promotes unique ideas through research activities to offer suitable and less hazardous hexylene glycol products.
The market in China is estimated to secure a CAGR of 6.30% during the forecast period. The increasing demand for versatile compounds in manufacturing processes is surging the adoption of hexylene glycol. China has a vast cosmetic industry that enhances beauty products with the adoption of hexylene glycol.
The rapidly growing eCommerce industry, high-quality cosmetics, and distribution networks are raising the demand for hexylene glycol in China. Rising end-use sectors such as pharmaceutical, medical, cosmetic, and chemical are gaining popularity by adopting hexylene glycol. Key players are adopting various strategies to develop innovative, cost-effective products to uplift China's hexylene glycol market.
The market in Thailand is estimated to grow at a CAGR of 6.60% over the forecast period. Thailand is home to the chemical industry and widely prefers hexylene glycol for processing and developing chemical solvents, fueling the market growth. Increasing key players, new launches, and innovations in research institutions are surging the adoption of hexylene glycol.
Rising demand for safe ingredients, personal grooming, etc., is expanding Thailand's hexylene glycol market. Rapidly growing demand for hexylene glycol in the food & beverages sector for ready-to-eat items and convenient products increases global market revenue. Manufacturers are seeking product quality by increasing the adoption of sustainable practices, driving the market size.
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| Top Grade | Industrial |
|---|---|
| Market Share | 75.1% |
Based on grade, the industrial segment leads the global market by capturing a share of 75.1%. Increasing demand for manufacturing products among various industries is surging the adoption of hexylene glycol. Several sectors are contributing to the market for hexylene glycol for making coupling agents, solvents, and humectants, including adhesives and coatings.
Key players produce cost-effective products through manufacturing processes to satisfy end users' requirements. Industries drive the demand for improved and high-purity grades, driving market growth. The increasing consumption of vast quantities of hexylene glycol, heavily used for processing chemicals, is fueling the market share.
| Top End-use | Paints and Coatings |
|---|---|
| Market Share | 60% |
Based on end use, paints and coatings are estimated to dominate the global market by registering a share of 60%. Increasing demand for versatile solvents, smooth coating, and consistency are raising the adoption of hexylene glycol. Manufacturers are enhancing the performance of paints and coatings by developing high-quality and water-resistant coatings with long durability.
Paints & coatings are widely preferred among several end users, such as automotive, buildings, and industrial coatings, to improve their properties. These advanced and innovative coatings enhance end users' experiences, boosting market growth. On the other hand, growing urbanization, construction activities, and the trend of aesthetic look of residential complexes are pivotal factors driving the global market.
Manufacturers offer low-chemical and eco-friendly paints and coatings to reduce carbon emissions. Growing infrastructure projects and the demand for long-lasting protection are surging sales of paints and coatings.
The global hexylene glycol market is highly consolidated by the presence of prominent players that significantly develop high-quality products to attract end users. They are focused on end users' requirements and building trust by enabling product transparency. Key players heavily invest in research and development to carry out new and brilliant ideas, leading to market expansion.
Recent Developments in the Global Hexylene Glycol Market
The hexylene glycol market is estimated to secure a valuation of USD 208.6 million in 2024.
The United States is leading the market for hexylene glycol.
The hexylene glycol market is likely to capture a CAGR of 2.90% in 2034.
The growing focus on sustainability and reducing carbon emissions.
BASF SE and Lonza Group are the key players in the global hexylene glycol market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2022 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2022 and Forecast 2024 to 2034, By Grade 5.1. Pharmaceuticals 5.2. Industrial 6. Global Market Analysis 2019 to 2022 and Forecast 2024 to 2034, By End Use 6.1. Construction 6.1.1. Adhesives 6.1.2. Concrete Additives 6.2. Drug 6.2.1. Pharma Excipients 6.2.2. Formulating Agent 6.3. Paints & Coatings 6.4. Chemicals 6.5. Leather & Textile 6.6. Oil & Gas 6.7. Others 7. Global Market Analysis 2019 to 2022 and Forecast 2024 to 2034, By Application 7.1. Solvent 7.2. Chemical Intermediate 7.3. Antifreeze 7.4. Others 8. Global Market Analysis 2019 to 2022 and Forecast 2024 to 2034, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2019 to 2022 and Forecast 2024 to 2034, By Country 10. Latin America Market Analysis 2019 to 2022 and Forecast 2024 to 2034, By Country 11. Western Europe Market Analysis 2019 to 2022 and Forecast 2024 to 2034, By Country 12. Eastern Europe Market Analysis 2019 to 2022 and Forecast 2024 to 2034, By Country 13. South Asia and Pacific Market Analysis 2019 to 2022 and Forecast 2024 to 2034, By Country 14. East Asia Market Analysis 2019 to 2022 and Forecast 2024 to 2034, By Country 15. Middle East and Africa Market Analysis 2019 to 2022 and Forecast 2024 to 2034, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Arkema Group 18.2. Solventis Ltd. 18.3. SOLVAY S.A. 18.4. Monument Chemicals,Inc. 18.5. DowDupont 18.6. BASF SE 18.7. Lonza Group 18.8. FINAR LIMITED 18.9. LANXESS 18.10. Praasol Chemicals Ltd 19. Assumptions & Acronyms Used 20. Research Methodology
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Hexylene Glycol Market
