Market Research Future (MRFR) has published a cooked research report on the “Global Hexyl Acetate Market” that contains information from 2018 to 2032. The hexyl acetate market is estimated to register a CAGR of 4.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global hexyl acetate market— Lluch Essence, International Flavors＆Fragrances, Elan, Bontoux, Beijing Lys Chemicals, Augustus Oils, Apiscent Labs, Alfrebro, Advanced Biotech, RX Marine International, Nimble Technologies, Zhejiang NetSun,Novaphene, Merck KGaA, Ungerer & Company, Elan Chemical Company, among others and others.
The global hexyl acetate market is accounted to register a CAGR of 4.50% during the forecast period and is estimated to reach USD 0.133 Billion by 2032.
The number of green hydrogen projects is growing as more nations focus their investments on the development of a hydrogen-based economy. The potential for longer-term reuse of carbon-free hydrogen in the production of Hexyl acetate is anticipated to grow as a result of investments in hydrogen infrastructure. Additionally, the move towards zero-carbon through decarbonization is anticipated to spur the use of Hexyl acetate, which is anticipated to promote the growth of the global Hexyl acetate market.
The global hexyl acetate market has been segmented based type and application.
On the basis of type, the market is segmented into catalyzed reactive distillation synthesis and lipase catalyzed ester synthesis. The catalyzed reactive distillation synthesis segment dominated the market in 2022. Due to the simultaneous nature of the reaction and separation, catalyzed reactive distillation can provide higher yields of hexyl acetate and higher levels of purity.
Based on application, the global hexyl acetate market has been segmented into cosmetic, food and beverage and other. The food and beverage category generated the most income in 2022. Products with natural and clean labelling for food and beverages are more popular.
The global hexyl acetate market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Hexyl acetate market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Hexyl acetate market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Hexyl acetate market comprises of Middle East, Africa, and Latin America.
The North America hexyl acetate market dominated this market in 2022 (45.80%). The handmade and one-of-a-kind commodities are the focus of the burgeoning North American craft beverage and food industry. Due to its capacity to add distinctive fruity flavors to craft beers, spirits, and specialty foods, hexyl acetate is in high demand in this industry.
Moreover, the second-largest market share belongs to Europe. Food and beverage goods in Europe are exported in significant quantities. Hexyl acetate usage in these products may have an impact on both domestic and global demand.
Additionally, the Asia-Pacific hexyl acetate market is expected to grow at the fastest CAGR from 2023 to 2032. People in the Asia-Pacific region are becoming more adventurous with their palates, which has increased the need for a greater diversity of flavors in meals and beverages. Hexyl acetate can be used to create novel and alluring flavors.
Furthermore, the rest of the world's hexyl acetate market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's rising use of electric vehicles and hydrogen production research and development. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.
Key Findings of the Study