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1 Hexene Market Trends

ID: MRFR//7820-HCR | 128 Pages | Author: Anshula Mandaokar| July 2024

Global 1-Hexene Market Overview

1-Hexene Market Size was valued at USD 0.135 Billion in 2022. The 1-hexene industry is projected to grow from USD 0.142 Billion in 2023 to USD 0.220 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.60% during the forecast period (2023 - 2032). Constant demand in the edible oil sector, expanding petrochemical industry demand, use is expanding in the pharmaceutical sector, emerging uses in the coatings and electronics sectors, growing polyethylene demand, increasing plastics demand, are the key market drivers enhancing the market growth.1 Hexene Market OverviewSource: Secondary Research, Primary Research, MRFR Database and Analyst Review

1-Hexene Market Trends

  • Constant demand in the edible oil sector is driving the market growth

An important factor driving the 1-hexene market ahead is the ongoing need in the edible oil industry. The worldwide food industry's primary ingredient, edible oil, is essential to human nutrition. It is a major source of vital fatty acids and is used for cooking in countless homes all over the world. The manufacture of 1-hexene, a necessary feedstock for the production of linear low-density polyethylene (LLDPE) and other plastics used in packaging, among other applications, is significantly impacted by the consistent and expanding demand for edible oil.

The manufacturing of metallocene-based LLDPE, which has become popular due to its exceptional qualities, such as high tensile strength, flexibility, and impact resistance, depends heavily on 1-hexene. These characteristics make LLDPE a great material to use when creating pouches, wraps, and other types of containers for food packing. High-quality and secure packing materials are becoming more and more necessary as the edible oil industry continues to encounter constant demand.

The world's expanding population is one of the main causes of the ongoing demand in the edible oil industry. Food, including cooking oils, are becoming more and more necessary as the world's population rises. Consumption of edible oils is also influenced by dietary habits and a move toward healthier cooking techniques like stir-frying and sautéing. These oils are utilized in a variety of food products, from baked pastries to salad dressings, in addition to being used in cooking.

The demand for edible oils has increased dramatically as a result of the growth of the food processing sector. Various types of oils are frequently used in processed foods for flavor, texture, and preservation. This pattern has raised the demand for the manufacture of edible oils, which has a domino effect on the demand for 1-hexene.

The rising level of consumer health consciousness is another element influencing the ongoing need for edible oils. As a result of their higher proportions of monounsaturated and polyunsaturated fats and lower levels of saturated fat, certain edible oils, including olive oil and some vegetable oils, are viewed as healthier options. These oils are used as dietary supplements as well as in salad dressings and cooking. The market for such oils is continuing to grow as people become more health-conscious, which adds to the demand for 1-hexene-based packaging materials for these products. Thus, driving the 1-hexene market revenue.

1-Hexene Market Segment Insights

1-hexene Application Insights

The 1-hexene market segmentation, based on application, includes polyethylene production, heptanol production, flavors, perfumes, dyes and resin. The polyethylene production segment dominated the market in 2022. Numerous construction-related products, including pipelines, wires, and insulation materials, employ polyethylene. Expanding construction projects, particularly in metropolitan regions and emerging economies, support rising 1-hexene and polyethylene demand.

1-hexene End User Insights

The 1-hexene market segmentation, based on end user, includes paper industry, consumer goods, chemical industry, automotive industry, packaging industry and cosmetics & pharmaceuticals industry. The chemical industry category generated the most income in 2022. In the chemical industry, the manufacture of linear low-density polyethylene (LLDPE) significantly depends on 1-hexene as a co-monomer. A flexible polymer called LLDPE is used to make plastic goods like packaging films, containers, and pipes. Need for LLDPE, which drives the need for 1-hexene, is closely related to the expansion of the chemical sector.

Figure 1: 1-Hexene Market, by end user, 2022 & 2032 (USD Billion)1-Hexene Market, by end user, 2022 & 2032Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

1-hexene Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia-Pacific 1-Hexene Market dominated this market in 2022 (45.80%). The primary force behind 1-hexene market expansion is the Asia-Pacific region, notably in nations like China and India. Rapid urbanization and industrialization in the area have raised demand for consumer items, the building of infrastructure, and building supplies. Due to the rising demand for 1-hexene in the Asia-Pacific region, flexible polymers are required for manufacturing, packaging, and building. These 1-hexene-derived polymers play a crucial role in sustaining the region's expanding economies. Moreover, China’s 1-hexene market held the largest market share, and the Indian 1-hexene market was the fastest growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: 1-HEXENE MARKET SHARE BY REGION 2022 (USD Billion)1-HEXENE MARKET SHARE BY REGION 2022Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe 1-hexene market accounts for the second-largest market share. Europe has been at the forefront of sustainability and environmental protection initiatives because of its strict environmental regulations. These laws promote the use of plastics that are recyclable and safe for the environment. The necessity to develop more environmentally friendly plastics in order to abide by these strict laws is driving the demand for 1-hexene in Europe. Manufacturers are driven to investigate and use polymers based on 1-hexene that have a smaller environmental impact. Further, the German 1-hexene market held the largest market share, and the UK 1-hexene market was the fastest growing market in the European region.

The North America 1-Hexene Market is expected to grow at the fastest CAGR from 2023 to 2032. The shale gas boom, particularly in the United States, is driving the 1-hexene industry in North America. The region's chemical sector has been considerably impacted by the discovery and utilization of huge shale gas reserves. Shale gas, a plentiful source of ethylene, is an essential feedstock used to make 1-hexene. The availability of cheap and plentiful shale gas is the cause of the rising 1-hexene demand in North America. This has made it possible for chemical businesses to set up production facilities that are competitive. Further, the U.S. 1-hexene market held the largest market share, and the Canada 1-hexene market was the fastest growing market in the North America region.

1-hexene Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the 1-hexene market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, 1-hexene industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the 1-hexene industry to benefit clients and increase the market sector. In recent years, the 1-hexene industry has offered some of the most significant advantages to medicine. Major players in the 1-hexene market, including Chevron Phillips Chemical, Shell, INEOS, Sabic, Sasol, Sinopec, Mitsui Chemicals and Idemitsu Kosan and others, are attempting to increase market demand by investing in research and development operations.

The Chevron Phillips Chemical Co LLC (CPChem) is a partnership between Phillips 66 and the Chevron Corporation. Olefins and polyolefins are produced, and the company also sells alpha olefins, styrenics, aromatics, specialized chemicals, pipes, and exclusive plastics. The business provides a full range of chemical services and solutions. Oil and gas, agriculture, appliances, cars, buildings and construction, dry cleaning, electronics, healthcare and medical, home, industrial, pharmaceuticals, plastics, rubber, and textiles are just a few of the industries that CPChem supports. It runs production facilities in the US, Saudi Arabia, Singapore, Qatar, and Belgium through joint venture partners. The business has operations in Europe, Asia, the Middle East, North America, and South America. The Woodlands, Texas, in the US, is home to CPChem's headquarters.

Royal Dutch Shell Plc was the previous name of an integrated oil and gas company called Shell plc (commonly referred to as Shell). The corporation searches for and extracts oil and gas from conventional fields and sources, such as tight rock, shale, and coal formations. It manages refinery and petrochemical facilities all around the world. Shell's product line includes lubricants, bitumen, liquefied petroleum gas, and petrochemical goods such raw materials for plastics, paints, and detergents. The company is a big producer of biofuel in Brazil. Additionally, the business has investments in a number of LNG and GTL projects. The firm offers its products both directly and indirectly through distributors in Europe, Asia, Oceania, Africa, North America, and South America. Shell's headquarters are located in London, England.

Key Companies in the 1-hexene market include

1-hexene Industry Developments

March 2022: The completion of the previously planned merger between Phillips 66 Partners and Phillips 66 was announced by Phillips 66. All limited partnership shares in PSXP that were not previously owned by Phillips 66 and its affiliates were acquired by Phillips 66 as a result of the merger.

1-Hexene Market Segmentation

1-hexene Application Outlook

  • Polyethylene Production

  • Heptanol Production

  • Flavors

  • Perfumes

  • Dyes

  • Resin

1-hexene End User Outlook

  • Paper Industry

  • Consumer Goods

  • Chemical Industry

  • Automotive Industry

  • Packaging Industry

  • Cosmetics & Pharmaceuticals Industry

1-hexene Regional Outlook

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Rest of Europe

  • Asia-Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Middle East & Africa

    • Saudi Arabia

    • Qatar

    • UAE

    • Rest of Middle East & Africa

  • South America

    • Brazil

    • Argentina

    • Rest of South America


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