How Will the Russia-Ukraine War Affect N-Hexyl Alcohol Market ?
The n-hexyl alcohol market size is expected to rise because of the increased expenditure on lifestyle and personal care products. Fortune Business InsightsTM has presented this information in its upcoming report titled, “N-Hexyl Alcohol Market, 2021-2028”. N-Hexyl alcohol, commonly known as 1-Hexanol, is a condensed chemical molecule having a six-carbon chain. It is often used in the production of perfumes. It is commercially produced through the oligomerization of ethylene with triethylaluminum, followed by the oxidation of the alkyl aluminum products.
COVID-19 Impact –
The outbreak of COVID-19 influenced several businesses. The pandemic’s impact has created a few new business opportunities for the n-hexyl alcohol industry. Travel bans, flight cancellations, and quarantines significantly slowed supply chains and resulted in hampering the world economy. Furthermore, a growing sense of panic within the population, the falling of businesses around the globe, the unpredictability of stock markets, and uncertainty in the future affected every individual’s lifestyle. Lastly, lockdowns imposed in multiple regions caused discrepancies and adversely affected supply chains and distribution, ultimately affecting the industry as a whole.
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On the basis of application, the market is divided into lubricant additive, plasticizer precursor, odor agent, chemical intermediate, inert ingredient, and others. On the basis of end-user, the market is fragmented into food & beverages, chemical, personal care, and pharmaceuticals. Geographically, the market is classified into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa,
Report Coverage –
The report examines the global n-hexyl alcohol market growth, market size, market share, and market segment scope on a regional basis. Competitive landscape, value chain optimization, trade processes, current advancements, and identifiable outcomes of global market businesses are all included in the research. Product releases, prospective analysis, strategic market development analysis, area marketplace expansion, and industrial revolutions of top key competitors are all included in the research, as well as the impact of COVID-19 on the industry.
Drivers & Restraints –
Rising Demand for Personal Hygiene Products to Drive the Market
Since consumers have become more aware of personal hygiene and care, as well as their willingness to spend on lifestyles, the need for personal care products has increased. Furthermore, increasing demand for n-hexyl alcohol, which is widely used for aroma in body lotions, shampoos, perfumes, and other items is boosting demand for the product. Furthermore, strong demand from the pharmaceutical industry is expected to drive market expansion. However, the market expansion is projected to be hampered by the availability of numerous alternatives such as n-undecanol, n-Octanol, n-decanol, and n-nonanol.
Regional Insights –
North America to Witness Exponential Growth Owing to the Expanding Pharmaceutical Industry
Asia Pacific is likely to hold the greatest n-hexyl alcohol market share because of the rising demand for personal care products. North America is expected to show noteworthy growth; the growth is attributable to the expanding pharmaceutical industry. Europe is predicted to rise significantly, owing to the rising demand for personal care products. Furthermore, by the end of the projected period, Latin America and the Middle East, and Africa would be experiencing slow development.
Key Players to Focus on Extending their Production Capacities
The n-hexyl alcohol industry is highly fragmented. The majority of the prominent players are extending their production capacities in order to get a competitive advantage over their competitors. Nanjing Chemical Material, Ecogreen Oleochemicals, Sasol, Alfa Aesar, Haihang Industry, Simagchem Corporation, Yancheng Hongtai Bioengineering, Merck, and Penta International are among the leading competitors in the market.
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List of Key Players in the Market:
- ShanDong Fine Chemical Co.
- Alfa Aesar
- Yancheng Hongtai Bioengineering
- Ecogreen Oleochemicals
- Penta International
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