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.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
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.
ExxonMobil launched Exceed™ S performance polyethylene (PE) resins in April 2022 that offer superlative combinations of stiffness and toughness alongside ease of processing. These leverage-on-the-company’s latest polymer science improvements towards simplifying film formulations and designs whilst enhancing performance, converting efficiency, and packaging durability.
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.
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)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
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)
Source: 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.
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.
Shell
INEOS
Sabic
Sasol
Sinopec
Mitsui Chemicals
Idemitsu Kosan
Production began in January 2024 at SABIC and ExxonMobil’s Gulf Coast Growth Ventures (GCGV) joint venture on a new petrochemical facility in San Patricio County, Texas. The facility features an ethane steam cracker with world-class dimensions expected to manufacture ethylene, polyethylene, as well as other derivatives such as hexene. This collaboration aims to meet the increasing global demand for these materials.
ExxonMobil announced merger with Pioneer Natural Resources worth $59.5 billion in October 2023. This merger is seen to significantly strengthen ExxonMobil’s upstream portfolio, especially in Permian Basin, which will indirectly benefit its Downstream product line, including hexene. The merger is aligned with the aim of attaining net zero greenhouse gas emissions from its unconventional Permian operations by 2030.
LyondellBasell and KIRKBI A/S entered into a partnership agreement in February 2023 to invest in APK, a company focused on solvent-based recycling technology of LDPE. This investment underscores both the firm’s environment commitment and advances toward a sustainable tomorrow while also reflecting growing interest around the world in circular economy initiatives.
Braskem introduced a novel high-density polyethylene – HD1954M in August 2021 that brings together excellent stiffness, excellent impact resistance and even environmental stress cracking (ESCR) resistance to raise packaging productivity and efficiency.
Polyethylene Production
Heptanol Production
Flavors
Perfumes
Dyes
Resin
Paper Industry
Consumer Goods
Chemical Industry
Automotive Industry
Packaging Industry
Cosmetics & Pharmaceuticals Industry
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.135 Billion |
| Market Size 2023 | USD 0.142 Billion |
| Market Size 2032 | USD 0.220 Billion |
| Compound Annual Growth Rate (CAGR) | 5.60% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Chevron Phillips Chemical, Shell, INEOS, Sabic, Sasol, Sinopec, Mitsui Chemicals and Idemitsu Kosan. |
| Key Market Opportunities | Rising Automotive Production. |
| Key Market Dynamics | The availability and cost of feedstock materials. |
1 Hexene Market Highlights:
Frequently Asked Questions (FAQ) :
The 1-hexene market size was valued at USD 0.135 Billion in 2022.
The market is projected to grow at a CAGR of 5.60% during the forecast period, 2023-2032.
Asia-Pacific had the largest share in the market
The key players in the market are Chevron Phillips Chemical, Shell, INEOS, Sabic, Sasol, Sinopec, Mitsui Chemicals and Idemitsu Kosan
The Polyethylene Production category dominated the market in 2022.
The Chemical Industry had the largest share in the market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
