The Hexylene Glycol Market Size was estimated at 2.51 (USD Billion) in 2022. The Hexylene Glycol Industry is expected to grow from 2.6(USD Billion) in 2023 to 3.6 (USD Billion) by 2032. The Hexylene Glycol Market CAGR (growth rate) is expected to be around 3.68% during the forecast period (2024 - 2032).
Key Hexylene Glycol Market Trends Highlighted
The hexylene glycol market is poised for steady growth in the coming years, driven by its increasing usage in various industrial and consumer applications. The demand for hexylene glycol is primarily attributed to its diverse properties, such as its high boiling point, low volatility, and excellent solvent characteristics. As a result, it is widely employed in the manufacturing of paints, coatings, printing inks, and adhesives. Furthermore, the growing adoption of hexylene glycol in the production of personal care products, such as cosmetics, toiletries, and fragrances, is further contributing to market expansion.
Key market drivers include the burgeoning construction industry, rising consumer spending on personal care products, and stringent environmental regulations favoring the use of bio-based chemicals. Moreover, the increasing awareness of hexylene glycol's safety and efficacy compared to traditional solvents presents significant opportunities for market growth. Recent trends in the hexylene glycol market include the development of bio-based alternatives, the adoption of sustainable production processes, and the emergence of new applications in the pharmaceutical and automotive industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Hexylene Glycol Market Drivers
Rising Demand from the Automotive Industry
Various applications of hexylene glycol across different industries are major driving factors for its market growth. The utilization of this chemical in the production of brake fluids, antifreeze, and coolants accounts for a significant market share, as the automotive industry is one of the largest consumers of hexylene glycol. The increased popularity and demand for automobiles, especially in the developing part of the world, have determined the expected growth of the market in the next five years.The emergent production of electric vehicles also requires specific coolants and brake fluids, which contribute to growth rates. Furthermore, the greases and lubricants known for high performance are also made with this material as base fluid.
Increasing Use in Personal Care and Cosmetics
Hexylene glycol is used in a broad portfolio of applications in the personal care and cosmetic segment, such as skin creams, lotions, shampoos, and conditioners. Its humectant property helps skin to remain hydrated and eliminates dryness. Moreover, with the trend of natural and organic personal care products, the hexylene glycols market is expected to grow in this segment. Its inclusion in the cosmetic segment as a preservative is also popularizing, which is another factor driving the.
Expanding Applications in Industrial and Institutional Cleaning
Hexylene glycol is an efficient solvent and cleaning agent with various uses in industrial and institutional cleaning. In addition to being a safe and effective cleaner, it is generally used to get rid of any sort of contamination. It is a perfect agent for those cleaning applications where the surface to be cleaned is sensitive to harsh chemicals or can be easily damaged, such as electronic equipment, medical instruments, and so forth. The hexylene glycol market is anticipated to prosper as demand for eco-friendly cleaning solutions rises.One of the most crucial variables for the development of the hexylene glycol market in this region is the expansion of the detergents and household cleaners market.
Hexylene Glycol Market Segment Insights
Hexylene Glycol Market Product Grade Insights
Introduction This report focuses on the Hexylene Glycol Market. Hexylene glycol is a clear, colorless, oily liquid with a mild odor. It is a high boiling point liquid that is miscible with water, acetone, benzene, ethanol, ethyl ether, chloroform, and tetrachloroethene. Hexylene glycol is used in a variety of industrial, pharmaceutical, and cosmetic applications. The Hexylene Glycol Market is segmented by product grade and end-use industry. Product Overview The Hexylene Glycol Market is segmented by product grade into industrial grade, pharmaceutical grade, and cosmetic grade.Industrial-grade hexylene glycol is the most widely used grade, accounting for over 60% of the market in 2023. It is used in a variety of industrial applications, including as a solvent, cleaner, and defoamer. Pharmaceutical-grade hexylene glycol is used in the production of pharmaceuticals and personal care products. The growth of the market is being driven by the increasing demand for hexylene glycol from the pharmaceutical and cosmetic industries. The pharmaceutical industry is using hexylene glycol as a solvent and excipient in the production of drugs and vaccines.The cosmetic industry is using hexylene glycol as a humectant and emollient in the production of skincare products, hair care products, and makeup. End-Use Industry Overview The industrial-grade hexylene glycol segment is expected to continue to dominate the Hexylene Glycol Market over the forecast period. The growth of the segment is being driven by the increasing demand for hexylene glycol from the automotive and construction industries. The automotive industry is using hexylene glycol as a brake fluid and coolant. The construction industry is using hexylene glycol as a plasticizer and defoamer.The pharmaceutical-grade hexylene glycol segment is expected to grow at a faster rate than the industrial-grade hexylene glycol segment over the forecast period. The growth of the segment is being driven by the increasing demand for hexylene glycol from the pharmaceutical industry. The pharmaceutical industry uses hexylene glycol as a solvent and as an excipient in the production of drugs and vaccines. The cosmetic grade hexylene glycol segment is expected to grow at a steady rate over the forecast period. The growth of the segment is being driven by the increasing demand for hexylene glycol from the cosmetic industry.The cosmetic industry is using hexylene glycol as a humectant and emollient in the production of skincare products, hair care products, and makeup.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Hexylene Glycol Market Application Insights
The Hexylene Glycol Market is segmented by Application as Plasticizers, Solvents, Cosmetics, Personal care products and Pharmaceuticals. The Plasticizers segment is expected to hold the largest share in 2023 as the product has been highly used in the production of flexible plastics such as PVC and polyurethane. Solvents are another major application segment as the product is being increasingly adopted as a solvent in paints, coatings, and adhesives. The cosmetics and personal care products segment is expected to grow substantially as the product is increasingly used in these applications as a humectant and emollient in skin care and hair care.The Pharmaceuticals segment is expected to grow stable as the demand for hexylene glycol as an excipient in drug formulation increases.
Hexylene Glycol Market End Use Industry Insights
The End Use Industry segment plays a significant role in shaping the Hexylene Glycol Market. In 2023, the Automotive industry held the largest market share, driven by the increasing demand for lightweight and fuel-efficient vehicles. The Construction industry is projected to exhibit steady growth over the forecast period, owing to the rising urbanization and infrastructure development activities. The Electronics industry is expected to witness significant growth, fueled by the growing demand for electronic devices and components. The Packaging industry is anticipated to contribute to the market growth due to the increasing use of Hexylene Glycol as a solvent and plasticizer in packaging materials.The Healthcare industry is expected to provide lucrative growth opportunities for Hexylene Glycol Market players, driven by the rising demand for personal care products and pharmaceuticals.
Hexylene Glycol Market Regional Insights
The regional segmentation of the Hexylene Glycol Market presents a diverse landscape with varying market dynamics and growth prospects. North America held the largest market share in 2023 and is projected to maintain its dominance throughout the forecast period. The region's robust automotive and construction industries drive demand for hexylene glycol as a solvent and plasticizer. Europe is another significant market driven by the presence of major automotive and aerospace manufacturers. The Asia-Pacific region is expected to witness the highest growth rate during the forecast period, owing to the rapidly expanding automotive and electronics industries in countries like China and India.South America, the Middle East, and Africa (MEA) regions are anticipated to contribute modestly to the overall market, with growth driven by increasing industrialization and infrastructure development.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Hexylene Glycol Market Key Players And Competitive Insights
To start with a simple fact, major players in the Hexylene Glycol Market are constantly engaged in researching and developing to apply new chemicals and grow their scope of application. On the other hand, these companies are focused on increasing and expanding their production capacities. Besides that, business entities in a Hexylene Glycol Market are carrying out diverse activities aimed at boosting their overall performance. The most notable examples are the measures aimed at fostering partnerships and implementing mergers and acquisitions to get a better stand in this market. It can be expected that the Hexylene Glycol Market will be a highly volatile industry where leading entities, including the ones in focus, will strive to come up with new chemicals, grow their capacities, and establish sales and distribution hubs striving to boost their overall performance.Taking into account its scope of operation, BASF is one of the leading market players working on diverse projects through its network of production hubs. They are also in research and development and striving to come up with new applications for hexylene glycol. BASF has established a good distribution network and hired the world’s best chemical experts. Also, they have a qualified team of practicing chemists and engineers working for it worldwide. I also have to note that BASF is a socially responsible company, which means that it is fostering environmental protection and is carrying out a program aimed at reducing its overall environmental footprint.Dow is another example of a corporation that is working on enhancing business operations in the Asia-Pacific region by boosting its production capacities. They also have several research teams working on new applications and thus focus on growing their market performance. As another environment-conscious entity, they are working on a program aimed at reducing its overall environmental footprint.
Key Companies in the Hexylene Glycol Market Include:
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BASF
Dow
Covestro
PolyOne
Eastman
SABIC
Samsung
Formosa Plastics
Asahi Kasei
China National Chemical Corporation (ChemChina)
LyondellBasell
INEOS Oxide
Shell
ExxonMobil
Hengli Petrochemical
Hexylene Glycol Market Industry Developments
The hexylene glycol market is anticipated to reach USD 3.6 billion by 2032, exhibiting a CAGR of 3.68% during the forecast period (2024-2032). Rising demand for hexylene glycol in various industries, including automotive, construction, and personal care, is driving market growth. In the automotive sector, hexylene glycol is used as a brake fluid and antifreeze. In construction, it is employed as a plasticizer in PVC pipes and flooring. The personal care industry utilizes hexylene glycol as an emollient and humectant in cosmetics and skincare products.Recent news developments in the hexylene glycol market include the expansion of production capacity by major players such as BASF and Dow. In 2023, BASF announced plans to invest EUR 40 million to increase its hexylene glycol production capacity at its Nanjing, China site by 50%. Similarly, Dow announced a USD 100 million investment to expand its hexylene glycol production capacity at its Freeport, Texas site. These investments indicate the growing demand for hexylene glycol and the industry's optimistic outlook.
Hexylene Glycol Market Segmentation Insights
Hexylene Glycol Market Product Grade Outlook
Industrial Grade
Pharmaceutical Grade
Cosmetic Grade
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Hexylene Glycol Market Application Outlook
Plasticizers
Solvents
Cosmetics
Personal care products
Pharmaceuticals
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Hexylene Glycol Market End Use Industry Outlook
Automotive
Construction
Electronics
Packaging
Healthcare
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Hexylene Glycol Market Regional Outlook
North America
Europe
South America
Asia Pacific
Middle East and Africa
| Report Attribute/Metric | Details |
| Market Size 2022 | 2.51(USD Billion) |
| Market Size 2023 | 2.6(USD Billion) |
| Market Size 2032 | 3.6(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 3.68% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | BASF, Dow, Covestro, PolyOne, Eastman, SABIC, Samsung, Formosa Plastics, Asahi Kasei, China National Chemical Corporation (ChemChina), LyondellBasell, INEOS Oxide, Shell, ExxonMobil, Hengli Petrochemical |
| Segments Covered | Product Grade, Application, End Use Industry, Regional |
| Key Market Opportunities | Growing demand from the cosmetics industryIncreasing use of pharmaceuticalsRising adoption in food and beverage applicationsDevelopment of environmentally friendly gradesExpansion in emerging markets |
| Key Market Dynamics | Growing demand from the coatings industryIncreasing use of personal care productsRising adoption in industrial applicationsTechnological advancements in production processesStringent environmental regulations |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Hexylene Glycol Market is projected to reach an overall valuation of 2.6 Billion USD in 2023.
The Hexylene Glycol Market is estimated to grow at a CAGR of 3.68% from 2024 to 2032.
North America region is expected to account for the largest market share for Hexylene Glycol in 2023, primarily driven by the growing demand from industries such as paints and coatings, automotive, and personal care.
Hexylene Glycol finds applications in various industries, including paints and coatings, automotive fluids, personal care products, and pharmaceuticals.
BASF, Dow, ExxonMobil, INEOS, and Shell are among the prominent players in the Hexylene Glycol Market.
The increasing demand for Hexylene Glycol in paints and coatings, automotive fluids, and personal care products is a major factor driving the growth of the Hexylene Glycol Market.
The Hexylene Glycol Market faces challenges such as fluctuations in raw material prices and intense competition from alternative products.
The Hexylene Glycol Market is projected to reach an overall valuation of 3.6 Billion USD by 2032.
The automotive fluids segment is expected to witness the highest growth rate during the forecast period due to the increasing demand for Hexylene Glycol in brake fluids, antifreeze coolants, and power steering fluids.
Key trends shaping the Hexylene Glycol Market include the growing demand for eco-friendly and sustainable products, the development of bio-based Hexylene Glycol, and the increasing adoption of Hexylene Glycol in emerging applications
Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.Â
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