Rising demand in the pharmaceutical industry also will support the growth of the market. The global n- Heptane market size is anticipated to expand at a steady CAGR of 5.6% CAGR over the forecast period between 2023 and 2033, finds Future Market Insights (FMI) in a recent market analysis. The growth of the paints and coatings industry, which drives the n-Heptane market, is being fueled by rising automobile production and rising building and construction activities.
The demand for n-Heptane is also driven by the increasing number of regulations imposed on the use of solvents such as aromatic solvents and also boosting the market by increasing production capacity and plant efficiency.
N-heptane is often used as an industrial fuel, a cleaning agent, and a laboratory agent. Cleaner extracts are known to be produced with n-heptane.It has various advantages over dichloromethane solvent because of its comparatively nontoxic properties. In certain conditions, such as when employed as a solvent, the latter produces hydrochloric acid, which can destroy extraction equipment. Using n-heptane, this disadvantage might be easily overcome.
However, the rising demand from various industries is boosting the market. N-Heptane is used as a paint solvent and rubber cement thinner in paints & coating industry. It is also excellent for oil extraction and solvent extraction. Jun yuan Petroleum Group produces a high purity (99.9%) grade of n-Heptane which is widely used in laboratories in the United States as a non-polar solvent, botanical processing labs, etc.
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Key Takeaways:
- Growth of the pharmaceutical industry led to increase the demand of n heptane and pushing sales in the greater than 99% segment over the assessment period.
- The global n-heptane market is likely to be dominated by Asia Pacific with China majorly driving the growth of the East Asia due to continuous growth in automotive, plastics and polymer, and adhesive and sealants industries.
- By purity, demand for 95-99% is expected to surge at a 6.1% CAGR over the forecast period.
- Sales of n- Heptane in the U.S. are anticipated to increase by 4.0% year-over-year in 2022.
- China is expected to account for over 49.9% of the East Asia n- Heptane market share in 2022.
Competitive Landscape
Key market participants in the global n- Heptane market elaborated in the report includes Exxon Mobil Corp, Royal Dutch Shell plc., SK Global Chemical Co., Ltd., Haltermann Carless Deutschland GmbH, Chevron Phillips Chemical Company, Sankyo Chemical Co. Ltd, DHC Solvent Chemie GmbH, Gadiv Petrochemical Industries Ltd. and many others. and many others.
Companies operating in the global n- Heptane market are focusing on increasing their production capacities to boost their market footprint especially in the emerging economies. Furthermore, key market participants are focusing on mergers, acquisitions and collaborations strategies to expand their global presence and strengthen their distribution network. For instance:
- On February 2018, Hanwha Total Petrochemical Company Limited began with the production of normal heptane, which can be integrated into various products such as pharmaceuticals, transport, storage, etc. Normal heptane is a by-product of naphtha cracking. The company spent US$ 455 Mn on its Naphtha Cracking Centre in South Chungcheong province.
What is the Impact of COVID-19 Crisis on n- Heptane market?
Impact of the COVID-19 pandemic on the chemical and materials industry was moderate. Sales of many chemicals and materials plummeted due to disruption in supply chains and transportation restraints.
However, due to disruptions in the supply chain caused by the pandemic COVID-19, sales of hydrocarbon solvents reduced. With the recovery of the electronics, industrial coatings, and automotive, this demand would rise.
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The COVID-19 epidemic caused a drop in the market for hydrocarbon solvents in 2020. Various governments imposed lockdowns, causing production to be halted and force majeure to be observed throughout many industries. This actively reduced the hydrocarbon solvent procurement procedure.
However, with the relaxation of lockdowns and the reopening of manufacturing sites, the market for hydrocarbon solvents is expected to expand at a moderate rate in the immediate term.
More Insights into the N- Heptane Market Report
In its latest report, FMI offers an unbiased analysis of the Global N- Heptane market, providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of purity (<95%, 95-99% and ≥99%), application (pharmaceuticals, paints & coatings, electronics, adhesives & sealants, plastic & polymers and others) across seven regions (North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa).
n- Heptane Markey By Category
By Purity:
- <95%
- 95-99%
- ≥99%
By Application:
- Pharmaceuticals
- Paints & Coatings
- Electronics
- Adhesives & Sealants
- Plastic & Polymers
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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