Heptane solvent is a straight chain, colorless, non-polar, volatile organic liquid with characteristic such as petroleum odor, and belongs to alkane hydrocarbon family. The solvent iswidely used in several industries such as pharmaceuticals, plastic & polymers, electronics, adhesive & sealants, textile & industrial cleaning and paints & coatings. Additionally, in anti-knock engine testing it is used as a testing fuel component.
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The global heptane solvent market size was valued $121M in year 2020 and it was expected to reach $150.9M by year 2027, with a registering CAGR of 3.2% during the forecast period 2024-2031. Geographically, the global heptane market was dominated by China during the estimated period by registering the lucrative growth with reference to its end user industries. To propel the heptane market globally, several dynamics significantly focus to expand the growth of the market which includes- Increase in demand of Heptane in numerous industries such as Pharmaceuticals, Adhesive & Coatings, Cleaning Agent and Paints & Coatings which significantly expected to expand the Global Heptane Solvent Market. Rise in production and manufacturing capacity of heptane and enactment of various standards on solvents, such as aromatic solvents while increasing the efficiency of plants will expected to enhance the demand for Heptane in the market.
Along with this, the application segment of global heptane solvent market is expected to drive the market with significant pace such as- In pharmaceutical industries, Heptane was majorly employed in the process of purification of pharmaceutical products and some other synthetic organics. The growing pharmaceutical industry and expansion in the demand for heptane in pharmaceutical application is expected to drive the subsequent growth of the market. High consumption of heptane is incorporated in paints, coatings and adhesives for various usage in automotive, electronics, and construction application which is anticipated to expand the demand for heptane with subsequent growth of the global heptane solvent market.
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Market Coverage
- Segment Covered-
o By Purity Type
o By Application
- Competitive Landscape- Exxon Mobil Corp., Royal Dutch Shell Plc., SK Global Chemical Co. Ltd., HCS Group, Chevron Phillips Chemical Company, Sankyo Chemical Co. Ltd., Hanwha Total Petrochemical Company Ltd., DHC Solvent Chemie GmbH, Merck Millipore ltd., Gadiv Petrochemical Industries Ltd.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Heptane Solvent Market Report Segment
By Purity Type
- <95%
- 95-99%
- ?99%
By Application
- Pharmaceuticals
- Paints & Coatings
- Electronics
- Adhesives & Sealants
- Plastic & Polymers
- Others
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