QY Research recently published a new report on the global N-Heptane market. This 128-page report, titled “Global N-Heptane Market Report, History and Forecast 2014-2025”, evaluates the key market dynamics, qualitative and quantitative insights, and historical data. The global N-Heptane market is likely to rise at US$70.9 bn by 2025 from US$56.7 bn in the year 2018, registering with a sluggish CAGR of 3.2% throughout the forecast period.
Global N-Heptane Market: Drivers and Restraints
The global N-Heptane market is likely to be driven by factors such as growing consumption of electronic goods due to increasing per capita income and a rising standard of living. Rising automotive production and growing construction and infrastructure activities are likely to propel the growth of the paint and coating industry, which, in turn, is expected to propel market growth.
Escalating the demand from paint and coating industry and pharmaceutical industry is likely to surge the demand for N-Heptane. The increasing demand for solvents such as aromatic solvents are creating opportunities for the N-Heptane market. Increasing efficiency of plants and mounting production capacity are also likely to influence the demand of N-heptane in the near future.
However, N-Heptane is hazardous and can harm eyes and skin if inhaled or ingested. Apart from this, N-Heptane is highly flammable in the presence of open sparks and flames. All these factors are expected to create a negative impact on the growth of the market during the anticipated period.
Global N-Heptane Market: Forecast by Regions
Asia Pacific is likely to dominate the global N-Heptane market during the forecast period. The growing construction and building activities in emerging economies such as China and India are expected to boost the regional market. Europe and North America are also expected to offer lucrative opportunities to the N-Heptane market due to the factors such as its increasing usage in the pharmaceutical and healthcare industries and the growing chemical and plastics industry in the regions.
Global N-Heptane Market: Segmental Analysis
The market is segmented on the basis of applications and product type. Based on the product type, the market is segmented into Heptane 97%, Heptane 95%, and others. The application segment is segmented into chemical synthesis, pharmaceutical intermediates, industrial solvents, electronics, and others.
Global N-Heptane Market: Key Players
Some of the major players operating in the market are DHC Solvent Chemie GmbH, SK, Hai Shunde, Shell, ZT League, Chuzhou Runda Solvents, Wuyang Chemical, Chevron Phillips Chemical, Liyang Liancheng, ExxonMobil, Mitsubishi Shoji Chemical, and Phillips 66.
Global N-Heptane Market: Competitive Landscape
Mergers and acquisitions, collaborations, expansions, and joint ventures are some of the key strategies that are adopted by the companies to generate revenue, expand their business, and sustain in the competitive market. For Instance, in the year 2017, ExxonMobil has announced the expansion of its global hydrocarbon fluids capacity by 2,50,000 tons per year. This expansion will help the company to generate higher volumes of Exxsol series.
Full Report Overview@ https://www.qyresearch.com/index/detail/1076293/global-n-heptane-market