Heptane Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

 

Heptane: Introduction

 

·         Heptane is a volatile organic compound of the alkane hydrocarbon family. It is a colorless liquid with a typical petroleum odor. Heptane is a non-polar solvent that is extensively utilized in various applications such as pharmaceuticals, electronics, paints & coatings, plastic & polymer, adhesives & sealants, and textile and industrial cleaning products. It is also used as a fuel component in anti-knock engine testing. In terms of purity, heptane is majorly classified into <95%, 95-99% and ≥99%. It is also employed in niche applications such as catalyst preparation, chromatography, and other lab scale operations.

 

Key Drivers of Global Heptane Market

 

·         The global heptane market is expected to expand significantly due to an increase in the demand for heptane in various applications such as cleaning agents, pharmaceuticals, paints & coatings, and adhesives & sealants.

·         Increase in consumption of consumer electronics, owing to a rise in disposable income and higher standards of living, is expected to fuel the demand for heptane

·         Enactment of numerous regulations on solvents, such as aromatic solvents, is expected to further propel the demand for heptane in the near future. Rise in production capacity of manufacturers of heptane and increase in efficiency of plants are also boosting the production of heptane.

·         Heptane is also used to distinguish aqueous bromine from aqueous iodine owing to the color distinction advantage provided by heptane, as iodine changes its color to purple when dissolved in heptane

 

Pharmaceutical Application Segments Expected to Expand at Significant Pace

 

·         Heptane is majorly utilized in the purification process of pharmaceutical products and other synthetic organics, which is expected to propel the demand for heptane in pharmaceutical applications. Expansion of the pharmaceutical industry is further driving the demand for high purity heptane.

·         Rise in automotive production and building & construction activities is estimated to fuel the paints & coating industry and subsequently, drive the heptane market

·         High consumption of heptane in coatings and adhesives, which are used in various industries such as automotive, construction, and electronics, is expected to further boost the market in the near future

 

 

 

Covid-19 Impact on Heptane Market

 

·         The global COVID-19 pandemic has led to a sudden pause to manufacturing activities across the globe, affecting the demand for various products. The most critically impacted end-use segments include automotive, consumer goods, industrial equipment, construction, and electronics. Heptane finds major application in these industry, which has negatively impacted the market for heptane.

·         Certain segments of the market such as detergents and pharmaceuticals are witnessing a surge in demand in the healthcare sector, contrary to the trend prevalent in the industry in general, which may enhance the demand for heptane in these applications

·         However, easing restrictions and public discourse about restarting economic activities in the consumer goods market space indicates the recovery of demand for heptane

 

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Asia Pacific to Hold Significant Share of Global Heptane Market

 

·         In terms of region, the global heptane market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

·         Asia Pacific is a major consumer for heptane across the globe. The region is likely to witness a significant rise in product demand owing to expansion of the healthcare sector and the pharmaceutical industry in the region.

·         Increase in demand for adhesives and paints in various end-use industries, such as automotive, construction, and packaging, is projected to fuel the demand for heptane during the forecast period

·         North America and Europe followed Asia Pacific, in terms of demand for heptane. Germany, France, and the U.K. are key countries in Europe. The heptane market in North America and Europe is estimated to expand owing to various factors such as well-established healthcare facilities, growing chemicals, plastics & rubber, and paints & coatings industries in these regions.

 

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Key Players Operating in the Market

The global market of heptane is consolidated in nature with few major player holding a significant market share. Globally, these few market players are expected to account for 40% to 50% of the market share. Expansion, acquisition, joint venture, and collaboration are key strategies adopted by major players to expand their presence in the global heptane market.

Key players operating in the global heptane market include:

·         Exxon Mobil Corporation

·         Royal Dutch Shell plc.

·         SK Global Chemical Co., Ltd.

·         HCS Group

·         Chevron Phillips Chemical Company

·         Sankyo Chemical Co. Ltd.

·         Hanwha Total Petrochemical Company Limited

·         DHC Solvent Chemie GmbH

·         Merck Millipore Limited

·         Gadiv Petrochemical Industries Ltd.

 

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