Global N-heptane Market: Overview
Heptane or n-heptane refers to a straight-chain alkane that comes with the chemical formula of C7H16 or H3C(CH2)5CH3. It is one of main elements of gasoline or petrol. This chemical is utilized as a component of test fuel in anti-knock test engines, which is likely to play an important role in the expansion of the global n-heptane market over the timeframe of analysis, from 2020 to 2030.
This chemical, n-heptane, is a straight chain organic compound that comes from the family of alkane hydrocarbon family. This volatile organic compound comes colorless and has a typical odor of petroleum. A non-polar solvent, n-heptane, finds extensive utilization in several industries, such as industrial and textile cleaning, sealants and adhesives, electronics, paints and coatings, plastic and polymers, and pharmaceutical. Wide scope of use arising from multiple industries is anticipated to fuel growth of the global n-heptane market over the tenure of forecast, from 2020 to 2030.
Grade type, application, and region are some of the vital parameters based on which the global n-heptane market has been broadly segmented.
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Global N-heptane Market: Notable Developments
The global n-heptane market is regarded as a competitive market with the presence of several prominent market players. These companies are forging, partnerships, collaborations, and mergers in an effort to gain larger revenue and market share. The following development is expected to play an important role in the market:
- In 2017, US-based Exxon Mobil Corporation expanded the capacity of its global production of hydrocarbon fluids by 250,000 tonnes every year. This strategic move is anticipated to result in the availability of higher volumes of Exxsol series.
Some of the prominent organizations in the global n-heptane market comprise the below-mentioned:
- Chevron Phillips Chemical Company
- Royal Dutch Shell Plc.
- Haltermann Carless Deutschland GmbH
- Exxon Mobil Corporation
- Hanwha Total Petrochemical Company Limited
- SK Global Chemical Co., Ltd.
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Global N-heptane Market: Key Trends
The global n-heptane market is characterized by the presence of the following restraints, drivers, and opportunities.
High Demand Paints and Coatings Industry to Pave Way for Rapid Growth of the Market
The global n-heptane market is anticipated to observe considerable growth over the tenure of assessment, from 2020 to 2030. The growth of the market is primarily influenced by the high demand of n-heptane generated by paints and coatings and pharmaceutical industries. A phenomenal rise in the use of electronic goods due to changing standard of living and increasing disposable income of the people is likely emerge as a growth factor for the global n-heptane market in the years to come.
In addition to that, a rise in the production of automotives together with the surging construction and building activities are creating plentiful opportunities paints and coating sector. In turn, this sector is likely to create opportunities for the players in the global n-heptane market in the near future. The demand for high purity n-heptane is arising from the pharmaceutical industry, which is likely to come up as another profitable end user for the market.
Global N-heptane Market: Geographical Analysis
The global n-heptane market is likely to be dominated by Asia Pacific with China driving the growth of this regional market. Growth of automotives, plastics and polymer, and adhesive and sealants industries in China is likely to widen the scope of application of n-heptane in the country. South Korea and India are two important regions in the market. Flourishing construction business in both the countries are likely to generate demand for paints and coatings, which is expected to foster growth of the regional n-heptane market in the near future.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.