India Hexane Market Outlook
According to the report by Expert Market Research (EMR), the India hexane market size is projected to grow at a CAGR of 6.1% between 2024 and 2032. Aided by the multiplying applications of hexane in numerous sectors, particularly its pivotal role in the edible oil extraction industry, the market is expected to grow significantly by 2032.
Hexane, belonging to the family of alkanes with six carbon atoms, is prominently recognised as a significant fraction of gasoline. Its primary adoption is witnessed in the realm of edible oil extraction, a sector which India dominates considerably due to its extensive agricultural practices and associated industries. Aside from this, hexane showcases its versatility by serving as a cleansing agent in various industries and as an essential element in laboratories to purify oils.
A prime driver for the India hexane market growth is the mounting consumption of vegetable oils. Mirroring the global trend towards healthier lifestyles, India’s burgeoning middle class is increasingly opting for refined oils, necessitating the need for hexane in the extraction process. This shift in consumer behaviour is setting the trajectory for a consistent rise in hexane demand.
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The vast landscape of India’s pharmaceutical sector, which stands as a global powerhouse, employs hexane in various capacities, further amplifying India hexane market demand. Furthermore, with the Indian chemical industry on an upward swing, hexane’s role in producing adhesives, rubber products, and even in the footwear industry cannot be sidelined.
Simultaneously, as sustainable solutions gain momentum in India’s energy policies, biodiesel production is experiencing significant expansion. Hexane, a cornerstone in the biodiesel manufacturing process, naturally sees a surge in its demand, tethering its market growth to the promising future of renewable energy sources in the country.
Additionally, the nation’s accelerated pace of industrialisation and infrastructural evolution is shaping new horizons for the hexane market. The rising number of research institutions and laboratories, a direct consequence of India’s push for scientific and technological advancements, presents a lucrative opportunity for the suppliers and producers of hexane.
In the backdrop of India’s robust agricultural sector, a key factor to highlight is the burgeoning demand for hexane in seed oil extraction. Seeds like soybean, sunflower, and safflower, cultivated extensively in various parts of India, necessitate hexane for efficient oil extraction, further impacting the India hexane market outlook.
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India Hexane Market Segmentation
The market can be divided based on grade and application.
Market Breakup by Grade
- Polymerisation
- Extraction
- Others
Market Breakup by Application
- Edible Oil Treatment
- Industrial Solvent
- Adhesive Formulation
- Leather Treatment
India Hexane Market Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India hexane market. Some of the major players explored in the report by Expert Market Research are as follows:
- Bharat Petroleum Corporation Limited
- Ridhdhi Sidhdhi Chemicals
- Indian Oil Corporation Ltd
- Arham Petrochem Private Limited
- Standard Reagents Pvt. Ltd.
- Others
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