The ‘India Hexane Market Size, Report and Forecast 2023-2028’ by Expert Market Research, gives an extensive outlook of the India hexane market, assessing the market on the basis of its segments like grade and applications.
India Hexane Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 6.1%
The main driver of the hexane market’s expansion is the rising demand for efficient and healthy edible oil among households. As a solvent for the extraction of edible oils from seed and vegetable crops like peanuts, soybeans, and maize, hexane is gaining popularity. Hexane dissolves in vegetable oil readily and removes oil without harming fibre, sugar, protein, or undesirable gums, although other solvents like ethyl acetate and petroleum ether are less effective in doing so.
The market’s expansion in the edible oil treatment segment can be ascribed to people becoming more aware of the dangers of using refined oil and its effects on their health. In November 2018, the BPCL Kochi Refinery introduced a food-grade hexane product that may be used as a solvent for spices and vegetable oils.
Additionally, customers are more willing to pay higher prices for nutritious food products due to the rise in food-related health problems including high cholesterol and obesity. Edible oils rich in omega 3, vitamins, oryzanol, natural antioxidants, and other nutrients are becoming more and more popular worldwide, which is affecting consumer decisions.
India Hexane Industry Definition and Major Segments
Hexane is a non-reactive, colourless, odourless, and typically affordable solvent. It is well known that it burns easily and is insoluble in water. The availability of crude oil is crucial for hexane production. It is largely used in the formulation of glues and adhesives. It is employed in various sectors as a solvent extraction agent because of its insoluble properties. It can be used as a cleaning agent because it also has degreasing qualities.
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By grade, the market includes:
• Polymerisation
• Extraction
• Others
The major applications of the product are:
• Edible Oil Treatment
• Industrial Solvent
• Adhesive Formulation
• Leather Treatment
India Hexane Market Trends
The key driver of the hexane market expansion in the nation is the rise in demand for hexane for a variety of end products, including glues, gasoline, and cement, as well as the growing preference for hexanes over alternative solvents for a wide range of industrial applications. The hexane market’s growth rate will be strongly impacted by the rise of the rubber sector and numerous end user verticals, particularly in developing countries.
The hexane industry is projected to advance due to rising expenditure on healthcare facilities and increased demand for vegetable oils. Hexane is being used more frequently as a liquid in the healthcare and pharmaceutical industries to create tablet moulds. As hexane is largely produced by the refining and reforming of crude oil, rising crude oil output globally is predicted to be a significant driver for the market growth during the forecast period.
Additionally, because of the expanding oil and gas sector, it is predicted that hexane demand will increase significantly during the forecast period. However, the application of toxic contaminants utilised in the extraction of cooking oils has been restricted due to the implementation of severe rules by various government organisations, which could impede the market’s expansion.
Key Market Players
The major players in the Global India Hexane Market are :
- Bharat Petroleum Corporation Limited
- Ridhdhi Sidhdhi Chemicals
- Indian Oil Corporation Ltd
- Arham Petrochem Private Limited
- Standard Reagents Pvt. Ltd.
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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