India Hexane Market Report and Forecast 2024-2032

India Hexane Market Outlook

The India hexane market is expected to grow at a CAGR of about 6.1% in the forecast period of 2024-2032.

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Increasing Demand for Edible Oil Treatment to Bolster the Market Growth of Hexane in India

The growing demand for effective and healthier edible oil in households is the primary factor for the growth of the hexane market. Hexane is becoming more popular as a solvent for extracting edible oils from seed and vegetable crops like peanuts, soybeans, and maize. Other solvents, such as ethyl acetate and petroleum ether, have a lower ability to extract oil than hexane as the latter gets easily dissolved in vegetable oil and washes it out without affecting fibre, sugar, protein, or unwanted gums. The growth of the edible oil treatment segment in the market can be attributed to the rising consumer awareness about the use of refined oil and its impact on consumers' health. For example, BPCL Kochi Refinery launched a food-grade hexane product in November 2018 that may be used as a solvent for spices and vegetable oils. Additionally, with the rising number of food-related health issues, such as high cholesterol and obesity, consumers are more willing to pay higher prices for healthy food products. In many countries, the rising popularity of edible oils with extra health advantages is influencing purchasing decisions for edible oils high in omega 3, vitamins, oryzanol, natural antioxidants, and other nutrients.

Market Segmentations

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Hexane is a solvent that is non-reactive, odourless, colourless, and generally inexpensive. It is known to be water insoluble and very combustible. Hexane production is highly reliant on the availability of crude oil. It has a wide range of applications, primarily in the formulation of glues and adhesives. Due to its insoluble characteristics, it is also used as a solvent extraction agent in many industries. It also has degreasing characteristics that make it useful as a cleaning agent.

By grade, the market includes:

• Polymerisation
• Extraction
• Others

The major applications of the product are:

• Edible Oil Treatment
• Industrial Solvent
• Adhesive Formulation
• Leather Treatment

Rising Demand for Hexane in Various Applications Boosting the Market Growth

The rise in demand for hexane for various end products, including glues, gasoline, and cement, coupled with the growing preference for hexanes over other solvents for a wide range of industrial applications, is the primary factor for the hexane market growth in the country. The rubber industry's growth and the expansion of various end user verticals, particularly in developing nations, would directly benefit the hexane market's growth rate. Growing expenditure on the development of healthcare facilities and the increased demand for vegetable oils are likely to propel the hexane industry forward. Hexane is increasingly being employed as a liquid in the fabrication of tablet moulds in the healthcare and pharmaceutical industries. Rising crude oil production around the world is anticipated to be an important driver for the market growth during the forecast period, as hexane is primarily produced by refining and reforming of crude oil. Moreover, the demand for hexane is anticipated to witness a significant growth over the assessment period owing to the thriving oil and gas industry. However, the implementation of stringent regulations by various government organisations has restricted the application of toxic contaminants used in the extraction of cooking oils, which may hamper the growth of the market.

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Key Players in the India Hexane Market

The report gives a detailed analysis of the following key players in the India hexane market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Bharat Petroleum Corporation Limited
• Ridhdhi Sidhdhi Chemicals
• Indian Oil Corporation Ltd
• Arham Petrochem Private Limited
• Standard Reagents Pvt. Ltd.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
 

Key Highlights of the Report