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India Hexane Market: By Grade: Polymerisation, Extraction, Others; By Application: Edible Oil Treatment, Industrial Solvent, Adhesive Formulation, Leather Treatment; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; Industry Events and Developments
India Hexane Market Outlook
The India hexane market is expected to grow at a CAGR of about 6.1% in the forecast period of 2023-2028.
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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
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Grade |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Hexane Market Overview
8.1 Key Industry Highlights
8.2 Global Hexane Historical Supply (2018-2022)
8.3 Global Hexane Supply Forecast (2023-2028)
8.4 Global Hexane Historical Demand (2018-2022)
8.5 Global Hexane Demand Forecast (2023-2028)
8.6 Global Hexane Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 India Hexane Market Analysis
9.1 Key Industry Highlights
9.2 India Hexane Historical Supply (2018-2022)
9.3 India Hexane Supply Forecast (2023-2028)
9.4 India Hexane Historical Demand (2018-2022)
9.5 India Hexane Demand Forecast (2023-2028)
9.6 India Hexane Market by Grade
9.6.1 Polymerisation
9.6.1.1 Market Share
9.6.1.2 Historical Trend (2018-2022)
9.6.1.3 Forecast Trend (2023-2028)
9.6.2 Extraction
9.6.2.1 Market Share
9.6.2.2 Historical Trend (2018-2022)
9.6.2.3 Forecast Trend (2023-2028)
9.6.3 Others
9.7 India Hexane Market by Application
9.7.1 Edible Oil Treatment
9.7.1.1 Market Share
9.7.1.2 Historical Trend (2018-2022)
9.7.1.3 Forecast Trend (2023-2028)
9.7.2 Industrial Solvent
9.7.2.1 Market Share
9.7.2.2 Historical Trend (2018-2022)
9.7.2.3 Forecast Trend (2023-2028)
9.7.3 Adhesive Formulation
9.7.3.1 Market Share
9.7.3.2 Historical Trend (2018-2022)
9.7.3.3 Forecast Trend (2023-2028)
9.7.4 Leather Treatment
9.7.4.1 Market Share
9.7.4.2 Historical Trend (2018-2022)
9.7.4.3 Forecast Trend (2023-2028)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Bharat Petroleum Corporation Limited
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Ridhdhi Sidhdhi Chemicals
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Indian Oil Corporation Ltd
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Arham Petrochem Private Limited
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Standard Reagents Pvt. Ltd.
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Key Trends and Developments in the Market
List of Figures and Tables
1. Global Hexane Market: Key Industry Highlights, 2018 and 2028
2. India Hexane Market: Key Industry Highlights, 2018 and 2028
3. India Hexane Historical Market: Breakup by Grade (USD Million), 2018-2022
4. India Hexane Market Forecast: Breakup by Grade (USD Million), 2023-2028
5. India Hexane Historical Market: Breakup by Application (USD Million), 2018-2022
6. India Hexane Market Forecast: Breakup by Application (USD Million), 2023-2028
7. India Hexane Market Structure.
Key Questions Answered in the Report
The India hexane market is projected to grow at a CAGR of 6.1% between 2023 and 2028.
The major drivers of the market include the rising popularity of edible oils, increased use in the rubber industry, growth and expansion of various end use verticals, growing expenditure on drug development, and rising crude oil production.
The rise in demand for hexane for various end use products, including glues, gasoline, and cement, coupled with growing awareness regarding the benefits of hexane for a wide range of industrial applications are the key industry trends propelling the growth of the market.
Based on grade, the market is divided into polymerisation and extraction, among others.
The major applications of the product are edible oil treatment, industrial solvent, adhesive formulation, and leather treatment.
The major players in the industry are Bharat Petroleum Corporation Limited, Ridhdhi Sidhdhi Chemicals, Indian Oil Corporation Ltd, Arham Petrochem Private Limited, and Standard Reagents Pvt. Ltd., among others.
Analyst Review
The India hexane market was driven by the rising utilisation of the product for the treatment of edible oils in the historical period. Aided by the increasing demand in various application sectors and the rising crude oil production, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 6.1%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on grade, the market is divided into polymerisation and extraction, among others. The major applications of the product are edible oil treatment, industrial solvent, adhesive formulation, and leather treatment. The key players in the above market are Bharat Petroleum Corporation Limited, Ridhdhi Sidhdhi Chemicals, Indian Oil Corporation Ltd, Arham Petrochem Private Limited, and Standard Reagents Pvt. Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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