The market for Hexane is expected to grow at a CAGR of around 3.8% globally during the forecast period.

  • Hexane is produced by the refining of crude oil. The Demand form petrochemical industries is driving the Hexane market.
  • Safer Alternatives for oil extraction is likely to hinder the markets growth.



Key Market Trends

Edible Oil Extraction to Dominate the Market

  • Hexane is increasingly being used as a solvent to extract edible oils from seed and vegetable crops e.g., peanuts, soybeans, corn etc.
  • Hexane has greater ability to extract oil when compared to other solvent like petroleum ether and ethyl acetate. It easily mixes with the vegetable oil and washes it out without disturbing fiber, protein, sugar and undesired gums.
  • Growth in the segment of edible oil can be attributed to the rising awareness among consumers regarding the use of refined oil and the health impact associated with the same.
  • According to the United States Department of Agriculture, the consumption of edible oils such as Soybean oil for the year 2019 in United states was 10,659 metric tons, and Canola oil was 2,465 metric tons. Moreover, according to the Department for Promotion of Industry & Internal Trade, in India the investment value in the vegetable oil sector for the year 2019 was around INR 18 billion.
  • Additionally, the consumers are inclined to pay higher prices for healthy food products owing to the rising food-based health challenges such as cholesterol, obesity etc.
  • The increasing fascination about edible oils with added health benefits in many countries is shaping to buy edible oils, which are high in omega 3, vitamins, oryzanol, natural antioxidants, and others. Thus, exhibiting a demand for the edible oils during the forthcoming years.



Asia-Pacific to Dominate the Market

  • Asia-Pacific is expected to dominate the global hexane market during the study period. Hexane is used as a solvent for glues, varnishes, and inks, it is also used to extract oil and grease contaminates from soil and water for analysis in laboratories.
  • The rapid growth of food and beverages sector to meet the demand of the increasing population, and the demand for the industrial grade hexane from countries such as India, China, Indonesia are the major components boosting the development of the hexane market in the Asia-Pacific region.
  • Owing to the rapid urbanization in the region, the demand for various applications of hexane such as a cleaning agent in the textile, furniture and printing industries are expected to grow during the forecast period.
  • Additionally, the demand for hexane is expected to witness a tremendous growth in the region owing to the increasing food processing industries in the countries such as China, India, Thailand etc.
  • Thus, from the above-mentioned points the demand for the hexane in the Asia-pacific region is expected to increase during the forecast period.



Competitive Landscape

The global hexane market is partially consolidated in nature with few major players dominating a significant portion of the market. Some of the major companies are Exxon Mobil Corporation, Bharat Petroleum Corporation Limited, Merck KGaA, Royal Dutch Shell Plc, and Sumitomo Chemical Co., Ltd among others.

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