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Hexane Market Will Reflect Significant Growth Prospects By 2024
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Hexane is an organic solvent made from crude oil. It is used in various applications. Hexane contains a blend of hydrocarbons with six carbon atoms. It is widely used in the manufacture of industrial products. Two different types of hexane are available in the market: hexane-pure hexane and solvent-based hexane. Pure hexane is only used in laboratories, while, solvent-based hexane is extensively employed in several application. Hexane is used to extract oil from seeds. This increases the cost of the process and also carries the risk of toxicity. An alternative substitute has been developed that helps extract oil from several seeds by using sodium hydroxide and methanol. This process has been implemented with considerable success in soya bean seeds. The only drawback related to this process is the moisture content. Moisture content is the only drawback related to this process. High moisture content results in excess utilization of methanol in order to extract oil from seeds.
Solvent-based hexane; is used to extract vegetable oils from crops such as soybeans, cottonseed, rape seed, mustard seed, and safflower seed, etc. Solvent-chemical hexane is also widely used as cleaning agent in textile, printing, furniture and leather industries. It is also employed in various consumer products including glues, gasoline, rubber, and cement. Several properties of hexane are hazardous to human beings, excess inhalation may result in weakness, numbness, blurred vision, headache, and fatigue. The Occupational Safety and Health Administration (OSHA); has set a permissible exposure limit (PEL) of 500 ppm for hexane to protect the health of several workers engaged in hexane production facilities across the globe. However, hexane has certain beneficial properties. For instance, it is used in the removal of unwanted taste and odor. This is anticipated to drive the demand for hexane in the edible oil industry, as hexane is used in the manufacturing of several grades of cooking oils. Rising population coupled with increasing demand for refined oil, for cooking purposes is estimated to boost the demand for hexane in the near future.
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Prominent players operating in the hexane market include Exxon Mobil Corporation, Rompetrol Rafinare S.A., Chevron Philips Chemicals LLC, Royal Dutch Shell plc, GreenChem Industries, Hukill Chemical Corp., and Continental Chemical.
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Hexane Market Set to Surge Significantly During 2031
𝐇𝐞𝐱𝐚𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝟐𝟎𝟑𝟏
The global hexane market was valued at US$ 1.9 Bn in 2021
It is estimated to grow at a CAGR of 3.9% from 2022 to 2031
The global hexane market is expected to reach US$ 2.9 Bn by the end of 2031
𝐑𝐞𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 - https://www.transparencymarketresearch.com/hexane-market.html
𝐆𝐥𝐨𝐛𝐚𝐥 𝐇𝐞𝐱𝐚𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧
Hexane, also known as n-hexane or hexyl hydride, is an aliphatic hydrocarbon derived from fractional distillation of crude oil/natural gas. It…
