The global hexane market is expected to reach USD 2.36 billion by 2024, according to a new report by Grand View Research, Inc. The growth of oil extraction industry is expected to remain a key factor driving the global hexane market over the forecast period. Growing use of hexane across key end-use industries such as rubber and petrochemical is anticipated to boost the global market over the next eight years. It is extensively used as a special purpose solvent and as an oil extractant in industries such as printing, textiles, and leather. Extraction emerged as the dominant grade owing to its wider applicability and demand from growing edible oil industry. The grade accounted for over 55% of the overall consumption in 2015. Edible oil demand has been witnessing significant growth for the past few years owing to increasing consumption of fried food. Factors such as rising purchasing power of consumers along with evolving dietary habits have led to a shift in consumer p...
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