Kenaf Seed Oil Market In-depth Analysis, Share, Company Profiles, and Insights Covering Market Share Forecast 2019 to 2027
A recently released report by Fact.MR provides invaluable, actionable insights into the kenaf seed oil market. The report includes a list of all the key factors influencing the kenaf oil market performance along with explanations justifying their inclusion in the report. A detailed analysis of all the macro and microeconomic factors impacting the kenaf seed oil market growth have been included in the report. Both quantitative and qualitative assessment of the identified factors has been provided in the report. A comprehensive opportunity assessment of the kenaf seed oil market has also been
included in the report. In addition to this, a comprehensive analysis of the competitive landscape prevalent in kenaf seed oil market has been provided towards the end of the report
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Burgeoning Demand for Biofuels to Underpin Kenaf Seed Oil Market Growth
Accelerating investments in oil and gas exploration activities due to a drop in the supply is creating a surge in the prices of fossil fuels. The growing prices of fossil fuel in addition to extended governmental support for research and development of eco-friendly fossil fuel alternatives is bolstering investments into the production of kenaf seed-based biodiesel. Additionally, kenaf seed-based biodiesel is increasingly gaining traction in an array of industries owing to their non-toxic nature and substantially low emissions. The plant-based fuel offers a potential eco-friendly alternative which can provide efficient performance while lowering the adverse impact of fossil fuel emissions on the environment. Studies have concluded a mixture of diesel and kenaf seed oil-based biodiesel to perform effectively under all load conditions. According to the report, the biodiesel segment is projected to register a Y-o-Y growth of over 7% in 2019 with numerous companies adopting biodiesel due to governmental regulations and in an effort to achieve sustainability.
Kenaf Seed Oil Market – Competitive Landscape
- Hemp Inc., a leading player operating in the kenaf seed oil market, launched equipment which uses kenaf as a loss circulation material (LCM) that is used to seal the hole around the oil well to prevent mud and other toxic substances from leaking into underground water streams or other porous earth surfaces around the drill. The machine known as DrillWall was made using the core of kenaf. The growing demand for kenaf is expected to increase commercial production of kenaf seeds which, in turn, is estimated to propel kenaf seed oil market growth.
- Intensifying research towards the use of kenaf seed oil in the potential treatment for cancer saw another addition to the list of developments after research concluded that the oil substantially reduced the severity of leukemia in mice.
- Kenaf seed oil’s potential application as a viable treatment option for cholesterol and higher lipid profiles received a significant boost after a study suggested the use of bio-oil in cardio-protective functional foods for countering cholesterol.
- With the widening of the supply-demand gap, kenaf seed oil market players are increasingly investing in research and development of techniques which boost yield and quality of kenaf seeds. A recent development in the area was the release of a study which concluded that continuous kenaf cropping on the same plot of land deteriorates soil fertility and adversely impacts the quality of kenaf seeds.
Other leading players operating in the kenaf seed oil market include Shree Laxminaryan Oils, Pepagora, Gincoc Limited, Thar Process, Inc., National Kenaf and Tobacco Board, The Department of Agriculture and Fisheries, Advanced Biofuel Center, Chempro Technovation Pvt. Ltd., Kenaf Development Association of Nigeria and Parchem Fine & Specialty Chemicals Inc..
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