New York, NY -- (SBWire) -- 08/09/2019 --It evaluates the data gathered to give an extensive view of the trends and predicts the possible developments in the forecasted duration. For this study, historical data has been collected from the years 2016 and 2017, while taking 2018 as the base year to estimate the rise of the industry in the years 2019 to 2026.
Refinery process additives are chemicals used to separate and remove water from the oil, improve the performance of various refinery process, and recuperate the yield of end-use fuel products such as diesel or gasoline. The additives are used in multiple refinery processes such as distillation process, reformer system, cracker, coker, filling plant process, desulfurization, and many more. Each refinery has its own set of guidelines along with regulatory specification enacted by the government authorities. The use of refinery process additives is only applicable to the oil and gas sectors.
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The increasing demand for diesel, implementation of stringent regulations regarding the air pollution standards around the globe, depleting fossil energy sources and fluctuating cost of fuel are the key driving factors promoting the growth of the refinery process additives industry. There has been an increase in the number of newly set up refineries around the globe, which has had a positive impact on the business and will contribute to its steady development in the coming years. The growing need for fuel-efficient vehicles is another driver of the market, especially in regions like Europe, where the automotive sector is booming.
The high cost of refinery process additives in developing economies may hinder the expansion of the market. In such cases, production of additives such as antifoulants is vital as they can help reduce the cleaning cost and optimize the profitability. For a cleaner fuel process, the US and Europe have put strict environmental regulators who have lowered the permissible levels of sulfur in diesel. Emerging economies such as China and India have already set standard levels for sulfur in diesel. This, in turn, has led to an increase in the demand of refinery process additives such as lubricity improvement additives to restore the natural lubricating characteristics of low-sulfur fuel, which will benefit the businesses.
North America owns the majority of the global industry share of refinery process additives. The key reasons facilitating the high consumption rate in this region include the recovering oil & gas sector, strict emission regulations, and standards. Comparatively, the Asia Pacific and Latin America are lenient with the environmental concerns which have resulted in a slow growth rate of the refinery process additives market. The growing poor quality of air and environmental concerns in these regions is slowly shifting the focus on creating proper emission standards and regulations. As a result, companies will have better growth prospects in these regions during the forecast period.
Some of the key findings from our Refinery Process Additives market report
The document provides an investigation of the refinery process additives market to forecast its growth. The past data is considered from the years 2016 and 2017 while taking 2018 as the base year to estimate the trends in the years 2019 to 2026. The industry has been categorized into different segments based on type as Product Quality Improvement Additives, Environmental Protection Additives, Extend Operating Cycle and Reduce Energy Consumption Additives, Raw Oil Quality & Catalytic Activity Improvement Additives, Product Distribution Improvement Additives. Furthermore, the market has been segmented based on application as Crude Oil Processing, Fluid Catalytic Cracking, Hydroprocessing, and others to assess their size, share, demand, trends, gross profit, total earnings, and revenue among other industry aspects. This report also evaluates the competition to derive the individual placements of the key players in the global sector.
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Global Refinery Process Additives market overview
The global refinery process additives industry is projected to undergo a steady rise in the forecasted period, as observed by the outcome of the analysis provided in this study. The report encompasses the different factors that have a substantial impact on revenue of the businesses. This study also profiles the key players that account for a significant share in the global economy of the refinery process additives business. The key players are focusing on increasing their nelson complexity index that compares the secondary conversion of a primary petroleum refinery with a primary distillation capacity, and expansion to newer regions, in order to gain a competitive advantage.
Key players in the global Refinery Process Additives market:
Albemarle, Arkema, Baker Hughes, BASF, Cestoil, Chevron Corporation, Clariant, CNPC Vanderbilt Chemicals, Dorf Ketal Chemicals, Dow, Evonik Industries, GE Water, GPXC, Grace Catalysts Technologies, Jiangsu Taihu New Materials, Johnson Matthey (Interact), Nalco Company, The Lubrizol Corporation, Sinopec, Xingyun Chem
Market segment based on Type:
- Product Quality Improvement Additives
- Environmental Protection Additives
- Extend Operating Cycle and Reduce Energy Consumption Additives
- Raw Oil Quality & Catalytic Activity Improvement Additives
- Product Distribution Improvement Additives
Market segment based on Application:
- Crude Oil Processing
- Fluid Catalytic Cracking
- Hydroprocessing
- Others
Market segment based on Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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Table of Contents:
1 Market Overview
2 Manufacturers Profiles
3 Global Refinery Process Additives Market Competition, by Manufacturer
4 Global Refinery Process Additives Market Analysis by Regions
5 North America Refinery Process Additives by Countries, Type, Application and Manufacturers
6 Europe Refinery Process Additives by Countries, Type, Application and Manufacturers
7 Asia-Pacific Refinery Process Additives by Countries, Type, Application and Manufacturers
8 South America Refinery Process Additives by Countries, Type, Application and Manufacturers
9 Middle East and Africa Refinery Process Additives by Countries, Type, Application and Manufacturers
10 Global Refinery Process Additives Market Segment by Type
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Refinery Process Additives Market Revenue & Demand Analysis to 2026: Top Key Players- Albemarle, Arkema, Baker Hughes, BASF, Cestoil, Chevron Corporation
This report on the refinery process additives market offers a thorough analysis of the size, share, demand, growth, gross profits, earnings, and revenue of the industry.