Global Refinery Process Additives Market, By Type (Product Quality Improvement Additives, Environmental Protection Additives, Extend Operating Cycle and Reduce Energy Consumption Additives, Raw Oil Quality and Catalytic Activity Improvement Additives, Product Distribution Improvement Additives), Functionality (Demulsifiers, Desalter, Corrosion inhibitors, Defoamer and Others), Application (Gasoline, Aviation fuel, Residual fuel and Others), Process (Distillation, Cracker, Desulfurization Catalytic Reforming and Others), Crude Type (Low Viscosity Crude Oil, Medium Viscosity Crude Oil, Heavy Viscosity Crude Oil)– Industry Trends and Forecast to 2029.
Global Refinery Process Additives Market Analysis and Size
Refinery process additives are cost effective and efficient additives that are used in breaking water content from the oil. The refinery process additive are added during the refinery process such as distillation process, reformer system, catalytic reforming, desulfurization, and vacuum distillation.
- Data Bridge Market Research analyses that the refinery process additives market is expected to undergo a CAGR of 7.00% during the forecast period. This indicates that the market value, which was USD 2,100 million in 2021, would rocket up to USD 3,860.76 million by 2029. “Low Viscosity Crude Oil” dominates the end use segment of the refinery process additives market owing to the fact that it is increasing awareness about refinery process additives.
Global Refinery Process Additives Market Definition
In layman’s language, refinery process additives are the fuel enhancers which in turn help to improve the performance. A number of additives are used depending upon their functionality. These are effective in separating removing the content of water from the oil.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Product Quality Improvement Additives, Environmental Protection Additives, Extend Operating Cycle and Reduce Energy Consumption Additives, Raw Oil Quality and Catalytic Activity Improvement Additives, Product Distribution Improvement Additives), Functionality (Demulsifiers, Desalter, Corrosion inhibitors, Defoamer and Others), Application (Gasoline, Aviation fuel, Residual fuel and Others), Process (Distillation, Cracker, Desulfurization Catalytic Reforming and Others), Crude Type (Low Viscosity Crude Oil, Medium Viscosity Crude Oil, Heavy Viscosity Crude Oil)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Chevron Corporation (US), Total (France), Westlake Chemical Corporation (US), Mitsubishi Chemical Corporation (Japan), SABIC (Saudi Arabia), LG Chem (South Korea), BASF SE (Germany), 3M (U.S.), Dow (U.S.), DuPont (U.S.), LSB INDUSTRIES (US), Sika AG (Switzerland), Innospec (U.S.), ADEKA CORPORATION (Japan), Dorf Ketal Chemicals (I) Pvt. Ltd. (U.S.), PMC Specialties Group (U.S.), Afton Chemical (U.S.), The Lubrizol Corporation (U.S.), Clariant (Switzerland), LANXESS (Germany), Mayzo, Inc. (U.S.), Solvay (Belgium), Akzo Nobel N.V. (Netherlands), Arkema (France) and Eastman Chemical Company (U.S.)
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Market Opportunities
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Refinery Process Additives Market Dynamics
Drivers
- Growth and expansion influenced the market growth
Growth and expansion of oil and gas exploration industry promoted the direct and indirect growth of this market. Further, surge in increase in the demand for fuel efficient vehicles has positively influenced the growth of the market.
- Growing awareness to direct the market demand and supply
Increased awareness about the benefits of refinery process additives is inducing increased demand and application by the small and medium scale enterprises. Also, growing ingestion of ultra-low-sulfur diesel all around the globe is a positive sign. This in turn is bolstering the growth of the market.
- Rising research and development operations
Increased funding from federal government pertaining to the research and development proficiencies is also bolstering the growth of the market. Research and developmental operations directed towards sustainable development will ensure optimum and judicious use of resources, thereby improving the market value.
Opportunities
- Rise in the technological advancements
Rising technological advancements pertaining to the manufacturing technology is further inducing growth in the market value. Increasing number of technological advancements driven with a view to minimize the production costs and wastage coupled with growth in industrialization has increased the use of roofing materials for sustaining the efficiency of machinery is further ensuring a bright future for the market.
Furthermore, upsurge in the public-private funding for target research activities, high disposable income, rapid urbanization, changing lifestyles and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, rising internet penetration rate, ongoing product development and commercialization, and increasing per capita expenditure will further expand the market's growth rate in the future.
Restraints/Challenges Global Refinery Process Additives Market
- Fluctuating prices
Fluctuations or volatility in the prices of raw materials and machinery equipment is posing a major threat to the growth of the market. Further, uneven availability of raw materials at one particular location is demeaning the growth of the market. Increasing competition and supply the increasing demand and rising global population efficiently without hiking their prices tremendously will further derail the market growth rate.
- Norms, standards and regulations
Imposition of stringent regulations by the government on a wide range of industrial applications pertaining to the industrial activities will further slowdown the market growth rate. Lack of standardization norms, variations in environmental mandates and regulations, new regulations set by governments of various countries concerning air pollution control and change in demand-supply spectrum owing to strengthening of regulations in Asia-Pacific region will further worsen the market situation.
This refinery process additives market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the refinery process additives market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Refinery Process Additives Market
COVID-19 impacted various manufacturing industries in the year 2020-2021 as it led to the closure of workplaces, disruption of supply chains, and restrictions on transportation. Several countries such as China, India, Brazil and many more imposed lockdown in this face which led to the shutdown of production and manufacturing facilities. Oil and gas exploration industry was largely affected by this pandemic which in turn had an adverse impact on the market. Supply chain of numerous manufacturing units was adversely affected in this period leading to a major drop in the revenues and profits. However, with the increasing relaxations, a rise in import and export is significantly expected. Also, shut down of automotive manufacturing facilities further challenged the market growth rate. Respective governing authorities are beginning to lift these enforced lockdowns which is a positive sign for the market.
Recent Development
- In March 2019, Chevron launched Techron fuel treatment solutions for ATVs, UTVs, watercraft, karts, snowmobiles, scooters, and other maintenance equipment engines.
- In January 2019, Brenntag was established as the distributor of Infineum products in the Latin American countries, namely Colombia, Ecuador, Peru, Bolivia, Brazil, and Mexico. Brenntag has been working with Infineum since 1990, and this latest appointment extends the relationship between the parties beyond their existing arrangements in Europe and the Middle East.
Global Refinery Process Additives Market Scope
The refinery process additives market is segmented on the basis of type, functionality, application, process and crude type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Product Quality Improvement Additives
- Environmental Protection Additives
- Extend Operating Cycle and Reduce Energy Consumption Additives
- Raw Oil Quality and Catalytic Activity Improvement Additives
- Product Distribution Improvement Additives
Based on type, the refinery process additives market is segmented into product quality improvement additives, environmental protection additives, extend operating cycle and reduce energy consumption additives, raw oil quality and catalytic activity improvement additives and product distribution improvement additives.
Functionality
- Demulsifiers
- Desalter
- Corrosion inhibitors
- Defoamer
- Others
The refinery process additives market has also been segmented based on the functionality into demulsifiers, desalter, corrosion inhibitors, defoamer and others.
Application
- Gasoline
- Aviation fuel
- Residual fuel
- Others
On the basis of application, the refinery process additives market is segmented into gasoline, aviation fuel, residual fuel and others.
Process
- Distillation
- Cracker
- Desulfurization Catalytic Reforming
- Others
On the basis of process, the refinery process additives market is segmented into distillation, cracker, desulfurization catalytic reforming and others.
Crude type
- Low Viscosity Crude Oil
- Medium Viscosity Crude Oil
- Heavy Viscosity Crude Oil
On the basis of crude type, the refinery process additives market is segmented into low viscosity crude oil, medium viscosity crude oil and heavy viscosity crude oil.
Refinery Process Additives Market Regional Analysis/Insights
The refinery process additives market is analysed and market size insights and trends are provided by country, type, functionality, application, process and crude type as referenced above.
The countries covered in the refinery process additives market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific is expected to score a good growth rate due to the high economic growth rate, growth and expansion of oil and gas exploration industry with prevalence of cheap labour, and trade liberalisation.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Refinery Process Additives Market Share Analysis
The refinery process additives market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to refinery process additives market.
Some of the major players operating in the refinery process additives market are:
- Chevron Corporation (US)
- Total (France)
- Westlake Chemical Corporation (US)
- Mitsubishi Chemical Corporation (Japan)
- SABIC (Saudi Arabia)
- LG Chem (South Korea)
- BASF SE (Germany)
- 3M (U.S.)
- Dow (U.S.)
- DuPont (U.S.)
- LSB INDUSTRIES (US)
- Sika AG (Switzerland)
- Innospec (U.S.)
- ADEKA CORPORATION (Japan)
- Dorf Ketal Chemicals (I) Pvt. Ltd. (U.S.)
- PMC Specialties Group (U.S.)
- Afton Chemical (U.S.)
- The Lubrizol Corporation (U.S.)
- Clariant (Switzerland)
- LANXESS (Germany)
- Mayzo, Inc. (U.S.)
- Solvay (Belgium)
- Akzo Nobel N.V. (Netherlands)
- Arkema (France)
- Eastman Chemical Company (U.S.)
Research Methodology : Global Refinery Process Additives Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-refinery-process-additives-market
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