The worldwide fuel oxygenates market is expected to grow as more green technologies are adopted in the manufacturing of fuel oxygenates. The rise of bio-based fuel oxygenates to minimize smog-forming precursors such VOCs generated by cars is driving up demand for fuel oxygenates in the automotive and transportation industries. Bio-ether-based fuel oxygenates improve fuel quality by reducing CO2 emissions throughout their lifecycle and providing superior balance between the high- and low-speed octane ratings (Motor Octane Number MON and Road Octane Number RON) required by current vehicles. As a result, demand for green fuel oxygenates is likely to skyrocket in the coming years, as they help cut down on fuel usage, prices, and emissions. The global fuel oxygenates market is expected to be driven by increased demand for green fuel oxygenates in transportation, vehicle fleets, cargo shipping, automotive, industrial, and commercial industries. The market for fuel oxygenates is expected to be hampered by an increase in the adoption rate of electric vehicles among consumers around the world.
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Market Trends
- KBR, Inc. has purchased RRT Global’s isomerization technologies, allowing it to provide customers with higher octane and clean fuel technology solutions. KBR has acquired the patented technology as well as the intellectual property rights to deliver MAX-ISOM and isomerization technologies for C4 and C7 streams around the world.
- In India, TVS introduces the first ethanol-powered motorcycle. The government believes that using ethanol as a fuel will lessen reliance on imported oil while simultaneously improving energy security.
- The Porocel Group, based in Houston, was acquired by Evonik (USA). Evonik’s Catalysts portfolio is being expanded to include activities in the areas of desulfurization catalysts and adsorbents. Evonik’s catalyst business will be able to grow faster as a result of this acquisition.
- LyondellBasell, a leading global supplier of high-performance plastic compounds, composites, and powders, has purchased A. Schulman, Inc., a leading global supplier of high-performance plastic compounds, composites, and powders. This acquisition leverages LyondellBasell’s complementary strengths, delivering a significant value offer to clients and preparing the company for future growth in this market.
Key Market Players
- Evonik Industries
- Fluor Corporation
- LyondellBasell
- Panjin Heyun Industrial Group Co., Ltd
- PETRONAS Chemicals Group Berhad
- ProTec International
- Qatar Fuel Additives Company
- Royal Dutch Shell plc
- Saras S.p.A
- Saudi Basic Industries Corporation (SABIC)
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Key Benefits of the Report
- This study presents the analytical depiction of the fuel oxygenates industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Fuel oxygenates market share.
- The current market is quantitatively analyzed from 2020 to 2030 to highlight the fuel oxygenates market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Fuel oxygenates market analysis based on competitive intensity and how the competition will take shape in coming years
COVID-19 Impact analysis
- The rapidly expanding impact of the COVID-19 epidemic on the global business sector is now having catastrophic implications. The market for fuel oxygenates, like all other major sectors, is experiencing a decline in growth.
- Because most of the country’s ports are currently blocked, North America, which is one of the largest consumers of fuel oxygenates, is seeing a decline in shipments. As a result, demand for Fuel Oxygenates has been impeded around the world, affecting the Fuel Oxygenates Market significantly.
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