Refining additives are crucial components in the petroleum industry, enhancing the efficiency and performance of refining processes. These specialized chemicals, such as catalysts and inhibitors, facilitate the removal of impurities and enable the production of high-quality fuels and petrochemical products. By optimizing refining operations, these additives contribute to reduced emissions, increased yield, and improved product quality, playing a pivotal role in the energy sector’s sustainability and profitability.
As per the recent research conducted by a leading market insights provider FMI, the global Refining Additives market size will expand at a healthy CAGR over the forecast period between 2022 and 2027. The aim of this study is to analyze key market dynamics affecting the sales of Refining Additives and provide vital insights to business owners to get benefited from forthcoming opportunities.
The report conducts an in-depth analysis into factors affecting the change in consumer behavior and purchasing patterns. It highlights the key growth prospects for the demand and sales across seven major regions. It also provides refines sales projections and assist market players in identifying the remunerative segments among the verticals.
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Upsurge in the Trend of Green Chemistry to Facilitate the Growth in the Refining Additives Market
Governments of several countries are emphasizing on implementing regulations on chemicals that are hazardous for environment, owing to the rising concerns regarding environment sustainability. Hence, growing trend of green chemistry or sustainable chemistry is being witnessed across the chemical industry.
Citing this trend, chemical manufacturers are reviewing their business strategies and shifting their focus towards adopting eco-friendly practices for the production of sustainable alternatives or less toxic chemicals. This is expected to favor the growth in the Refining Additives market.
Key Refining Additives Market Takeaways and Projections
- The US will lead the North America Refining Additives market, projecting the fastest growth in the region between forecast period
- Germany will collectively hold the largest share in the Europe market over the assessment period.
- India will emerge as a highly remunerative market in South Asia, contributing significant revenue share in the region through forecast period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- In terms of segments, will hold the lion’s share in the market, expanding at a robust CAGR during the next ten years.
Competitive Landscape Analysis
The survey offers insights into critical trends and opportunities across technology industry and studies their impact on demand-supply forces in the Refining Additives market. It also profiles a list of prominent companies including
- GE Power & Water
- Albemarle Corporation
- The Lubrizol Corporation
- BASF SE
- Dorf-Ketal Chemicals India Private Limited
- Johnson Matthey PLC
- Clariant AG Switzerland
- NALCO Champion (Ecolab)
- Exxon Mobil Corporation
- Chevron Corporation
- Amspec ,LLC
- Infineum International Ltd
- Evonik Industries Ag
- Total SA
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Key Segments Profiled in the Refining Additives Industry Survey
By Product type, the refining additives market can be segmented as:
- Stabilizers
- Corrosion Inhibitor
- Hydrogen Sulfide Scavenger
- Antioxidants
- Antifoulants
- Defoamers
- Catalyst Regenerators
- Biocides
- Amine Solutions
- Cetane number improver
- Octane booster
- Others
By Application, the refining additives market can be segmented as:
- Crude Oil Processing
- Fluid Catalytic Cracking
- Hydroprocessing
- Other
Why Buy FMI’s Report?
- Extensive analysis on high growth niche markets across major regions
- Detailed assessment on key segments and sub-segments
- Recent and upcoming strategies tracked of manufacturers for the Refining Additives market
- Reliable information on new product launches, technological advancements, and more
- Valuable insights on the impact of regulatory framework on the global Refining Additives market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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