Middle Distillate Refining Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019
- Transparency Market Research
- Ongoing
- Refining
Report Description
Globally refiners continue to face
several challenges as environmental policies are becoming increasingly
stringent. The profitability of refiner’s is influenced because of
strict regulations on sulphur content of gasoline & diesel oil and
curbs on refinery emissions. Agencies such as the International Maritime
Organizationhas already proposed changes in specifications of bunker fuel
oil. These regulations will drastically impact the refinery’s
profitability which would then have a tough time increasing or maintaining
current refining margins. Thus those refineries which currently produce a
substantial amount of residual oil and lack the complexity to upgrade it to
middle distillates will face difficulties. They either have to invest in
commercially proven and reliable solutions to convert residual oil to more
valuable liquid products or face a threat to shut down the refinery as the
operation becomes uneconomicalto continue. With the increasing crude oil
prices and growing demand for middle distillates refiners have felt the
need to invest in this segment.
The increasing demand for middle
distillates is one of the primary driver for this market. With strict
environmental norms, the need to install upgradation units is becoming a
necessity if refiners want to stay in the market. Globally the production
of sweet grade crude oil has declined and is costly if compared to sour
grade crude. Thus to maintain the refining margins the refineries need to
install upgradation units and increase the productivity of middle
distillates.The decision on which technique to use must be arrived at
before installation of such upgradation units. Some of the market
restraints hindering adoption of such units include huge capital
investments, high replacement lead time of the new unit with the older one.
However as the demand for high sulphur products is in a downtrend due to
strict environment policies, refiners need to invest in conversion units in
future. Thus there is definitely an opportunity for players who wish to
providerefiningsolutions in this market segment.
Middle distillates can be obtained
using a number of process units. The common processes are: Distillate
hydrotreater, Fluid catalytic cracking, Reforming, Hydrocracker, and
Visbreaking. The decision on which process to adopt depends on the sulphur
content of the crude oil and the configuration of end products desired. All
these techniques are adopted by refineries to break down heavy fractions
into more valuable lighter products. These refining processes are also used
to remove or lower the impurity content present in the refined products,
depending upon the market needs.
The current demand for middle
distillates is not only expected to grow in the US, Europe but also in the
emerging markets. Currently refining investment is mainly made in
Asia-Pacific especially China and India, theMiddle East, Russia and
LatinAmerican regions. This is because of increasing demand for refined
products in these regions. Existing refineries in these areas have to
invest in deep conversion units to comply with the strict product
qualityspecifications. Some of the major players present in this market
segment are Warren Letzch, Honeywell UOP and Grooves Equipments.
This research report analyzes this
market depending on its market segments, major geographies, and current
market trends. Geographies analyzed under this research report
include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides
comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints. It
provides market projections for the coming years. It includes analysis of
recent developments in technology, Porter’s five force model analysis
and detailed profiles of top industry players. The report also includes a
review of micro and macro factors essential for the existing market players
and new entrants along with detailed value chain analysis.
Reasons for Buying this
Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
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