Published on : Jan 08, 2020
A recent market research report added in the vast repository of ResearchMoz gives information about the global alkylate market and its overall working dynamics. This report on the alkylate market provides comprehensive analysis, market shares, key trends, opportunities, and driving and restraining factors that are influencing the growth of the market. Along with in-detail market segmentation, the research report offers key insights and information that are imperative for devising decisive marketing strategies.
Alkylate is a component with a high octane blend. This high-octane component is used in applications such as aviation gasoline and motor gasoline. Alkylate is manufactured with the help of reaction of light olefins such as butylenes. It is also manufactured from steam cracking units consisting isoparaffins such as isobutane with the presence of a catalyst that is acidic in nature. Alkylates is also produced from fluid catalytic cracking units and from refinery sources as well. It is expected that the global alkylates market will have a steady growth rate over the duration of the given forecast period of 2018 to 2025.
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One of the biggest driving factors for the growth of the global alkylate market is the growing utilization of these alkylates in the automotive as well as the aviation industry. This growing use of alkylates is because of the several benefit is that it offers such as low vapor pressure, low content of sulfur, and low content of aromatics among others. In addition to this, there has been a growing adoption of alkylate in the automotive sector. This rise is because of its low volatility hydrocarbon and high octane properties. These properties are very helpful for enhancing the aviation and automotive fuel. Moreover, the fuel is also compliant to the strict volatility and emission regulations.
Increasing demand for alkylate gasoline among the applications of forestry is also projected to push the overall development of the global alkylate market in the near future. Alkylate gasoline is being increasingly used across applications such as leaf trimmer, snow throwers, outboard engines, chainsaws, and lawnmowers among others. Such growing use and increasing demand is thus likely to help the development of the global alkylate market.
On the basis on type of alkylate, the global market is segmented into hydrofluoric acid alkylation and sulfuric acid alkylation. Among these, the segment of sulfuric acid alkylation is expected to exhibit a promising CAGR.
Depending on the application, the global alkylate market is divided into aviation industry, automotive industry, and others. The segment of automobile industry is expected to be the strongest contributor for the development of the global market in the coming years. With the increasing amount of automotive sales coupled with favorable properties of alkylate is expected to drive the growth of the segment.
Asia Pacific to Lead Market Growth
In terms of geographical segmentation, the global alkylate market is divided into five major regional segments. These regional segments are North America, Latin America, Asia Pacific, Middle East and Africa, and Europe. For the duration of the given forecast period of 2018 to 2025, the regional segment of Asia Pacific is expected to exhibit a promising growth rate. The growth of the regional segment is because of the presence of several emerging economies such as India and China that are showing massive growth in the respective end use application sector of alkylates. China in particular is expected to play a major role in the development of the alkylate market in the Asia Pacific region.
Some of the leading players in the global alkylate market include names such as Ningbo Haiyue New Materials Co. Ltd., Valero Energy Group, and Reliance Industries among others.