Global Refinery Process Additives Market Poised to Witness CAGR of 4.1% Through 2023

Market Research Hub (MRH) has freshly announced the inclusion of a study titled “Global Refinery Process Additives Market 2018 by Manufacturers, Regions, Type and Application, Forecast to 2023” to its wide repository, which provides readers a clear picture of the current scenario of the market, with a prime focus on major regions. Prime regions analyzed in the report include Asia Pacific, Europe, North America, South America, and the Middle East and Africa (MEA).

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This 147-page report also includes key developments taking place in the refinery process additives industry including the events that took place in the past and the events that are likely to take place during the forecast period 2018-2023. As per the report recent findings, the worldwide market for Refinery Process Additives is expected to grow at a CAGR of 4.1% over the next five years, and it will reach 1710 million US$ in 2023, remarkably high from its valuation of 1400 million US$ in 2017.

To elaborate further, firstly the report describes the scope of the analysis along with the current market overview of refinery process additives. This section covers introduction, product scope, market opportunities, market risk, as well as market driving force. The qualitative information in the report, including the assessment of market dynamics, offers readers detailed information on the key factors that are shaping the global refinery process additives market.

Major Market Insights

Refineries are important parts of the oil industry. Refinery process additives are added during the refining process. They can also be used to recover the performance of particular end-product specification such as diesel or gasoline. Presently, the use of refinery process additives is limited to the oil & gas industry. This study highlights the market scenario on the basis of application process, which includes crude oil processing, hydroprocessing, fluid catalytic cracking and others. Of them, crude oil processing is the largest application of refinery process additives, with the market share of 60.01% in 2016.

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Moving further, the research highlights major types of additives which are product quality improvement additives, raw oil quality & catalytic activity improvement additives, environmental protection additives, extend operating cycle and reduce energy consumption additives; and product distribution improvement additives. For each segment, the research presents details of sales, revenue and market share by key countries in the above-mentioned regions.

Another vital section of the report is competitive landscape featuring some of the top companies, their products and business strategies, and their standing in the global market. For FCC additive market, presently, the leading suppliers are BASF, Albemarle, Grace Catalysts Technologies and Johnson Matthey (Interact), which are also the largest suppliers of FCC catalyst in the worldwide. For the readers, the projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market.

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This release was published on openPR.