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MLDW Technology Market Portrays High-End Demand across Major Geographies During 2018 to 2028 // Bulging key player - Exxon Mobil Corporation, Honeywell’s UPO, Shell Chemicals, Saudi Aramco Luberef Jeddah Refinery
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MLDW technology is a low-cost technology suitable for solvent-extracted and hydrocracked feeds. MSDW technology has been recently introduced for hydroprocessing. MLDW technology is a widely practiced process and is being used in several chemical domains for different purposes.
The Mobil Lube Dewaxing (MLDW) process was first introduced in the mid-1970s to reduce process cost and get improved oil quality. Mobil Oil Corporation introduced several hydro-processing catalysts as an alternative to conventional solvent processing.
Currently, the lube refining industry is at a developing stage with catalytic dewaxing and MLDW technology gathering momentum as replacements for solvent extraction and solvent dewaxing. Dewaxing is the process of removing impurities from liquids, such as diesel, by chilling, pressing, or treatment with a solvent. Lube products are attracting investments owing to their usage in refinery fields.
At present, due to technological and automotive advancements, the demand for new vehicles is increasing every year, which is fuelling the growth of the automotive market. In the Asia-Pacific region, growth in the population and increasing affordability of vehicles & the availability of a variety of vehicles for customers to choose from are also among factors boosting the MLDW technology market.
In addition, MLDW technology is widely practiced as an alternative to solvent dewaxing. MLDW technology is one of the most convenient options for solvent dewaxing. This process can deal with a wide range of feedstock and produces high-octane gasoline and LPG by cracking paraffin. These factors are fuelling the growth of the gasoline and LPG market, due to the low cost of MLDW technology.
The MLDW technology market is also witnessing growth due to the growing petroleum refining market, as MLDW technology is used for microcrystalline wax removal, which is used when different functions are needed in the paraffin. Paraffin is widely used in the cosmetic industry, which is another factor boosting the MLDW technology market. Moreover, the cosmetic industry has increased in size in various regions, which is, in turn, contributing to the growth of the MLDW technology market.
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On the other hand, the presence of several other technologies for dewaxing in the market, such as the BP process and Chevron process, is likely to restrict the growth of the MLDW technology market. In addition, increase in the outreach of new cosmetic industries in several regions is another factor that is likely to affect the growth of the MLDW technology market. In addition, the introduction of new technologies for catalytic dewaxing is another factor that is likely to hamper the growth of the NLDW technology market.
However, government organizations are increasingly supporting the clean energy sector. Naphtha and LPG are being widely produced from natural gas. These are some of the factors that are likely to benefit the MLDW technology market. Furthermore, MLDW technology is used for lubricants, paraffin wax, gasoline, LPG, and solvent dewaxing, hence, the market is expected to be driven by the growth of the industrial equipment, cosmetics and natural gas sectors.
In Asia-Pacific, there has been an increase in the adoption beauty and grooming products. Moreover, the population is interested in exploring new cosmetic products, which is a key factor fuelling the growth of the cosmetics market, which is, in turn, boosting the MLDW technology market in this region. Japan is among the leading MLDW technology markets in the Asia Pacific region. Moreover, the automotive industry in the Asia Pacific and Middle East regions has been witnessing rapid growth, owing to which these regions are expected to be prominent markets for MLDW technology. MLDW technology is being effectively used to produce lubricants and paraffin wax.
Due to the presence of a large oil & gas market, the MLDW technology market in the North America region is also estimated to be a prominent market, with the U.S. being one of the key countries in the region. The U.S. market is expected to continue to witness growth in the coming years.
On the other hand, due to the presence of major natural gas reserves, the Brazil MLDW technology market is expected to majorly contribute to the growth of the global MLDW market. As the Middle East dominates in the oil reserve departments, the MLDW market is expected to witness growth in this region.
Examples of some of the participants operating in the global MLDW technology market are Exxon Mobil Corporation, Honeywell’s UPO, Shell Chemicals, Saudi Aramco Luberef Jeddah Refinery, Zibo Qixiang Petrochemical Industry Group Co. Ltd., Cetex Petrochemicals, and Tasco Chemical Corporation.
The MLDW technology market research reports present a comprehensive assessment of the MLDW technology market and contains thoughtful insights, facts & historical data, statically supported and industry-validated market data. It contains projection using a suitable set of assumptions and methodologies. The MLDW technology market research report provides analysis and information according to MLDW technology market segment such as geography, application and industry.
The MLDW technology market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The MLDW technology market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with the market attractiveness as per segments. The report also maps the qualitative impact of various factors on the MLDW technology market segments and geographies.
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