Kerosene Market Size is Expected To Grow at a CAGR 4.9% By 2030 | Reports and Data

Reports and Data estimates the global Kerosene competitive landscape is highly fragmented with numerous players operating on a global and regional scale. The key companies in the market are engaged in mergers and acquisitions, joint ventures, collaborations, and product launches to gain a robust revenue growth over the forecast period. The report considers 2020-2021 as historic years, 2020 as the base year, and 2022-2028 as the forecast period. The report offers CAGR and market size for the global Kerosene during the forecast period.

The report also offers key insights about the top companies operating in the market and their market share and global position along with product portfolio and advancements. The top companies in the market include Royal Dutch Shell plc, Exxon Mobil Corporation, Chevron Corporation, Total SA, China National Petroleum Corporation, Bharat Petroleum Corporation Limited, ConocoPhillips, FINA Petrochemicals Company, and Gazprom Neft PJSC.

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Kerosene Overview :-

The global kerosene market is expected to register a revenue CAGR of 4.9% between 2022 and 2030. Rising demand for kerosene, particularly in developing countries, is a major factor driving market revenue growth. In addition, the rise in crude oil prices and growing industrial sector are other major factors expected to drive revenue growth of the market during the forecast period. Another major driving factor for market revenue growth is application of kerosene in wick-fed lamps as it provides a smokeless and odorless flame. However, toxicity of kerosene and its impact on human health could restraint market revenue growth to some extent. Another major restraining factor for market revenue growth is easy availability of substitutes such as LED lights, and solar power, among others. Also, implementation of stringent environmental regulations regarding use of kerosene is another factor that could hamper revenue growth of the market.

The global kerosene market has been segmented on the basis of type, application, and region.On the basis of type, the market has been segmented into aviation kerosene and non-aviation kerosene. The non-aviation kerosene segment is expected to register higher revenue CAGR during the forecast period due to rising demand for non-aviation kerosene from various end-use industries. Non-aviation kerosene is used in a variety of applications such as cookstoves, space heaters, water heaters, and in wick-fed lamps. The aviation kerosene segment is expected to register a moderately high revenue CAGR during the forecast period, due to increasing air travelers and expanding aircraft fleet, coupled with rising need for aviation kerosene as a fuel in aircraft.

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For the purpose of this report Reports and Data has segmented global Kerosene market on the basis of type, application, and region:

Type Outlook (Revenue, USD Million; 2019-2030)

Aviation kerosene
Non-aviation kerosene

Application Outlook (Revenue, USD Million; 2019-2030)

Aviation
Residential
Commercial
Transportation
Industrial

Key Regional Markets Covered in the Report:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

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 Key Questions answered by the Report:

What is the expected year-on-year growth of the Kerosene during the forecast period?
What key trends are expected influence revenue growth of the market going ahead?
Which region is expected to account for largest revenue share over the forecast period?
Which key companies are profiled in the report?

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