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Reforming Unit Market - Industrial Forecast On Global Industry Analysis and Trends till 2024
Reforming Unit Market
Reforming unit, also known as thermal reformer, helps run a catalytic process that converts low octane naphthas into higher octane reformed products. With the growing environmental concerns, the demand for higher octane reformates for gasoline blending and hydrogen for other refinery operations is escalating in order to meet the requirements for clean fuels. The byproduct of the dehydrogenation process, hydrogen gas, is useful for hydrocracking and other processes throughout the refinery. The other products of reforming are light gases and high-octane gasoline blended component called reformate. Consequently, the global market for reforming unit is projected for a healthy growth rate during the forecast period of 2016 to 2024.
This report on global reforming unit market is an in-depth analysis of all the major factors that are expected to influence the demand over the course of next few years. It also highlights some of the trends in the market for the players to make most of the untapped opportunities. The report also contains a dedicated section on company profiles wherein several prominent players in this market have been analyzed for their market share, geographical presence, and recent developments. The global reforming unit market can be segmented on the basis of reforming process, into thermal and catalytic reforming.
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Global Reforming Unit Market: Drivers and Restraints
Increased demand for high-octane gasoline and hydrogen gas as byproduct, are two of the primary driver for this market, besides the increased efforts of several governments for clean energy. On the other hand, the market is restrained by the challenge of maintaining the heater outlet temperature of the reactors, which is essential to ensure the quality of the end-products. An unscheduled shutdown of the reforming unit results in significant monetary loss to the company, as the output of other dependent units also suffer.
A thermal reforming unit requires extremely high temperatures to operate, and offer residual products such as residual oil, gas, and gasoline, whereas a catalytic reforming unit utilizes catalysts to combine low weight naphtha, and convert it into aromatics, which are useful in blending gasoline and making chemicals.
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Global Reforming Unit Market: Region-wise Outlook
Geographically, the report studies the opportunities available in the regional reforming unit markets of North America, Europe, Asia Pacific, and Rest of the World. For each of the region, existing valuation have been evaluated, and based on estimated compound annual growth rate (CAGR), estimated valuation of the regions by 2024 have been projected. Currently, North America serves the maximum demand for reforming units due to stringent government regulations for clean energy and availability of latest technology. Asia Pacific reforming unit market too is expected to present lucrative opportunities as it resides nearly half of world’s population and is experiencing rapid urbanization and industrialization.
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