Emulsified fuels market to reach $ 20.8 billion by 2030: Allied
Portland, OR, September 20, 2021 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the emulsified fuel Marlet generated $ 13.8 billion in 2020 and is expected to reach $ 20.8 billion by 2030, with a CAGR of 4.2% from 2021 to 2030. The report provides a detailed analysis of the changing dynamics market, major segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Renewed interest in reducing carbon emissions, no further upgrade requirement, improved engine performance is driving the growth of the global emulsified fuel market. However, competition from other renewable energy sources and lack of awareness and standardization restrict the market to some extent. On the other hand, favorable government policies encourage cleaner and greener sources of energy, which in turn presents new opportunities in the years to come.
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- The outbreak of the COVID-19 pandemic has resulted in the global lockdown and temporary shutdown of emulsified fuel industries, negatively affecting all production and manufacturing facilities.
- The pandemic has also caused disruptions in the supply chain, leading to difficulties in the supply of raw materials and finished products. This, in turn, affected market demand and reduced sales.
- Gaps between supply and demand, price volatility and changes in government policy are expected to affect the growth of various end-use industries. Nevertheless, the market is expected to experience significant growth in the post-pandemic period.
The report offers detailed segmentation of the global emulsified fuels market on the basis of type, application, and region.
On the basis of type, the heavy oil segment held the highest market share in 2020, holding nearly three-fifths of the total market share, and is expected to maintain its leading status during the forecast period. However, the kerosene segment is expected to register the highest CAGR of 4.5% from 2021 to 2030.
Get a detailed analysis of the impact of COVID-19 on the Emulsified fuel Marlet Ask here
On the basis of applications, the maritime segment held the largest market share in 2020, holding more than half of the total market share, and is expected to maintain its leading status during the forecast period. Additionally, this segment is expected to register the highest CAGR of 4.3% from 2021 to 2030.
Depending on the region, Asia-Pacific has contributed to the highest share in terms of revenue in 2020, holding nearly two-fifths of the global emulsified fuels market share, and is expected to retain its dominant share through 2030. In addition, Asia-Pacific is expected to post the fastest CAGR of 4 , 4% over the forecast period.
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The major global emulsified fuels market players analyzed in the research include Alternative Petroleum Technologies, Blue Ocean Solutions, Eneco Holdings, Green Fuels NZ Limited, Nanofuel Co., Ltd., Noritake Co. Limited, Quadrise Fuels International plc., SulNOx Group PLC, Tecnoveritas and TotalEnergies.
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