Global Crude Oil Desalter Market 2018-2022 | Increase in Refining Capacity to Improve Demand | Technavio
LONDON--(BUSINESS WIRE)--Aug 17, 2018-- analysts forecast the global crude oil desalter market to grow at a CAGR of nearly 2% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global crude oil desalter market from 2018-2022. (Graphic: Business Wire)
The integration of refinery and petrochemical operations is one of the major trends being witnessed in the . Petrochemical products include polyethylene, fertilizers, and industrial chemicals. Such products are used in various industries. Petrochemicals are used in industries such as construction, packaging, agriculture, textiles, and manufacturing. The demand for petrochemical products in high in several industries and is expected to increase during the forecast period.
According to Technavio analysts, one of the key factors contributing to the growth of the global crude oil desalter market is the increase in refining capacity:
Global crude oil desalter market: Increase in refining capacity
The growth in demand for oil has led to an increase in the global refining capacity. Desalters are used in petroleum refineries to separate the components of complex crude mixtures such as gasoline and diesel. Thus, the increase in global refining capacity drives the growth of the global crude oil desalter market.
According to a senior analyst at Technavio for research on oil and gas, “In 2009, there was a decline in refining capacity, however, it grew steadily between 2010 and 2014. The capacity of refineries is expected to increase steadily during the forecast period owing to the growing demand for oil globally. Thus, the increase in refining capacity will drive the growth of the global crude oil desalter during the forecast period.”
Global crude oil desalter market: Segmentation analysis
The global crude oil desalter market research report provides market segmentation by product (multi-stage desalter and single-stage desalter) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The multi-stage desalter segment held the largest market share in 2017, accounting for nearly 72% of the market. This product segment is expected to dominate the global market throughout the forecast period.
EMEA led the market in 2017 with a market share of nearly 37%. The region is expected to dominate the market through 2022, however, there will be a decrease in its market share.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY OIL/GAS OTHER ENERGY TECHNOLOGY OTHER TECHNOLOGY
SOURCE: Technavio Research
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PUB: 08/17/2018 09:19 AM/DISC: 08/17/2018 09:19 AM