Persistence Market Research
Introduction: Non aromatic Fuels Market
Researchers, scientists, and various commercial institutions are striving to develop a perfectly combustible product which can bring about complete combustion of fuels and full utilization of the generated power. Moreover, rising concerns regarding the depletion of natural resources which are used for the production of fuels and associated emission, which, in turn, harm the environment are the main reason for shift of many industries towards alternative fuels, which are economical and eco-friendly.
The various properties of the fuel used, determine the emission and performance of fuel operated engines. The fuel used is a complex mixture of hydrocarbons which include Non aromatic, mono-aromatic and poly-aromatic hydrocarbons. The fuels are divided into two categories -- aromatic fuels and Non aromatic fuels. Non aromatic fuels, also called as ultra-low aromatic fuels, belong to the class of straight chain hydrocarbons. Nonaromatic fuels have lighter molar mass as compared to aromatic fuels.
Composition of Non aromatic fuels majorly depends on the cetane number of the fuel. In case the cetane number is higher, the concentration of Non aromatic fuels increases. Non aromatic fuels are effective alternatives to conventional fuels; these hydrocarbon fuels find applications across various industries and are used as fuels in chemical intermediates, metal working fluids, and many more.
Conventional fuels are composed of relatively higher levels of aromatic contents and hence, are characterised by relatively higher levels of organic components too. Growing concern about ill-effects of fuels, which includes their high VOC content, is leading to an increase in demand for Non aromatic fuels. The trend is expected to continue during the forecast period. Stringent policies and regulations have resulted in end users switching to Non aromatic fuels— products that are equally effective but contain relatively low levels of VOCs. Non aromatic fuels are produced through a complex process which requires a controlled environment to ensure the safety of personnel and process operation.
Market Dynamics: Non aromatic Fuels Market
Unavailability of substitutes of traditional conventional fuels such as petroleum, coal, natural gas, stringent regulations related to VOC emission and steady growth of end use industries are some of the positive factors expected to drive the growth of the Non aromatic fuels market during the forecast period. However, along with these positive factors, there are some negative factors that are likely to restrict the growth of Non aromatic fuels market. These include growing consumption of bio-based product offerings and relatively slow growth in developing regions. Major players in the Non aromatic fuels market are making efforts to create and offer aromatic fuels that are tailored for specific end-use requirements. These days, key players are offering high value-added fuels to increase their revenue share in the global market. The growing consumption in developing region is expected to create new trends in the Non aromatic fuels market over the forecast period. On the basis of geographical region, Asia Pacific is expected to lead the demand for Non aromatic fuels market followed by North America and Western Europe.
Market Segmentation: Non aromatic Fuels Market
The Non aromatic fuels market is segmented on the basis of application and product types.
On the basis of application, the Non aromatic fuels market is segmented into:
On the basis of product types, the Non aromatic fuels market is segmented into:
Regional Outlook: Non aromatic Fuels Market
Asia-Pacific held a significant revenue share of the global Non aromatic fuels market in 2016 and the market in the region is projected to increase at a healthy CAGR over the forecast period. The consumption of Non aromatic fuels in Asia-Pacific is anticipated to increase with highest CAGR during the forecast period. Mature markets, i.e. Western Europe and North America are expected to register relatively sluggish growth during the forecast period.
Some of the key players in the Non aromatic fuels market are:
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