Aviation and Automobile Sectors to Hold Major Share in Alkylate Industry: Fact.MR
Published : 16 Apr 2021 Industry: Chemical & Materials
Sales of alkylate are gaining traction again as key end-use sectors such as agriculture, electronics, automobiles and others get back to their normal growth trajectories after the initial shocks of the COVID-19 pandemic. Demand for solvents to remain high over the coming years, especially from aviation and automobile industries.
The latest by Fact.MR thoroughly analyzes global industry potential and growth scope for manufacturers and suppliers during the forecast period of 2021 to 2031. According to the report, North America, Europe, and Asia Pacific will remain leading regional markets throughout the forecast period. Overall, the global alkylate market is slated to expand at a steady CAGR of around 2.5% through 2031.
Key Takeaways from Market Study
- Solvents and surfactants & synthetic sulfonates to fuel sales
- High demand for sulfuric acid alkylation process likely to be witnessed
- Growing requirement from aviation and automobile sectors to bolster demand growth
- The United States remains one of the dominant regional markets
- Germany to maintain its lead in the alkylate industry in Europe
- The market Asia Pacific to exhibit fastest growth throughout the forecast period
- China, Japan, India, the United Kingdom, Canada, and France to maintain positive industry outlook over the coming years
“With key end-use sectors getting back on track, suppliers of alkylate are subject to impressive growth. Furthermore, growing demand for hydrofluoric acid alkylation and sulfuric acid alkylation is set to raise the profit margins for manufacturers in future,”
says a Fact.MR analyst.
How is Demand from Automobile Sector Boosting Sales of Alkylate?
Alkylate is extensively used in the automobile industry, as adding alkylate to motor gasoline helps in increasing octane while meeting stringent volatility specifications. Though the automobile sector declined temporarily in 2020, recovery has started and demand from this sector is projected to grow significantly over the coming years.
According to a report titled “Automobile Industry Spotlight”, published by SelectUSA, the United States automotive industry is one of the largest industries in the world, while almost every major European, Japanese, and Korean automaker producing vehicles and investing more than US$ 75 billion in the country. As stated in the report, U.S. affiliates of majority foreign-owned automotive companies directly support more than 400,000 U.S. jobs. These statistics give an estimation of the growing opportunities for alkylate suppliers not only in the U.S. but around the globe.
Who is Winning in this Space?
The global market is getting tougher in terms of competition. In order to capitalize on the growing opportunities, key players are diversifying their products.
- Reliance launched its new range of Linear Alkyl Benzene and Paraffin (HP/HNP/LNP) a couple of years back.
- Marathon Petroleum recently launched its new range of Marathon Alkylation Feed, Marathon Gas Alkylation Feed, and others.
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the alkylate market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of production process (sulphuric acid alkylation, hydrofluoric acid alkylation, and others), end use (aviation, automobile, agriculture, electronics, and others), and application (solvents, surfactants & synthetic sulfonates, specialty lubricants, functional fluids, additives, and others), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Chemicals & Materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the Chemicals & Materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Consultant - Chemicals & Materials