Analysis of Alkylate Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global alkylate market is valued to be US$ 84.1 billion in 2023 and it is anticipated to grow at a CAGR of 2.5% to reach US$ 107.7 billion by the end of 2033.
Alkylate is widely used in various pesticide formulations such as insecticides, pesticides, herbicides, and fertilizers. Hence, demand for the alkylate is increasing with the rise in agricultural practice. Further, alkylate is commonly used to increase the octane rating of major fuels (including gasoline).
Alkylate Market Size (2022A)
US$ 82.1 Billion
Estimated Market Value (2023E)
US$ 84.1 Billion
Forecasted Market Value (2033F)
US$ 107.7 Billion
Global Market Growth Rate (2023-2033)
Key Companies Profiled
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Alkylate is becoming more and more popular in the automotive sector, especially in developed and emerging markets. The market is driven by an increasing number of hybrid vehicles on the road and increasing government commitment to market development.
Alkylate is used as a key ingredient in the production of clean high-octane gasoline from 100% isobutylene feedstock. Using this raw material, companies develop innovative technologies that significantly increase the octane rating of their products.
According to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 2.5% CAGR between 2023 and 2033.
“Growing demand from Automotive & Agricultural Industry”
Increased government spending on the end-use sector such as agriculture, automotive, and aerospace and increased research and development (R&D) activity by alkylate producers are expected to continue to drive alkylate demand.
For manufacturing the refined product, alkylate is in high demand because alkylates are extensively utilized in the refining industry for fuel manufacture due to the high octane numbers achieved by transforming low molecular weight alkenes to alkylates in the presence of sulfuric acid or hydrofluoric acid and thus, it is expected to boost the alkylate market over the period.
Alkylates are used as fuel additives to attain high octane numbers and low vapor pressures. Global demand for high-efficiency gasoline in the automotive sector and an increase in the production of oil (barrels per day) are anticipated to rise the demand for alkylates in the upcoming year.
As crop cultivation becomes more common around the world, modern agricultural practices rely more and more on agrochemicals to improve production capacity and decrease damage to crops, and with the expansion of the agricultural industry across the globe demand for alkylate is increasing as it is used in the formulation of the agrochemicals.
“Alternatives and Drawback of Alkylate: Restrain the Market Growth”
Alkylate is widely used as a fuel additive in the automotive industry. However, the advent of electric vehicles continues to limit the demand for alkylates. Moreover, the availability of alternative fuels may hamper the growth of the global alkylates market during the forecast period.
A major drawback of the alkylation process is the large amount of light hydrocarbons, which are highly flammable and potentially explosive. In addition, acid catalysts are corrosive and toxic, hindering market growth. These shortcomings are estimated to affect the growth rate of the alkylates market.
Investments in the U.S. aerospace industry are assisted by aerospace engineers and other highly skilled workers with experience in the aerospace industry. This provides a glimpse of growing opportunities for alkylate manufacturers around the world.
The United States has been spotlighting alkylates in North America for the past decade. High demand in the automotive and aviation industries and further development of production units are driving domestic sales.
Alkylate is commonly used in the making of alkylate fuel (avgas), an aviation fuel employs in aircraft with spark-ignited internal combustion engines. According to the Aerospace Industry Spotlight published by SelectUSA, the US aerospace industry is the largest in the world, employing approximately 5,09,000 people nationwide in science and technology. Hence, suppliers are therefore targeting the United States to increase their revenue.
China is expected to lead the growing alkylate industry in the world and is expected to maintain its position throughout the forecast period. Moving ahead, the needs of the advanced automotive and aerospace industries are driving the country's demand growth.
As per the report published in Feb 2021, on the aviation market in china, by ITA (International Trade Administration), aviation is China's most promising industry as well as the world’s second-largest and fastest-growing civil aerospace and aviation services business. Hence, manufacturers and suppliers are looking to China to accelerate their sales during the forecast period.
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Solvents are currently the major segment of application in the global alkylates industry and are expected to continue to dominate during the forecast period. Solvents are widely used in various fields such as chemical laboratories, biotechnology research and development activities, and other biological fields.
Alkylation of solvents, especially petroleum-based fuels, is essential because it adds high-octane carbons to automotive and aviation gasoline. This supports auto-ignition to achieve the recommended octane rating.
The increasing incidence of crop infestation has resulted in modern farming methods that rely on pesticides. The expansion of the agrochemical industry has increased the demand for alkylates as they are used in the sulfonation of pesticides such as fertilizers, fungicides, insecticides, herbicides, and pesticides.
Pesticides are chemicals used in agricultural fields to compensate for nutrient deficiencies in fields and crops. It also promotes crop growth by exterminating pests. Pesticides improve the quality of agricultural products. They are widely used in all types of agricultural fields such as dairy farming, horticulture, animal husbandry, cereal farming, commercial plantations, and other types of agricultural practices.
Increasing demand for crop protection products such as fertilizers, fungicides, insecticides, herbicides, and, insecticides is expected to be a major driver of the agrochemical industry. This is estimated to boost the global alkylate market during the forecast period.
Prominent alkylate manufacturers are Reliance Industries Limited, Marathon Petroleum Corporation, ExxonMobil Corporation, PJSC Lukoil Oil Company, Valero Energy Corporation, Royal Dutch Shell Plc, Chevron Corporation, Honeywell International Plc, Janex S.A, Neste Oyj, Soltex Inc, Hengyi Industries Sdn Bhd, and others.
The manufacturers of alkylate are stressing on intensifying their production and manufacturing capabilities, attributed to the increase in demand across key end-use industries. Prominent developments in the alkylate industry are mentioned below
Fact.MR has provided detailed information about the price points of key manufacturers of alkylate positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
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The alkylate market size is estimated to reach US$ 84.1 billion in 2023.
The projected CAGR for the alkylate market from 2023 to 2033 will be 2.5%.
Market players include Reliance Industries Limited, Duromer Products Pty Ltd Marathon Petroleum Corporation, and Honeywell International Plc. Which are majorly operating and dominating in the market.
Factors such as growing demand for Alkylate from the expanding agricultural industry and electrical & demand for high-efficiency gasoline in the automotive sector are anticipated to increase the sales growth of alkylate.
The global alkylate market size reported by Fact.MR for 2022 was US$ 82.1 billion.
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