Market Overview:
The global high sulphur fuel oil market is expected to grow at a CAGR of 3.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for high sulphur fuel oil from the transportation, petrochemical industry and building industry sectors. Additionally, the growing demand for high sulphur fuel oil in Asia Pacific and Middle East & Africa is also contributing to the growth of this market. However, stringent environmental regulations regarding emissions are restraining the growth of this market. Some of the key players operating in this market are Saudi Aramco (Saudi Arabia), ExxonMobil Corporation (U.S.), Royal Dutch Shell plc (Netherlands), BP plc (U.K.), Chevron Corporation (U.S.) and Total SA (France).
Product Definition:
High Sulphur Fuel Oil typically contains 3,000 parts per million (ppm) or more of sulfur. It is a heavy, viscous fuel oil used in large industrial and commercial heating applications.
Heavy Fuel Oil:
Heavy fuel oil (HFO) is a type of liquid petroleum gas. It is produced from distillation of crude oil which has high Sulphur content and it varies with the grade. The major factor that differentiates HFO from other fossil fuels is its density, which ranges between 0.69 and 0.79 depending upon the degree of processing done to obtain it i.e., whether it’s derived from conventional or unconventional sources like tight or shale gas/oil etc.
Light Fuel Oil:
Light fuel oil is a form of petroleum liquid which is extracted from the distillation residue, left after the purification of crude oil. It has a low sulfur content and burns with an orange color. The major application areas for light fuel oil are in diesel engines, stationary power plants, ships and rail road locomotives among others.
The demand for LFO globally was estimated to be around 4 million tons in 2015.
Application Insights:
Petrochemical industry was the largest application segment in 2016 and is expected to grow at a CAGR of XX% over the forecast period. Petrochemical products are manufactured using various raw materials, including fuel oil, which is used as a source of energy in plants. Growing demand for fuel oil from petrochemical plants across the globe owing to its high energy content is expected to drive market growth over the coming years.
High sulphur fuels are widely used by transportation applications due to their ability to reduce harmful exhaust emissions and provide improved engine performance while reducing costs and operating expenses (OEE). The product also helps improve vehicle acceleration, low-speed running (VAC) efficiency, reduces carbon monoxide (CO) emissions by 50%, nitrogen oxide (NOx) by 33% and soot particles by 29%.
Regional Analysis:
Asia Pacific is expected to witness the highest growth rate of 7.8% from 2018 to 2030 owing to increasing demand for high sulfur fuel oil in countries such as China, India, and Japan. The region accounted for over 50% of the global market share in 2017 on account of rising industrial activities coupled with robust economic growth in emerging economies including China and India.
China is projected to be one of the major consumers due to rapid industrialization along with strong economic performance that has resulted into an increase in transportation activities across various cities resulting into high product consumption levels over the forecast period. In addition, growing investments towards construction sector are anticipated would drive product demand further over next eight years.
North America was estimated at USD X million accounting for 6% share of global revenue in 2017 owing a large number heavy industries present across U.S.
Growth Factors:
- Increasing demand for high sulphur fuel oil from the shipping and power generation industries as a result of stringent environmental regulations on emissions.
- Growing demand for high sulphur fuel oil in emerging markets, especially in Asia Pacific, as a result of the increasing population and rapid economic growth.
- Limited supply of low-sulphur crude oil due to the global decline in production levels, which is pushing up prices and making high sulphur fuel oil more economical to produce.
- The increasing use of high sulphur fuel oils in bunker fuels due to their lower price relative to other fuels such as diesel or gasoline.
Scope Of The Report
Report Attributes
Report Details
Report Title
High Sulphur Fuel Oil Market Research Report
By Type
Heavy Fuel Oil, Light Fuel Oil
By Application
Transportation, Petrochemical Industry, Building Industry, Others
By Companies
Exxon Mobil, BP, Shell, China Marine Bunker, World Fuel Services, Bunker Holding, Total Marine Fuel, Chemoil, Bright Oil, Sinopec, Gazpromneft, GAC, China Changjiang Bunker (Sinopec), Southern Pec, Lukoil-Bunker, Alliance Oil Company, Shanghai Lonyer Fuels
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
153
Number of Tables & Figures
108
Customization Available
Yes, the report can be customized as per your need.
Global High Sulphur Fuel Oil Market Report Segments:
The global High Sulphur Fuel Oil market is segmented on the basis of:
Types
Heavy Fuel Oil, Light Fuel Oil
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Transportation, Petrochemical Industry, Building Industry, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Exxon Mobil
- BP
- Shell
- China Marine Bunker
- World Fuel Services
- Bunker Holding
- Total Marine Fuel
- Chemoil
- Bright Oil
- Sinopec
- Gazpromneft
- GAC
- China Changjiang Bunker (Sinopec)
- Southern Pec
- Lukoil-Bunker
- Alliance Oil Company
- Shanghai Lonyer Fuels
Highlights of The High Sulphur Fuel Oil Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Heavy Fuel Oil
- Light Fuel Oil
- By Application:
- Transportation
- Petrochemical Industry
- Building Industry
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the High Sulphur Fuel Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
High sulphur fuel oil is a type of fuel oil that has a higher concentration of sulfur than regular fuel oil. This type of fuel oil is used in diesel engines because it provides better performance and reliability.
Some of the major companies in the high sulphur fuel oil market are Exxon Mobil, BP, Shell, China Marine Bunker, World Fuel Services, Bunker Holding, Total Marine Fuel, Chemoil, Bright Oil, Sinopec, Gazpromneft, GAC, China Changjiang Bunker (Sinopec), Southern Pec, Lukoil-Bunker, Alliance Oil Company, Shanghai Lonyer Fuels.
The high sulphur fuel oil market is expected to grow at a compound annual growth rate of 3.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 High Sulphur Fuel Oil Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 High Sulphur Fuel Oil Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 High Sulphur Fuel Oil Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the High Sulphur Fuel Oil Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global High Sulphur Fuel Oil Market Size & Forecast, 2018-2028
4.5.1 High Sulphur Fuel Oil Market Size and Y-o-Y Growth
4.5.2 High Sulphur Fuel Oil Market Absolute $ Opportunity
Chapter 5 Global High Sulphur Fuel Oil Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 High Sulphur Fuel Oil Market Size Forecast by Type
5.2.1 Heavy Fuel Oil
5.2.2 Light Fuel Oil
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global High Sulphur Fuel Oil Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 High Sulphur Fuel Oil Market Size Forecast by Applications
6.2.1 Transportation
6.2.2 Petrochemical Industry
6.2.3 Building Industry
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global High Sulphur Fuel Oil Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 High Sulphur Fuel Oil Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America High Sulphur Fuel Oil Analysis and Forecast
9.1 Introduction
9.2 North America High Sulphur Fuel Oil Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America High Sulphur Fuel Oil Market Size Forecast by Type
9.6.1 Heavy Fuel Oil
9.6.2 Light Fuel Oil
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America High Sulphur Fuel Oil Market Size Forecast by Applications
9.10.1 Transportation
9.10.2 Petrochemical Industry
9.10.3 Building Industry
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe High Sulphur Fuel Oil Analysis and Forecast
10.1 Introduction
10.2 Europe High Sulphur Fuel Oil Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe High Sulphur Fuel Oil Market Size Forecast by Type
10.6.1 Heavy Fuel Oil
10.6.2 Light Fuel Oil
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe High Sulphur Fuel Oil Market Size Forecast by Applications
10.10.1 Transportation
10.10.2 Petrochemical Industry
10.10.3 Building Industry
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific High Sulphur Fuel Oil Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific High Sulphur Fuel Oil Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific High Sulphur Fuel Oil Market Size Forecast by Type
11.6.1 Heavy Fuel Oil
11.6.2 Light Fuel Oil
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific High Sulphur Fuel Oil Market Size Forecast by Applications
11.10.1 Transportation
11.10.2 Petrochemical Industry
11.10.3 Building Industry
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America High Sulphur Fuel Oil Analysis and Forecast
12.1 Introduction
12.2 Latin America High Sulphur Fuel Oil Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America High Sulphur Fuel Oil Market Size Forecast by Type
12.6.1 Heavy Fuel Oil
12.6.2 Light Fuel Oil
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America High Sulphur Fuel Oil Market Size Forecast by Applications
12.10.1 Transportation
12.10.2 Petrochemical Industry
12.10.3 Building Industry
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) High Sulphur Fuel Oil Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) High Sulphur Fuel Oil Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) High Sulphur Fuel Oil Market Size Forecast by Type
13.6.1 Heavy Fuel Oil
13.6.2 Light Fuel Oil
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) High Sulphur Fuel Oil Market Size Forecast by Applications
13.10.1 Transportation
13.10.2 Petrochemical Industry
13.10.3 Building Industry
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 High Sulphur Fuel Oil Market: Competitive Dashboard
14.2 Global High Sulphur Fuel Oil Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Exxon Mobil
14.3.2 BP
14.3.3 Shell
14.3.4 China Marine Bunker
14.3.5 World Fuel Services
14.3.6 Bunker Holding
14.3.7 Total Marine Fuel
14.3.8 Chemoil
14.3.9 Bright Oil
14.3.10 Sinopec
14.3.11 Gazpromneft
14.3.12 GAC
14.3.13 China Changjiang Bunker (Sinopec)
14.3.14 Southern Pec
14.3.15 Lukoil-Bunker
14.3.16 Alliance Oil Company
14.3.17 Shanghai Lonyer Fuels
