Market Overview:
The global refining additive market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth of the market can be attributed to the increasing demand for refined products, especially in developing countries. In addition, the growing construction industry is also contributing to the growth of this market. The global refining additive market can be segmented on the basis of type into corrosion inhibitors, antioxidants, defoamers, biocides and others. The corrosion inhibitors segment is expected to dominate the global refining additive market during the forecast period owing to their ability to protect refinery equipment from corrosion and fouling.
Product Definition:
Refining additive is an important part of the refinery process. The additive helps to remove any residual sulfur from the crude oil, which can cause environmental and health problems.
Corrosion Inhibitor:
A corrosion inhibitor is a chemical that inhibits or delays the progress of corrosion in various metal-based components. It does this by reducing the rate at which water reacts with metal surfaces, usually through the formation of a protective layer. The primary function of any refinery product is to prevent corrosions and rusting, thus extending equipment life & performance life cycle. Thus, it has become essential to use efficient inhibitors in order to control/prevent such occurrences in refineries and petrochemical plants.
Antioxidant:
Antioxidants are the chemical compounds that can neutralize or prevent the damage from free radicals. Free radicals are highly reactive and unstable molecules, which can result in chain reactions leading to cell damage. Antioxidants are used as additives during the processing of crude oil into gasoline and other downstream products such as diesel, kerosene, etc.
Application Insights:
The crude oil processing industry accounted for the largest share of over 40.0% in 2017. The segment is expected to witness significant growth on account of increasing refining activities to meet growing demand from automotive and industrial applications. In addition, the rising need for maintaining high production standards at refineries coupled with stringent regulations regarding discharge from upstream industries is anticipated to drive product demand in this application segment over the forecast period.
Refineries are majorly used in crude oil processing industry as a result of their ability to process heavy hydrocarbons into lighter products that can be utilized by downstream processes more efficiently, which includes upgrading and transportation fuels among others. Rising environmental concerns regarding discharged fluids from upstream sectors including agriculture and water pollution are likely to force refiners toward adopting cleaner refining additives thereby driving market growth during the forecast period.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing demand for petroleum refining products in emerging economies, such as China and India. In addition, rising government investments in infrastructure development are likely to drive product demand from crude oil processing industry over the next eight years.
The Asia Pacific refining additive market was valued at USD X million in 2017 and is projected to grow at a CAGR of XX% from 2018 to 2030 owing high growth of end-use industries coupled with increasing domestic consumption for petroleum products production across countries including China, Indonesia, Thailand among others will have a positive impact on industry expansion over the coming years.
Growth Factors:
- Increasing demand for gasoline and diesel from the transportation sector
- Stringent environmental regulations for emissions control
- Rising demand for petrochemicals in developing countries
- Technological advancements in refining processes and additive technologies
- Growing popularity of fuel additives as a means to improve engine performance
Scope Of The Report
Report Attributes
Report Details
Report Title
Refining Additive Market Research Report
By Type
Corrosion Inhibitor, Antioxidant, Defoamer, Biocide, Others
By Application
Crude Oil Processing Industry, Construction Industry, Others
By Companies
GE, Berkshire Hathaway, Dorf-Ketal Chemicals, Clariant, Exxon Mobil, Amspec, Evonik Industries, Albemarle, BASF, Johnson Matthey, Ecolab, Chevron, Infineum International, Total
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
215
Number of Tables & Figures
151
Customization Available
Yes, the report can be customized as per your need.
Global Refining Additive Market Report Segments:
The global Refining Additive market is segmented on the basis of:
Types
Corrosion Inhibitor, Antioxidant, Defoamer, Biocide, Others
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
Crude Oil Processing Industry, Construction 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:
- GE
- Berkshire Hathaway
- Dorf-Ketal Chemicals
- Clariant
- Exxon Mobil
- Amspec
- Evonik Industries
- Albemarle
- BASF
- Johnson Matthey
- Ecolab
- Chevron
- Infineum International
- Total
Highlights of The Refining Additive 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:
- Corrosion Inhibitor
- Antioxidant
- Defoamer
- Biocide
- Others
- By Application:
- Crude Oil Processing Industry
- Construction 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 Refining Additive 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?
Refining additive is a term used in the chemical industry to describe a process that removes impurities from raw materials.
Some of the major companies in the refining additive market are GE, Berkshire Hathaway, Dorf-Ketal Chemicals, Clariant, Exxon Mobil, Amspec, Evonik Industries, Albemarle, BASF, Johnson Matthey, Ecolab, Chevron, Infineum International, Total.
The refining additive market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Refining Additive 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 Refining Additive Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Refining Additive 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 Refining Additive 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 Refining Additive Market Size & Forecast, 2020-2028 4.5.1 Refining Additive Market Size and Y-o-Y Growth 4.5.2 Refining Additive Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Corrosion Inhibitor
5.2.2 Antioxidant
5.2.3 Defoamer
5.2.4 Biocide
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Crude Oil Processing Industry
6.2.2 Construction Industry
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Refining Additive 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 Refining Additive 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Corrosion Inhibitor
9.6.2 Antioxidant
9.6.3 Defoamer
9.6.4 Biocide
9.6.5 Others
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 Market Size Forecast by Applications
9.10.1 Crude Oil Processing Industry
9.10.2 Construction Industry
9.10.3 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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Corrosion Inhibitor
10.6.2 Antioxidant
10.6.3 Defoamer
10.6.4 Biocide
10.6.5 Others
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 Market Size Forecast by Applications
10.10.1 Crude Oil Processing Industry
10.10.2 Construction Industry
10.10.3 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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Corrosion Inhibitor
11.6.2 Antioxidant
11.6.3 Defoamer
11.6.4 Biocide
11.6.5 Others
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 Market Size Forecast by Applications
11.10.1 Crude Oil Processing Industry
11.10.2 Construction Industry
11.10.3 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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Corrosion Inhibitor
12.6.2 Antioxidant
12.6.3 Defoamer
12.6.4 Biocide
12.6.5 Others
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 Market Size Forecast by Applications
12.10.1 Crude Oil Processing Industry
12.10.2 Construction Industry
12.10.3 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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Corrosion Inhibitor
13.6.2 Antioxidant
13.6.3 Defoamer
13.6.4 Biocide
13.6.5 Others
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) Market Size Forecast by Applications
13.10.1 Crude Oil Processing Industry
13.10.2 Construction Industry
13.10.3 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 Refining Additive Market: Competitive Dashboard
14.2 Global Refining Additive Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GE
14.3.2 Berkshire Hathaway
14.3.3 Dorf-Ketal Chemicals
14.3.4 Clariant
14.3.5 Exxon Mobil
14.3.6 Amspec
14.3.7 Evonik Industries
14.3.8 Albemarle
14.3.9 BASF
14.3.10 Johnson Matthey
14.3.11 Ecolab
14.3.12 Chevron
14.3.13 Infineum International
14.3.14 Total