NEW YORK, United States, May 08, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Alkylate Market By Production Process (Sulfuric Acid Alkylation, Hydrofluoric Acid Alkylation, And Others), By End-Use (Aviation, Agriculture, Automotive, And Others), By Application (Solvents, Functional Fluids, Surfactants & Synthetic Sulfonates, And Additives), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Alkylate Market size & share in terms of revenue was valued at USD 11.6 billion in 2022 and it is expected to surpass around USD 25.7 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 10.1% during the forecast period 2023 to 2030.”
What is Alkylate? How big is the Alkylate Industry?
Report Overview:
Alkylate is gaining huge popularity as a major component used for manufacturing green & high-octane gasoline by using isobutylene as a raw material. With the use of isobutylene, producers have formed a strong research base in the methods optimizing the output of alkylate isooctane while reducing the end-point. Governments are investing majorly in setting manufacturing bases for producing alkylate and this has provided impetus to the expansion of alkylate business across the globe.
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Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
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- About 219+ Pages Research Report (Including Recent Research)
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- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Zion Market Research Methodology
Global Alkylate Market Dynamics:
Growth Factors
- Large-scale use of alkylate in the formation of various pesticides including herbicides, insecticides, and germicides has prompted the expansion of alkylate market across the globe.
- Humungous demand for the product in chemicals used in farming activities will proliferate the growth of the global alkylate market across the globe.
- Escalating penetration of alkylate in the automotive and farming sectors along with government-promoting product use in these sectors will help the market ascend to newer heights in the years to come.
Restraints:
- The easy availability of substitute products is lower prices and massive demand for electric cars across the globe can put brakes on the expansion of the alkylate industry across the globe.
- Moreover, alkylates are explosive and this can restrict their use in the automotive sector.
Opportunities:
- The lucrative demand for highly-efficient gasoline in the automotive sector will generate new growth opportunities for the global industry.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 11.6 Billion |
| Projected Market Size in 2030 | USD 25.7 Billion |
| CAGR Growth Rate | 10.1% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Hengyi Industries Sdn Bhd (Malaysia), Janex S.A (Switzerland), Honeywell International Inc. (U.S.), ExxonMobil Corporation (U.S.), Koch Engineered Solutions (U.S.), Marathon Petroleum Corporation (U.S.), PJSC Lukoil Oil Company (Russia), BASF SE (Germany), Royal Shell plc (UK), Chevron Corporation (U.S.), SOLVAY (Belgium), Soltex Inc. (U.S.), Dupont (U.S.), Valero (U.S.), Ashland Inc., (U.S.), Neste (Finland), Reliance Industries Limited (India), Adrol (U.S.), and Cosmique Pvt. Ltd. (India). |
| Key Segment | By Production Process, End-Use, Application, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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Alkylate Market: Segmentation Analysis
The global alkylate market is sectored into end-use, application, production process, and region.
The production process segment of the global alkylate market is sub-divided into sulfuric acid alkylation, hydrofluoric acid alkylation, and others. Furthermore, the hydrofluoric acid alkylation segment, which led segmental surge in 2022, is slated to retain its segmental dominance in the coming years. The segmental expansion over 2023-2030 can be subject to a rise in use of the hydrofluoric acid alkylation process for manufacturing alkylate as they can withstand changing temperatures as compared to the sulfuric acid alkylation process.
On basis of end-use, the alkylate industry across the globe is sectored into aviation, automotive, agriculture, and others segments. Moreover, the agriculture segment, which accounted for the major share of the global industry in 2022, is anticipated to dominate the segmental expansion in the upcoming years. The growth of the segment can be credited to the extensive application of pesticides in farming activities as it is necessary to curtail crop infections. Apart from this, the use of alkylates in agrochemicals and pesticide sulfonation will further augment the scope of demand for alkylate in agriculture activities.
In terms of application, the alkylate market is segmented into solvents, functional fluids, surfactants & synthetic sulfonates, and additives. Moreover, the solvents segment is predicted to dominate the application segment in the forecasting years owing to the extensive application of solvents in chemical processes in labs, biotech research & development activities, and biology activities.
The global Alkylate market is segmented as follows:
By Production Process
- Sulfuric Acid Alkylation
- Hydrofluoric Acid Alkylation
- Others
By End-Use
- Aviation
- Agriculture
- Automotive
- Others
By Application
- Solvents
- Functional Fluids
- Surfactants & Synthetic Sulfonates
- Additives
Browse the full “Alkylate Market By Production Process (Sulfuric Acid Alkylation, Hydrofluoric Acid Alkylation, and Others), By End-Use (Aviation, Agriculture, Automotive, and Others), By Application (Solvents, Functional Fluids, Surfactants & Synthetic Sulfonates, and Additives), and By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030.”- Report at https://www.zionmarketresearch.com/report/alkylate-market
Competitive Landscape
Some of the main competitors dominating the global alkylate market include -
- Hengyi Industries Sdn Bhd (Malaysia)
- Janex S.A (Switzerland)
- Honeywell International Inc. (U.S.)
- ExxonMobil Corporation (U.S.)
- Koch Engineered Solutions (U.S.)
- Marathon Petroleum Corporation (U.S.)
- PJSC Lukoil Oil Company (Russia)
- BASF SE (Germany)
- Royal Shell plc (UK)
- Chevron Corporation (U.S.)
- SOLVAY (Belgium)
- Soltex Inc. (U.S.)
- Dupont (U.S.)
- Valero (U.S.)
- Ashland Inc. (U.S.)
- Neste (Finland)
- Reliance Industries Limited (India)
- Adrol (U.S.)
- Cosmique Pvt. Ltd. (India).
Key Insights from Primary Research:
- According to the analysis shared by our research analyst, the Alkylate market is likely to expand at a CAGR of around 10.1% during the forecast period (2023-2030).
- In terms of revenue, the Alkylate market size was valued at around US$ 11.6 billion in 2022 and is projected to reach US$ 25.7 billion by 2030.
- The global alkylate market is anticipated to record massive growth over the forecast period owing to a rise in the government expenditure on agriculture, aerospace, and automotive sectors along with the focus on research activities
- Based on production process, the hydrofluoric acid alkylation segment is predicted to register the fastest CAGR over the forecast timeline.
- In terms of end-use, the agriculture segment is slated to contribute majorly towards the market growth over 2023-2030.
- On basis of application, the solvents segment is slated to make notable contributions towards the global market share by 2030.
- Region-wise, the Asia-Pacific alkylate market is projected to register the highest CAGR during the assessment period.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Alkylate industry?
- What are the main driving factors propelling the Alkylate Market forward?
- What are the leading companies in the Alkylate Industry?
- What segments does the Alkylate Market cover?
- How can I receive a free copy of the Alkylate Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Production Process, End-Use, Application, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
- North American Alkylate market to witness substantial growth in the forecasting years
The North American region, which contributed nearly 75% of the global market revenue share in 2022, is predicted to dominate the global market in terms of both earnings and volume over the forecast timespan. The growth of the alkylate market in North America over the forecast timeline can be a result of an increase in the allocation of funds by the U.S. aerospace industry for manufacturing alkylate. In addition to this, the growing penetration of the compound in automotive and aerospace sectors in the countries such as Canada and the U.S. will uplift the market surge in the sub-continent in the next couple of years.
On the other hand, the alkylate industry in the Asia-Pacific is expected to register the highest gains in the upcoming years. The regional market development in the next eight years can be subject to factors such as an increase in product use across the civil aviation and aerospace sector in countries such as India and China.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In the second quarter of 2019, Royal Dutch Shell Inc., a key player in the energy & petrochemical industry, declared that it will increase the gasoline overhaul helping in the production of residual catalytic cracking units at its plant in the U.S. The strategic initiative will assist in raising alkylate production across various states in the U.S., thereby accelerating the industry surge.
- In the first half of 2021, Chevron Corporation, a U.S.-based firm in the oil & gas production business, and Honeywell Systems, a Fortune 500 firm manufacturing new technologies, entered into a partnership for commencing ISOALKYTM process unit. This will help them utilize ionic liquids for producing alkylate. For the record, the ISOALKYTM tools display a key breakthrough in the alkylation process, thereby steering the expansion of the alkylate market across the globe.
- In the first quarter of 2021, Lummus Technology LLC, a key licensor of petrochemicals, gasification, and gas refining, announced that it is launching an alkylate production unit in China for expanding its business in Asia and making it the largest alkylation unit across the globe. The initiative will raise the earnings of the firm apart from contributing notably towards the global market proceeds.
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