BTX and Hydrocarbon Separating Adsorbent Market Analysis
Posted by BIS RSRCH on November 25th, 2020
The competitive landscape of the BTX and hydrocarbon separating adsorbent market consists of different strategies undertaken by major players across the adsorbent manufacturers to gain market presence. BASF SE, Honeywell International Inc, W.R. Grace, and Hengye Inc. are some of the leading players in the global BTX and hydrocarbon separating adsorbent. Major strategies adopted by BTX and hydrocarbon separating adsorbent manufacturers include new product launches, business expansions, partnerships, and collaborations and forming contracts with end-user industries to gain access to shifting needs of the market. A majority of key companies preferred the new product launches strategy to enhance their sales, improve product quality, and increase their product application base and operating conditions of the raw materials/products produced.
The oil and gas and petrochemical industry are witnessing a significant shift from solvent-based adsorbents to non-solvent based adsorbents, due to various factors such as the need to curb pollution, stringent government regulations on fuel standards, and growing inclination toward a circular economy. The increased installation of adsorbents, primarily in the downstream industry, is predicted to propel the market. Moreover, the growing demand for cleaner fuels and increasing awareness to reduce the energy requirements to operate a plant is expected to drive the market during 2020-2025.
The report consists of an extensive study of the BTX and hydrocarbon separating adsorbents. The report includes a thorough analysis of various products, regeneration power, sales mode, and application along with end-use industries. In this study, the impact of COVID-19 outbreak on various end-use industries for various region/country has been considered.
The report is a compilation of various segmentations, including market breakdown by product, technology, end-use industry, application, and region. The report highlights the key driving and restraining forces for the market as well as the opportunities in different applications across the leading countries. In the extensive primary research process undertaken for this study, the sources include industry experts and key executives from prominent companies, and organizations across the BTX and hydrocarbon separating adsorbent value chain. Major players have been identified based on product offerings pertaining to the BTX and hydrocarbon separating adsorbent market, their geographical presence, and company developments related to the market. The market is further explained and analyzed on the basis of region and country.
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The trends of the global BTX and hydrocarbon separating adsorbent vary with different regions. The market holds a prominent share in various countries of North America, Europe, China, and Asia-Pacific (APAC). The report also provides a country-based analysis for all the leading countries in every region, such as the U.S., the U.K., China, Japan, Mexico, Canada, South Korea, Australia, Russia, and Germany.
The demand for cleaner fuels has been increasing exponentially in colder regions as cleaner fuels have lower freezing points and lower densities. Due to these reasons, the automobiles that use fuel have increased the demand for cleaner fuels as they help eliminate the start-up problems during cold seasons. Cleaner fuels also result in more efficient engine performance, which is a concerning matter, especially in cold seasons, when there is a minimal but effective contraction in the engine. This contraction leads to lowered performance due to ineffective fuel combustion and power generation. Countries such as Canada have implemented “Clean Fuel Standards,” which define the allowed impurity levels in the fuels. This also helps in reducing greenhouse effects as the engines become more efficient. The standards implemented in 2016, were aimed at controlling the carbon emissions by fuel economy.
