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Cetane Number Improver Market is anticipated to hit $964.39 million by 2023 at a CAGR of 4.1%

Published By: IndustryARC Published On : 06-Sep-2018
According to the new market research report by IndustryARC titled “

Cetane Number Improver (2-EHN) Market: By Diesel Type (Petroleum Diesel and Biodiesel); By Market Type (Direct Market and After Market) and By Region - (2018-2023)

”, the market is driven by the stringent emission control regulations, as per region, regarding diesel. In other words, emerging demand for CNI oil refinery is expected to drive global CNI (Cetane Number Improver) Market.

Browse 50 Market Tables, 176 Figures spread through 130 slides and an in-depth TOC on “

Cetane Number Improver (2-EHN) Market

 (2018 - 2023)


APAC held the largest market share and growth rate in the Cetane Number Improver Market


Asia Pacific region holds the largest market share and growth in the Cetane Number Improver Market, and is anticipated to reach $438.61 million by 2023 at a CAGR of 7.2%. The APAC region is the major and fastest growing region, as emerging economies such as China and India are experiencing huge demands for diesel, as majority of passenger fleets run on diesel. Also, the largest oil refineries are situated in India, South Korea and China, which require CNI in diesel to meet the regulatory standards. By 2026, it is estimated there will be more passenger cars in the developing countries than in the OECD countries, where 68% increase in fleets over 2011-2040 will be in developing Asia. The Chinese government is currently concentrating on fuel specification and planning to implement Euro V fuel specification by 2018. So, it is projected that the CNI market will also grow at the same pace as the demand for diesel fuel in developing countries will increase in the near future. APAC CNI refinery was projected to grow at a CAGR of 6.1% to 304 KT in 2023. Large volumes of CNI are being used in APAC due to growing demands for diesel use in passenger vehicles.

Selected Market Life Cycle Analysis done in the full report


CNI Market is segmented into two groups, i.e. direct market as oil refinery and aftermarket, which includes end-user industries such as automotive manufacturing, agricultural, power generators, marine and many more. CNI is majorly used in oil refinery as compared to aftermarket. The growth of this market is estimated to increase at a faster rate, and is forecast to experience a surge of around $724 million due to the upcoming new refinery projects, and expansion of existing projects across the world.

According to recent publication of ExxonMobil Corp, it is planning a 20,000-b/d capacity expansion at its 345,000-b/d refinery in Beaumont, Texas, to hold increased processing of US light crudes. They have also completed a metallurgy upgrade project at the Beaumont refinery to enlarge the plant’s capacity to process heavy Canadian crude.

Furthermore, aftermarket accounts approximately 12% of the global CNI market.

To access / purchase the full report browse the link below:



Excerpts on Market Growth Factors

:

Petroleum Diesel accounts for 99% of the total CNI market whereas biodiesel is a very niche market, and is growing rapidly as environmental concerns and climate change is compelling countries to reduce greenhouse gas (GHG) emissions.
APAC is the major producer and consumer of CNI across the world. Growth in APAC is propelled by the growing markets in China and India.
Although CNI market for biodiesel is at a neophyte stage, but it has huge potential to grow in the future as technological developments will accelerate its growth at a higher level.
Increase in Passenger Fleet is driving the Cetane Number Improver Market.
The locomotive industry is a major market for CNI. Currently, Diesel locomotives are recovering from global economic recession and are expected to grow in future.
North America, Asia, Commonwealth of Independent States (CIS) countries are the major market for diesel locomotives.
Germany is the fastest growing country in the CNI market. Spain is also growing at a fast pace for CNI market to meet the minimum diesel standards.
It is projected that the CNI market will also grow at the same pace as the demand of diesel fuel in developing countries will increase in near future.

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Key players of Cetane Number Improver Market:


CNI market has around 30 suppliers including key players such as Innospec, EPC-UK, Cetpro, Deepak Nitrites, Dorf-Ketal and few others.
The report also includes the overview of key players in the CNI field such as Afton Chemical Limited, BASF SE, Very One (Eurenco), Nitroerg SA, Cetpro Ltd, Lubrizol Corporation and others.
Others companies include The BASF SE (Germany), Chevron Oronite Company (U.S.), Baker Hughes Incorporated (U.S.), and others. Among these companies, Afton Chemicals has a vast range of products that are used in various end-user industries.
It will not be easy for the new and small companies to beat the already well- established giant players like Innospec fuel specialties, VERYONE (Eurenco), NITROERG SA and many more, as their distribution channel is strong.
The product line of Innospec Inc. is majorly into fuel specialty, whereas the company is a specialist in supplying end user specific formulated products.
Most of the companies in the CNI market fall under medium scale enterprises. Small cluster of companies holds majority of the market.
Chevron Oronite set up a new refinery plant in Jurong Island, Singapore, to meet the growing demand in emerging markets like China and India. This development increases the demand for CNI as majority of it is used in the oil refinery.
Acquisition between Spanish company Maxam Corp Holding S.L. by US based Advent International Corporation, gave rise to a vertical relationship between Advent's production of the oxo-alcohol 2-ethylhexanol (2-EH) and Maxam's downstream production of 2-ethylhexyl nitrate (2-EHN), a CNI for diesel fuel.

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