Rapid growth in the airline industry driven by new technological developments is anticipated to drive growth in the jet kerosene market. Increasing investment in the airline industry owing to the growth in the global population is expected to further accelerate growth in the global jet kerosene market. Jet fuels are either kerosene or petroleum-based fuels used to power aircrafts. These fuels are usually of higher quality as compared to fuel used in applications such as road transport and heating. Kerosene is believed to be the highest quality fuel with the best combination of properties. The primary purpose of aviation fuels is to power an aircraft; combustion quality and air content are two most important performance properties. Several other qualities of jet fuel include cleanliness, non-corrosivity, volatility, fluidity, lubricity, and stability. Besides being an energy source to power the aircraft, jet fuel can also be used as a coolant for certain fuel system components and as a hydraulic fuel in an engine control system.
The global jet kerosene fuel market has been segmented on the basis of product grade, application, and geography to depict an overall market scenario. On the basis of product grade, the global jet kerosene fuel market can be given as Jet A-1, Jet A and Jet B. Segmentation on the basis of application for the global jet fuel market can be made as Aviation, Chemicals, Steel, Shipping, Oil refining, Power generation, Railways, and Metallurgy. Jet A-1 is a kerosene grade fuel that is widely used in turbine engine aircraft. This fuel is produced to a stringent standard at a flash point above 38 degrees. Jet A is a kerosene type of fuel with majority of applications in the U.S. On the other hand, Jet B is a distillate covering kerosene and naphtha fractions. It is basically used an alternative to Jet A-1 fuel; however, this type of fuel is difficult to handle owing to its high flammability. On the basis of application segment, aviation industry holds the major portion of market share in the global jet fuel market. Aviation fuel forms an important cost element of the total material cost. Jet fuel holds nearly 40% of the total input cost for the airline company.
The global jet kerosene (fuel) market is anticipated to rise significantly in the future. Market growth is driven by a rise in the global economic growth. Global economic growth is a key factor driving growth in the air traffic demand. Air transport industry is likely to play a key role in long-term economic growth and economic development of nation worldwide. It allows country’s integration into global economy providing an increased number of economic benefits and direct benefits to users through its positive impact on economic performance and productivity. Furthermore, airline liberalization can create an increased demand and ensure that the increased connectivity services are available for long-term period. Improvements in GDP growth and productivity and greater aviation connectivity can also boost country’s competitiveness. The above mentioned factors are likely to drive greater growth in the aviation industry. This would further increase demand for the jet kerosene fuel. Price volatility of the aviation fuel may restrain growth in the jet fuel market. Moreover, competitive scenario and globalization demand competitive pricing in absence of which the airline companies would lose considerable business. However, growing population and disposable income across the globe is likely to provide ample growth opportunities for the market.
Asia Pacific, driven by the rise in number of passengers preferring airline as a travelling option, is expected to lead the market in terms of demand for jet fuel. North America and Europe are expected to be the key growth regions for the market.
Some of the key players in the global jet kerosene (fuel) market include Indian Oil Corporation Limited, Valero Marketing and Supply Company, BP, Allied Aviation Services, Inc., and Qatar Jet Fuel Company.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments