Decant Oil Market: Overview

A decant oil or slurry oil is a high-boiling cracked aromatic process oil. This oil appears as a thick oily liquid that is soluble in diethyl ether, partially soluble in acetone, and insoluble in water. Decant oil possess a petroleum asphalt odor. It is commonly referred as clarified oil, catalytic cracked clarified oil, carbon black feedstock, cat slurry oil, or residual fuel oil. Decant oil is composed of  catalytic cracked clarified oils (petroleum), hydrodesulfurized catalytic cracked clarified oils, distillates (petroleum), fuel oil No. 6, residues (petroleum), polycyclic aromatic hydrocarbons, asphaltenes (petroleum), naphthalene, hydrogen sulfide, and sulfur. This oil is primarily used in carbon black feedstock and needle coke in chemical industries and deployed as a heavy fuel oil in the petroleum industry.

Decant Oil Market: Key Segments

In terms of type, the global decant oil market can be bifurcated into FCC-based (fuel catalytic cracking) and RCC-based (residue catalytic cracking). The FCC-based segment holds a major share of the decant oil market. The FCC decant oil forms needle-like crystalline carbon structures during the coking process and hence, it is widely used to produce needle coke. This needle coke is further utilized for the manufacturing electrodes. Increase in utilization of these electrodes in the steel manufacturing industry is anticipated to boost the demand for FCC-based decant oil. FCC decant oil is also used as a feedstock to generate carbon black or carbon fiber owing to its high aromatic content.

Based on application, the decant oil market can be segregated into carbon black feedstock, needle coke, heavy fuel oil, and others. The needle coke segment is estimated to account for major share of the global decant oil market in the next few future. A pure decant oil is utilized in a delayed coker under appropriate operating conditions, to produce a special grade of coke which is known as needle coke. Needle coke commands a premium price over the other grades of coke due to its superior characteristics. Increase in demand for needle coke among electrode manufacturers is projected to drive the decant oil market. Decant oil has a similar boiling range to heavy fuel oils, hence decant oil is blended into heavy fuel oil and used in marine engines and coal power plants.

Decant Oil Market: Regional Outlook

In terms of region, the global decant oil market can be divided into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific accounted for a major share of the global decant oil market in 2017 due to the presence of a large number of electrode manufacturers in this region. The decant oil market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period owing to the rise in industrialization in countries such as China, Japan, and Taiwan. Rise in demand for steel and growth in production of electrodes are expected to boost the production of needle coke in Asia Pacific during the forecast period. This is anticipated to boost the utilization of decant oil. This, in turn, is anticipated to drive the decant oil market in Asia Pacific during the forecast period. North America and Europe held lager share of the global market in 2017 owing to the increase in demand for decant oil in petroleum and chemical industries in these regions.

Decant Oil Market: Key Players

Key players operating in the global decant oil market include BP Marine Americas Inc, Countrymark Cooperative Holding Corp., HollyFrontier Corporation, Husky Lima Refinery, Marathon Petroleum Corporation, Ponderosa Petroleum, Qatar Petroleum, Seadrift Coke, LP, Sinclair Oil Corporation, Suncor Energy Inc., and Valero Marketing and Supply Company. These players focus on strengthening their product portfolio through strategic mergers and acquisitions. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Decant Oil Market

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