Fuel Oil Catalyst Market: Introduction
- A fuel catalyst is a mechanism that increases fuel efficiency — “gas” mileage — and decreases emissions.
- Fuel oil catalyst improves the combustibility of hydrocarbon fuels by treating the fuel immediately before it enters the combustion chamber
- It reformulates gasoline, diesel, fuel oil, propane, and natural gas causing the reformulated fuels to produce more energy during combustion
- The catalyst acts on impurity molecules in fuel converting them into extremely active small molecules, which have the effect of cracking any long-chain paraffin to form lower molecular weight saturated alkanes. As a result, fuel burns cleaner and more completely, improving the combustion process.
- Fuel oil catalyst also has no moving parts and is maintenance-free
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Key Drivers of Fuel Oil Catalyst Market
- Increasing demand for eco-friendly combustion of fuels is propelling the growth of the fuel oil catalyst market, as they help in enhancing fuel standards, increasing operational efficiency, and promoting clean fuel trends
- Fuel catalysts can be used on any size internal combustion engine. Thousands of engines worldwide ranging from small 1/4 horsepower string trimmers to large commercial and marine engines in excess of 3,000 horsepower, use fuel catalysts that has resulted in rapid growth of these catalysts across upstream petroleum industry.
- With rapid recovery of the global chemical industry, the fuel oil catalyst market is expected to grow at a significant rate during the forecast period
- The U.S. and countries in Asia Pacific and Europe have imposed stringent policies to control air pollution due to which, the use of fuel oil catalysts has witnessed substantial growth in various industries
- On April 17, 2019, the European Parliament and the Council adopted Regulation (EU) 2019/631 setting CO2 emission performance standards for new passenger buses and light commercial vehicles (vans) in the EU for the period after 2020. The new Regulation will be implemented from January 1, 2020.
- EPA, on February 19, 2015, issued a Direct Final Rule to clarify regulations for light-duty Tier 3 motor vehicle emissions and fuel standards and for several other mobile source regulations
- Catalyst have a major requirement in both heavy duty and light duty vehicles to control emission and increase fuel efficiency
- Development of unconventional oil reserves will provide lucrative growth opportunities to the global fuel catalyst market. For instance, the processing of shale oil in North America that results in a large number of metal contaminants and heat balance issues is likely to propel the fuel oil catalyst market.
Major Developments in Fuel Oil Catalyst Market
- In February 2017, researchers discovered that adding some amount of carbon to a nickel-based catalyst can substantially reduce the amount of energy required to break methane molecule’s hydrogen-carbon bond. It forms nickel-carbide that results in breaking the methane molecule bond more readily at a much lower temperature. They found that adding too much carbon can kill the reaction, whereas a subsequent amount actually enhances the reaction.
- Fuel cells are not known much for their practicality and affordability, but it has just changed.
Researchers at the Georgia Institute of Technology are trying to reimagine the entire fuel cell with the help of a newly invented catalyst. Usually, a temperature of 750 to 1000 degree Celsius is required for methane cells to run. This new one needs only about 500 degree Celsius, which is cooler than automobile combustion engines that run on around 600 degree Celsius.
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Key Players Operating in Global Fuel Oil Catalyst Market
Some of the major players operating in the global fuel oil catalyst market are:
- Haldor Topsoe A/S
- Johnson Matthey
- Albemarle Corporation
- ExxonMobil Corporation
- Organica Biotech Pvt. Ltd.
- Rentar Environmental Solutions, Inc.
- D and Y laboratories
- Nano Fusion International LLC
- American Clean Energy Systems Inc.
- Advanced Power System International Inc.
Global Fuel Oil Catalyst Market: Research Scope
Global Fuel Oil Catalyst Market, by Type
- Diesel Fuel Catalyst
- Gasoline Fuel Catalyst
Global Fuel Oil Catalyst, by Application
- Off Road Engines
- On Road Engines
- Boilers, Furnaces, and Ovens
Global Fuel Oil Catalyst Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
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