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
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
- 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.
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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.
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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.