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Hydrocarbon Fluids Market

Hydrocarbon Fluids Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

Hydrocarbon Fluids Market: Overview

  • Natural gas and crude oil are mixtures of various types of hydrocarbons. Hydrocarbons are molecules of hydrogen and carbon in various combinations. Hydrocarbon fluids are hydrocarbons that occur as liquids under higher pressure and as gases at atmospheric pressure. Hydrocarbon fluids can also be liquefied by cooling. Specific temperatures and pressures at which gases liquefy vary in terms of type of hydrocarbon fluids. Hydrocarbon fluids may be described as being heavy or light, according to the number of hydrogen atoms and carbon atoms in a hydrocarbon fluid.
  • High energy density and versatility in liquid form make hydrocarbon fluids useful in various end-use application such as feedstock in petrochemical plants, synthetic rubber, and chemicals. They are also used as fuel for cooking, heating, and drying; transportation; additives for motor gasoline production; and diluent for transportation of heavy crude oil.

Rise in Demand for Hydrocarbon Fluids in Petrochemical Industry to Drive Market

  • Rapid industrialization and increase in number of end-use applications are key factors expected to drive the global hydrocarbon fluids market. Hydrocarbon fluids are ideal for usage in a wide range of industries for manufacturing plastics, chemicals, and synthetic rubber.
  • Petrochemicals play a significant role in daily life. They have revolutionized the electronics sector through some important scientific inventions. The petrochemicals industry has proved to be extremely beneficial for the electronics industry.
  • Rise in demand for petrochemical products in the building & construction industry is expected to positively impact the global hydrocarbon fluids market during the forecast period. According to Oxford Economics, the global construction industry output is estimated to increase by 85% to reach US$ 15.5 Tn by 2030, with the three major countries – China, the U.S., and India – leading the way and accounting for 57% of all global growth. This is estimated to boost the demand for petrochemical products in the building & construction sector during the forecast period. In turn, this is expected to drive the global hydrocarbon fluids market.
  • The global hydrocarbon fluids market is facing supply-demand shortages due to the industrial shutdown triggered by the COVID-19 outbreak. Disruption in raw material supply is projected to hamper full-scale operations. Supply shortage has also led to a rise in prices of raw materials. Additionally, industrial shutdown has adversely impacted product and inventory transportation, as the logistic services have been hampered due to the COVID-19 outbreak.

Propane Type Segment Held Major Share of Global Hydrocarbon Fluids Market

  • Based on type, the global hydrocarbon fluids market can be segmented into propane, ethane, natural gasoline, isobutane, normal butane, and refinery olefins
  • The propane segment held major share of the global hydrocarbon fluids market in 2019. Propane is a by-product of refining and natural gas industry. It is commonly utilized as nonrenewable chemical and fuel. Propane is primarily used as a fuel. It has several applications such as fuel for fleet vehicles and chemical refineries. Major sectors with extensive utilization of propane are transportation and industrial (Chemicals).

Petrochemical Application Segment to Hold Major Share of Market

  • Based on application, the hydrocarbon fluids market can be divided into petrochemicals, fuels, additives, diluents, and others
  • The petrochemicals segment is expected to dominate the global hydrocarbon fluids market during the forecast period. Petrochemical applications such as plastics, building & construction, paints & coatings, and electronics & electrical have been witnessing an increase in the demand for petrochemicals since the last few years. This is a key factor expected to propel the demand for hydrocarbon fluids during the forecast period.

Asia Pacific to Constitute Significant Share of Global Hydrocarbon Fluids Market

  • In terms of region, the global hydrocarbon fluids market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific dominated the global market in 2019. This can be ascribed to the presence of key manufacturers and growth in trade activities from India and China. Expansion of the manufacturing industry and building & construction and automotive & transportation sectors in Asia Pacific is likely to boost the hydrocarbon fluids market in the region in the near future.
  • North America is also anticipated to hold large share of the global hydrocarbon fluids market during the forecast period

Key Players in Global Hydrocarbon Fluids Market

  • Manufacturers of hydrocarbon fluids are highly consolidated in Asia Pacific. Trading activities from countries in Asia Pacific, such as China, have been increasing at a rapid pace since the last few years.
  • Prominent players operating in the global market are investing in technological developments and new product launch in order to maintain their leading position

Key players operating in the global hydrocarbon fluids market include:

  • BASF SE
  • Shimadzu Scientific Instruments
  • Honeywell
  • Chevron
  • ExxonMobil
  • Lubrication Engineers, Inc.
  • Eastern Scientific Sales & Service Co.
  • Chemsol, Inc.
  • Lubricating Specialties Company
  • MSC Industrial Supply Co.

Global Hydrocarbon Fluids Market: Research Scope

Global Hydrocarbon Fluids Market, by Type

  • Propane
  • Ethane
  • Natural Gasoline
  • Isobutane
  • Normal Butane
  • Refinery Olefins

Global Hydrocarbon Fluids Market, by Application

  • Petrochemicals
  • Fuels
  • Additives
  • Diluents
  • Others

Global Hydrocarbon Fluids Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
Hydrocarbon Fluids Market

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