Global Reforming Unit Market: Overview
Reforming unit, also known as thermal reformer, helps run a catalytic process that converts low octane naphthas into higher octane reformed products. With the growing environmental concerns, the demand for higher octane reformates for gasoline blending and hydrogen for other refinery operations is escalating in order to meet the requirements for clean fuels. The byproduct of the dehydrogenation process, hydrogen gas, is useful for hydrocracking and other processes throughout the refinery. The other products of reforming are light gases and high-octane gasoline blended component called reformate. Consequently, the global market for reforming unit is projected for a healthy growth rate during the forecast period of 2016 to 2024.
This report on global reforming unit market is an in-depth analysis of all the major factors that are expected to influence the demand over the course of next few years. It also highlights some of the trends in the market for the players to make most of the untapped opportunities. The report also contains a dedicated section on company profiles wherein several prominent players in this market have been analyzed for their market share, geographical presence, and recent developments. The global reforming unit market can be segmented on the basis of reforming process, into thermal and catalytic reforming.
Global Reforming Unit Market: Drivers and Restraints
Increased demand for high-octane gasoline and hydrogen gas as byproduct, are two of the primary driver for this market, besides the increased efforts of several governments for clean energy. On the other hand, the market is restrained by the challenge of maintaining the heater outlet temperature of the reactors, which is essential to ensure the quality of the end-products. An unscheduled shutdown of the reforming unit results in significant monetary loss to the company, as the output of other dependent units also suffer.
A thermal reforming unit requires extremely high temperatures to operate, and offer residual products such as residual oil, gas, and gasoline, whereas a catalytic reforming unit utilizes catalysts to combine low weight naphtha, and convert it into aromatics, which are useful in blending gasoline and making chemicals.
Global Reforming Unit Market: Region-wise Outlook
Geographically, the report studies the opportunities available in the regional reforming unit markets of North America, Europe, Asia Pacific, and Rest of the World. For each of the region, existing valuation have been evaluated, and based on estimated compound annual growth rate (CAGR), estimated valuation of the regions by 2024 have been projected. Currently, North America serves the maximum demand for reforming units due to stringent government regulations for clean energy and availability of latest technology. Asia Pacific reforming unit market too is expected to present lucrative opportunities as it resides nearly half of world’s population and is experiencing rapid urbanization and industrialization.
Companies mentioned in the research report
The report identifies some of the key players currently operating in the global reforming unit market, including Chevron Corporation, Honeywell International Inc, Chiyoda Corporation, Atlantic Richfield Oil Company, KBR Inc., KASUS Technical Service & Consulting GmbH, CB&I, Siemens Industry, Inc., Foster Wheeler AG, Linde AG, Larsen & Toubro Limited, and Ventech Engineers International LLC. Each of the company profiled in the report possess strong presence globally, or in their respective region.
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.
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.