Petroleum-Fuel Dyes and Markers Market by Size, Share, Demand & Trends by 2032
The global petroleum fuel dyes and markers market is expected to witness a steady growth rate by registering a CAGR of 4.8% during the projection period from 2022 to 2032. The global market is projected to be valued at US$ 445.60 Mn in 2022 and is anticipated to reach around US$ 712.1 Mn by 2032. The rising production of petroleum and petroleum-based products is predicted to bolster the consumption of petroleum-fuel dyes and markers over the assessment period.
According to the historical projection of the global
petroleum-fuel dyes and markers market, the CAGR registered was about 4.2%
between 2012 and 2021. Owing to the surging growth of end-use industries such
as refineries and increasing usage and consumption of petroleum/fuel products,
such as gasoline generators in various developed and developing
countries, the global petroleum-fuel dyes and markers market is poised to grow
at a 4.8% CAGR between 2022 and 2032.
Leading oil and gas companies are continuously
searching for measures that can assist them to stop the smuggling of crude oil.
In order to keep an eye out, specific dyes and markers are used. These
solutions help prominent oil and gas companies to categorize the products on
the basis of functionalities, and properties such as ignition temperature,
boiling point,. Therefore, rising incidents of fuel theft all over the world
along with the surging need to identify different grades of fuels are
anticipated to augment the growth of the fuel-dyes and markers market during
the assessment period.
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Key Takeaways
- Strict
gasoline pricing and taxation systems help in preventing mismanagement
that occurred during the trading of numerous gasoline and diesel grades.
Various rates of tax on leaded and unleaded gasoline grades are fully
charged at different levels and further, they are promoted to replace
unleaded with leaded gasoline. Whereas, from the technical means, colored
dyes are used to distinguish leaded and unleaded grades and brands and to
restrict mismanagement.
- Most
countries are opting for fuel additives or petroleum/ fuel dyes as it is a
more preferred and convenient way to restrict the mismanagement of various
gasoline brands. In order to switch manufacturing of unleaded gasoline,
key players in the market are presently offering incentives for refineries
which is also known as the introduction of an environmental tax imposed on
the import.
- According
to the U.S., numerous state governments have made it mandatory to use dyes
and markers for off-road diesel which is non-taxed in order to prevent its
laundering in the on-road diesel sector, specifically over the border
areas of the states.
- Stringent
regulations help in differentiating various grades of different fuels
which are expected to drive the petroleum-fuel dyes and markers market and
the trend is likely to continue during the forecast period. Different
colors of dyes are used for coloring gasoline, lubricating oils,. and each
of these colors has a different purpose.
Competitive Landscape
Prominent market players in the petroleum-fuel dyes
and markers market are concentrating on partnering with end users and entering
into long-term supply agreements. Such leading key players in the market are
focusing on investing in research and development for developing new products
and introducing more sustainable products to minimize the carbon footprint.
Key Companies Profiled IN Petroleum-Fuel Dyes and
Markers Market are Johnson Matthey (Tracerco), The Dow Chemical Company, BASF
SE, SGS SA, Innospec, Marquard & Bahls, Pylam Products Company, Inc., John
Hogg Technical Solutions, SBZ Corporation, United Color Manufacturing, Inc.,
Spectronics Corporation, Mid Continental Chemical, Organic Dyes and Pigments,
Orient Chemical (Korea) Ltd., American Gas & Chemical Co. Ltd., Authentix,
Inc., AXI International, Axyntis Group, Rodanco BV, Sunbelt Corporation
More Insights into the Petroleum-Fuel
Dyes and Markers Market
According to the FMI analysis, the U.S. is expected to
dominate the global petroleum-fuel dyes and markers market in 2022 by
accounting for around 25.3% of the global share. Surging oil production across
various sectors in the U.S. is leading to increasing demand for oil products
and distillates, such as gasoline, off-road diesel, aviation fuel, kerosene,.
This factor is expected to drive growth in the market.
India is also expected to remain one of the
fastest-growing markets for the consumption of petroleum-fuel dyes and markers
all over the globe. A crucial development in the refinery sector combined with
growing fuel demand are both influencing the market growth over the projection
period.
Petroleum-Fuel Dyes and Markers Market
Segmentation
By Physical Type:
- Powder
- Liquid
By Technology:
- Water
Soluble
- Solvent
Soluble
By End Use:
- Refineries
- Commercial
- Institutional
By Fuel Type:
- Gasoline
- Diesel
- Aviation
Fuel
- Fuel
Oils
- Lubricants
& Greases
- Other
Distillates (Kerosene,.,)
By Product Type:
- Azo
Dyes
- Anthraquinone
Dyes
- Ethyl
Dyes
- Fluorescent
Dyes
- Markers
and Tracers
By Colour:
- Red
- Blue
- Green
- Yellow
- Orange
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Full Report: https://www.futuremarketinsights.com/reports/petroleum-fuel-dyes-and-markers-market
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