- The use of fuel dyes and markers in coloration for commercial purposes is anticipated to keep a steady demand for these products over the forecast period.
- North America is panned to observe substantial petroleum and fuel dyes and markers market growth over the forecast period.
- Increasing government regulations is estimated to showcase a steady growth in the market.
The global petroleum and fuel dyes and markers market is segmented by type:-fluorescent dyes, azo dyes, ethyl dyes, others; by application:- low tax fuel, high sulfur fuel, others; by form:-powder, liquid, solvent blend and by regions. Petroleum and fuel dyes and markers market is anticipated to mask a moderate CAGR of 2.4% during the forecast period i.e. 2018-2027.
Petroleum and fuel dyes and markers are synthetic or organic, unsaturated aromatic substances that are capable of solubilizing in petroleum hydrocarbons and imparting intense coloration to the petroleum products. The capability of these products for solubilizing in lubricants, hydrocarbon oils, fuel additives, diesel and much more makes them the foremost attractive choice for petroleum and fuels coloration for the market players across the developed and developing regions around the globe.
Moreover, the use of fuel dyes and markers in coloration of shoe polish, beeswax, lamp oils, candles and much more for commercial purposes is anticipated to keep a steady demand for these products over the forecast period.
As a developed region with foremost running petroleum industries, North America is panned to observe substantial petroleum and fuel dyes and markers market growth over the forecast period. North America is estimated to be followed by Europe in terms of petroleum products and oil consumption due to expanding petroleum and fuel industries and their derivative product demand across the region. Asia Pacific is expected to drive demand and positively impact petroleum and fuel dyes and markers market growth over the forecast period on the back of increasing petroleum and crude oil products application along with expanding crude oil and gas industries across the region.
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Increasing Government Regulations
Increasing government regulations associated to the use of petroleum and fuel dyes and markers in order to reduce petroleum products related accidents across the regions around the globe is estimated to showcase a steady growth of petroleum and fuel dyes and markers market over the forecast period. The usage of petroleum and fuel dyes and markers as per government regulations for the purpose of differentiation between low tax fuels, high taxation fuels and tax exempted fuels is anticipated to maintain a steady demand for the petroleum and fuel dyes and markets market across the developed and the economically developing regions.
However, increasing environmental awareness along with safety concerns associated with the handling of these types of dyes and markers is anticipated to act as the key restraining factors in the growth of the petroleum and fuel dyes and markers market. Furthermore, cost constraints attached to these types of dyes and markers usage due to the association of this market with petroleum market prices is expected to impart significant doubt in the use of these products among the market players.
This report also provides the existing competitive scenario of some of the key players of the global Petroleum and Fuel Dyes and Markers market which includes company profiling of Innospec Inc., John Hogg & Co. Ltd., Improchem. Pty Ltd., Sunbelt Corporation, A.S. Harrison & Co Pty Ltd., Fuel Theft Solutions Ltd, BASF SE, The Dow Chemical Co., United Colour Manufacturing Co., Authentix, Inc.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Petroleum and Fuel Dyes and Markers market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.