Bunker Fuel Market is estimated to be US$ 183.6 billion by 2030 with a CAGR of 4.0% during the forecast period.

Bunker Fuel Market accounted for US$ 124.4 billion in 2020 and is estimated to be US$ 183.6 billion by 2030 and is anticipated to register a CAGR of 4.0%. Bunker fuel is a fuel used on board a ship and most commonly used type is residual fuel oil bunker or Bunker C. The various grades of bunker fuel are mentioned below:

  • Bunker A - Gasoil range bunker fuel, typically called marine diesel or marine gasoil

  • Bunker B - Low-viscosity vac reside range bunker fuel. Typically cut with some lighter material (VGO) to reduce viscosity to the point that it will flow without heating

  • Bunker C - The most common form of bunker. Composed primarily of vac resid range material, with a high viscosity that requires heating in order to pump. Typically sold at several viscosity specifications: 180 centistoke, 380 centistoke, or 460 centistoke, with 380 being the most common grade. The viscosities are measured at 50C, the typical heated temperature of the fuel.


The report “Bunker Fuel Market By Type (Distillate Fuel Oil, Residual Fuel Oil, and LNG), By Application (Tanker Vessels, Container Vessels, Bulk Vessels, and General Cargo Vessels), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030”

Key Highlights:

  • In April 2021, World bank backs ammonia as future bunker fuel.

  • In April 2021, Shangai international energy exchange(INE) launched bunker fuel futures contract which has seen its first use in International trade.

Analyst View:

IMO regulation on sulfur content in the marine fuel and increase in offshore oil & gas exploration activities are the major key driving factors in the growth of the global market. However, fuel reduction initiatives by the shipping community is the key factor which might hamper the growth of the global market. Increase in focus toward LNG as an alternative marine fuel is expected to create opportunity in the global bunker fuel market.

Before purchasing this report, request a sample or make an inquiry by clicking the following link:

https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/3171

Key Market Insights from the report:

The Global Bunker Fuel Market accounted for US$ 124.4 billion in 2020 and is estimated to be US$ 183.6 billion by 2030 and is anticipated to register a CAGR of 4.0%. The global bunker fuel market report segments the market on the basis of type, application, and region.

  • By type, the Global Bunker Fuel Market is segmented into Distillate Fuel Oil, Residual Fuel Oil and LNG

  •  By application, the market is segmented in Tanker Vessels, Container Vessels, Bulk Vessels, and General Cargo Vessels.

  • By region, the Global Bunker Fuel Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. 

Competitive Landscape:

The key players operating in the Global Bunker Fuel Market include Exxon Mobil, World Fuel, Services, BP, Shell, China Marine Bunker, Bunker Holding, Total Marine Fuel, Chemoil, Bright Oil and Sinopec.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

About Prophecy Market Insights

Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

Key Topics Covered

  1. Introduction

  • Study Deliverables

  • Study Assumptions

  • Scope of the Study

  1. Research Methodology

  2. Executive Summary

  • Opportunity Map Analysis

  • Market at Glance

  • Market Share (%) and BPS Analysis, by Region

  • Competitive Landscape

  • Heat Map Analysis 

  • Market Presence and Specificity Analysis

  1. Investment Analysis

  2. Competitive Analysis

To know more

Contact Us:

Sales

Prophecy Market Insights

1 860 531 2701

Email- sales@prophecymarketinsights.com

Comments

Post a Comment

Popular posts from this blog

Membrane technology market accounted for US$ 25.0 billion in 2019 and is estimated to be US$ 48.7 billion by 2029 and is anticipated to register a CAGR of 7.0% .

Image
Membrane technology market accounted for US$ 25.0 billion in 2019 and is estimated to be US$ 48.7 billion by 2029 and is anticipated to register a CAGR of 7.0% The report " Global Membrane Technology Market, By Technology (Ultrafiltration, Chromatography, Microfiltration, Nanofiltration, Reverse Osmosis, and Electrodialysis) and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029” . Key Highlights: In July 2020, SUEZ announced that it has signed an agreement to purchase the Reverse Osmosis (RO) membrane portfolio from specialty chemical company LANXESS. The membrane will become part of the company’ Water Technologies & Solutions product portfolio and further enhances the business’ ability to help customers address water treatment challenges. In August 2020, Suez Water Technologies announced that the Region of Waterloo (Canada) has selected SUEZ’s ZeeLung technology to equip what will be the
Read more

Bioplastic Packaging Market is estimated to be US$ 77.1 billion by 2032 with a CAGR of 25.5% over the forecast period (2022-2032)

Image
Bioplastics are made by converting sugars in plants into plastic, in the United States, that sugar comes from corn, other countries use sugar cane, sugar beets, wheat, or potatoes, and this makes bioplastics renewable and better for the environment than conventional plastics. Unlike conventional plastics made from petroleum, bioplastics are made from renewable biomass sources such as vegetable fats and oils, corn starch, straw, woodchips, sawdust, recycled food waste, etc. Many types of bioplastics offer properties similar to conventional plastics such as durability, flexibility, etc. Food packaging should be natural and environmentally friendly, bioplastics or biopolymers from renewable resources have led to increasing industry interest in petroleum-based polymers as a solution to environmental problems and limited resources. Some bioplastics offer additional functionality, such as biodegradability or compostability, and improved properties, such as increased heat resistance, enhance
Read more

Citric Acid Market is estimated to be US$ 5.03 billion by 2030 with a CAGR of 4.50% during the forecast period.

Image
  Citric Acid Market accounted for US$ 3.26 billion in 2020 and is estimated to be US$ 5.03 billion by 2030 and is anticipated to register a CAGR of 4.50%. Citric acid, having the chemical formula C6H8O7, is a weak organic acid. Because of its features and characteristics, it is widely employed in a variety of end-use industries. It's generally utilised as a flavouring and chelating agent, as well as an acidifier. Citric acid, as one of the more potent edible acids, is commonly employed as a preservative in foods and beverages, particularly soft drinks. It's also used to clean limescale out of boilers and evaporators. The report   "   Global Citric Acid Market, By Form (Power and Liquid), By Application (Food & Beverages, Pharmaceuticals, Personal Care, and Others (detergents & cleansers, animal feed, textile)) and By Region (North America, Latin America, Europe, Middle East, Asia Pacific, and Africa) - Trends, Analysis and Forecast till 2029’’ Key Highlights: In
Read more