LONDON--(BUSINESS WIRE)--Technavio’s global hydrocracker market research report projects the market to grow at a CAGR of around 2% during the forecast period.
The fluctuations in crude oil prices will be one of the major trends in the global hydrocracker market during 2018-2022. The crude oil prices play a major role in oil and gas production. The steep variations of crude oil prices witnessed over the year affected the entire value chain, because of which many E&P activities for oil and gas were put on hold. According to the lEA, the price of crude oil was highest in 2012 at USD 107.8 per barrel and reached its lowest in 2016 at USD 40.4 per barrel.
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According to Technavio analysts, one of the key drivers for the global hydrocracker market is the increased complexity of refineries:
Global hydrocracker market: Increased complexity of refineries
The complex refineries typically run heavier, more sour crude oils and produce higher quality products. High-complexity refineries produce the highest yields of lighter and higher-value products by means of catalytic cracking, hydrocracking, and coking capacities. The complex refineries take advantage of the price differentials, which exist between different crude oils owing to supply and demand, gravity, quality, and location imbalances.
According to a senior analyst at Technavio for research on oil and gas, “A hydrocracker is a complex unit used for upgrading a refinery to produce jet fuel, diesel, and gasoline. The Nelson Complexity Index that was introduced in the 1960s for quantifying the degree of complexity and sophistication of refineries, classifies the refineries from simple to complex. The refineries with high complexity index can process low-grade crude oil.”
Global hydrocracker market: Segmentation analysis
This global hydrocracker market analysis report provides market segmentation by product (single-stage and two-stage) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the single-stage segment held the largest hydrocracker market share in 2017, contributing to over 72% of the market. This product segment will dominate the global market throughout the forecast period.
The EMEA region held the largest share of the market in 2017, accounting for close to 38% share. It was followed by APAC and the Americas, respectively. EMEA is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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