Global Alkylate Market Is Anticipated to Surge Approximately $25.7 Billion By 2030

The global alkylate market size was nearly $11.6 Billion in 2022 and is anticipated to surge to approximately $25.7 Billion by 2030 along with recording the highest growth rate of nearly 10.1% from 2023 to 2030.

Alkylate is gaining huge popularity as a major component used for manufacturing green & high-octane gasoline by using isobutylene as a raw material. With the use of isobutylene, producers have formed a strong research base in the methods optimizing the output of alkylate isooctane while reducing the end-point. Governments are investing majorly in setting manufacturing bases for producing alkylate and this has provided impetus to the expansion of alkylate business across the globe.

Large-scale use of alkylate in the formation of various pesticides including herbicides, insecticides, and germicides has prompted the expansion of alkylate market across the globe. Humungous demand for the product in chemicals used in farming activities will proliferate the growth of the global alkylate market across the globe. Escalating penetration of alkylate in the automotive and farming sectors along with government-promoting product use in these sectors will help the market ascend to newer heights in the years to come.

Nevertheless, the easy availability of substitute products is lower prices and massive demand for electric cars across the globe can put brakes on the expansion of the alkylate industry across the globe. Moreover, alkylates are explosive and this can restrict their use in the automotive sector. However, the lucrative demand for highly-efficient gasoline in the automotive sector will generate new growth opportunities for the global industry.

The global alkylate market is sectored into end-use, application, production process, and region.

The production process segment of the global alkylate market is sub-divided into sulfuric acid alkylation, hydrofluoric acid alkylation, and others. Furthermore, the hydrofluoric acid alkylation segment, which led segmental surge in 2022, is slated to retain its segmental dominance in the coming years. The segmental expansion over 2023-2030 can be subject to a rise in use of the hydrofluoric acid alkylation process for manufacturing alkylate as they can withstand changing temperatures as compared to the sulfuric acid alkylation process.

On basis of end-use, the alkylate industry across the globe is sectored into aviation, automotive, agriculture, and others segments. Moreover, the agriculture segment, which accounted for the major share of the global industry in 2022, is anticipated to dominate the segmental expansion in the upcoming years. The growth of the segment can be credited to the extensive application of pesticides in farming activities as it is necessary to curtail crop infections. Apart from this, the use of alkylates in agrochemicals and pesticide sulfonation will further augment the scope of demand for alkylate in agriculture activities. 

In terms of application, the alkylate market is segmented into solvents, functional fluids, surfactants & synthetic sulfonates, and additives. Moreover, the solvents segment is predicted to dominate the application segment in the forecasting years owing to the extensive application of solvents in chemical processes in labs, biotech research & development activities, and biology activities.

Furthermore, the North American region, which contributed nearly 75% of the global market revenue share in 2022, is predicted to dominate the global market in terms of both earnings and volume over the forecast timespan. The growth of the alkylate market in North America over the forecast timeline can be a result of an increase in the allocation of funds by the U.S. aerospace industry for manufacturing alkylate. In addition to this, the growing penetration of the compound in automotive and aerospace sectors in the countries such as Canada and the U.S. will uplift the market surge in the sub-continent in the next couple of years.

On the other hand, the alkylate industry in the Asia-Pacific is expected to register the highest gains in the upcoming years. The regional market development in the next eight years can be subject to factors such as an increase in product use across the civil aviation and aerospace sector in countries such as India and China.

This review is based on a report by Zion Market Research, titled “Alkylate Market By Production Process (Sulfuric Acid Alkylation, Hydrofluoric Acid Alkylation, and Others), By End-Use (Aviation, Agriculture, Automotive, and Others), By Application (Solvents, Functional Fluids, Surfactants & Synthetic Sulfonates, and Additives), and By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030.”- Report at https://www.zionmarketresearch.com/report/alkylate-market

Recent Developments:

• In the second quarter of 2019, Royal Dutch Shell Inc., a key player in the energy & petrochemical industry, declared that it will increase the gasoline overhaul helping in the production of residual catalytic cracking units at its plant in the U.S. The strategic initiative will assist in raising alkylate production across various states in the U.S., thereby accelerating the industry surge.
• In the first half of 2021, Chevron Corporation, a U.S.-based firm in the oil & gas production business, and Honeywell Systems, a Fortune 500 firm manufacturing new technologies, entered into a partnership for commencing ISOALKYTM process unit. This will help them utilize ionic liquids for producing alkylate. For the record, the ISOALKYTM tools display a key breakthrough in the alkylation process, thereby steering the expansion of the alkylate market across the globe.
• In the first quarter of 2021, Lummus Technology LLC, a key licensor of petrochemicals, gasification, and gas refining, announced that it is launching an alkylate production unit in China for expanding its business in Asia and making it the largest alkylation unit across the globe. The initiative will raise the earnings of the firm apart from contributing notably towards the global market proceeds.

Key players in the global alkylate market include:

• Hengyi Industries Sdn Bhd (Malaysia)
• Janex S.A (Switzerland)
• Honeywell International Inc. (U.S.)
• ExxonMobil Corporation (U.S.)
• Koch Engineered Solutions (U.S.)
• Marathon Petroleum Corporation (U.S.)
• PJSC Lukoil Oil Company (Russia)
• BASF SE (Germany)
• Royal Shell plc (UK)
• Chevron Corporation (U.S.)
• SOLVAY (Belgium)
• Soltex Inc. (U.S.)
• Dupont (U.S.)
• Valero (U.S.)
• Ashland Inc. (U.S.)
• Neste (Finland)
• Reliance Industries Limited (India)
• Adrol (U.S.)
• Cosmique Pvt. Ltd. (India).

The global alkylate market is segmented as follows:

By Production Process

• Sulfuric Acid Alkylation
• Hydrofluoric Acid Alkylation
• Others

 By End-Use

• Aviation
• Agriculture
• Automotive
• Others

By Application

• Solvents
• Functional Fluids
• Surfactants & Synthetic Sulfonates
• Additives

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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