Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 11.6 Billion | USD 25.7 Billion | 10.1% | 2022 |
FrequentlyAsked Questions
Alkyate is a high-octane gasoline component that is derived through light olefins reaction from steam cracking units as well as fluid catalytic cracking units. Moreover, the compound has proved to be akey component in outputting clean high-octane gasoline from isobutylene feedstock.
The global alkylate market is projected to expand over 2023-2030 due to an increase in the research & development activities pertaining to the rise in the government expenditure on agriculture, aerospace, and automotive sectors along with a focus on research activities related to alkylate production will embellish the growth of the global alkylate market growth. Growing demand for clean fuel in aviation activities will further propel the expansion of the global market.
According to study, the global alkylate market size was $11.6 billion in 2022 and is projected to reach $25.7 billion by the end of 2030.
The global alkylate market is anticipated to record a CAGR of nearly 10.1% from 2023 to 2030.
The Asia-Pacific Alkylate industry is set to register the fastest CAGR over the forecasting period subject to a rise in use of the product in civil aviation and aerospace in China.
The global Alkylate market is led by industry players such as 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.), and Cosmique Pvt. Ltd. (India).
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