Alkylate Market to Grow by 1.3X as Demand in Aviation Industry Gradually Returns to the Pre-pandemic Level

NEW YORK, Oct. 4, 2021 /PRNewswire/ -- As per a study published by Fact.MR, the global alkylate market is expected to reach US$ 78.1 billion by the end of 2021. In response to the rapid advancement in manufacturing sector and surging demand from the automotive and aviation industries, the market is expected to top US$ 100 Bn by 2031, growing at a steady 2.5% CAGR. NEW YORK,Oct. 4, 2021/PRNewswire/ -- As per a study published by Fact.MR, theglobal alkylate marketis expected to reach...

NEW YORK, Oct. 4, 2021 /PRNewswire/ -- As per a study published by Fact.MR, the global alkylate market is expected to reach US$ 78.1 billion by the end of 2021. In response to the rapid advancement in manufacturing sector and surging demand from the automotive and aviation industries, the market is expected to top US$ 100 Bn by 2031, growing at a steady 2.5% CAGR.

Expansion witnessed in the aviation industry is driven by the increasing air travel passenger traffic and freight worldwide. According to a report by the International Civil Aviation Organization, around 4.5 billion passengers were carried on schedule in 2019, resulting in around 38.3 million aircraft departures across the globe. As alkylate is extensively used in the production of aviation fuel, increasing air travel will provide immense sales opportunities for the market players.

Some of the leading market players are heavily investing in expanding their production capacity by installing novel alkylation units. For instance, Hengli Petrochemical, a company based in China, announced installing a novel STRATCO alkylation unit at its new crude-to-paraxylene integrated petrochemical and refining facility in July 2020. The unit assists the company to produce 300,000-tonnes/year high quality alkylate. Driven by such developments in the landscape, the market is projected to total US$ 100 billion through 2031.

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As per Fact.MR, application in solvent is projected to grow at a CAGR of 3% through 2031, sealing its dominance in the market. Consistently rising demand for solvent in biotechnological, chemical laboratories, and others industries will bolster scope for alkylate application in the coming years.

"With surging demand for cleaner-burning gasoline blend components, leading manufacturers are emphasizing on research and development (R&D) for optimizing the process of sulfuric acid alkylation to reduce the rate of acid consumption while the high-octane blending of motor gasoline. These efforts are expected to facilitate the market growth in the coming years," says a Fact.MR analyst.

Key Takeaways from the Alkylate Market Analysis

Key Drivers

Key Restraints

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Competitive Landscape

Some of the leading manufacturers in the global alkylate market are Reliance, Marathon Petroleum, ExxonMobil, and LUKOIL, as per Fact.MR. Key player are focusing on the expansion of their production capabilities and establishing new manufacturing facilities to address the rise in demand across key various industries. For instance,

Some of the leading players in the market profiled by Fact.MR are:

More Valuable Insights on Alkylate Market

Fact.MR, in its new report, offers an unbiased analysis of the global alkylate market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in alkylate market with detailed segmentation:

• By Production Process

• By End Use

• By Application

Key Questions Covered in the Alkylate Market Report 

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