The energy chemicals global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Energy Chemicals Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The energy chemical market size has grown strongly in recent years. It will grow from $114.94 billion in 2023 to $124.6 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to rising demand for chemicals in carbon capture, demand for energy-efficient processes, rising demand for corrosion inhibitors in energy infrastructure, growth of the fuel additives market, rising demand for chemicals in electric grid maintenance.
The energy chemical market size is expected to see strong growth in the next few years. It will grow to $163.46 billion in 2028 at a compound annual growth rate (CAGR) of 7%. The growth in the forecast period can be attributed to rising global energy consumption, increasing in energy transition initiatives, renewable energy policies stimulating, growing demand for petrochemicals, increasing demand for specialty chemicals in energy production. Major trends in the forecast period include technological innovations in fracking, development of advanced drilling techniques, investment in smart grid technology, adoption of digitalization in energy production, expansion of biomass energy facilities.
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Scope Of Energy Chemicals Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Energy Chemicals Market Overview
Market Drivers –
The rise in global energy consumption is expected to propel the growth of the energy chemicals market going forward. The adoption of technology, including electronic devices, electric vehicles, and smart appliances, contributes to increased energy consumption. Energy chemicals, such as fuel additives and catalysts, can help to improve energy consumption by enhancing the efficiency of energy production processes, reducing emissions, and improving fuel economy in vehicles and industrial applications. For instance, in 2022, according to the Energy Information Administration, a US-based government agency, in the United States, primary energy consumption reached a notable 100.4 quadrillion british thermal units (quads) in 2022, marking a 3% increase from the preceding year. Therefore, the rise in energy consumption is driving the growth of the energy chemicals market.
Market Trends –
Major companies operating in the energy chemicals market are focusing on innovative technology systems, such as downhole monitoring systems to gain a competitive edge in the market. A downhole monitoring system is a technology used in the oil and gas industry to provide real-time data from downhole and surface equipment, allowing for continuous monitoring of pressures, temperatures, and other critical parameters. For instance, in July 2021, Halliburton Company, a US-based oilfield service company, launched express fiber, a single-use fiber-optic cable designed to offer accurate, direct subsurface measurements, including cross-well communication. This system, which includes products such as expressfiber and smartfleet, utilizes fiber optic sensing and real-time analytics to provide subsurface insight and improve fracture monitoring during stimulation. This technology allows for direct and accurate measurements of subsurface conditions, leading to more informed decision-making and optimized well performance.
The energy chemicals market covered in this report is segmented –
1) By Type: Polymers, Fuel Additives, Solvents
2) By Application: Petrochemicals, Pharmaceutical, Packaging Products, Cleaning And Detergent Products, Automotive, Other Applications
3) By End-Use Industry: Oil And Gas, Power Generation, Construction
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Regional Insights –
North America was the largest region in the energy chemicals market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the energy chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the energy chemicals market are Exxon Mobil Corporation, Royal Dutch Shell PLC, TotalEnergies SE, Chevron Corporation, Eni S.p.A., Reliance Industries Limited, BASF SE, Repsol S.A., The Dow Chemical Company, Saudi Basic Industries Corporation, LyondellBasell Industries N.V., Occidental Petroleum Corporation, Mitsubishi Chemical Holdings Corporation, Linde plc, Schlumberger Limited, Baker Hughes Company, Braskem S.A., PPG Industries Inc., Sasol Limited, Ecolab Inc., DuPont de Nemours Inc., Air Products and Chemicals Inc., Eastman Chemical Company, Huntsman Corporation, Clariant AG
Table of Contents
1. Executive Summary
2. Energy Chemicals Market Report Structure
3. Energy Chemicals Market Trends And Strategies
4. Energy Chemicals Market – Macro Economic Scenario
5. Energy Chemicals Market Size And Growth
…..
27. Energy Chemicals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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