Future Market Insights has conducted an in-depth study of the petroleum – fuel dyes and markers market in its recent report titled ‘Petroleum – Fuel Dyes and Markers Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027’. The market is on track to witness a moderate CAGR of 4.4% from 2017 to 2027. The azo dyes segment accounts for more than 60% market share in the petroleum – fuel dyes and markers market by product type and is expected to gain substantial share over the forecast period. Azo dyes are popular because their red colour is quite useful in dyeing and tracing. Azo dyes are poised to gain a massive 220 BPS over the course of the study and this is largely at the expense of all other product types in the petroleum – fuel dyes and markers market.
Diesel fuel imbibes the maximum amount of markers and dyes as consumables explaining its prominence in the petroleum – fuel dyes and markers market. The markers and fuel dyes used in diesel are anticipated to grow at 4% p.a. over the ten-year study period. Diesel is projected to create an incremental dollar opportunity of more than US$ 360 million between 2017 and 2027. Solvent soluble dyes dominate the petroleum – fuel dyes and markers market in terms of technology and are unlikely to cede this commanding position anytime soon. The solvent soluble dye segment is estimated to have a value of more than US$ 1.3 billion by the end of 2027. Solvent soluble dyes have a higher growth rate primarily because of their solubility in either organic solvents or hydrocarbons. Ongoing R&D and product development should further benefit solvent soluble dyes in the petroleum – fuel dyes and markers market.
Liquid fuel dyes and markers are predicted to register substantial growth and their market attractiveness index is nearly twice that of powder dyes and markers in the petroleum – fuel dyes and markers market. Liquid fuel dyes and markers assist in fuel miscibility considerably whereas powder based fuels and dyes are premixed to enhance fuel solubility. In addition, the handling, safety, and health issues linked to powder-based dyes and markers make them a distant second to liquid dyes and markers in the petroleum – fuel dyes and markers market.
Red dyes and markers are prominent in the petroleum – fuel dyes and markers market and should barrel past 126,000 tonnes by volume in 2027. The consumption of red dyes and markers is intricately connected to gasoline and diesel segments as these two have a higher demand than other fuel types. Kerosene may offer some scope for red dyes in the future and use of red dyes and markers is governed by U.S rules and regulations. The refinery segment has the highest market attractiveness in the petroleum – fuel dyes and markers market and an incremental dollar opportunity of just under US$ 350 million for the period from 2017 to 2027 is waiting to be tapped.
The companies profiled in the petroleum – fuel dyes and markers market report are Johnson Matthey, The Dow Chemical Company, BASF SE, SGS SA, Innospec, Marquard & Bahls, Pylam Products Company, John Hogg Technical Solutions, SBZ Corporation, United Color Manufacturing, Spectronics Corporation, Mid Continental Chemical, Organic Dyes and Pigments, Orient Chemical, American Gas & Chemical Co., Authentix, AXI International, Axyntis Group, Rodanco, and Sunbelt Corporation.
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There is a lucrative opportunity with regards to regulations of checking taxed and untaxed diesel fuel worldwide. Some nations use fuel dyes to shade untaxed diesel fuel and vehicles are occasionally inspected for untaxed fuel usage. The use of diesel mandates the use of different dye colours for differentiation. This is sometimes joined with a framework where some vehicles are exempted from tax duties and they are allowed to purchase un-coloured diesel fuel. Thus, there is limitless potential for the petroleum – fuel dyes and markers market in this sector.