As per a Transparency Market Research report, the global crude oil desalter and electrostatic dehydrator market is set to see a steady CAGR (Compound Annual Growth Rate in the forecast period (2015-2023). This translates to an increase in market worth from USD 170.54 mn in 2014 to USD 190.61 mn by the end of the forecast period.
Competition in the market is fairly fragmented. Prominent players include Cameron International Corporation, Canadian Petroleum Processing Equipment Inc., Croda International Plc., Custom Process Equipment LLC, EN-FAB Inc., Engineering Technology & Innovation, LLC, and Fjords Processing AS. To have a competitive edge, most players enter strategic partnerships.
Increase in Investment in Asia Pacific and Latin American Countries to Boost Growth
The growth is also attributable to a rise in investment in countries towards upgradation and expansion of refineries. For instance, a joint commission between China and Venezuela is strategizing towards expanding Puerto La Cruz refinery. The move is set to increase refinery’s capacity to 210,000 barrels. In an attempt to expand Mumbai refiner, HPCL announced investment to the tune of USD 150,000 in 2017. The aim was to produce more diesel and gasoline in order to come up to Euro 1V quality standard.
North America will see a steady growth too, owing majorly to production of shale gas. On the other hand, rise in exploration and production in Middle East, especially Saudi Arabia will propel growth. Currently, some of the largest oil producing nations in the country are Iran, Iraq, Saudi Arabia, UAE and Kuwait. Europe will see a decrease as demand for refined oil sees a decline.s
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Need to Crack Larger Molecule to Drive Global Crude Oil Desalter and Electrostatic Market Forward
Not only is there a steady demand for desalter and dehydrator equipment for reducing salt content (usually – calcium chloride, sodium chloride and magnesium chlorides)from crude oil, but also an increasing demand is seen towards breaking bigger molecules into smaller ones. It is what is called demand for FCC i.e. fluid catalytic cracking division. The rate of adoption of the equipment is quite high in refineries. It is usually used to convert molecules in products that can be used better. Besides, there is an increase in new refinery installations. All of it together is hugely driving the market forward. In 2017, Reliance imported heavy dull-range naphtha to handle a supply lag. It imported somewhere between 60000 to 90000 tons in order to power its growing petrochemical clout. The move was a result of frequent ups and downs in supply of Asian Naptha. It also demonstrates how Asia is gearing up for a. increase in petrochemical capacity.
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Decline in Demand for Refined Oil to Act as Restraint for Growth of Crude Oil Desalter and Electrostatic Dehydrator
Countries, especially in the European region are experiencing a decline in demand for refined crude oil. A shift towards non-renewable energy in this region is driving demand down. Counties are switching to cleaner energy and striving hard to reduce carbon footprint. Electric vehicles are another factor. They are quickly catching up on with people. If demand for the oil reduces, so would demand for crude oil desalter and electrostatic dehydrator. But, so far as varied application remains for these products and new untapped opportunities rise at a steady pace in Asia Pacific, this would not remain a concern.
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