Treated Distillate Aromatic Extracts Market Highlights to 2023
Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, “global treated distillate aromatic extracts market was valued at USD 796.5 million in 2016 and is predicted to grow at CAGR of 3.71% to reach USD 1,027.7 million by the end of 2023. Rubber production is the primary application area of TDAE. Therefore, transportation industry has been providing consistent growth to this market. Earlier, Europe was the largest consumer in this market. However, strict regulations by the EU have brought drastic changes and the region has lost its market leadership. As of 2017, Asia Pacific emerged as the global leader due to flourishing automotive demand driven by the economic advancements.
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Some of the prominent players operating in the Global TDAE Market are Lanxess (Germany), Royal Dutch Shell plc (the Netherlands), Total S.A. (France), Eni S.p.A. (Italy), Gazpromneft Lubricants (Russia), ATDM (Iran), H&R Group(Japan), Halliburton (U.S.), Nynas (Sweden), and CPC Coproration (China), among others.
Treated Distillate Aromatic Extracts (TDAE) are solvent extracts of distillates from a vacuum tower; these substances are complex, highly viscous liquids that contain predominately aromatic hydrocarbons covering the carbon number range of C15 to C50. The aromatic extracts are used as blending components of heavy fuels, as feed stock for production of battery containers, belting & hoses and in the manufacture of rubber and plastics. The main functions of these compounds are to reduce viscosity, elasticity, and increase the bulk of the rubber to lower cost.
The Global TDAE Market spanned across five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, the Middle East & Africa is predicted to grow with the highest CAGR during the review period, 2017 to 2023 on account of expanding oil & gas industry. The demand for TDAE is predicted to surge in numerous countries of the Middle East & Africa such as Iraq, the United Arab Emirates, Saudi Arabia, Iran, and Kuwait due to high adoption rate by the crude oil refineries. Moreover, the presence of tremendous oil & gas reserves in this region is predicted to propel the growth of the market.
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The Middle East & Africa has emerged as the leading market region for TDAE followed by North America and Asia Pacific. North American TDAE market is predicted to witness a tremendous growth on account of high heavy oil consumption potential In the U.S. marine transportation industry accounts for more than 50%. Given its strategic importance to international trade, the marine transportation industry is considered the important factor of the global economy.
The Global TDAE Market is categorized on the basis of application, and region. On the basis of application, the TDAE market is categorized into tires & tubes, belting & hoses, battery containers, extruded products, and others. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
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