Emulsified FuelMarket: Introduction
· Emulsified fuel is a mixture of surfactant and water in fuel oil. It isused to run boilers and engines (cars, heavy machinery, etc.). When burned, thecalorific value of emulsified fuel does not decrease because of the presence ofwater. This is a key characteristic of emulsified fuel. Furthermore, emulsifiedfuel offers several benefits. For instance, it curbs emissions of harmfulsubstances, optimizes combustion efficiency, and reduces maintenance need inengine and boiler.
· Based on stability and particle size distribution, emulsified fuels areavailable in two forms: micro emulsion and ordinary emulsion (sometimesreferred to as macro emulsion)
Key Drivers andRestraints of Emulsified fuel Market
· Of late, demand for diesel engine has increased significantly owing tothe rise in investments in the construction sector and surge in demand foremergency power, primarily in rural areas. Increase in demand for diesel enginehas led to the concern of carbon emissions. This, in turn, has compelledresearchers to focus on innovation of alternative fuels such as emulsifiedfuel, which can improve thermal efficiency and reduce the emission of theengine. This is likely to fuel the demand for emulsified fuels across the globeduring the forecast period
· Increase in international seaborne trade activities and implementationof stringent regulations to minimize emissions from marine vessels are keyfactors driving the globalemulsified fuel market. Water-emulsified diesel improves physical orchemical properties of fuel and reduces the existing diesel engine emissions.In April 2018, the International Maritime Organization (IMO) adopted an initialstrategy on the reduction of greenhouse gas emissions from marine vessels, witha target to reduce the total annual greenhouse gas emissions up to 50% by 2050compared to the 2008 level.
· Technological innovations and advancements in design of engines toimprove operational efficiency are likely to propel the global emulsified fuelmarket. However, availability of alternate substitutes, such as LNG, is a majorfactor expected to hamper the market between 2020 and 2030.
Water ContinuousEmulsified Fuel Segment to Hold Major Share of Global Emulsified fuel Market
· The global emulsified fuel market can be segmented based on fuel andapplication. Based on fuel, the global emulsified fuel market can be dividedinto water continuous emulsified fuels, oil continuous (water-in-oil)emulsified fuels, and others. Water continuous emulsified fuel is one of theextensively used fuels in the emulsified fuel market. Water continuousemulsified fuel is used as alternative fuel due to its low emission and highbrake thermal efficiency properties.
· In terms of application, the global emulsified fuel market can bedivided into marine, industrial, and others. The marine segment is anticipatedto expand significantly, led by enactment of strict regulations to limit theemissions from ships. Addition of water to the diesel process lowers NOxemissions and decreases combustion temperatures. This, in turn, is expected topropel the in marine segment of the emulsified fuel market during the forecastperiod.
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North AmericaEmulsified Fuel Market to Expand Rapidly
· In terms of region, the global emulsified fuel market can be split intoMiddle East & Africa, Latin America, Asia Pacific, Europe, and NorthAmerica
· The emulsified fuel market in North America is anticipated to expand ata significant pace during the forecast period. Growth of the market in theregion can be ascribed to increase in investments in enhanced oil recoverytechniques along with ongoing discoveries of new hydrocarbon resources.
· This market in Asia Pacific is estimated to expand at a fast-paced CAGRduring the forecast period due to rise in recreational water activities,logistics, and fishing, primarily in developing countries such as India andChina. Emulsified fuel is used in ships to reduce combustion temperatures andlower NOx emissions.
· The emulsified fuel market in Europe is projected to expand during theforecast period due to the enactment of stringent regulations to minimizecarbon emissions from ships
· The emulsified fuel market in Middle East & Africa and Latin Americais likely to expand at a sluggish pace during the forecast period due toincrease in demand for diesel engine in various industries such as construction,oil & gas, and marine
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Key Players Operatingin Global Emulsified fuel Market
Leading companies operating in theglobal emulsified fuel market include:
· TecnoVeritas - Services of Engineering and Systems Technology
· Blue Ocean Solutions
· Alternative Petroleum Technologies
· Eneco Holdings Inc.
· NANOFUEL CO., LTD.
· NORITAKE CO.,LIMITED
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