"Actionable Insights to Fuel Your Growth"
Kerosene is a light petroleum distillate that is used for varied applications such as cookstoves, space heaters, water heaters, and light lamps when it is burned in wick-fed lamps. Considering its properties, it is one of the most versatile hydrocarbon fuels. Generally refined from petroleum, it is also obtained from coal, wood, and shale. Kerosene is also called by various other names in different fields of applications such as paraffin, lamp oil, paraffin oil, and others. Multiple areas of application of kerosene are aviation (jet fuel), heating oil, entertainment activities, chemical industries and fuel for lamps. Kerosene used for the aviation industry is of slightly higher quality than the other utilized for other applications. With the growing air traffic in recent years, the demand for kerosene has also increased driving its market growth.
On the basis of its types, the global kerosene market can be segmented into type1-K and type 2-K. Type1-K is majorly used for the aviation industry as jet fuel, and this will drive the segment growth over the given forecast period. Based on its application the global kerosene market can be segmented into aviation, chemicals, agriculture and others. The growing airline industry will drive the aviation segment to hold a lion share in the kerosene market in the coming years.
Key Market Driver -
Growing air traffic with socio-economic growth
Key Market Restraint -
Adoption of other clean energy sources can hinder the market growth
With the improving economy of countries, disposable income has increased, which has led to an increase in air traffic owing to its advantages over other transport means. Also, the availability of various competitors in the airline industry and brought down air transport expenses. This has, in turn, acted as a significant boost for global kerosene market growth.
Key market restraint for the global kerosene market is the increasing adoption of alternative clean energy sources such as biofuels, and fuel cells. This can lead to the replacement of kerosene and therefore hinder the market growth.
Key players operating in the global kerosene market are ExxonMobil, Total, Shell, Chevron, Gazprom, Bharat Petroleum Corporation Limited, Reliance Industries Limited, SINOPEC, China National Petroleum Corporation, Rosneft, BP, Allied Aviation Services, and PetroChina.
To gain extensive insights into the market, Request for Customization
The global kerosene market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Owing to the healthy growth of the economy, the disposable income of people around the globe has increased. This has led to increased air traffic and more number of airlines to come up. The Asia Pacific dominates the kerosene market currently owing to its high population, and the use of kerosene still carried out in several countries. Following the Asia Pacific, Europe and North America hold a significant market share owing to a higher number of military aircraft and fragmented airlines in the region. Latin America and the Middle East and Africa have also witnessed a growth in air traffic and hold excellent growth opportunities for the market in the given forecast period.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry