Hydrocracking Market – Analysis and Forecasts from 2016 to 2024 Hydrocracking Market - Global Industry Analysis, S

Hydrocracking
Market
-
Global
Industry
Analysis, Size, Share, Trends, Growth, and
Forecast 2016 - 2024
Global Hydrocracking Market: Overview
Hydrocracking process is carried out in two steps in a petroleum refinery to convert
heavy oil feedstock into high quality lighter fuel products such as diesel, gasoline,
kerosene, and naptha. Different kinds of feedstock are processed in hydrocrackers
such as atmospheric gas oils, vacuum gas oils, deasphalted oil, and thermally
cracked gas oils.
Depending upon the type of products, hydrocrackers can be segmented into single
stage, series, and two-stage flow. Single-stage hydrocrackers are primarily used to
generate feedstock for other processes as the product efficiency is not satisfactory
enough on account of incomplete conversion. Two-stage flow was the dominant
segment in the market in 2014 and is slated to hold on to its leading position in the
years to come due to its design efficiency and lower cost of production. Preference
for technologically advanced two stage and series flow products is predicted to dent
the demand for single flow hydrocrackers in the near future.
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Global Hydrocracking Market: Trends and Opportunities
The global market for hydrocracking is slated to tread on a solid growth path in the
near future on the back of solid demand for middle and light distillates such as jet
fuel, kerosene, diesel, and gasoline, particularly from the emerging economies of
Southeast Asia and BRICS. The capability of hydrocrackers to change gas and crude
oil into smaller components with reduced production of coke as a by-product is
predicted to further enhance the growth of the market. The global glut in oil and
gas, along with increasing refinery capacities, technological advancements, and
strong focus on research and development, is also expected to have a positive
impact on the market.
Countering the growth in the market is the steep initial investment and operating
expenses. Further, technological issues pertaining to hydrocracker temperature
control and catalyst replenishment system is hampering seamless manufacture. An
exhaustive technology licensing process is also posing hurdles to the growth of the