Low Sulfur Fuel Oil Market Insights to Register Substantial Expansion by 2023

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Low Sulfur Fuel Oil Market 

• - Global Industry Analysis, Size, Share, Growth
  Trends 2015 - 2023

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Global Low Sulfur Fuel Oil Market
Snapshot

• The low sulfur oil market has been recently
  witnessing massive impetus from the changing
  regulations in the marine industry.
• The recent impetus is spearheaded by momentum
  generated from New International Maritime
  Organization (IMO) regulations that calls for
  slashing the highest percentage of the sulfur
  marine fuels can contain.
• The norms will kick in in the next year that is
  in 2020. This has now started to stir the
  shipping industry to transition to low-sulfur
  fuel oil.
• Undoubtedly, the industry has remained as the
  biggest contributor of sulfur to the environment,
  accentuating the risk of sulfur dioxide in the
  atmosphere. 

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Diverse Business Strategies by Vendors Driving
Market Growth

• While reducing the sulfur content in highway
  diesel, a slight impact was made on the sulfur
  content in heating oil.
• As per the designated industry standards 5,000
  ppm was considered as the top line for sulfur in
  heating oil.
• The average stocks for heating oil tend to lie in
  the range of 2,000 ppm to 2,500 ppm.
• This is majorly due to the spillover effect from
  refining of highway dieselas refineries
  manufacture heating fuel and transportation
  diesel by the same processes.
• The sulfur content in oil, then primarily
  depends on the place where the process was
  carried out. 

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Low Sulfur Fuel Oil Market apllication

• Post the regulations drafting, there has been an
  air of uncertainly in fuel prices for the marine
  industry.
• This has led to a growing number of futures
  contracts among shipping and energy firms,
  especially in developed nations.
• This has spurred trade activities in low-sulfur
  marine fuel, thus boosting the prospects in the
  low sulfur oil market.
• The shift toward cleaner fuels is one of the key
  drivers for the market. The marine industry is
  becoming increasingly aware about the ways that
  can help it contribute to reducing air pollution.
  

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Some of the key companies in Low Sulfur Fuel Oil
Market 

• Lanxess, OMNOVA Solutions (Eliokem)
• LG Chem
• Nitriflex
• Zeon Chemicals

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