Emulsified Fuel Market: Introduction
- Emulsified fuel is a mixture of surfactant and water in fuel oil. It is used to run boilers and engines (cars, heavy machinery, etc.). When burned, the calorific value of emulsified fuel does not decrease because of the presence of water. This is a key characteristic of emulsified fuel. Furthermore, emulsified fuel offers several benefits. For instance, it curbs emissions of harmful substances, optimizes combustion efficiency, and reduces maintenance need in engine and boiler.
- Based on stability and particle size distribution, emulsified fuels are available in two forms: micro emulsion and ordinary emulsion (sometimes referred to as macro emulsion)
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Key Drivers and Restraints of Emulsified fuel Market
- Of late, demand for diesel engine has increased significantly owing to the rise in investments in the construction sector and surge in demand for emergency power, primarily in rural areas. Increase in demand for diesel engine has led to the concern of carbon emissions. This, in turn, has compelled researchers to focus on innovation of alternative fuels such as emulsified fuel, which can improve thermal efficiency and reduce the emission of the engine. This is likely to fuel the demand for emulsified fuels across the globe during the forecast period
- Increase in international seaborne trade activities and implementation of stringent regulations to minimize emissions from marine vessels are key factors driving the global emulsified fuel market. Water-emulsified diesel improves physical or chemical properties of fuel and reduces the existing diesel engine emissions. In April 2018, the International Maritime Organization (IMO) adopted an initial strategy on the reduction of greenhouse gas emissions from marine vessels, with a target to reduce the total annual greenhouse gas emissions up to 50% by 2050 compared to the 2008 level.
- Technological innovations and advancements in design of engines to improve operational efficiency are likely to propel the global emulsified fuel market. However, availability of alternate substitutes, such as LNG, is a major factor expected to hamper the market between 2020 and 2030.
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Water Continuous Emulsified Fuel Segment to Hold Major Share of Global Emulsified fuel Market
- The global emulsified fuel market can be segmented based on fuel and application. Based on fuel, the global emulsified fuel market can be divided into water continuous emulsified fuels, oil continuous (water-in-oil) emulsified fuels, and others. Water continuous emulsified fuel is one of the extensively used fuels in the emulsified fuel market. Water continuous emulsified fuel is used as alternative fuel due to its low emission and high brake thermal efficiency properties.
- In terms of application, the global emulsified fuel market can be divided into marine, industrial, and others. The marine segment is anticipated to expand significantly, led by enactment of strict regulations to limit the emissions from ships. Addition of water to the diesel process lowers NOx emissions and decreases combustion temperatures. This, in turn, is expected to propel the in marine segment of the emulsified fuel market during the forecast period.
North America Emulsified Fuel Market to Expand Rapidly
- In terms of region, the global emulsified fuel market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- The emulsified fuel market in North America is anticipated to expand at a significant pace during the forecast period. Growth of the market in the region can be ascribed to increase in investments in enhanced oil recovery techniques along with ongoing discoveries of new hydrocarbon resources.
- This market in Asia Pacific is estimated to expand at a fast-paced CAGR during the forecast period due to rise in recreational water activities, logistics, and fishing, primarily in developing countries such as India and China. Emulsified fuel is used in ships to reduce combustion temperatures and lower NOx emissions.
- The emulsified fuel market in Europe is projected to expand during the forecast period due to the enactment of stringent regulations to minimize carbon emissions from ships
- The emulsified fuel market in Middle East & Africa and Latin America is likely to expand at a sluggish pace during the forecast period due to increase in demand for diesel engine in various industries such as construction, oil & gas, and marine
