Higher Bunker Fuel Prices Driving up Global Market

Bunker fuel is used in ship's bunkers to power its engines. This fuel is divided into A, B or C grades. The C grade is the thickest and often requiring heating or blending in order to make it flow. There are two types of bunker fuels such as distillate and residual. Distillate fuel is composed of petroleum fractions of crude oil that are separated in a refinery by the distillation process. Residual fuel is also called as residuum or petroleum pitch.

MARKET DYNAMICS
The bunker fuel market has witnessed a significant growth owing to factors such as increasing oil and gas exploration activities in major oil-producing regions and high growth in marine trade globally. Moreover, increasing hydrogen resource development activities in offshore areas coupled with rapidly increasing bunker requirements in crude oil and product tankers boost the growth of the bunker fuel market. However, growing concerns regarding marine pollution have resulted in the imposition of several stringent regulations on the bunker industry. These factors are anticipated to hamper the bunker fuel market over the projected period. The major trend followed in the bunker fuel market is the significant shift towards cleaner and environment-friendly fuels.

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The "Global Bunker Fuel Market Analysis to 2027" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the bunker fuel market with detailed market segmentation by fuel grade, end user, commercial distributor and geography. The global bunker fuel market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading bunker fuel market players and offers key trends and opportunities in the market.

REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global bunker fuel market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The bunker fuel market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the bunker fuel market. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last 3 years, the key development in the past five years.

Chemoil Energy Limited
Exxon Mobil Corporation
Gazpromneft Marine Bunker Ltd
LUKOIL
Marathon Petroleum Corporation
Neste Oyj
Royal Dutch Shell plc,
Total S.A.
Valero Energy Corporation
World Fuel Services Corporation

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.