#china Chemical Tanker Market

[marketinsight1234]

Global Chemical Tanker Market Size Expected To Reach USD 49700 Million With CAGR 4.70% By 2030

The Global Chemical Tanker Market size was valued at USD 34400 Million in 2023 and is projected to reach USD 49700 Million by 2030, growing at a CAGR of 4.70% from 2023 to 2030.

The Chemical Tanker Market is an integral component of the global shipping industry, primarily focused on the transportation of chemicals, petrochemicals, and various hazardous substances. This market plays a critical role in ensuring the safe and efficient movement of chemicals across the globe. The demand for chemical tankers is closely tied to the chemical manufacturing, petroleum, and industrial sectors. These vessels are specially designed to meet the stringent safety and environmental regulations that govern the transport of hazardous cargo. The market's growth is influenced by several key factors, including market drivers and opportunities.

Get Sample Report: -

Updated Version 2024 is available our Sample Report May Includes the:

Scope For 2024

Brief Introduction to the research report.

Table of Contents (Scope covered as a part of the study)

Top players in the market

Research framework (structure of the report)

Research methodology adopted by Worldwide Market Reports

Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years.

Leading players involved in the Chemical Tanker Market include:

"Stolt-Nielsen Limited (UK), Odfjell SE (Norway), Navig8 Chemical Tankers Inc (US), MOL Chemical Tankers (Japan), Iino Kaiun Kaisha Ltd (Japan), Team Tankers International Ltd (Bermuda), Ardmore Shipping Corporation (Ireland), Nordic Tankers A/S (Denmark), Jo Tankers AS (Norway), Odfjell Tankers AS (Norway), Stena Bulk AB (Sweden), MTMM Group (Singapore), Essberger Tankers (Germany), Bahri Chemicals (Saudi Arabia), Coastal Tankers Pte Ltd (Singapore), MISC Berhad (Malaysia), NCC Group (Japan), Ikarus Petroleum Industries Ltd (Greece), Uni-Tankers A/S (Denmark), Euronav Tankers NV (Belgium) and Other Major Players" 

If You Have Any Query Chemical Tanker Market Report, Visit:

Segmentation of Chemical Tanker Market:

By Material

Stainless Steel

Coated

By Size

Inland Chemical Tankers

Coastal Chemical Tankers

Deep-Sea Chemical Tankers

By Product Type

Organic Chemicals

Inorganic Chemicals

Vegetable Oils Fats

Others

By Tank Type

IMO 1

IMO 2

IMO3

Market Segment by Regions: -

North America (US, Canada, Mexico)

Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)

Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)

South America (Brazil, Argentina, Rest of SA)

Effective Points Covered in Chemical Tanker Market Report: -

Details Competitor analysis with accurate, up-to-date demand-side dynamics information.

Standard performance against major competitors.

Identify the growth segment of your investment.

Understanding most recent innovative development and supply chain pattern.

Establish regional / national strategy based on statistics.

Develop strategies based on future development possibilities. 

Purchase This Reports: -

About Us:

We are technocratic market research and consulting company that provides comprehensive and data-driven market insights. We hold the expertise in demand analysis and estimation of multidomain industries with encyclopedic competitive and landscape analysis. Also, our in-depth macro-economic analysis gives a bird's eye view of a market to our esteemed client. Our team at Pristine Intelligence focuses on result-oriented methodologies which are based on historic and present data to produce authentic foretelling about the industry. Pristine Intelligence's extensive studies help our clients to make righteous decisions that make a positive impact on their business. Our customer-oriented business model firmly follows satisfactory service through which our brand name is recognized in the market.

Contact Us:

Office No 101, Saudamini Commercial Complex,

Right Bhusari Colony,

Kothrud, Pune,

Maharashtra, India - 411038 (+1) 773 382 1049 +91 - 81800 - 96367

Email: sales@pristineintelligence.com

[businessindustry]

Ballast Water Treatment Systems Market Report, By Type, News 2024-2032 | Reports and Insights

The Reports and Insights, a leading market research company, has recently releases report titled “Ballast Water Treatment Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Ballast Water Treatment Systems Market Forecast share, size, trends, and growth. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Ballast Water Treatment Systems Market?

The ballast water treatment systems market size reached US$ 6.2 Billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 12.1 Billion by 2032, exhibiting a growth rate (CAGR) of 8.7% during 2024-2032.

What are Ballast Water Treatment Systems?

Ballast Water Treatment Systems are utilized on ships to manage ballast water, which is taken on board to stabilize the vessel's balance. This water frequently contains diverse organisms that can be detrimental to marine ecosystems if discharged in a different location. The systems are designed to eliminate or neutralize these organisms, including bacteria, viruses, and invasive species, before the water is discharged back into the sea. This process aids in preventing the spread of harmful species and diseases, thereby reducing environmental and economic risks.

Request for a sample copy with detail analysis: https://www.reportsandinsights.com/sample-request/1728

What are the growth prospects and trends in the Ballast Water Treatment Systems industry?

The ballast water treatment systems market growth is driven by various factors. The market for ballast water treatment systems is growing significantly, primarily due to strict regulations aimed at preventing the spread of invasive species through ballast water discharge. These systems are crucial for ensuring ships comply with international standards, leading to increased demand for ballast water treatment solutions. Market expansion is also driven by the rise in maritime trade activities and a heightened awareness of environmental conservation. Additionally, advancements in technology, such as the emergence of more efficient and cost-effective treatment systems, are further propelling market growth. Hence, all these factors contribute to ballast water treatment systems market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

By Type:

Chemical Treatment Systems

Physical Disinfection Systems

Mechanical Systems

By Technology:

Ultraviolet (UV) Treatment

Electro-Chlorination

Advanced Oxidation

Filtration

By Capacity:

Less than 1500 m3/h

1500 m3/h - 5000 m3/h

More than 5000 m3/h

By Vessel Type:

Container Ships

Bulk Carriers

Tankers

Ro-Ro Ships

Others

By Application:

Retrofit

New-build

By End-Use:

Shipping Companies

Offshore Rigs

Military Vessel

Segmentation By Region:

North America:

United States

Canada

Asia Pacific:

China

India

Japan

Australia & New Zealand

Association of Southeast Asian Nations (ASEAN)

Rest of Asia Pacific

Europe:

Germany

The U.K.

France

Spain

Italy

Russia

Poland

BENELUX (Belgium, the Netherlands, Luxembourg)

NORDIC (Norway, Sweden, Finland, Denmark)

Rest of Europe

Latin America:

Brazil

Mexico

Argentina

Rest of Latin America

The Middle East & Africa:

Saudi Arabia

United Arab Emirates

South Africa

Egypt

Israel

Rest of MEA (Middle East & Africa)

Who are the key players operating in the industry?

The report covers the major market players including:

Alfa Laval

Wärtsilä

Evoqua Water Technologies

BIO-UV Group

Trojan Marinex

Optimarin

Panasia

Hyde Marine

De Nora Water Technologies

Xylem Inc.

View Full Report: https://www.reportsandinsights.com/report/Ballast Water Treatment Systems-market

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

Reports and Insights consistently mееt international benchmarks in the market research industry and maintain a kееn focus on providing only the highest quality of reports and analysis outlooks across markets, industries, domains, sectors, and verticals. We have bееn catering to varying market nееds and do not compromise on quality and research efforts in our objective to deliver only the very best to our clients globally.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact Us:

Reports and Insights Business Research Pvt. Ltd. 1820 Avenue M, Brooklyn, NY, 11230, United States Contact No: +1-(347)-748-1518 Email: sales@reportsandinsights.com Website: https://www.reportsandinsights.com/ Follow us on LinkedIn: https://www.linkedin.com/company/report-and-insights/ Follow us on twitter: https://twitter.com/ReportsandInsi1

[seairexim]

Understanding the Exports of South Korea: A Comprehensive Overview

South Korea, officially known as the Republic of Korea, is a prominent global economic player. One of the primary drivers of South Korea's economic success is its robust export sector. Exports have long been a cornerstone of the South Korean economy, contributing significantly to its Gross Domestic Product (GDP) and playing a crucial role in its rapid modernization and development.

Over the decades, South Korea has transformed from a war-torn country to one of the world's leading industrialized nations. The country's exports span various industries, including electronics, automobiles, shipbuilding, petrochemicals, and steel. This article delves into the exports of South Korea, examining the major sectors, top products, and primary trading partners, as well as the overall impact on the national economy.

Top Exports of South Korea: Key Products Driving the Nation's Trade Success

The export portfolio of South Korea is diverse and multifaceted, encompassing a range of high-value products. The nation has established itself as a leading exporter of several key commodities, which have become synonymous with South Korean trade success. Here, we explore some of the top exports of South Korea that are pivotal to the country's economic growth.

Several sectors play a crucial role in bolstering South Korea's export economy. The following are the most significant contributors:

1. Electronics and Semiconductors

South Korea is a global leader in the electronics industry, with companies like Samsung and LG at the forefront. The country is particularly renowned for its semiconductor exports, which are used in a wide range of electronic devices, from smartphones to laptops. The semiconductor industry alone accounts for a substantial portion of South Korea's total exports and is one of the major export of South Korea.

2. Automobiles

The South Korean automotive industry is another major contributor to exports. Renowned brands such as Hyundai, Kia, and Genesis manufacture a variety of vehicles that are exported to markets around the world. The country's automotive industry's reputation for quality and innovation has cemented its position as a key player in the global market.

3. Shipbuilding

South Korea is one of the world's leading shipbuilders. The nation produces a significant number of commercial ships, including container ships, oil tankers, and liquefied natural gas (LNG) carriers. The shipbuilding sector is a vital component of South Korea's exports, demonstrating the country's advanced engineering and manufacturing capabilities.

4. Petrochemicals

The petrochemical industry in South Korea is another significant export sector. The country produces various petrochemical products, including plastics, synthetic resins, and industrial chemicals, which are exported to numerous countries worldwide. The sector's advanced technology and production efficiency make it a competitive player in the global market.

5. Steel and Machinery

South Korea's steel and machinery industry is also a major contributor to its export economy. The country produces high-quality steel products and advanced machinery that are utilized in various industries, including construction, automotive, and electronics manufacturing. The export of steel and machinery highlights South Korea's industrial prowess and technological innovation.

South Korea Exports by Country: Key Trading Partners and Their Impact

South Korea maintains strong trade relations with numerous countries across the globe. Below are the South Korea exports by country and their impacts:

1. China

As South Korea's largest trading partner, China plays a significant role in its export economy. A substantial portion of South Korea's exports, including electronics, petrochemicals, and machinery, are directed towards China. The close economic ties between the two countries have contributed to mutual growth and development.

2. United States

The United States is another major destination for South Korean exports. The trade relationship between the two countries encompasses a wide range of products, including automobiles, electronics, and machinery. The United States' strong demand for high-quality South Korean goods has bolstered the latter's export economy.

3. European Union

The European Union (EU) is a significant market for South Korean exports. The EU's demand for electronics, automobiles, and petrochemical products from South Korea reflects the bloc's confidence in the quality and reliability of South Korean goods. The free trade agreement between South Korea and the EU has further facilitated trade and economic cooperation.

4. Japan

Despite historical and political differences, Japan remains a crucial trading partner for South Korea. The two countries engage in substantial trade, with South Korea exporting electronics, petrochemicals, and steel products to Japan. The economic interdependence between the two nations underscores the importance of maintaining stable trade relations.

5. Southeast Asia

South Korea has also forged strong trade relationships with several Southeast Asian countries, including Vietnam, Indonesia, and Thailand. These countries are important markets for South Korean exports, particularly electronics, machinery, and petrochemical products. The ASEAN-Korea Free Trade Agreement has further enhanced trade and economic collaboration within the region.

Conclusion

In conclusion, the exports of South Korea are a vital component of its economic strength and global influence. The nation's diverse range of high-value products, coupled with strong trade relationships with key partners, has propelled South Korea to the forefront of the global economy. Understanding the key sectors, major products, and trading partners provides valuable insight into the dynamics of South Korea's export economy and its impact on the nation's overall development and prosperity. However, if you need South Korea export data or global trade data, you can take advantage of import and export data providers like Seair Exim Solutions or Eximpedia.

Frequently Asked Questions (FAQs)

Q1. What are the main exports of South Korea?

South Korea's primary exports include electronics and semiconductors, automobiles, ships, petrochemicals, and steel and machinery.

Q2. How significant are electronics and semiconductors to South Korea's export economy?

Electronics and semiconductors are vital to South Korea's export economy, with companies like Samsung and LG leading the global market. The semiconductor industry alone accounts for a substantial portion of the country's total exports.

Q3. Which South Korean automobile brands are prominent in the global market?

Renowned South Korean automobile brands include Hyundai, Kia, and Genesis, known for their quality and innovation.

Q4. What role does shipbuilding play in South Korea's exports?

Shipbuilding is a major export sector for South Korea, producing commercial ships like container ships, oil tankers, and LNG carriers. This industry highlights the country's advanced engineering and manufacturing capabilities.

Q5. Who are South Korea's key trading partners?

South Korea's key trading partners include China, the United States, the European Union, Japan, and several Southeast Asian countries such as Vietnam, Indonesia, and Thailand.

Q6. How have free trade agreements impacted South Korea's export economy?

Free trade agreements, such as those with the European Union and ASEAN countries, have facilitated trade and economic cooperation, boosting South Korea's export economy and strengthening its global trade relationships.

[chemicalsectorupdates]

LNG Bunkering Operations: Best Practices and Risk Mitigation Strategies

The Rising Opportunity: LNG Bunkering Infrastructure Gaining Momentum The shipping industry has been pushing to adopt cleaner fuels to reduce environmental impacts. As one of the cleaner burning alternatives to conventional bunker fuels like heavy fuel oil, liquefied natural gas (LNG) is gaining significant traction in the marine fuel market. LNG as a marine fuel produces virtually no sulphur oxides and around 20% less carbon dioxide emissions compared to heavy fuel oil. Several ports and ship owners across major trade routes are investing in developing infrastructure for LNG Bunkering to support the growing LNG-fuelled fleet. Many key bunkering hubs are introducing refueling operations facilities. Rotterdam has established multiple small-scale refueling operations terminals to serve the large LNG-fuelled ferry and tanker traffic in North West Europe. The Port of Antwerp-Bruges is developing an refueling operations terminal with an annual capacity of 100,000 cubic meters by 2022. Singapore, the world's busiest bunkering port, launched its first refueling operations vessel in 2019 to supply LNG to marine vessels. More recently, the Port of Los Angeles began LNG Bunkering operations leveraging on-dock pipelines. With infrastructure developments gaining pace, ship owners have greater access to LNG fuel across key trade routes. LNG-Fuelled Newbuilds Drive Demand An increasing number of new container ships, ferries, and tankers are being built LNG ready or dual-fuel capable to futureproof compliance with stringent emission norms. Major container lines like Maersk, CMA CGM, and MSC have incorporated LNG propulsion in a part of their new orders to switch to cleaner marine fuels. Finnish ferry operator Viking Line took delivery of the world's largest LNG-powered fast ferry in 2021. Tanker owners are also retrofitting some of their existing oil and chemical tankers to run on LNG. Leading Norway-based shipping companies have been particularly aggressive in adding LNG dual-fuel tonnage to their fleet. As demand rises from new LNG-fuelled ships, ports are establishing bunkering infrastructure to supply the marine fuel along their trade routes. This virtuous cycle of newbuild orders and bunkering infrastructure development is expected to drive exponential growth in LNG Bunkering volumes over the next decade. Major classification societies have classed over 200 vessels LNG-fuel capable thus far. Opportunities Across Markets While short-sea shipping routes in Northwest Europe and domestic Chinese ferry networks have led initial adoption, new opportunities are emerging across markets. Australia has ambitious plans to develop a domestic LNG Bunkering industry to support LNG-fuelled vessels plying coastal trade lanes and offshore oil and gas sectors. North America is witnessing a ramp up with refueling operations gaining traction amongst ferries in Puget Sound and container ships calling LA/Long Beach ports. Conclusion With global decarbonization goals driving the shipping industry's energy transition, LNG Bunkering is poised for strong long-term growth underpinned by cleaner fuel regulations. Investments in infrastructure are synchronizing with increasing LNG-fuelled newbuild orders across a variety of vessel types. Regions beyond initial markets like Northwest Europe and domestic China are now adopting LNG to cut emissions. Mid-scale bunkering infrastructure solutions are emerging as a robust means to optimally supply growing demand. Overall, investments in LNG as a marine fuel present significant commercial opportunities across the marine and energy value chain.

[pearlsmith25]

Cryogenic Tanks Market Saga: Unraveling the Intricacies of Liquid Oxygen Preservation

Cryogenic tanks are vacuum insulated vessels used for storing cryogenic liquids such as liquid nitrogen, liquid oxygen, liquid argon, liquid carbon dioxide and liquid hydrogen at very low temperatures. They are primarily used in several industrial applications such as metal manufacturing, energy & power, electronics, medical technology, food & beverage and shipping. Cryogenic tanks play a vital role in ensuring safe and efficient transportation along with storage of industrial gases. The global Cryogenic Tanks Market is estimated to be valued at US$ 6.51 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The growing demand for industrial gases from various end-use industries such as healthcare, energy & power, food & beverage and metal manufacturing is expected to drive the growth of cryogenic tanks market over the forecast period. Industrial gases like oxygen, nitrogen and argon find wide applications in the manufacturing processes of these industries. Moreover, the demand for liquified natural gas is also growing significantly owing to rising focus on cleaner sources of fuel. This is expected to increase the need for cryogenic storage and transportation solutions like cryogenic tanks and tankers. The ability of cryogenic tanks to efficiently store industrial gases at very low temperatures makes them ideal for the safe handling and transportation of gases over long distances. Thus, the increasing demand for industrial gases from different industries presents lucrative market opportunities for cryogenic tanks during the forecast period.

Porter's Analysis Threat of new entrants: Moderate, high capital requirements for manufacturing cryogenic tanks act as a barrier. However, growing demand opens opportunities. Bargaining power of buyers: Moderate to high. Large buyers can negotiate on price and demand better service levels. However, specialized nature of tanks reduces impact. Bargaining power of suppliers: Moderate. Major suppliers have established relationships but availability of raw material alternatives provides options. Threat of new substitutes: Low. Cryogenic tanks have few substitutes for storage of liquefied gases in large volumes. Competitive rivalry: High. Global players compete on technology, quality, pricing and services. Regional players add competition.

SWOT Analysis Strengths: Growing liquefied gas market. Established infrastructure and technology leadership of major players. Weaknesses: High capital investment requirements. Volatility in raw material prices impacts costs. Opportunities: Rising adoption in new applications like LNG as fuel. Expanding gases market in developing regions. Threats: Stringent regulations over safety and emissions. Substitution threat from alternative gas storage technologies.

Key Takeaways

The global Cryogenic Tanks Market is expected to witness high growth over the forecast period between 2023 to 2030.Technological advancements for more efficient operations and rising demand for liquefied gases like LNG are driving the market.

Regionally, North America leads currently due to large liquefaction plants and increasing exports of natural gas. Asia Pacific is expected to be the fastest growing market due to massive demand from industries and increasing LNG imports in major economies like China and India. Countries like China, Japan and South Korea are focusing on expanding LNG receiving and regasification terminals which will further accelerate cryogenic tanks demand.

Key players operating in the Cryogenic Tanks market are ArcelorMittal, China Baowu Group, Nippon Steel Corporation, POSCO, Shagang Group, Ansteel Group, Glencore, Sumitomo Metal Mining Company, Linde, INOX India Pvt., Cryofab, FIBA Technologies, Air Products and Chemicals, Inc., M1 Engineering, Chart Industries, Wessington Cryogenics, Isisan, Lapesa, Auguste Cryogenics, and Hoover Ferguson Group, Inc. These companies are focusing on partnerships, new product developments and expansion in high growth regions to strengthen their positions.

[latestindustryreports]

Hydrogen Fueling Station Market Drivers, Emerging Audience, Segments, Sales, Trends & Analysis

The “Global Hydrogen Fueling Station Market research report| Industry 2030 year” unveils cutting-edge market research findings. The Insight Partners is leading market research and consultation company is proud to announce the release of a comprehensive research report on the Hydrogen Fueling Station market. Leveraging advanced methodologies and cutting-edge technology Insight Partners has delved deep into market trends to deliver valuable insights for businesses seeking a competitive edge.

Key highlights of this market report:

Thorough Market Analysis-

Insight Partners has conducted an in-depth investigation of the Hydrogen Fueling Station market highlighting key drivers, challenges, and opportunities in the forecast period. Important contents analyzed in this report are key stats such as market size, market segments, revenue projections, and future market trends. This report offers subsegments information and includes information on all major countries and associations. This study further deep dives into market barriers and issues associated with cost and ROIs affecting Hydrogen Fueling Station market companies.

Consumer Behavior Insight

The report provides a nuanced understanding of changing consumer preferences, enabling businesses to tailor their strategies for maximum impact. It comprehensively covers key factors impacting the business with accurate future projections. Investors can make informed decisions based on unbiased market scenario coverage.

Competitive Landscape

The Insight Partners have meticulously mapped out the competitive terrain of the Hydrogen Fueling Station market, offering a clear picture of key market players, their market share, and potential collaborations. This section also provides insights into potential challenges companies might face in increasing competitiveness.

Technological Disruptions

This report covers insights into the role of technology in the transformation of the Hydrogen Fueling Station market. Covering the latest technological advancements this section attempts to guide business for Industry 4.0 transformations.

Global Market Outlook

This report offers a global and regional growth outlook for companies in the Hydrogen Fueling Station market. Key market players are- Air Liquide, Air Products and Chemicals, Inc., First Element Fuel Inc., Hydrogenics Corporation, ITM Power, Nel Hydrogen, Praxair, Proton Onsite, SunHydro, The Linde Group . This report aims to offer an understanding of the global market situation and identify key regions for growth in the future.

Strategic Recommendations

The Insight Partners presents actionable insights to empower businesses in making informed decisions based on industry evidence. These lucrative suggestions intend to offer our clients a competitive edge over their competitors.

Hydrogen Fueling Station Market Segmentation

Based on Product of Hydrogen Fueling Station Market Research report:

Retail vs. Non-Retail Stations

Mobile Hydrogen Stations

Based on End-Users of Hydrogen Fueling Station Market Research report:

Hydrogen Tube Trailers

Tanker Trucks

Pipeline Delivery

Railcars and Barges

Based on Regions:

North America (U.S., Canada, Mexico)

Europe (U.K., France, Germany, Spain, Italy, Central & Eastern Europe, CIS)

Asia Pacific (China, Japan, South Korea, ASEAN, India, Rest of Asia Pacific)

Latin America (Brazil, Rest of Latin America)

The Middle East and Africa (Turkey, GCC, Rest of the Middle East and Africa)

Rest of the World…

To Summarize the Key Highlights of this Report:

Market Estimates | Forecast Year

Market Dynamics – Drivers, Restraints, Opportunities, and Threats

Market Segmentation – Product Types, Application, and Regional Markets

Competitive Landscape – Top Market Participants and their Business Strategies.

[powermarket]

Cryogenic Equipment Market Is Booming Worldwide

The global cryogenic equipment market size stood at USD 17.24 billion in 2021. The market is estimated to rise from USD 18.06 billion in 2021 to USD 32.86 billion by 2028 at 8.9% CAGR during the forecast period. Fortune Business Insights™ has delved into these insights in its latest research report, titled, “Cryogenic equipment Market, 2021-2028.”

According to the analysis increasing investments in LNG power plants and rising focus on processing and manufacturing industries to foster market development. The rising demand for clean energy power is anticipated to boost the market in the near future. The transportation, storage, and regasification applications for generating clean energy hold substantial potential for the growth of the market.

List of Key Companies Profiled in the Market Report: 

Chart Industries, Inc. (U.S.)

Cryofab, Inc. (U.S.)

Linde (Germany)

Nikkisso Cryoquip (U.S.)

Nikkiso Co. Ltd (Japan)

SHI Cryogenics Group (Japan)

HEROSE GMBH (Germany)

Wessington Cryogenics (U.K.)

Cryo Pur (France)

INOXCVA (INOX India Pvt Ltd) (India)

Sulzer (Switzerland)

Schlumberger (U.S.)

Flowserve Corporation (U.S.)

Fives (France)

Phpk Technologies (U.S.)

Marshall Excelsior Company (U.S.)

ACME Cryogenics (U.S.)

RegO (U.S.)

Habonim Industrial Valves & Actuators LTD (U.S.)

Impact of COVID-19:

Restrictions on Manufacturing and Transport to Hinder Market Progress

This market is expected to be negatively affected during the COVID-19 pandemic because of the restrictions imposed on manufacturing and transport activities. The sudden spike in COVID-19 infections led to the adoption of stringent norms. This has led to the closure of industries and the lack of raw materials for cryogenic equipment production. However, the adoption of production machinery, advanced sanitization methods, reduced capacities, and half capacities have enabled manufacturers to recover their losses. This factor is expected to boost market growth during the pandemic.

Report Coverage:

The report has been prepared meticulously through quantitative and qualitative assessments to offer a comprehensive market view. Notably, many primary interviews have been conducted with major stakeholders and suppliers. Primary data has been collected through questionnaires, telephonic conversations and emails. Moreover, the report also includes secondary sources, such as government websites, SEC filings and press releases. The report also gives an in-depth view of market size, share, revenue, volume and delves into SWOT analysis.

Drivers and Restraints:

Rising Demand for Clean Energy Source to Bolster Market Expansion

The rising demand for regasification, storage, and transportation of clean energy is expected to boost cryogenic equipment’s demand. The rising demand for LNG fuels for automotive use is expected to increase the equipment’s sales. Further, significant investments in the petrochemical and chemical sectors are likely to boost market growth. Rising usage of refrigerators, pumps, vaporizers, valves, and oil tankers is likely to increase the demand for the equipment. The equipment increases the safety of the fuel and maintains safety.

The rising demand for fuel storage and the rising adoption of renewable energy resources is likely to increase the equipment’s adoption. Moreover, it is also used in the healthcare sector to store blood, package medicines, and purge equipment. These factors are likely to drive the cryogenic equipment market growth.

However, the fluctuating stainless steel prices and stringent green-house emission norms may hinder the market progress.

Competitive Landscape:

Major Players Set Up Facilities to Expand Market Reach Globally

Prominent companies operating in the company set up manufacturing facilities to expand their market reach worldwide. For example, Lide declared that it had set up a novel on-site manufacturing plant in Qinzhou, China, in July 2021. The company shall supply industrial gases and oxygen to Shanghai Huayi's new chemical complex by opening up the plant. The manufacturing plant comprises three air separation units designed to supply 5,000 tons of nitrogen and 7,500 tons per day of oxygen. This strategy may enable the company to expand its market reach. In addition, the adoption of research and development may enable companies to improve their product quality and boost their brand image.

Segmentation:

By product, the market is segmented into bayonet connection, actuator, vaporizer, pump, valve, tank, and others. As per cryogen, it is categorized into helium, hydrogen, liquefied natural gas (LNG), argon, oxygen, nitrogen, and others.

Based on end-user, it is classified into marine, chemical & petrochemical, power generation, metallurgy, oil & gas, and others.

Regionally, it is grouped into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.

[chemanalystdata]

Maleic Anhydride Market to 2032 | Regional Analysis and Forecast | ChemAnalyst

According to ChemAnalyst report, “Global Maleic Anhydride Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032”, The Maleic Anhydride market will likely experience a significant rise and reach approximately 3500 thousand tonnes in 2032, at an expected CAGR of 4.76% during the forecast period by 2032. The rising demand of Maleic Anhydride by Unsaturated Polyester Resin, 1,4-butandiol, Fumaric Acid, Lube Oil Additives, and Other end-use industries is expected to result in expansion of the Maleic Anhydride market in the forecast period.

The organic compound maleic anhydride has the chemical formula C2H2(CO)2O. This colourless-white compound is synthesized by conducting vapor-phase oxidation of n-butane along with vanadium-phosphorus oxide as a catalyst. Maleic anhydride is a popular choice of raw material for synthesizing resins and lubricative oils for industrial applications. It is one of the most extensively used chemical in applied chemistry.  Maleic Anhydride also finds application as a precursor or additive in lubricants and food additives. Maleic anhydride is used to produce various commodities such as epoxy hardening agents, paper sizing, copolymers, hair care products, pharmaceuticals, sugar substitutes, paints, coatings, insecticides, and detergents.

Read the full report here: https://www.chemanalyst.com/industry-report/maleic-anhydride-market-654

The Maleic Anhydride market globally is driven by its usage as a feedstock to produced industrially significant resins and polymers such as Unsaturated Polyester Resin. Unsaturated Polyester Resin Industry solely consumed approximately 50% of global Maleic Anhydride in 2021. Construction and transportation industries both use unsaturated polyester resin. Unsaturated polyester resins are mostly utilised for manufacturing cladding, tankers, pipelines, and bathroom accessories. This is likely to drive the global Maleic Anhydride market in the forecast period.

The global Maleic Anhydride market is segmented based on end-use, sales channel, and region. Based on demand, Asia Pacific dominates the global Maleic Anhydride market, making up approximately half of the global Maleic Anhydride market in 2021. The ongoing modernization, industrialization, and construction in response to the multiplying population are all expected to have an impact on the region's market. It is anticipated that Asia Pacific will continue to dominate the market in the forecast years as well. Moreover, a strong demand for Maleic Anhydride from emerging economies like China, India and Japan is likely to propel the market growth of Maleic Anhydride.

Based on end-uses, the Maleic Anhydride market is segregated into Unsaturated Polyester Resin, 1,4-butandiol, Fumaric Acid, Lube Oil Additives, and Others. Out of all these sectors, the Unsaturated Polyester Resin Industry is the biggest consumer. 1,4-butandiol and Lube Oil Additives are the other major consumers of Maleic Anhydride.

Request Sample Report: Maleic Anhydride Market

“Global Maleic Anhydride Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032”, the significant players employed in the Maleic Anhydride market are Qixiang tengda chemical, Huntsman Corporation, BASF, Taiyuan Qiaoyou Chemical Industrial, Shanxi Qiaoyou Chemical Co., Ltd, Sasol-Huntsman GmbH & Co., Lanxess, and Ningbo Jiangning Chemical Co. Ltd.

“The surging demand for Maleic Anhydride to produce industrially significant compounds and resins, primarily the Unsaturated Polyester Resin which is utilized by the construction and automobile industry is anticipated to drive the Global Maleic Anhydride market in the forecast period until 2032. Furthermore, its demand from the Lube Oil Additives is also expected to further contribute to the Global Maleic Anhydride market in the forecast period. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

About Us: 

ChemAnalyst is a subsidiary of Techsci Research, which was established in 2008, and has been providing exceptional management consulting to its clients across the globe for over a decade now. For the past four years, ChemAnalyst has been a prominent provider of Chemical commodity prices in more than 15 countries. We are a team of more than 100 Chemical Analysts who are committed to provide in-depth market insights and real-time price movement for 300+ chemical and petrochemical products. ChemAnalyst has reverberated as a preferred pricing supplier among Procurement managers and Strategy professionals worldwide. On our platform, we provide an algorithm-based subscription where users can track and compare years of historical data and prices based on grades and incoterms (CIF, CFR, FOB, & EX-Works) in just one go.

The ChemAnalyst team also assists clients with Market Analysis for over 1200 chemicals including assessing demand & supply gaps, locating verified suppliers, choosing whether to trade or manufacture, developing Procurement Strategies, monitoring imports and exports of Chemicals, and much more. The users will not only be able to analyze historical data for past years but will also get to inspect detailed forecasts for the upcoming years. With access to local field teams, the company provides high-quality, reliable market analysis data for more than 40 countries.

ChemAnalyst is your one-stop solution for all data-related needs. We at ChemAnalyst are dedicated to accommodate all of our world-class clients with their data and insights needs via our comprehensive online platform.

Contact Us:

ChemAnalyst

B-44 Sector-57 Noida,

National Capital Region

Tel: 0120-4523990

Mob: +91-8882805349

Email: sales@chemanalyst.com

Website: https://www.chemanalyst.com/

[sagarg889]

China Industrial Hoses Market: Key Players, Applications, Outlook, SWOT Analysis by 2031

The China Industrial hoses market is expected to rise by 5.7 percent year on year in 2021, defying early concerns about how the business would fare during a worldwide pandemic. The entire demand for industrial hoses in China is estimated to reach US$ 548 million metres by 2031.

According to Future Market Insights (FMI), the China industrial hoses market will be worth US$ 1.9 billion in 2031, growing at a CAGR of 7.3 percent. Ultra-high pressure industrial hoses are expected to increase at a CAGR of 7.5 percent over the assessment period.

Request a PDF Sample Copy of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-13777

Key Takeaways from Market Study

China has an estimated share of 9.1% of the global industrial hoses market and close 30% of regional market consumption owing to the country’s high manufacturing output.

Lubricant hoses to hold the lead with US$ 166.1 Million in 2021 owing to extensive use in automotive applications.

Plastic and polymer hoses account for over 33% of the value share in 2021, owing to cost and durability benefits.

Energy applications to account for US$ 148 Million in 2021, driven by investments in energy infrastructure upgrades.

Leading provinces in China are estimated to contribute over 40% of the overall market consumption at 1.1 X of the overall CAGR.

“Transportation of critical fluids under stringent pressure regulations and demand from construction, oil and gas, and cryogenics sectors are major factors driving the demand for industrial hoses in China through 2031,” says a Future Market Insights analyst.

Competitive Landscape

The market is highly fragmented, with key players accounting for slightly more than one-fifth of the market share. These players are likely to invest in developing new materials and expansion of their clientele in various industries to enhance their product portfolios.

Some of the key players in this industry are Parker Hannifin Corporation, Tiger Polymer Corporation, Continental AG, Eaton Corporation, Rehau Group AG, Balflex LLC, Trelleborg AB, Kuriyama Holdings Corporation, and Qingdao Everflex Rubber & Plastic Co., Ltd. amongst others.

For More Information on this Report @ https://www.futuremarketinsights.com/reports/china-industrial-hoses-market

Industrial Hoses Market by Category

By Material:

Plastics &  Polymers

Steel

Braiding Yarn

Composites

PTFE

PUR

PVC

Nylon

Silicone

Hybrid

By Product Type:

Tank Water Hoses

Gardening Hoses

Fuel Hoses

Diving Hoses

Brake Hoses

Bicycle Hydraulic Brake Hoses

Lubricant Hoses

Hydraulic Hoses

Mini Hydraulic Hoses

Pneumatic Hoses

Cryogenic Transfer Hoses

Gas Connection Hoses

By Pressure Intake:

Low Pressure

Medium Pressure

High Pressure

Ultra High Pressure

By Application:

Commercial Plumbing

Residential Plumbing

Gardening

Manufacturing

Cryogenics & Air Separation Plants

Energy

Marine Engines & Equipment

Diving Device

Vehicles

Heavy Duty Trucks

Water Tankers

Food & Beverages

Chemicals

Pharmaceuticals

Others

Off Road Construction & Earth Moving Equipment

Industrial Forklifts

Agricultural Vehicles

Mining Vehicles

Fuel Tankers

[researchvishal]

Ship Repair and Maintenance Services Market Growth, Future Prospects And Competitive Analysis To 2033

The ship repair and maintenance services market size is likely to strengthen its boundaries at a CAGR of 6.6% during the forecast period. The market is anticipated to cross a market share of US$ 50.3 billion by 2033 while it holds a revenue of US$ 26.5 billion in 2023.  

- The rising manufacturing industry along with industrialization has led to the higher consumption of logistic services such as ship-based logistics operations, gaining traction for the ship repair and maintenance services market.

- Rapid industrialization is followed by the convenient seaborne trade options that businesses choose over the costly airborne logistic operations, expanding the ship repair and maintenance services market size.

- Increase in industrial manufacturing goods and post-effects of globalization have played a major part in creating demand for ship repair and maintenance services. Furthermore, the reconditioning of these ships and their transformation have flourished the market growth.

- Government programs work for the enhancement of ship building and maintenance practices through tax cuts. Proliferating private investments are also likely to fuel the adoption of ship repair and maintenance services.

- Ship owners take ship repair as an essential part of operations as It ensures the ship health and cargo safety along with time and money saving in a long run. 

Key Points

The Asia Pacific region tops the tally when it comes to the consumption of ship repair and maintenance services, while China holds the biggest market share of US$ 9.1 Bn in 2023 and highest CAGR of 7.4 during the forecast period.

Followed by China, South Korea to cross a value of US$ of 4.2 Bn by 2033.

Being another significant market for ship repair and maintenance services, US thrives at a CAGR of 4.8% during the forecast period while expecting a value of US$ 1.6 Bn by 2033.

Oil and chemical tankers segment performs better than its counterparts in the vessel type category as it goes through the regressive routine and carries tons of oil through the longer commercial sea routes. It is expected to thrive at a CAGR of 6.4% during the forecast period.

The service and maintenance of hull is the ship’s watertight enclosure and it tops the service type category with a CAGR of 6.2% by 2033.

 Competitive Landscape

The competitors focus on the addition of newer maintenance equipment and technology. Furthermore, the vendors also work on the “One stop shop” model to provide each service type under one roof.

Global Key ship repair and maintenance companies are: Damen Shipyards Group, Sembcorp Industries Ltd, Cochin Shipyard Limited, China Shipbuilding Industry Corporation, Fincantieri S.p.A., Dae Sun Shipbuilding & Engineering Co. Ltd, Hyundai Mipo Dockyards Co. Ltd, Arab Ship building and Repair Yard Company, Keppel Corporation Limited, United Shipbuilding Corporation, Alexandria Shipyard, Dormac Ship repairs, Astican, and HOSEI CO. LTD

For instance:

Arab Shipbuilding and Repair Yard Company has revisited the business model and added ship recycling in its services. Other than this, the company provides ship repair & conversion, rig repair, and navel repair along with fabrication and engineering.

Dormac Ship repairs introduce its repair services like CNC machining, fabrication, cofferdam repairs, electrical circuit repairing etc.

Key Segments

By Vessel Type:

Oil and Chemical Tankers

Bulk Carriers

General Cargo

Container Ships

Gas Carriers

Offshore Vessels

Passenger Ships and Ferries

Mega Yachts and Other Vessels

For more information: https://www.futuremarketinsights.com/reports/ship-repair-and-maintenance-services-market

By Service Type:

General Services

Dockage

Hull Part

Engine Parts

Electric Works

Auxiliary Services

[businessindustry]

Ballast Water Treatment Systems Market Report, By Type, News 2024-2032 | Reports and Insights

The Reports and Insights, a leading market research company, has recently releases report titled “Ballast Water Treatment Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Ballast Water Treatment Systems Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Ballast Water Treatment Systems Market?

The ballast water treatment systems market size reached US$ 6.2 Billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 12.1 Billion by 2032, exhibiting a growth rate (CAGR) of 8.7% during 2024-2032.

What are Ballast Water Treatment Systems?

Ballast Water Treatment Systems are utilized on ships to manage ballast water, which is taken on board to stabilize the vessel's balance. This water frequently contains diverse organisms that can be detrimental to marine ecosystems if discharged in a different location. The systems are designed to eliminate or neutralize these organisms, including bacteria, viruses, and invasive species, before the water is discharged back into the sea. This process aids in preventing the spread of harmful species and diseases, thereby reducing environmental and economic risks.

Request for a sample copy with detail analysis: https://www.reportsandinsights.com/sample-request/1728

What are the growth prospects and trends in the Ballast Water Treatment Systems industry?

The ballast water treatment systems market growth is driven by various factors. The market for ballast water treatment systems is growing significantly, primarily due to strict regulations aimed at preventing the spread of invasive species through ballast water discharge. These systems are crucial for ensuring ships comply with international standards, leading to increased demand for ballast water treatment solutions. Market expansion is also driven by the rise in maritime trade activities and a heightened awareness of environmental conservation. Additionally, advancements in technology, such as the emergence of more efficient and cost-effective treatment systems, are further propelling market growth. Hence, all these factors contribute to ballast water treatment systems market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

By Type:

Chemical Treatment Systems

Physical Disinfection Systems

Mechanical Systems

By Technology:

Ultraviolet (UV) Treatment

Electro-Chlorination

Advanced Oxidation

Filtration

By Capacity:

Less than 1500 m3/h

1500 m3/h - 5000 m3/h

More than 5000 m3/h

By Vessel Type:

Container Ships

Bulk Carriers

Tankers

Ro-Ro Ships

Others

By Application:

Retrofit

New-build

By End-Use:

Shipping Companies

Offshore Rigs

Military Vessel

Segmentation By Region:

North America:

United States

Canada

Asia Pacific:

China

India

Japan

Australia & New Zealand

Association of Southeast Asian Nations (ASEAN)

Rest of Asia Pacific

Europe:

Germany

The U.K.

France

Spain

Italy

Russia

Poland

BENELUX (Belgium, the Netherlands, Luxembourg)

NORDIC (Norway, Sweden, Finland, Denmark)

Rest of Europe

Latin America:

Brazil

Mexico

Argentina

Rest of Latin America

The Middle East & Africa:

Saudi Arabia

United Arab Emirates

South Africa

Egypt

Israel

Rest of MEA (Middle East & Africa)

Who are the key players operating in the industry?

The report covers the major market players including:

Alfa Laval

Wärtsilä

Evoqua Water Technologies

BIO-UV Group

Trojan Marinex

Optimarin

Panasia

Hyde Marine

De Nora Water Technologies

Xylem Inc.

View Full Report: https://www.reportsandinsights.com/report/Ballast Water Treatment Systems-market

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

Reports and Insights consistently mееt international benchmarks in the market research industry and maintain a kееn focus on providing only the highest quality of reports and analysis outlooks across markets, industries, domains, sectors, and verticals. We have bееn catering to varying market nееds and do not compromise on quality and research efforts in our objective to deliver only the very best to our clients globally.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact Us:

Reports and Insights Business Research Pvt. Ltd. 1820 Avenue M, Brooklyn, NY, 11230, United States Contact No: +1-(347)-748-1518 Email: sales@reportsandinsights.com Website: https://www.reportsandinsights.com/ Follow us on LinkedIn: https://www.linkedin.com/company/report-and-insights/ Follow us on twitter: https://twitter.com/ReportsandInsi1

[skippyv20]

Geo-politics of Holiday Decor

Hi Skippy & Friends-Pilgrim here intrigued with a comment regarding fake holiday decor VS organic. It didn't take long to discover some illuminating stats regarding this artificial industry that comes with global costs and concerns. According to an article called, "The Hustle-The Economics of Christmas Trees" you just might be surprised which one is more environmentally kind. "Modern artificial trees got their start in the 1930s when the UK-based Addis Brush Co. — a maker of toilet scrubbing brushes — saw an opportunity to market convenience during a time when real trees were hard to get ahold of." This is where we are today.

1. 81% of the 96 million +/- Christmas trees Americans have each year are artificial. This market is estimated at $1.2 billion. 2. 98% of all real trees come from tree farms-not wild growth; 4 states-Oregon, North Carolina, Michigan and Pennsylvania grow the majority. The industry is a tough one and dwindling as preferences shift. Growing costs can't compete with artificial manufacturing. Do we want to support local growers or overseas suppliers? 3. 85% of fake trees are made in China-mostly in the city of Yiwu, where 600+ factories churn out the majority of the world's Christmas decorations. Employees work in 12-hour shifts!!! Earning $600.00 a month!!! The SRP is $107 per tree on average with wholesale as low as $15.00. 4. These decorations are made of polyvinyl chloride (nicknamed the poison plastic). Our modern world is consumed with this plastic. Those who make it say it is "inherently" safe, yet it is made of chemicals which can release pollutants into the air and water including dioxins. (Agent Orange is a dioxin.) Hmmmmm.... 5. A real tree takes an 8–10-year cycle to get to market and a fake tree is produced in minutes. Factories pump out 1.5K trees in a 2-day cycle, using tons of these chemical products to make them. One has to ask about the quality of life in that Chinese city.  Are they taking precautions and protecting their public? Hmmmmm... 6. The supply chain of fake trees is quite different from that of real. They have to be shipped on gigantic tanker ships crossing oceans; ironically due to Covid, ships are now stacked up off coastal ports waiting to be unloaded. Then the product containers are loaded onto thousands of long-haul trailer trucks, driven thousands of miles to gigantic warehouses that need fuel to light and heat for humans (soon to be robots) to handle order fulfillment with packing boxes to be shipped/driven to stores and finally assembled in the consumer's home.

Whew...is it worth it? The final insult as another anon pointed out, is the fake trees end up in massive dumps, leaching their chemical elements over centuries. The choice is yours but being an educated consumer is where real power rules.

Thank you so much for this great information....much appreciated....❤️❤️❤️❤️

[swarajya7793]

Significant Impact of COVID-19 on Liquid Natural Gas in the Chemical and Materials Industry | Data Bridge Market Research

COVID-19 Impact on Liquid Natural Gas in the Chemical and Materials Industry

The epidemic of COVID-19 has caused immense and unforeseen social and economic tension. Its consequences are serious and it is too early to assess results, although its duration is uncertain. The LNG business is influenced in a variety of areas, with some obstacles but still having some prospects. The LNG industry will theoretically recover from this crisis more healthily than at the beginning of this year.

The first issue that impacted LNG (liquefied natural gas) was the collapse in the prices of crude oil. Brent crude oil dropped by mid-March 2020 to USD 24.88 per bbl from USD 70 per bbl in January 2020. The inclination to USD 34 per bbl in March compared with USD 64 per bbl in January may contribute to a decline in the price of LNG contracts, but the time gap embedded for other contracts which imply that the factors do not operate before mid-year. The average is around USD 64 per bbl.

Most of the customers gained lower spot rates last year because the majority of LNG was supplied under term contracts. In December 2019, the average LNG prices were USD 9.24 per MBtu imported into Japan. The real landed price could be half of that by mid-2020. Subsequent Asian markets are emerging from the current coronavirus or COVID-19. Crisis, low prices of the LNG are likely to boost the demand in the desired market.

Experts can see iron ore alternatives in Japan and Korea for gas / LNG, but demand in South Asia could be higher. Across Europe, a constructive reaction to demand is not expected to occur. For some time now prices were low as LNG traded is linked to gas hub prices instead of oil. Shortening has contributed to the lower gas usage and this is anticipated to decline in the second quarter as Europe ends the heating season. In March, LNG imports to Italy would possibly sum to only about one-third of last year's supply level in March.

IMPACT OF COVID-19 ON LNG

Gas industries are now experiencing fresh threats as a consequence of two events: the COVID 19 pandemics and global oil demand fluctuations as a result in the shortage of liquefied natural gas (LNG). Along with this, the existing imbalance between supply and demand in LNG markets will intensify and lengthen, contributing to a lower price setting. It could threaten, in the short term, up to 8% of global demand for LNG (over 25 million tonnes, or MTPA), whereas another one or two years could continue in the low price setting.

Current industry developments will jeopardize potential ventures and bring some firms under tremendous financial pressure including offshore gas discovery and development businesses, LNG suppliers and project developers. Meanwhile, purchasers of LNG will leverage on low rates to improve the contractual terms and facilitate the change from coal to natural gas. All companies are now checking their competitiveness and strengthening their business place in this modern world whether they maximize the gains of surplus or mitigate their disadvantages. The LNG industry controlled the effects of excess production until the COVID-19 pandemic. After 2015, global liquefaction production development peaked over 30 MTPA annually and the availability of LNG grew by about 10% each year. Markets could absorb this extra supply by a sluggish Chinese gas market growth in the early quarter of 2019 and by northeastern Asian demand contraction, pushing spot prices from 7 to 11 dollars per million British thermal units (mmbtu) in Europe and Asia to less than USD 5 per mmbtu.

The condition is predicted to escalate significantly with COVID-19. Through reducing economic growth, the pandemic has reduced the demand for natural gas in China, the second largest importer of LNG before now and the most steadily increasing LNG industry. While economic performance in China indicates a turnaround, Chinese natural gas demand growth would slip by half from previous estimates, at the annualized pace of inflation.

IMPACT ON DIFFERENT LNG

TRANSPORTATION LNG

The lock-ins was at sights as a consequence of rising prices for shipping to global markets and fast breakeven shale economies in the Covid-19. Companies in the value chain will react quickly, evaluate their position in light of the current business climate and take advantage of the short and long-term opportunity to gain value.

For instance,

In March, the Platts Gulf Coast Marker, which reflects the economies of American exports of LNG, was down below the Henry Hub. The U.S. LNG also seems vulnerable in a crisis- Asian consumers will just incur the toll payment for the cancelation of the U.S. LNG freight, whereas the cancelation of Australian or Qatar LNG freight requires the whole shipment to be billed or charged.

INDUSTRIAL AND POWER LNG

Major market players, similar to other LNG import companies, look unstable, this is most likely due to the contraction in business growth will lead to short-term impacts in energy production and the manufacturing companies. Early indicators in Italy have shown that after social distancing initiatives have been introduced, demand in certain sectors could have decreased in impacted regions by over 10 percent. While low LNG prices will allow some opportunities to switch to fuel in the short run, the structural and temporary existence of demand for natural gas is likely to restrict any potential upside on many markets, in conjunction with a rapidly falling overall energy demand.

COMPANIES STRATEGIC INITIATIVES DURING COVID-19

·         Wärtsilä launched the compact reliq reliquary machine in July 2020, which is designed to reliquify boil-off gas (BOG) on-board gas carriers and LNG bunker vessels and to maintain the cargo cold in all working conditions. The lightweight architecture enables it to be mounted on established vessels without significant maintenance research

·         In April 2020, Arctic LNG 1, a wholly-owned subsidiary of NOVATEK received approval for geological surveys, discovery and development in Gydan Peninsula with SLH 16637 NR in the Bukharinskiy sub-subsolar ship field. The concession area is partly situated in the offshore waters of a Bays of Ob and Taz in the independent state of Yamal-Nenets (YNAO) and will be granted for duration of up to 2050. The conditions of authorization mandate that the LNG natural resource should be utilized in the YNAO and neighboring water areas for liquefied natural gas infrastructure

·         In June 2020, Wärtsilä’s emissions abatement technology received order to provide its volatile organic compounds (VOC) recovery system together with an LNG fuel gas supply system, for two new 124,000 DWT shuttle tankers. The ships have been ordered by Knutsen NYK Offshore Tankers (KNOT), a leading independent owner and operator of shuttle tankers, and will be built at the Daewoo Shipbuilding & Marine yard in Korea. The order with Wärtsilä was placed in April

·         In June 2020, Gazprom and RusKhimAlyans (project developer of the integrated gas processing and liquefaction complex; business was formed on a parity basis by Gazprom and RusGazDobycha) have concluded 20-year commercial contracts for the production of feed gas and selling of gas. The interconnected structure must also be supplied with raw resources in the long run

·         Gasum has launched new liquefied gas bunkering station in June 2020. The station is situated in the Port of Nynäshamn, Sweden, at the Ports of Stockholm. The new station had provided the innovative bunkering technologies that allow the ships to bunker environmentally sustainable fuel quicker than ever before. By implementing various strategies such as growing production capacity, new product releases, product availability, the manufacturers aim to achieve optimum market growth. The growth of LNG in application such as, transportation, industrial and power, and others is anticipated to offer favorable opportunities for the key players operating in the market. Factors such as the places for distribution and sales are expected to help improve the company's overall role. Small domestic players and emerging players in developing countries in particular are likely to gain opportunities to establish themselves on the market

CONCLUSION

In conclusion, the effect of Covid-19 on the availability of LNG would continue much longer than the effects on global demand for LNG. The U.S. has been the new epicenter for the epidemic of COVID after the move from China to Europe, as the third most populated nation in the world and the biggest natural gas user, the implementation of restrictions to reduce the spread of COVID is expected to have a significant impact. Effects on the world demand for electricity due to freezing weather from mid-March until the end of April, the rise in usage was led by an improvement in increasing the gasoline prices in the residential and business market. Whereas throughout the industrial sector gas use has been very stable and over the span has risen marginally. The energy sector seems most affected by COVID, but despite a downward trend in electricity demand, has increased gas and renewable energy production, especially coal, is offsetting energy generation from many other sources.

With the transition of Covid-19 from China to America, the USA has been the global epicenter for the COVID epidemic. The implementation of restrictions to limit the spread of COVID is expected to have a significant impact on the global gas market, is the third-largest country with the population and the largest consumer of gas. Since these restrictions in the US were enforced at the start of March, the consumption of petrol rose relative to 2019. The rise in usage is motivated by cooler weather, which raised the demand for gas in the residential and business sectors from mid-March to the end of April 2020.

[aipucompressor]

AIPU COMPRESSOR

Gas Compressor Manufacturer - Your professional supplier and reliable partner!

Bengbu Aipu Compressor Manufacturing Co., Ltd. is a professional manufacturer of gas compressors from China. Our main products include BOG compressors, LPG compressors, CNG compressors, and other gas compressors for CNG/LNG tank trucks, CNG filling station, LNG filling station, LNG gasification station, L-CNG filling station, LNG storage station, LNG peak regulation station, LNG receiving station, LPG filling station, chemical plant, oil and gas plant, etc. Each of Aipu piston reciprocating compressor is designed and manufactured professionally on the basis of the technical data and requirements from the end-users. We have different types of gas compressors such as industrial reciprocating compressor, natural gas booster compressor, reciprocating compressor, etc. We keep developing new technology and manufacturing processes to improve our different types of gas compressors and gas compression systems so that they could meet the market demand and the users' expectations.

 BOG Compressor

BOG Compressor

BOG compressors also called boil-off gas compressors, are widely used to recover natural gas and boil-off gas left after the unloading of LNG cryogenic tanks and CNG tankers. The boil-off gas recovery system would be recovered and pressurized to CNG refilling station or pipeline network to achieve the dual purpose of maximum economic efficiency and environmental protection.

 Z-type BOG Compressor

V-type BOG Recovery Compressor

 More details

LPG Compressor

LPG Compressor

LPG compressors, one type of gas compressors for sale, are widely applied in liquefied petroleum gas stations, LPG car filling stations and mixed gas stations, and they are also an ideal equipment for chemical plants to pressurize the gases and benefit themselves from it, and popular in the areas of loading and unloading of LPG tank truck and vessel and bottle filling and tank decanting of LPG and similar media.

 Z-type LPG Compressor

 More details

CNG Compressor

CNG compressor is often used for medium size CNG filling stations, especially for CNG standard and daughter stations. It is a reciprocating (piston) gas compressor, which uses reciprocating compressor oil to operate and is mainly composed of the main compression,anti-explosive electric motor, cooling unit, lubrication unit, internal connection pipeline, safety valve, and the blow-down valve, the PLC control cabinet, etc. Currently, we have many natural gas compressors with reasonable prices for sale and they are widely used in the domestic and overseas markets.

 D-type CNG Compressor

M-type CNG Compressor

 More details

 Other Compressors

There are different types of gas compressors, such as hydrogen gas compressor, ammonia gas compressor, electric gas compressor, gas booster compressor, etc. Generally, they pressurize the gas to some desired pressure to meet people's demands although the compressing mediums are different.

 V-type Hydrogen Gas Compressor

Z-type Ammonia Gas Compressor

 More details

 Compressor Solutions

Aipu, one of the oil and gas compressor manufacturers in oil and gas industry can be widely seen in the field of gas recovery and storage, oil and gas plants, liquefied petroleum gas (LPG) filling stations, CNG filling stations, chemical areas, etc., its professional design and manufacture of oil and gas compressors with great prices meet the national standards and industrial requirements as well as the needs of users.

 Compressor For LPG

Compressor For CNG

Recycle Compressor For BOG

https://www.aipucompressor.com/products/