NEW YORK, May 18, 2016 /PRNewswire/ --
Abundant crude oil reserves coupled with announcement of Euro-4 and Euro-5 standards to steer Iran oil refinery chemicals market by 2021
According to recently published TechSci Research report "Iran Oil Refinery Chemicals Market By Type, By Application, Competition Forecast and Opportunities, 2011 - 2021", the oil refinery chemicals market in Iran is projected to grow at a CAGR of 5% during the next five years. Growth in the market is anticipated on account of increasing oil and gas refining capacity in the country. Additionally, stringent government regulations for lowering the sulphur content of transportation fuels coupled with implementation of Euro-4 and Euro-5 standards in Iran is anticipated to positively influence the oil refinery chemicals market during 2016-2021.
Browse 18 market data Tables and 29 Figures spread through 107 Pages and an in-depth TOC on "Iran Oil Refinery Chemicals Market"
Merchant hydrogen accounted for the largest share in Iran oil refinery chemicals market in 2015. The segment is anticipated to maintain its dominance over the next five years as well. However, growth in demand for refining catalysts is expected to outpace merchant hydrogen owing to its high efficiency in accelerating the yield of gasoline. Refining catalysts, pH adjusters and corrosion inhibitors are the other major oil refinery chemicals consumed in Iran. During 2016-2021, Esfahan region is expected to dominate Iran oil refinery chemicals market due to the presence of multiple refineries in the region. In addition to domestic players, several global players such as Air Liquide, Air Products and Chemicals Inc., and Sud Chemie are also operating in Iran oil refinery chemicals market.
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"With about 10% of global oil reserves and 13% of Organization of the Petroleum Exporting Countries (OPEC) oil reserves, Iran accounts for the world's fourth-largest crude oil reserves, globally. In Iran, around 1,985 thousand barrels of refined petroleum products were produced per day in 2014. Moreover, export of petroleum products from Iran has increased from 441 thousand barrels per day in 2011 to 470 thousand barrels per day in 2014, and this trend is expected to continue, especially with the US and other major developed economies having lifted sanctions on Iran. Hence, oil refinery chemicals market in Iran is anticipated to register healthy growth over the next five years." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Iran Oil Refinery Chemicals Market By Type, By Application, Competition Forecast and Opportunities, 2011 - 2021" has analyzed the potential of oil refinery chemicals market in Iran provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by oil refinery chemicals market in Iran.
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