Delayed Coker Unit Process Technology Market to Reach US$ 360 Mn Amid Rising Capacity Addition in Refineries

NEW YORK, Feb. 28, 2022 /PRNewswire/ -- The global delayed coker unit (DCU) process technology market reached a valuation of US$ 295 Mn in 2022, exhibiting growth at a CAGR of 1.3% during the forecast period (2022-2035).

Over the past few years, demand for DCU process technology in Middle East & Africa (MEA) has been on the rise due to refining capacity additions. As per Fact.MR, MEA accounted for over 90% capacity addition over the decade and the trend is likely to continue over the coming years. This is estimated to spur the sales of DCU process technology.

Backed by these, the delayed coker unit process technology market is anticipated to surpass US$ 360 Mn by the end of 2035.

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Further, increasing demand for energy coupled with a decrease in refining profitability is projected to drive the growth in the delayed coker unit process technology market. In addition to this, the simplicity of technology for offering high value in low investments is creating conducive environment for the market.

Moreover, stringent government regulations regarding carbon emission and advancement in the bottom-to-barrel operations by the refineries will drive the sales of DCU process technology.

Subsequently, the demand for the irreplaceable technology to convert heavy crude into lighter hydrocarbons to underpin the depleting crude oil reservoirs will continue propelling the growth.

Key Takeaways:

• Middle East and Africa (MEA) delayed coker unit process technology market exhibited a valuation of US$ 90 Mn in 2020.
• China DCU process technology market is anticipated to grow at a faster rate on the back of increasing demand for energy.
• Based on product type, the dual-fired segment is projected to hold maximum share of 77% by 2035.
• In terms of end-use, the fuel segment is projected to dominate the market for delayed coker unit process technology.
• Asia Pacific DCU technology market is expected to register a market valuation of US$ 75 Mn by 2035.

Growth Drivers:

• Growing number of refineries undergoing renovations and capacity additions is projected to create favorable opportunities for the delayed coker unit process technology market.
• Rising demand for delayed coker unit process technology to cater to the energy needs of the developing regions is expected to propel the growth in the market.

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Competitive Landscape:

Companies operating in the delayed coker unit process technology market are adopting various strategies including acquisitions, joint ventures, and collaborations to expand their business. Some of the key players are advancing their manufacturing activities to update their product lines and to strengthen their global footprint.

For instance,

• February 2021: Bechtel collaborated with Suez Oil Processing Company (SOPC) to supply coker furnace equipment to the latter company. In addition to this, the Bechtel partnered with Petrojet, leading EPC contractor, to subcontract the assembly of coker furnaces. This collaboration will help the company establish partnerships with local EPC contractors.
• In 2020, Assiut National Oil Processing Company signed an agreement with Technip FMC for the production, procurement, and assembly of a hydrocracking complex. The agreement focuses on the delayed coker unit, diesel hydrocracking unit, and vacuum distillation unit.
• In 2019, Chennai Petroleum Corporation Limited (CPCL) signed a contract with Chevron Lummus Global regarding the manufacturing of 2,500 KT delayed coker unit process technology for the Cauvery basin refinery. The company seemed to have gained presence in the Indian petrochemical industry through this second delayed coker unit (DCU) unit.

Key Companies Profiled by Fact.MR

• Bechtel Corporation
• Lummus Technology
• Wood PLC
• Honeywell UOP
• Worley Parsons Limited (Jacobs)

More valuable Insights on Delayed Coker Unit Process Technology Market

Fact.MR, in its report, offers a market analysis on the global flat glass market providing unbiased analysis for the forecast period of 2022 to 2035. This survey also reveals the growth of technology in the flat glass market with detailed segmentation as follows:

By Product Type:

• Single-fired Delayed Coker Units
• Dual-fired Delayed Coker Units

By End Use:

• Fuel
• Steel & Cast Iron
• Electrodes
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

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Key Questions Covered in the Delayed Coker Unit Process Technology Market Report

• Which are key factors fueling demand in the global delayed coker unit process technology market?
• What was market value of the global delayed coker unit process technology market in 2020?
• What is the expected market revenue of the delayed coker unit process technology market during 2022-2035?
• What was growth rate of the global delayed coker unit process technology market during 2020-2021?
• Who are the dominant players operating in the global delayed coker unit process technology Market?
• Which region is projected to lead the global delayed coker unit process technology market during the forecast period?

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SOURCE Fact.MR