Delayed Coker Unit Process Technology Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Delayed Coker Unit Process Technology Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Delayed Coker Unit Process Technology Market

The delayed coker unit process technology market size was valued at USD 424.3 million in 2021, and the market is now projected to grow from USD 438.9 million in 2022 to USD 591.8 million by 2029, exhibiting a CAGR of 4.3% during the forecast period of 2022-2029.

During the COVID-19 pandemic, dropping oil prices due to overflow and demand contraction have undesirably affected the refining materials. The instant effects were a drop in rates for petroleum-based products. Delayed coker unit process technology has been extensively implemented in numerous refineries plants. It heats the residual oil feed to its current cracking temperature in a multi-parallel pass furnace to produce dissimilar recyclable products.

Heavy oil remains are formed during the processing plant production of automotive fuel. As progressively heavyweight crudes are handled, straight-run VR volumes are projected to upsurge. Therefore, plants must rely on hydrocracking and carbon refusal technologies to develop lighter hydrocarbon distillations, with the related costs.

The rising trend of treating heavy raw materials in delayed coker to acquire extreme yield of liquid products has managed to the making of coke with fuel grade that contains huge quantities of sulfur and metals.

As a vital mature treating technology of residue and other inferior heavy oil, the delayed coking technology has the benefits of robust adaptability to raw materials, low investment, and handling cost, augmented making of superior diesel fraction, and better-quality diesel/gasoline ratio. Over time, the procedure has become the ideal technology for refineries, specifically in handling economy heavy oil with high metal and carbon remains content. Tight refining ability and fuel demand are substantial causes for rising refining capacity. Growing refining capacity will probable to motivate the delayed coker unit process technology market growth.

Comprehensive Analysis of Delayed Coker Unit Process Technology Market

The market can be segmented in various ways, depending on the focus of analysis such as by type, by application. Based on type, the market is primarily split into single-fired delayed coker unit and dual-fired delayed coker unit. Based on application, the market is segmented into steel & cast iron, petroleum, and others.

Asia Pacific region is dominating the delayed coker unit process technology market share due to due to numerous factors such as promptly growing energy demand, the occurrence of refining plants, and upsurge in refining capacity, among other factors.

The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Bechtel Corporation (U.S.), Lummus Technology (U.S.), Wood Plc (U.K.), CNPC (China), Sulzer (Switzerland), Honeywell UOP (U.S.), SUPCON (China), Worley Parsons Limited (Australia), MOGAS Industries (U.S.) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In September 2022, Lummus Technology declared substantial improvement to its External Air Preheater (LEAP) technology. The newest technological improvement benefits expressively to decrease the CO2 emissions from cracking heaters at ethylene plants and other fired heaters.

Segmentation Table

ATTRIBUTE

DETAILS

Study Period

2018-2029

Base Year

2021

Estimated Year

2022

Forecast Period

2022-2029

Historical Period

2017-2019

Unit

Value (USD Million)

Segmentation

By Type, Application, and Region

Segmentation

By Type

Single-fired Delayed Coker Unit

Dual-fired Delayed Coker Unit

By Application

Steel & Cast Iron

Petroleum

Others

By Region

North America (By Type, By Application, and By Country)

• U.S.
• Canada

Europe (By Type, By Application, and By Country)

• Germany
• France
• U.K.
• Italy
• Russia
• Nordic Countries
• Rest of Europe

Asia Pacific (By Type, By Application, and By Country)

• China
• Japan
• South Korea
• Southeast Asia
• India
• Australia
• Rest of Asia Pacific

Latin America (By Type, By Application, and By Country)

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa (By Type, By Application, and By Country)

• Turkey
• Saudi Arabia
• UAE
• Rest of Middle East & Africa

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