Global Distillates Market to Reach $200.5 Million by 2030
The global market for Distillates estimated at US$96.6 Million in the year 2023, is expected to reach US$200.5 Million by 2030, growing at a CAGR of 11% over the analysis period 2023-2030. Commercial Shipping End-Use, one of the segments analyzed in the report, is expected to record a 12.1% CAGR and reach US$99 Million by the end of the analysis period. Growth in the Military Shipping End-Use segment is estimated at 10.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $25.1 Million, While China is Forecast to Grow at 14.5% CAGR
The Distillates market in the U.S. is estimated at US$25.1 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$47 Million by the year 2030 trailing a CAGR of 14.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.4% and 9.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 8.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$30.8 Million by the year 2030.
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