The South America bunker fuel market is expected to grow at a CAGR of more than 14% over the period of 2020-2025. The bunker fuel market in the region is mainly driven by the ever-rising marine transportation of essential commodities, implementation of the stricter environmental regulations driving the demand for cleaner bunker fuels, and the increase in the use of marine vessels for offshore oil and gas developments. However, the outbreak of COVID-19, leading to the global economic and maritime trade slowdown is likely to restrain the growth of the South America bunker fuel market in the coming years.
The South America bunker fuel market is moderately fragmented. Some of the key players in this market include Bunker Holding A/S, Monjasa Holding A/S, Vitol Holding BV, World Fuel Services Corp, and Peninsula Petroleum Ltd.
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