Introduction
Petroleum dyes are materials that are used to add color to petroleum products, lubricating oils, and gasoline. These dyes are complex and unsaturated aromatic compounds that possess characteristics such as solubility, and intense color Markers are colorless ingredients that are added to fuels which can be perceived by adding precise reagent to add color. Commonly used petroleum dyes are azo dyes and alkyl dyes. Petroleum dyes are used to prevent fuel adulteration and theft. They also add esthetic appeal to fuels.
Global Petroleum Dyes Market: Trends & Developments
Owing to upsurge in per capita consumption of petroleum dyes in emerging economies and exapnd in demand from end-user industries has propel the growth of global petroleum dyes market. Implementation of governmental laws concerning fuel taxes is boosting the global petroleum dyes market. High prices of raw materials of petroleum dyes is restraining the market. Advancement in manufacturing process of petroleum dyes is expected to provide opportunities to the market. Growth in global marine transportation is projected to propel the petroleum dyes market during the forecast period. Rise in sale of vehicles is expected to drive the petroleum dyes market. These dyes are primarily consumed in gasoline and diesel for coloring purposes. Challenges in petroleum dyes market include contraction in the oil & gas investment industry. The aviation industry has been expanding due to the economic recovery. This has boosted fuel consumption. In turn, this is anticipated to propel the consumption of petroleum dyes in the next few years.
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Global Petroleum Dyes Market: Segmentation
Based on product, the global petroleum dyes market can be segmented into fluorescent dyes, ethyl dyes, azo dyes, and others. Azo dyes, also termed as red dyes, are primarily used petroleum dyes. Red dyes is known for more efficient and traceable quality of dyeing. Fluorescent dyes are commonly used in surgical oncology. Fluorescence imaging technique helps in removing cancerous cells during surgery. In terms of foam, the global petroleum dyes market can be classified into liquid, powder, and solvent blend. Based on application, the global petroleum dyes market can be divided into gasoline, diesel, jet fuel, fuel oil, and others. Petroleum dyes are widely used in oil, wax coloration, fuel grease, and lubricants.
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Global Petroleum Dyes Market: Regional Outlook
Based on region, the global petroleum dyes market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is the major region of the global petroleum dyes market, owing to the varying tax structure for different oils in the region. North America and Asia Pacific are prominent regions of the market. Rising cases of fuel adulteration in South East Asia countries and Mexico, thus Latin America and Middle East & Africa is expected to expand with a significant CAGR over the forecast period.
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Global Petroleum Dyes Market: Key Players
Key players operating in the global petroleum dyes market include Innospec, Improchem, Sunbelt Corporation, John Hogg Technical Solutions, The Dow Chemical Company, United Color Manufacturing, Inc., and Authentix, Inc.