Refining companies are using heat-integrated crude oil distillation systems with latest optimization approach to minimize operating costs and maximize product yields. These systems use artificial neural networks from rigorous process simulation in the distillation process. i-Heat™ is the latest software tool from Process Integration Limited which is used for performance analysis and identifies where energy and capacity improvements can be made.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL KEROSENE MARKET AT $150 BILLION IN 2017
Asia Pacific was the largest geographic region in the kerosene market, accounting for more than one-third of the market. The USA was the largest country accounting for nearly one-fifth of the global kerosene market.
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The chart below shows the year-on-year growth of the global kerosene industry market during 2017 – 2021: –
According to The Business Research Company’s Consultant, Nitin Gianchandani, with increasing investments in digital technologies, oil refineries are adopting big data analytics technologies to improve performance and reduce costs. Big data is high-volume, high-velocity and high-variety information asset used for enhanced insight and decision making. For instance, a large refinery can have 100,000 distinct measurements and thus an enormous amount of data can be gathered and transformed into business knowledge to optimize production and maximize commercial potential.
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Royal Dutch Shell was the biggest player in the kerosene market, with revenues exceeding $203.6 billion in 2016. Royal Dutch Shell’s prime strategy is to overcome the losses occurred due to oil and gas market crash. Shell is also looking into alternative green energy technologies by acquiring companies such as Saft, and acquired stakes in Auto Grid, and SunPower.
The kerosene refining market engages in the extraction of kerosene products from crude petroleum products. Kerosene is derived from petroleum and is used to fuel rocket engines, lighting fuel, and in industries such as chemicals and agriculture. It is also widely used as jet fuel to power aircrafts.
Kerosene Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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