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Market Research Report

Global Petrochemical Heaters Market -2019-2026

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Global Petrochemical Heaters Market -2019-2026
Published: August 1, 2019 Content info: 130-180 Pages
Description

Global Petrochemical Heaters Market Overview

Petrochemical heaters procedure is an integral part and plays a vital role in petrochemical operations. Petrochemical heaters are utilized in the refinery and petrochemical industry to heat hydrocarbon for fractionation, thermal cracking, and high-temperature processing.

Polyethylene, butane, urea, propylene, aromatics, smelling salts, pentane, and ethylene requires thermal processing in the petrochemical industry which is accomplished by the utilization of different petrochemical heaters. Heat transfer procedures are a crucial factor of any oil refining, petrochemical & chemical industry and they are utilized for different purposes. These are structured and produced with innovative metallurgy and they require high working temperatures.

The global Petrochemical Heaters market size was worth USD XX million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.

Global Petrochemical Heaters Market Dynamics

Petrochemicals are rapidly becoming the largest driver of global oil consumption. They are set to account for more than a third of the growth in oil demand to 2030, and nearly half to 2050. The combination of a growing global economy and technological development will translate into increasing demand for petrochemical products which ultimately develops the growth of the Petrochemical heaters market.

Rising growth of oil & gas and petrochemical industries are the crucial factors for the growth of Petrochemical heaters market worldwide. Furthermore, the growing population and increasing energy demand are the key driving factors impacting the market. Increasing energy demand worldwide is the primary reason for the growth of the market. For instance, Global energy demand rose by 2.3% in 2018, and it is the fastest pace in the last decade. The world's three largest energy-intensive countries, China, the United States, and India, together accounted for nearly 70% of the rise in global energy demand. The United States experienced the largest increase in oil and gas demand worldwide in 2018.

Hugh capital investment is the major restraint hampering the growth of the market. For setting up a petrochemical complex a high investment is required. Due to the long-time taking process for the completion of construction, many new petrochemical complexes are not set up every year worldwide.

Global Petrochemical Heaters Market Segment Analysis

Based on the application, the Petrochemical heaters market is divided into Petrochemical and chemicals. The global Petrochemical heaters market size by application type was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. Petrochemical is expected to hold a major market share in the estimated period. Petroleum is the basic raw material to produce olefins such as ethylene, propylene, and aromatics, including benzene, xylene, and toluene.

Petrochemical is chemical compounds derived from feed-stocks such as crude oil, natural gas, and gasoline. Major companies are focusing on the development of sustainable Petrochemical plants, which has led to shutting down of older, smaller, and less efficient plants. For instance, OMV, an oil and gas company headquartered in Vienna, has made the decision to invest USD 72 million in the construction of an ISO C4 plant at the Burghausen Refinery, with operations planned to start in September 2020.

By product type, the Petrochemical heaters market is segmented into hot oil heaters, cracking furnaces and steam super heaters. The global Petrochemical heaters market size by product type was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. Cracking furnaces are expected to grow with a high CAGR rate in the estimated period. Cracking furnaces heaters often referred to as fired heaters and direct-fired heaters. These are pieces of equipment often used in processing facilities to heat gases or liquids up to the desired temperature.

Cracking furnaces in the petrochemical and refining industry are critical pieces of equipment that can have a major impact on process unit safety, reliability, and economics. In cracking furnaces, raw materials are converted such as ethane, liquefied petroleum gas (LPG), naphtha, atmospheric gas oil (AGO) and hydrocracker residue into ethylene and valuable by-products.

On the basis of heaters type, the Petrochemical heaters market is classified into liquid vapor petrochemical heaters and liquid phase petrochemical heaters.

Based on the design, the Petrochemical heaters market is classified into box-type furnaces, vertical cylindrical heaters, and cabin cylindrical heaters.

Global Petrochemical Heaters Market Geographical Analysis

The North America Petrochemical heaters market size by product type was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. North America is dominating the global Petrochemical Heaters market in 2018 and estimated to hold the largest market size over the forecast period (2019-2026). Investments and as well as the capacity expansion of Petrochemical has been increased in North America. For instance, as per AMPF, Over USD 200 billion to be invested in U.S. Petrochemical industry by 2020. The U.S. is a major exporter of petrochemical products to regions, including Europe as well as countries, such as China and India.

Furthermore, Consumption of petrol in North America is rising from the past decade. For instance, as per U.S. energy information administration, Petroleum consumption in the United States increased to 20.5 million barrels per day (b/d), or 37 quadrillion Btu in 2018, up nearly 500,000 b/d from 2017 and the highest level since 2007. Growth was driven primarily by increased use in the industrial sector, which grew by about 200,000 b/d in 2018.

The Asia Pacific Petrochemical heaters market size by product type was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. Asia Pacific is expected to grow with a high CAGR rate in the estimated period. China, India, and Japan are expected to grab a major share in the Asia Pacific region for the Petrochemical heaters market.

Investments in the Asia Pacific is increasing for Petrochemical industry which is a favorable factor for the growth of Petrochemical heaters year on year. For instance, Aramco has planned investment in the USD 44-billion refinery and petrochemical project on India's west coast. The Japanese government is looking for reducing the refinery capacity in order to increase the sector's efficiency, which will have a direct impact on petrochemical heaters market. China is the largest consumer of petrochemical products due to the favorable export-oriented government policies. And having large production facilities.

Global Petrochemical Heaters Market Competitive Analysis:

The Petrochemical Heaters market is moderately competitive with new players entering the market. Some of the major players include Wattco, HarbisonWalker, Gaumer, Schniewindt, Fulton, Okazaki, Babcock Power, Jiangsu Yanxin, Exotherm Corporation, Chromalox, and Cetal.

The key players are adopting various key strategies such as product launches which are contributing to the growth of the Petrochemical Heaters Market. For instance, Wattco is presenting the various type of heaters for petrochemicals like electric heaters, immersion heaters, flange heaters in the market.

Companies are also engaged in capacity expansions to take advantage of future opportunities.

Major players are investing in setting up manufacturing units in developing economies of the Asia Pacific and Latin America. For instance, In July 2019, Aramco has announced that they are planning to invest with USD 44-billion in the refinery and petrochemical project on India's west coast.

Why Purchase the Report?

  • Visualize the composition of the petrochemical heaters in terms of various types of applications, product types, systems types and their design types highlighting the key commercial assets and players.
  • Identify commercial opportunities in petrochemical heaters market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of petrochemical heaters market-level 4/5 segmentation.
  • A PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

Target Audience

  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers
Table of Contents

Table of Contents

1. Global Petrochemical Heaters Market Methodology and Scope

  • 1.1. Research Methodology
  • 1.2. Research Objective and Scope of the Report

2. Global Petrochemical Heaters Market - Market Definition and Overview

3. Global Petrochemical Heaters Market - Executive Summary

  • 3.1. Market Snippet by Application
  • 3.2. Market Snippet by Heaters Type
  • 3.3. Market Snippet by Product Type
  • 3.4. Market Snippet by Design
  • 3.5. Market Snippet by Region

4. Global Petrochemical Heaters Market Dynamics

  • 4.1. Market Impacting Factors
    • 4.1.1. Drivers
      • 4.1.1.1. Increasing energy demand and growing population
      • 4.1.1.2. Rising growth of oil & gas and petrochemical industries
    • 4.1.2. Restraints
      • 4.1.2.1. Hugh capital investment required
    • 4.1.3. Opportunity
    • 4.1.4. Impact Analysis

5. Global Petrochemical Heaters Market - Industry Analysis

  • 5.1. Porter's Five Forces Analysis
  • 5.2. Regulatory Analysis
  • 5.3. Supply Chain Analysis
  • 5.4. Pricing Analysis

6. Global Petrochemical Heaters Market - By Application

  • 6.1. Introduction
    • 6.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 6.1.2. Market Attractiveness Index, By Application
  • 6.2. Petrochemical*
    • 6.2.1. Introduction
    • 6.2.2. Market Size Analysis, USD Million, 2016-2025 and Y-o-Y Growth Analysis (%), 2018-2026
  • 6.3. Chemical

7. Global Petrochemical Heaters Market - By Heaters Type

  • 7.1. Introduction
    • 7.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Heaters Type
    • 7.1.2. Market Attractiveness Index, By Heaters Type
  • 7.2. Vapor Phase Petrochemical Heaters*
    • 7.2.1. Introduction
    • 7.2.2. Market Size Analysis, USD Million, 2016-2025 and Y-o-Y Growth Analysis (%), 2018-2026
  • 7.3. Liquid Phase Petrochemical Heaters

8. Global Petrochemical Heaters Market - By Product Type

  • 8.1. Introduction
    • 8.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 8.1.2. Market Attractiveness Index, By Product Type
  • 8.2. Hot Oil Heaters*
    • 8.2.1. Introduction
    • 8.2.2. Market Size Analysis, USD Million, 2016-2025 and Y-o-Y Growth Analysis (%), 2018-2026
  • 8.3. Cracking Furnaces
  • 8.4. Steam Super Heaters

9. Global Petrochemical Heaters Market - By Design

  • 9.1. Introduction
    • 9.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Design
    • 9.1.2. Market Attractiveness Index, By Design
  • 9.2. Cabin type Heaters*
    • 9.2.1. Introduction
    • 9.2.2. Market Size Analysis, USD Million, 2016-2025 and Y-o-Y Growth Analysis (%), 2018-2026
  • 9.3. Vertical Cylindrical Heaters
  • 9.4. Box-type Furnaces

10. Global Petrochemical Heaters Market - By Region

  • 10.1. Introduction
    • 10.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Region
    • 10.1.2. Market Attractiveness Index, By Region
  • 10.2. North America
    • 10.2.1. Introduction
    • 10.2.2. Key Region-Specific Dynamics
    • 10.2.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 10.2.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Heaters Type
    • 10.2.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 10.2.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Design
    • 10.2.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 10.2.7.1. U.S.
      • 10.2.7.2. Canada
      • 10.2.7.3. Mexico
  • 10.3. Europe
    • 10.3.1. Introduction
    • 10.3.2. Key Region-Specific Dynamics
    • 10.3.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 10.3.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Heaters Type
    • 10.3.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 10.3.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Design
    • 10.3.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 10.3.7.1. Germany
      • 10.3.7.2. U.K.
      • 10.3.7.3. France
      • 10.3.7.4. Italy
      • 10.3.7.5. Spain
      • 10.3.7.6. Rest of Europe
  • 10.4. South America
    • 10.4.1. Introduction
    • 10.4.2. Key Region-Specific Dynamics
    • 10.4.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 10.4.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Heaters Type
    • 10.4.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 10.4.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Design
    • 10.4.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 10.4.7.1. Brazil
      • 10.4.7.2. Argentina
      • 10.4.7.3. Rest of South America
  • 10.5. Asia Pacific
    • 10.5.1. Introduction
    • 10.5.2. Key Region-Specific Dynamics
    • 10.5.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 10.5.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Heaters Type
    • 10.5.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 10.5.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Design
    • 10.5.7. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 10.5.7.1. China
      • 10.5.7.2. India
      • 10.5.7.3. Japan
      • 10.5.7.4. Australia
      • 10.5.7.5. Rest of Asia Pacific
  • 10.6. Middle East and Africa
    • 10.6.1. Introduction
    • 10.6.2. Key Region-Specific Dynamics
    • 10.6.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 10.6.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Heaters Type
    • 10.6.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 10.6.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Design

11. Global Petrochemical Heaters Market Competitive Landscape

  • 11.1. Competitive Scenario
  • 11.2. Market Positioning/Share Analysis
  • 11.3. Mergers and Acquisitions Analysis

12. Global Petrochemical Heaters Market Company Profiles

  • 12.1. Wattco*
    • 12.1.1. Company Overview
    • 12.1.2. Product Portfolio and Description
    • 12.1.3. Key Highlights
    • 12.1.4. Financial Overview
  • 12.2. HarbisonWalker
  • 12.3. Gaumer
  • 12.4. Schniewindt
  • 12.5. Fulton
  • 12.6. Okazaki
  • 12.7. Babcock Power
  • 12.8. Jiangsu Yanxin
  • 12.9. Exotherm Corporation
  • 12.10. Chromalox
  • 12.11. Cetal

13. Global Petrochemical Heaters Market - DataM

  • 13.1. Appendix
  • 13.2. About Us and Services
  • 13.3. Contact Us
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