LONDON--(BUSINESS WIRE)--The global emulsified fuel market is expected to grow at a CAGR of close to 135% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global emulsified fuel market by application that includes marine and industrial. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: regulations for emissions from marine vessels
The shipping industry must conform with the new sulfur limits in sulfur ECAs from January 1, 2015. This means the ships that are trading in the ECAs must use marine fuel with a sulfur content of up to 0.10%. These new regulations certify the safety of ships, crew, and the marine environment. These norms pose a challenge for ship owners to change to less sulfur-emitting fuels or must completely shift to LNG as it has zero-sulfur emissions.
According to a senior analyst at Technavio for oil and gas research, “At present, the engines used in ships can use such fuels by making just a few operational equipment adjustments. There are also no fixed rules for the enforcement of these norms, and there are no sanctions and penalties defined for operators or vessel owners who do not comply with these norms.”
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Market trend: development of chemical-free emulsified fuel
A major player has developed an emulsified fuel that does not require the addition of chemicals. The company uses activated water to produce the emulsified fuel. This technique has allowed the company to blend water with heavy oil without using surfactants. The fuel can produce higher calorific value than other heavy fuel oil when only heavy oil is burned. The main characteristic of this fuel is that when it is burned, the calorific value does not decrease because of the presence of water. Comparatively, the fuel delivers higher calorific value. This leads to substantial savings on fuel cost without compromising on the amount of heat provided by the emulsified fuel.
Market challenge: technological challenges of water in diesel fuel
Water is present in diesel either as an emulsion where water is dispersed uniformly in diesel or as free water. Diesel fuel is hygroscopic. It attracts and holds water. Fuel additives in emulsion keep the water dispersed in diesel fuel in the form of very minute particles, which it passes through the fuel delivery system and into the diesel engine combustion chambers and is vaporized to steam. But, the water/diesel emulsion can reduce the lubricity of the fuel because water has a much low lubricity than diesel fuel.
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