Bunker Fuel Market Set for Rapid Growth and Trend, by 2025

1. Bunker Fuel Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2027 ©2019 Transparency Market Research, All Rights Reserved

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3. Environmental Concerns Lead to Development of Efficient Low-sulfur Bunker Fuels For several decades, the shipping industry was under significant pressure to curb harmful emissions and use marine or bunker fuels with low sulfur content. Recent developments in the bunker fuel market suggest that achieving greener marine ecosystem will be a reality soon. The pressure on the marine industry is largely driven by the growing need to curb air pollution and significant rise in the number of childhood asthma cases worldwide. Cargo, container, and tanker fleet play a major role in adding to the air pollution across the world. These major sources of air pollution, which run on bunker fuels laden with sulfur have also caused significant damage to communities that live close to shipping channels. View Report Download Brochure ©2019 Transparency Market Research, All Rights Reserved

4. International Marine Organization Regulations to Impact Growth of Bunker Fuel Market • With mounting pressure to clean their act, the marine industry is set to witness a major overhaul in the forthcoming years. • Efforts to curb sulfur-emission have gained significant traction in the bunker fuel market in the past three to four years. Drastic changes in sulfur-emission policies are expected to influence the growth of the market for bunker fuels in the coming decade. • In 2016, when the International Marine Organization agreed to restrict the sulfur content in bunker fuels to around 0.5% by 2020, the stage was set for a paradigm shift in the bunker fuel market toward the use of low-sulfur bunker fuels. • While the demand for high sulfur fuel oils will witness a gradual decline, it will provide a boost to the demand for low-sulfur fuel oils and liquefied natural gas (LNG). • The fluctuating prices of liquefied natural gas or alternative bunker fuels could pose a major hurdle for stakeholders involved in the bunker fuel market value chain.

5. Demand for Marine Diesel Oil Likely to Rise Barriers put forward by liquefied natural gas and environmental concerns over the deployment of high sulfur fuel oils have opened up the floodgates for marine diesel oil to penetrate the bunker fuel market. The new regulations laid down by the International Marine Organization offers significant promise for stakeholders eyeing investment opportunities and potential applications of marine diesel oils. The shift in the tide toward marine diesel oil is likely to result in higher crude runs. ©2019 Transparency Market Research, All Rights Reserved

6. Key players operating in the global bunker fuel market include Total Neste Marathon Petroleum Corporation Brightoil Petroleum (Holdings) Limited BP Saudi Arabian Oil Co. Gazprom ©2019 Transparency Market Research, All Rights Reserved

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