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Decant Oil Market – Growth, Statistics, By Application, Production, Revenue & Forecast To 2026 – Lake Shore Gazette

Decant Oil Market – Growth, Statistics, By Application, Production, Revenue & Forecast To 2026

Decant Oil Market: Overview

decant oil or slurry oil is a high-boiling cracked aromatic process oil. This oil appears as a thick oily liquid that is soluble in diethyl ether, partially soluble in acetone, and insoluble in water. Decant oil possess a petroleum asphalt odor. It is commonly referred as clarified oil, catalytic cracked clarified oil, carbon black feedstock, cat slurry oil, or residual fuel oil. Decant oil is composed of  catalytic cracked clarified oils (petroleum), hydrodesulfurized catalytic cracked clarified oils, distillates (petroleum), fuel oil No. 6, residues (petroleum), polycyclic aromatic hydrocarbons, asphaltenes (petroleum), naphthalene, hydrogen sulfide, and sulfur. This oil is primarily used in carbon black feedstock and needle coke in chemical industries and deployed as a heavy fuel oil in the petroleum industry.

Decant Oil Market: Key Segments

In terms of type, the global decant oil market can be bifurcated into FCC-based (fuel catalytic cracking) and RCC-based (residue catalytic cracking). The FCC-based segment holds a major share of the decant oil market. The FCC decant oil forms needle-like crystalline carbon structures during the coking process and hence, it is widely used to produce needle coke. This needle coke is further utilized for the manufacturing electrodes. Increase in utilization of these electrodes in the steel manufacturing industry is anticipated to boost the demand for FCC-based decant oil. FCC decant oil is also used as a feedstock to generate carbon black or carbon fiber owing to its high aromatic content.

Based on application, the decant oil market can be segregated into carbon black feedstock, needle coke, heavy fuel oil, and others. The needle coke segment is estimated to account for major share of the global decant oil market in the next few future. A pure decant oil is utilized in a delayed coker under appropriate operating conditions, to produce a special grade of coke which is known as needle coke. Needle coke commands a premium price over the other grades of coke due to its superior characteristics. Increase in demand for needle coke among electrode manufacturers is projected to drive the decant oil market. Decant oil has a similar boiling range to heavy fuel oils, hence decant oil is blended into heavy fuel oil and used in marine engines and coal power plants.

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Decant Oil Market: Regional Outlook

In terms of region, the global decant oil market can be divided into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific accounted for a major share of the global decant oil market in 2017 due to the presence of a large number of electrode manufacturers in this region. The decant oil market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period owing to the rise in industrialization in countries such as China, Japan, and Taiwan. Rise in demand for steel and growth in production of electrodes are expected to boost the production of needle coke in Asia Pacific during the forecast period. This is anticipated to boost the utilization of decant oil. This, in turn, is anticipated to drive the decant oil market in Asia Pacific during the forecast period. North America and Europe held lager share of the global market in 2017 owing to the increase in demand for decant oil in petroleum and chemical industries in these regions.

Decant Oil Market: Key Players

Key players operating in the global decant oil market include BP Marine Americas Inc, Countrymark Cooperative Holding Corp., HollyFrontier Corporation, Husky Lima Refinery, Marathon Petroleum Corporation, Ponderosa Petroleum, Qatar Petroleum, Seadrift Coke, LP, Sinclair Oil Corporation, Suncor Energy Inc., and Valero Marketing and Supply Company. These players focus on strengthening their product portfolio through strategic mergers and acquisitions.

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