BTX and Hydrocarbon Separating Adsorbent Market Analysis and Forecast 2019-2025 | BIS Research
Rising demand for BTX and hydrocarbon separating adsorbents from oil and gas industries, along with the refineries and petrochemical industries, is expected to boost the market.
By: BIS Research
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A steep decline in the usage of solvent-based extraction technologies is expected in the next five years, due to the increasing competition and technological advancements in the oil and gas industry. Therefore, end-user industries are focusing on the adoption of highly efficient BTX and hydrocarbon separating adsorbents to increase their revenue and geographical presence to achieve a better position in the global market in the coming years.
Offline sales are most prominent sales mode ever since the market began to expand owing to bigger class of end-use customers of adsorbents, which are oil and gas industries, petrochemical industries, and refineries. Since this business requires customer loyalty and extensive aftersales services, offline marketing channels provide better chances of building better customer relationships.
However, offline sales mode is expected to grow at a significant rate in coming years in order to provide the customers the ease and the ability to compare multiple products simultaneously while letting the manufacturers acquire the shifting choices of the customers according to the type of industry.
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The global BTX and hydrocarbon separating adsorbent market caters to the demand for various industries such as upstream, midstream, and downstream industry (refining and petrochemical industry). The refining (liquid-gas separation) application in downstream industry is anticipated to dominate throughout the forecast period owing to rising demand for sustainable fuels.