Bunker Fuel Market Size & Share by Type | Industry Analysis 2023


The bunker fuel market is growing due to the growing demands of fuel for tanker vessels and container ships. Large bunkering ports around the globe are Port of Fujairah and Singapore, accounting for a considerable share in the global bunker fuel market. Asia-Pacific is leading the bunker fuel market due to fact that major commodity consumption centers of the world are in the region.
Adsorbents with larger surface area, high adsorption capacity and better service life are more in demand by industries as they prefer cost-effective and high performance adsorbents which maximizes profit margin. Collaboration between consumers and manufacturers of the adsorbents has been one of the major trends in the adsorbents market in recent years.  Adsorbents are being extensively used for treating wastewater and removing bulk metal impurities such as lead, copper, cadmium and chromium.
On the basis of seller of bunker fuels, the bunker fuel market can be categorized as leading independent distributors, major oil companies and small independent distributors. Some of the companies such as World Fuel Services Corporation and Chemoil Energy Limited operate in most of the major regions of the world. Lukoil-Bunker LLC and Gazpromneft Marine Bunker LLC are the companies which operate only in some restricted regions of the world.
Some of the factors driving the growth of the bunker fuel market are rapid increase in bunker requirements in crude oil and product tankers, and increasing hydrocarbon resource development activities in offshore areas. But, there are also some factors restraining the growth of the bunker fuel market such as fuel reduction initiatives by global shipping community.
Some of the competitors in the bunker fuel market are Gazpromneft Marine Bunker LLC, Aegean Marine Petroleum Network, Inc., Lukoil-Bunker LLC, Exxon Mobil Corporation, and Chemoil Energy Limited.

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