Sulfur, carbon, hydrogen, and certain impurities including metals, ash, and trace amounts of water are the main components of heavy fuel oil market. A low-grade fuel called heavy fuel oil is created by distilling lighter petroleum products like kerosene and gasoline.
Refineries’ by-products include heavy fuel oil. It is a fuel with a lot of carbon. It contributes to the emission of greenhouse gases by releasing numerous gases into the atmosphere after it has burned completely, including sulphur dioxide and other pollutants.
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Heavy fuel oil is significantly used to deliver power for impact heaters and fire boilers in different end use enterprises. Likewise, weighty fuel oil is additionally used to give heat, generally in private, business and institutional structures.
Heavy fuel oil is a significant fuel hotspot for an assortment of end use ventures and hence, the weighty fuel market is good to go to observe significant development before very long. This second rate weighty fuel oil is a sulfur and carbon escalated item and utilized in enormous amounts for electric power age. It is additionally utilized in various marine vessels.
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The heavy fuel oil market is expected to create substantial opportunities in the market in the coming future. There are several factors responsible for the growth of the heavy fuel oil market, such as reduced emission, safety concerns related to the environment and demand for reduced transportation cost.
The key driver for the Heavy Fuel Oil Market which is the addition of new and innovative products which are energy efficient, of high quality and provide flexible solutions with advanced technologies.
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Some of the key players operating in the heavy fuel oil market are:
- Exxon Mobil
- NESTE
- Shell Global
- Emo
- Hiap Huat Holdings Berhad
- SA Oil
- Chevron phillips
- Tauber Oil
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