These fuel markings helping the government to raise the revenue, combat smuggling as well as to improve environment. The global fuel petroleum dyes and markers market share worth$1.1B in 2017 and is projected to witness a market growth at CAGR of 4.64% during the forecast period of 2018-2023. Among dyes the florescent dyes generated highest revenue with 465.1M and is estimated to continue the dominance in coming years. North-America hold the largest market share with 28% and generated the highest revenue.
What is Fuel/Petroleum Dyes and Markers Market?
Fuel/petroleum Dyes are colored materials that convey more or less permanent color to other materials such as petroleum product, lubricating oils and gasoline. Fuel and petroleum dyes can also be termed as complex and unsaturated aromatic compounds which have characteristics such as solubility, intense color and substansiveness. Furthermore, Markers are colorless substance added to fuels which can be detected by adding some reagent to formulate color by placing it in spectrophotometer for efficient result. Fuel and Petroleum Dyes market have been segmented into Liquid, powder and solvent dyes on the basis of form.
The market for Fuel and Petroleum Dyes have been further segment into fluorescent dye, alkyl dye, azo dyes and others. Azo dyes can also be termed as red dye is the most popular among other. Red dyes is known for its functionality like more efficient and traceable quality for dyeing. Fuel and petroleum industry analysis states azo dyes will earn massive profit during the forecast period. Solvent soluble dyes are the rapidly growing segment in the fuel and petroleum market primarily for its solubility in organic solvents as well as in hydrocarbons expected to increase growth by the end of 2023.
What are the major applications for fuel/petroleum dyes and markers?
Fuel dyes are most widely been used in oil, wax coloration, fuel grease, and lubricant and many other applications. They are heat stable highly concentrated colorants, which are available in powde, solvent and liquid form, and are soluble in lubricants, polar solvents, and hydrocarbon-based oil. Their high concentration allows the formulator to use minimal amounts of dye thereby causing no change to the product’s original physical characteristics. Moreover, their stability to high heat makes them a good match for lubricants, engine oil, automatic transmission fluid, and grease. Some lubricants are water-based and would require our water-soluble dyes or possibly pigments.
Petroleum dyes applications include heating oil, biodiesel, jet-fuel, fuel additives, gasoline, diesel, and kerosene. Wax applications include candles, shoe polish, coatings, lamp oils, and beeswax.