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The bunker fuel market size is forecast to increase by USD 30.1 billion, at a CAGR of 4.18% between 2023 and 2028. The report includes historic market data from 2018 - 2022. The market is experiencing significant growth driven by various factors. One of the primary drivers is the expanding LNG market, which is witnessing increasing demand due to its cleaner-burning properties and the global push towards reducing carbon emissions. Additionally, the development of emulsified fuels is playing a crucial role in market growth. Emulsified fuels, which blend water with fuel oil to create a more efficient and environmentally friendly fuel, are becoming more popular as industries seek to lower their environmental impact and improve fuel efficiency. Furthermore, the need for new refineries to comply with new IMO regulations is another significant factor propelling market growth. The International Maritime Organization (IMO) has implemented stringent regulations to reduce sulfur emissions from ships, prompting the development of new refineries capable of producing low-sulfur fuel. This regulatory push is compelling the bunker fuel industry report to innovate and invest in modernizing infrastructure to meet these new standards.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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