H1 2023: The Jet Kerosene market in the United States exhibited a bearish trend in the first quarter of 2023, characterized by low demand and ample supply, leading to a decline in prices. The decrease in trading activity resulted from abundant supply and weaker offers for non-premium spot cargoes. Suppliers, faced a decline in spot trading, were compelled to make only necessary purchases. With weak market fundamentals, there were no firm bids or offers during this period. The demand for Jet Kerosene in the downstream commercial aviation industry declined due to sluggish market offtakes and limited trade activity. The US market experienced an atmosphere of uncertainty, adversely affecting the trading environment. Jet Kerosene prices in the US were stabilizing during April. Throughout May, demand surged, primarily due to the escalating demand for oil. Additionally, a more pronounced-than-expected decline in US gasoline inventories impacted the supply chain of Jet Kerosene, leading to a surge in prices. On the other hand, In the first three months of 2023, Jet Kerosene prices in Europe remained hazy. The market exhibited low demand and inadequate supply, resulting in a downward price trend during the first quarter of 2023. Despite recent price reductions, demand for the product from downstream industries remained gloomy, attributed to the economic slowdown. During the second quarter of 2023, Europe's overall Jet Kerosene market significantly dropped compared with the first quarter of 2023.
The global Jet Kerosene market stood at approximately 325 million tonnes in 2022 and is anticipated to grow at a CAGR of 3.30% during the forecast period until 2032.
Jet Kerosene is a highly refined light petroleum compound, characterized by a flash point exceeding 38 degrees and a freezing point near 47 degrees. Classified as aviation fuel, it is primarily utilized for aircraft propulsion. The intricate process of producing Jet Kerosene from crude oil focuses on the boiling points of hydrocarbons. In the initial phase, crude oil undergoes distillation in a column, heated to approximately 800 degrees Celsius. The temperature gradually decreases towards the column's top. This process separates materials, particularly middle distillates like petroleum and kerosene, based on a boiling point range of 250 to 360 degrees Celsius. Jet kerosene, also known as aviation turbine fuel (ATF), is a specialized form of kerosene tailored to meet the precise requirements of aviation engines. Its primary and most significant use is as a fuel for various aircraft, encompassing commercial airliners, military jets, and private planes. In the realm of commercial aviation, it stands out as the predominant fuel, propelling large passenger and cargo aircraft on a global scale. Similarly, in military aviation, jet kerosene is extensively utilized to power fighter jets and transport planes. Beyond aviation, jet kerosene finds application in rocket propellants, contributing to certain propulsion systems. Additionally, its versatility is evident in emergency scenarios, where it serves as a fuel for power generation in remote locations or critical situations.
The multifaceted uses of jet kerosene underscore its crucial role in the aviation industry, providing a high-energy-density and stable fuel that meets the demanding requirements of diverse aircraft engines. The demand for jet kerosene is intricately linked to several key drivers shaping its market dynamics. First and foremost is the global demand for air travel, encompassing both commercial and military aviation, with rising air traffic necessitating a proportional increase in jet kerosene. The growth of the commercial aviation sector, fuelled by an expanding network of passengers and routes, significantly contributes to the overall demand for jet kerosene. Economic development and increasing disposable incomes often align with heightened air travel demand, boosting the overall need for jet kerosene. Advances in aviation technology, particularly the development of more fuel-efficient aircraft engines, have the potential to impact demand. Global tourism trends, political stability, and open airspace policies play pivotal roles in enhancing the growth potential of the aviation industry, thereby influencing jet kerosene demand. Additionally, stringent environmental regulations and a focus on sustainable aviation fuels may drive innovation in the sector, influencing market dynamics. The global Jet Kerosene market is anticipated to reach nearly 450 million tonnes by the year 2032.
Geographically, Europe and North America are the largest consumer of Jet Kerosene. However, The Asia Pacific region is poised to lead, with countries like China and India boasting sizable populations engaged in both domestic and international air travel, resulting in heightened demand for jet kerosene fuel. North America and Europe may similarly experience strong growth, propelled by ongoing economic advancements.
Based on the end-user industry, the global Jet Kerosene market is segmented into Commercial Aviation, and Others (private jet, Military Aircrafts). Among these, Commercial Aviation industry is the largest segment and held a market share of roughly 67% in 2022.
Major players in the Global Jet Kerosene market are Shell PLC, Exxon Mobil Corp, Total Energies SE, Oil Corporation Ltd, Chevron Corporation, Allied Aviation Services Inc., Qatar Jet Fuel, Trans Oil, Air BP, and Bharat Petroleum.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Jet Kerosene which covers production, demand and supply of Jet Kerosene market in the globe.
• To analyse and forecast the market size of Jet Kerosene
• To classify and forecast Global Jet Kerosene market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Jet Kerosene market in the globe.
To extract data for Global Jet Kerosene market, primary research surveys were conducted with Jet Kerosene manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Jet Kerosene market over the coming years.
ChemAnalyst calculated Jet Kerosene demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Jet Kerosene. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Jet Kerosene manufacturers and other stakeholders
• Organizations, forums and alliances related to Jet Kerosene distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Jet Kerosene manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Jet Kerosene market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
325 million tonnes
Market size Volume in 2032
450 million tonnes
Growth Rate
CAGR of 3.30% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Commercial Aviation, and Others (private jet, Military Aircrafts))
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Jet Kerosene in terms of volume in 2022?
Ans:
The global market size of Jet Kerosene has reached approximately 325 million tonnes in 2022.
Q2.
Which industry is the major consumer of Jet Kerosene?
Ans:
Commercial Aviation Industry is the leading consumer of Jet Kerosene globally.
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