Slurry Oil Market Projected To Reach USD 5.23 Billion By 2032 | Increasing Demand For Residual Fuel In Marine And Industrial Applications Driving Market Growth

(MENAFN- GlobeNewsWire - Nasdaq) The slurry oil market is witnessing significant expansion, driven by the rising demand for residual fuel oil in marine, industrial, and power generation sectors.

Austin, March 20, 2025 (GLOBE NEWSWIRE) -- The slurry oil market is projected to reach a valuation of USD 5.23 billion by 2032, expanding at a compound annual growth rate 4.53% from 2024 to 2032. With its high carbon content and energy value, slurry oil, a heavy liquid byproduct of fluid catalytic cracking (FCC units are frequently used as feedstock in carbon black production, bunker fuel blending, and as an industrial fuel in refineries. Growing industrialization and rising uptake of residual fuel oil in several heavy industries are propelling the market's growth. Demand is also driven by the growth of the shipping industry and the increasing demand for low-cost alternatives to more expensive true fuels. Continued improvements in processing and new hydroprocessing technologies are also improving slurry oil quality and user characteristics. In addition, strict environmental regulations compel refiners to employ advanced processing methods to desulfurize slurry oil so that it can be utilized in emission control areas.

The driving force for the growth of the slurry oil market is an increasing demand for carbon black since slurry oil is an important feedstock in carbon black production. The usage of carbon black includes rubber industry applications, predominately for its enhancement of expression-based properties in manufacturing tires, such as durability, strength, and wear resistance. The expansion of the global automotive industry coupled with rising vehicle production is creating demand for high-performance tires, which in turn drives the demand for carbon black. It is also used in coatings, plastics, and printing inks, leading to increasing carbon black demand. In a climate where industries are in search of cheap and effective raw materials, slurry oil is an ongoing top-choice feedstock owing to its aromatic nature, which is a popular choice for carbon black manufacturers, for sure.

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Key Players:

• Metso (Slurry Pumps, Process Valves)
• Weir Group (Centrifugal Slurry Pumps, Knife Gate Valves)
• ITT Goulds Pumps (Model 5500 Severe Duty Slurry Pumps, XHD Extra Heavy Duty Lined Slurry Pumps)
• Grundfos (Hydro MPC BoosterpaQ, SE/SL Wastewater Pumps)
• Flowserve (Warman Slurry Pumps, Durco Process Pumps)
• KSB (GIW Minerals LCC Heavy Slurry Pumps, MegaCPK Standardized Chemical Pumps)
• Tsurumi Pump (GPN Series Sand Pumps, KRS Series High-Head Dewatering Pumps)
• EBARA Pumps (Model DLFU Submersible Pumps, Model FSA End Suction Pumps)
• Excellence Pump Industry (EHM Series Slurry Pumps, EGM Series Gravel Pumps)
• Schurco Slurry (S Series Lined Slurry Pumps, Z Series Gravel Pumps)
• SNF Floerger (FLOPAM Flocculants, FLOQUAT Coagulants)
• Afton Chemical (HiTEC 11100 Viscosity Modifier, HiTEC 6460 Detergent)
• Lubrizol (LZ 9150A Viscosity Modifier, LZ 1110A Pour Point Depressant)
• Schaeffer Oil (Supreme 9000 Engine Oil, Moly EP Synthetic Plus Grease)
• Castrol India (CRB Turbomax Diesel Engine Oil, VECTON Long Drain Engine Oil)
• Vopak (Tank Storage Services, Chemical Logistics Solutions)
• Marine Biologics (SuperCrude Food Emulsifiers, Seaweed-Based Biomaterials)
• Adnoc (Murban Crude Oil, Polyolefins)
• Covestro (Makrolon Polycarbonate, Desmodur Polyurethane)
• Polartech (Metalworking Fluid Additives, Corrosion Inhibitors)

Slurry Oil Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 3.51 Billion
Market Size by 2032	USD 5.23 Billion
CAGR	CAGR of 4.53% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments	. By End Use (Air Purification, Automotive, Food & Beverage Processing, Pharmaceutical & Medical, Others)
Key Drivers	. Growing demand for marine fuel blending which drives market growth.

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Which Region Leads the Slurry Oil Market Growth?

Asia Pacific has approximately 48% of the market share in 2023. The reason is that some of the biggest oil refineries globally are based in places like China, taken care of by India, and also Southern Korea, and also, they create comparable high amounts of slurry oil. Similarly, the accelerating automotive industry in this region, especially China and India are driving the market value of carbon black due to its application in making tires, said the report. In addition, Asia Pacific is a rapidly growing area for the marine and shipping industry from top ports use of slurry oil for blending in marine fuel. The robust infrastructure development in the region also yields higher demand for slurry oil in asphalt production. Other than these, cheap labor and outsourcing-friendly government policy supporting industrial growth in the region increases the demand for slurry oil making Asia Pacific the largest consumer of the product. That will ensure the region remains one of the top slurry oil performers.

Market Segmentation

By End Use

In 2023, automotive segment accounted for the highest market share by nearly 42%. This is due to its application in the manufacture of carbon black, which in turn is used as a major component in tire production. The production of carbon black from slurry oil is a key functional component in automotive tires, enhancing life, strength, and abrasion resistance. Rising consumption of passenger and commercial vehicles worldwide, especially in emerging economies like China and India coupled with surging demand for carbon black and subsequently for slurry oil utilized in carbon black manufacturing has spurred market growth. Tires are a staple of all cars, so even the rising EV market sated demand. Further, this feedstock of slurry oil is also rather cheap for consumers in the automotive sector, and major tire manufacturers are in its favor. Urbanization, coupled with growing disposable incomes, is expected to maintain strong growth in vehicle production, subsequently driving the automotive sector and likely to support the stable growth of the slurry oil market.

The segment of fast food & Beverage is growing rapidly. In the food and beverage sector, carbon black is needed in food packaging materials. Widely used for food-grade plastic packing, containers, and films because it enhances durability high-temperature resistance, and thermal durability, carbon black is obtained from slurry oil. The demand for packaging solutions has spurred the growth of high-quality and long-lasting processed and packaged foods rationing and made more prominent the consumption of the flavor and aroma hexes of slurry oil. Various food safety acts have directly or indirectly driven growth in this business segment making food-grade or FDA-approved and food-contact-safe carbon black widely used thus propelling the market growth for this industry.

Recent Developments

• In 2023, ExxonMobil introduced an upgraded slurry oil refining process aimed at reducing sulfur content and improving fuel efficiency, catering to stricter environmental regulations.
• In 2023, Shell announced a strategic collaboration with major shipping companies to develop optimized slurry oil blends for marine fuels, ensuring compliance with International Maritime Organization (IMO) emission standards.

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. Slurry Oil Market Segmentation, By End Use

8. Regional Analysis

9. Company Profiles

10. Use Cases and Best Practice

11. Conclusion

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