Industry Trend Analysis:
In 2014, the Global Specialty Fuel Additives Market was evaluated around USD 5.67 billion and is expected to reach approximately USD 9.95 billion by 2023 while registering itself at a compound annual growth rate (CAGR) of 6.44% over the forecast period. Rising demand for efficient and low emission energy resource from the automobiles, manufacturing, and aviation combined with the strict environmental policies are estimated the drive the growth of the global market. The rising toxic emissions levels as an outcome of fuel utilized in vehicles have contributed to the adverse effects on the environment. This has directed to an amplified utilization of specialty additives around the globe, which aids to control the emissions of harmful gas from the automobile.
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They assist in enhancing the efficiency of diesel, distillates, gasoline, and other fuels. It abbreviates burning and combustion rate in elevated temperatures as well as avoids terrible pollutants emissions. The increasing trend of supplements in biodiesel mixture in the European and North American regions to gain proficient cold flow performance is anticipated to fuel the demand for the product. The constant rise in price owing to rising pressure on staples is likely to impact the market growth unfavorably over the approaching years.
The advent of new engine technology, as well as demand for superior efficiency, is directing to the product growth. The United States, India, and China are anticipated to rule the global specialty fuel additives market.
Competitive Outlook and Trend Analysis:
A few of the key companies are BASF SE, NewMarket, Infineum, Innospec, Special Fuels, Dorf Ketal, Clariant, and Eurenco among others.
Deposit control additives
Cold flow improvers
Aviation turbine fuel
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Table of Contents:
4.Specialty Fuel Additives Market, By Product
4.2.Global Specialty Fuel Additives Sales, Revenue and Market Share by Product (2014-2017)
4.3.Specialty Fuel Additives Market Assessment and Forecast, By Product, 2014-2023
4.4.Deposit control additives
4.7.Cold flow improvers
To be Continued…
Application Outlook and Trend Analysis:
Key applications of these additives are aviation fuels, gasoline, and diesel. The diesel section is expected to report for the leading share of 46%, concerning volume, over 2024, emerging at the highest compound annual growth rate during the forecast years. Though, owing to increasing diesel popularity, the gasoline demand has become inactive in other regions of the globe. Aviation turbine section is expected to grow at a compound annual growth rate of 5.4% over the forecast period. Modification in trend for electric vehicles in developing as well as developed countries will most likely pose a hazard to the available IC engine vehicles and hence the fuel supplements.
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Regional Outlook and Trend Analysis:
Asia-Pacific region is expected to rule the global specialty fuel additives market. Asia-Pacific is anticipated to grow at the top compound annual growth rate owing to the demand for increasing efficiency, rapid industrialization, and enforcement of strict emission control guideline in India, Japan, and China. Speedily developing automotive industry across the Asia Pacific region will positively impact the demand for fuel supplements over the projected period.
Asia Pacific regional automotive sales have experienced a growth of around 7% over the forecast period, with South East Asian economies possessing the majority of the growth potential. North American region is anticipated to seize the subsequent highest share complied by the Middle East and Europe.
Key Growing Factors:
An extensive research study on the Market, and its entire ecosystem, describes the market trends, drivers, restraints and opportunities of the Specialty Fuel Additives Market.
We provide you the longest possible market segmentation based on type of products, procedures and geography and describe the market share region wise.
The Specialty Fuel Additives Market Report gives a bird eyes view on the competitive landscape which includes mergers and acquisitions, collaborations, market strategies, and new product launches.
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