The revenue of Specialty Fuel Additives Market crossed $6 billion in the year 2015 and is predicted to touch 10 billion-dollar mark till 2023, growing at 6.5% between the years 2016 and 2023; as per the research done by Global Market Insights, Inc. —
Growing high toxic emissions subject to increasing diesel and gasoline fueled vehicles will drive the specialty fuel additives market. Rising adoption of biofuel as an additive will boost the industry growth. Global annual consumption of ethanol as an additive to gasoline has increased from 21.8 billion gallons in 2012 to 25.6 billion gallons in 2015. Shift towards the adoption of cleaner fuel with low sulfur content requires specialty fuel additive that includes cold flow improvers. Protection of fuel distribution and storage systems will demand the adoption of corrosion inhibitors which is a type of additive.
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Emergence of standards for controlling emissions especially in countries like U.S., China, and EU, will propel specialty fuel additives trend which is projected to touch 2,482 kilo tons till 2023. Possibility of getting a good upsurge in this market is high as the world is looking for substitute of LPG and CNG and these additives can act as best replacements. Size of deposit control additives market is anticipated to touch 3,829 kilo tones till 2023 with a CAGR of 6.4%. These controllers are employed in various types of fuels and are used to restrict formation of deposit on injectors. Cetane improvers (CI) are mixed with fuels for improving their Cetane number, thereby accelerating performance. It is projected that the specialty fuel additives market of Cetane will cross 975 million till 2023.
Deposit control specialty fuel additives market is set to grow over 6% by 2023. Increasing vehicle manufacturing facilities will positively impact the business growth. Global motor vehicle production form 80 million units in 2011 to 90 million units in 2015. Cetane number is the most important component of a fuel. Improvers are added to diesel to reduce ignition delays in engine. Global cetane improvers market is set to exceed USD 970 million by 2023 subject to increased ultra-low sulfur diesel consumption.
Let’s take a look on some of the highlighting figures of fuel additives market. U.S. market is predominantly captured by gasoline and is anticipated to touch 2.5 billion till 2023. Europe specialty fuel additives market size was USD 1.58 billion in the year 2015 and is likely to rise with a CAGR of 5.9% in near future. Middle East market will go beyond 1.3 billion till 2023.
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Resource availability in China coupled with expansion of automotive sector will enhance the Asia Pacific specialty additive industry growth. Increasing commercial vehicles in developing countries will boost the demand for Diesel consumption. Diesel additives market will witness maximum regional growth at over 8% by 2023.
Notable industry participants in LNG bunkering industry are Infineum, New Market, BASF, Innospec, Angus, Afton, Albemarle, Baker Hughes, Chemtura, Evonik, Chevron Oronite, EURENCO, Clariant International and Lubrizol.
Glimpse of Table of Content (ToC)
Chapter 4 Specialty Fuel Additives Market by Product Insights
4.1 Specialty fuel additives market volume share by product, 2015 & 2023
4.2 Deposit control additives
4.2.1 Market estimates & forecast, 2012-2023
4.2.2 Market estimates & forecast by region, 2012-2023
4.3 Cetane improvers
4.3.1 Market estimates & forecast, 2012-2023
4.3.2 Market estimates & forecast by region, 2012-2023
4.4.1 Market estimates & forecast, 2012-2023
4.4.2 Market estimates & forecast by region, 2012-2023
4.5 Lubricity improvers
4.5.1 Market estimates & forecast, 2012-2023
4.5.2 Market estimates & forecast by region, 2012-2023
4.6 Cold flow improvers
4.6.1 Market estimates & forecast, 2012-2023
4.6.2 Market estimates & forecast by region, 2012-2023
4.7 Corrosion inhibitors
4.7.1 Market estimates & forecast, 2012-2023
4.7.2 Market estimates & forecast by region, 2012-2023
4.8.1 Market estimates & forecast, 2012-2023
4.8.2 Market estimates & forecast by region, 2012-2023
Chapter 5 Specialty Fuel Additives Application Insights
5.1 Specialty fuel additives market volume share by application, 2015 & 2023
5.2.1 Market estimates & forecast, 2012-2023
5.2.2 Market estimates & forecast, by region, 2012-2023
5.3.1 Market estimates & forecast, 2012-2023
5.3.2 Market estimates & forecast, by region, 2012-2023
5.4 Aviation turbine fuel (ATF)
5.4.1 Market estimates & forecast, 2012-2023
5.4.2 Market estimates & forecast, by region, 2012-2023
5.5.1 Market estimates & forecast, 2012-2023
5.5.2 Market estimates & forecast, by region, 2012-2023
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/specialty-fuel-additives-market-report
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