28 November 2019
The Fuel Additives Market Report 2020-2030: Forecasts by Type (Deposit Control, Cetane Improvers, Lubricity Improvers, Cold Flow Improvers, Stability Improvers, Octane Improvers, Corrosion Inhibitors), By Application (Diesel, Gasoline, Aviation Fuel), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) and analysis of leading companies operating in this industry.
The scale of the global market for fuel additives will grow by USD 7 billion in 2020-2030. This report provides a type-based market analysis (deposit control additives, cetane improvers, antioxidants, cold stream improvers, lubricity improvers, corrosion inhibitors, and other types) and usage (diesel fuel additives, fuel additives for petrol, aviation fuel additives, and others). The market research study on fuel additives further offers in-depth perspectives into the market's growth prospects through APAC, Europe, MEA, North America, and South America.
Ultra-low-sulfur diesel (ULSD) lowers toxic diesel emissions and optimizes fuel consumption. It also lowers ozone component waste emissions and particulate matter to near-zero amounts. ULSD widely utilizes fuel additives such as corrosion inhibitors, octane improvers, cetane improvers, and antioxidants to boost vehicle performance, avoid undesirable engine wear, reduce oxidation, and increase lubricity. The strict fuel consumption laws and policies and the growing supply of diesel fuel in places including Canada, the United Kingdom, the United States, Germany, and France would continue to foster demand.
In addition, the increasing demand in petrol, diesel and other fuels for multifunctional additives will also boost the need for fuel additives during the forecast period. Multifunctional additives help fuel reach safety standards and work well by reducing the amount of additives needed. In turn, these additives mitigate carbon emissions, maximize biofuel performance, and also reduce costs. The growing interest in green and environmentally friendly goods from end-users and customers would result in increased demand for multifunctional additives.
The demand for fuel additives is highly limited. The fuel additives industry research study would help customers identify new growth opportunities and develop creative approaches to increase their market share by providing a comprehensive analysis of the competitive landscape of the sector and with data on the products offered by businesses.
During the forecast period, Asia Pacific would account for the largest market share for fuel additives. The growing use of gasoline and diesel fuel additives for various applications such as aviation is one of the main reasons for the high growth of this region's fuel additives industry.
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