Growing demand for fuel efficiency continues to remain a key reason contributing towards growth of the global specialty fuel additives market positively. However, imposition of government regulations is predicted to inhibit demand for the specialty fuel additives significantly. A recently compiled report by Fact.MR reveals that the
global market of specialty fuel additives is predicted to register a CAGR of 4.9% throughout 2022.
Factors Fuelling Growth of the Global Market
Growth of the global specialty fuel additive market is expected to be bound by several macro and micro economic factors. Surge in demand for fuel efficiency is projected to influence growth of the global specialty fuel additive market positively. Demand for the specialty fuel additives is projected to remain concentrated in the automotive and aviation industry. Specialty fuel additive such as catene improvers continue to witness steady demand attributed to increasing rust and gum formation in the automotive industry.
Over time, engine in the automotive products accumulate deposits in the intake ports and valves. Increasing accumulation of harmful deposits continue to hinder the operating efficiency of the automotive products. Accumulated deposits could restrict the airflow in the exhaust system, and the combustion chamber. Specialty fuel additives is likely to witness considerable demand for removing and cleaning of the harmful deposits accumulated in the engine of the automotive products. Further, demand for the specialty fuel additives such as catene improvers continues to be concentrated in the automotive and aviation industry in order to protect the equipment from rust and gum formations. Catene improvers, corrosion inhibitors and oxidation inhibitors witness moderate demand in the aviation and automotive industry to ensure protection from gum and rust formations.
Market Taxonomy
| Region |
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
|
| Additives Type |
- Deposit Control Additives
- Cetane Improvers
- Antioxidants
- Lubricity Improvers
- Cold Flow Improvers
- Petroleum Dyes & Markers
- Corrosion Inhibitors
- Metal Deactivators
- Octane Enhancers
- Others
|
| Application |
- Gasoline
- Diesel
- Aviation Turbine Fuel
- Others
|
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Following Questions Answers Covered in the Report are:
- How will the global Specialty Fuel Additives Market perform during the forecast period? What will be the market size in terms of value and volume?
- Which segment will drive the global Specialty Fuel Additives Market? Which regional market will show extensive growth in the future? What are the reasons?
- How will the market dynamics change because of the impact of future market opportunities, restraints, and drivers?
- What are the key strategies adopted by players to sustain themselves in the global Specialty Fuel Additives Market?
- How will these strategies influence the market growth and competition?
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
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Catene Improvers to Represent a Leading Segment
Cetane improvers are likely to sell more than the deposit control additives globally. However, demand for antioxidants is likely to grow at a relatively high pace in the global market. Currently, the cetane improvers segment is projected to represent more than US$ 600 Mn by 2022-end.
By application, the diesel specialty segment is projected to represent more than US$ 500 Mn in the global market of fuel additives by 2022-end. Sales of specialty fuel additives is likely to remain high in the diesel specialty products is projected to remain high as compared to gasoline products during the forecast period. Further, the diesel specialty application type segment is projected to register a relatively high CAGR in the global specialty fuel additive market through 2022.
Market Players
Major players in the global market of specialty fuel additive are Chevron Corp., BASF SE, Ashland Inc., Berkshire Hathaway, Inc., Evonik Industries AG, ExxonMobil Corporation, E. I. du Pont de Nemours and Co, The Dow Chemical Company, Baker Hughes, a GE Co., and Afton Chemical Limited.
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