Global specialty fuel additives market is predicted to register a CAGR of 4.9% throughout 2022. With the inflating prices of the fuel and gases, consumers continue to scramble with the ways to increase the fuel efficiency.
Over the time, harmful deposits can accumulate in the engine and hinder the efficiency significantly. Growing need for removing and cleaning the harmful deposits in the engines has significantly led to an upsurge in demand for specialty fuel additives globally.
Moreover, increasing use of specialty fuel additives enhances functioning of the fuel, and helps in protecting the fuel system. As use of the specialty fuel additives help in removing the harmful deposits in the engines, it also improves the functioning in terms of power of the engine and acceleration.
According to a recently published report, the global specialty fuel additives market is expected to represent a value of over US$ 6,000 Mn by the end of 2022.
Consumption in the Automotive Industry
With time and rough usage, the engines accumulate harmful deposits that could block the fuel injectors and disrupt the functioning of the engines. This could prevent the automotive to function smoothly and efficiently.
Moreover, increasing demand for additives that help in removing and cleaning the accumulated deposits is likely to impact growth of the global market positively. Increasing need for unclogging the blocked injectors has led to an upsurge in demand for specialty fuel additives.
Specialty fuel additives also help in burning the fuel in the cylinder after combustion, which helps in eliminating knocking. As specialty fuel additives resists knocking, the engine functions smoothly. Attributed to such factors, the manufacturers prefer using the specialty fuel additives that resist knocking in the engine, and enhances the functioning of the automotive.
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Steady Demand in Aviation Industry
Apart from the automotive industry, the specialty fuel additives witness significant demand in the aviation industry. Specialty fuel additives witness significant demand in the deposit control additives, and cleanliness additives to clean and remove the deposits from the engine. Moreover, surge in demand for correcting problems related to fuel efficiency and enhancing performance is expected to impact growth of the global market positively.
Moreover, growing need to prevent rust formation is expected to boost demand for corrosion inhibitors. Besides protection from rust formation, surge in need for preventing gum formation is expected to fuel demand for oxidation inhibitors. Attributed to metal deactivators, increasing use of specialty fuel additives is expected to inhibit gum formations.
Surge in demand for efficient fuel functioning, and protection from rust and gum formation in the automotive and aviation industry is expected to contribute towards growth of the global specialty fuel additives market.
On the other hand, several factors are expected to inhibit growth of the global market during the forecast period. As environment protection agency (EPA) does not approve of the specialty fuel additives as an environment-friendly products, manufacturers prefer opting for alternative products that do not harm the environment. Further, increasing availability of cheaper products approved by the EPA is expected to inhibit growth of the global market significantly.
Diesel Specialty to Represent a Leading Segment
With increasing need for reducing the ignition delays during combustion, demand for the cetane improvers is expected to rev up. The cetane improvers segment is expected to represent a value of over US$ 600 Mn by the end of 2022.
The deposit control additives segment is expected to represent the second highest revenue growth in the global market by the end of 2022. However, the anitoxidants segment is expected to register the highest CAGR in the global market through 2022.
The diesel specialty segment is expected to represent a value of over US$ 500 Mn in the global specialty fuel additives market by the end of 2022. The gasoline segment is expected to represent the second highest revenue growth in the global market by the end of 2022. Moreover, this segment is expected to register the highest CAGR in the global market through 2022.
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Leading market players in the global specialty fuel additives market include
- BASF SE
- Chevron Corp.
- Berkshire Hathaway Inc.
- Ashland Inc.
- ExxonMobil Corporation
- Evonik Industries AG
- The Dow Chemical Company
- E. I. du Pont de Nemours and Co
- Afton Chemical Limited.
- Baker Hughes
- a GE Co.
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
The global specialty fuel additives is expected to register a moderate growth attributed to considerable demand in the aviation and automotive industry. Growing need for efficient fuel performance and protection from rust and gum formation is expected to contribute towards growth of the global market positively. This Fact.MR report discusses key prospects for growth of global specialty fuel additive market during the forecast period, 2017-2022, offering pragmatic insights to lead market players towards devising & implementing informed strategies.
The scope of the report is to analyze the global specialty fuel additive market for the period 2017-2022 and give readers an accurate, unbiased analysis. Specialty fuel additive manufacturers, suppliers, and stakeholders in the overall automotive market can benefit from the insights offered in this report. The comprehensive analysis offered in the report can also be of interest to leading automotive journals and trade magazines.
The report begins with a concise summary of the global specialty fuel additive market. This executive summary sets the tone for the rest of the report, giving users the scope of the report. The executive summary includes important facts and statistics on the global specialty fuel additives market.
The next section is an overview of the global specialty fuel additive market. This includes the introduction to the market and a standard definition of the product – specialty fuel additive. In this section, year-over-year growth and market value is offered to readers. Year-over-year growth gives readers a broader picture on growth patterns during the forecast period.
The next section of the report offers a thorough description of the latest macroeconomic factors that have a bearing on the global specialty fuel additive market. Considering the interconnectedness of the specialty fuel additive market to global automotive market and, in general, the global economy, readers will get valuable insights on how international developments impact this market.
In a bid to keep readers up-to-date on the latest developments in the global specialty fuel additive market, the report offers readers a roundup of the latest trends impacting the market. As the automotive sector is ever-evolving, staying abreast with latest trends and developments is paramount to formulating key business strategies. Information on supply chain, cost structure, pricing analysis, raw material sourcing, and list of distributors are offered to readers in this section.
Considering the broad scope of global specialty fuel additive market, the report includes a segment-wise analysis and forecast. The global specialty fuel additive market is segmented into – additive type, application type, and region. Through this section, the report offers an in-depth country-wise forecast on every parameter associated with specialty fuel additive.
The concluding section of the report profiles companies operating in the global specialty fuel additive market. Companies of all sizes, including market leaders, established players, and market entrants are profiled in this section. The competitive intelligence offers information on company overview and other important parameters, such as product offerings and key financials.
Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research. We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
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