Biofuel Additives Market Targets to Reach $12,560 Million with a CAGR of 15.3% during 2016-2022

Biofuels are produced from the conventional feedstock or lignocellulose feedstock, which can be distinguished as first and second generation fuels.

Global Biofuel Additives Market is expected to garner $12,560 million by 2022, registering a CAGR of 15.3% during the forecast period 2016-2022.

The consumption of biofuels has increased across the globe owing to its eco-friendly nature. However, there are several problems associated with their use such as high fuel foaming, injector deposits & corrosions, and low oxidation stability. Biofuel additives are specialty chemicals that are added to decrease such problems. Therefore, the market for biofuel additives is directly aligned with the production of biofuels.

Download Sample of the Report @ https://www.alliedmarketresearch.com/request-sample/1428

However, food verses fuel debate and high investment on the biofuel additives production technology is likely to hamper the market growth.

In the year 2015, the detergents & dispersants segment occupied major share of the overall biofuel additives market and is expected to maintain its lead throughout the analysis period. This is because detergents & dispersants prevent the formation of vehicle deposits by casing the surface of the combustion chamber and the fuel supply system. Better combustion, increased drivability, decreased emission, and smoother fuel injection are several advantages presented by the addition of detergents & dispersants. Owing to which, governing bodies have mandated the addition of detergents & dispersants in biofuels.

Key Findings of Biofuel Additives Market

• The Asia-Pacific region is expected to surpass Europe, in terms of volume, by the end 2022.
• Germany occupied one-fourth of the total European biofuel additives market in 2015.
• Bioethanol application occupied more than half of the overall biofuel additives market and is expected to maintain its lead throughout the analysis period.
• North America and LAMEA collectively accounted for two-thirds of the total biofuel additives market in 2015, and are expected to maintain their lead position throughout the forecast period. This was due to higher production and consumption of biofuels in these region. However, Asia-Pacific is projected to be the fastest growing segment, after North America, during the forecast period.
• Corrosion inhibitor additives is the fastest growing segment during the analysis period.
• North America is expected to lead the market throughout 2022 and is projected to grow at a CAGR of 14.3%, in terms of volume, during 2016 and 2022.

The major companies profiled in the report include, The Lubrizol Corporation, Fuel Quality Services, Inc., Chemiphase Ltd., Clariant AG, Afton Chemical, E-ZOIL, Eastman Chemical Company, Evonik Industries AG, Chevron Oronite Company LLC, and Biofuel Systems Group Ltd.

Buy Now @ https://www.alliedmarketresearch.com/checkout/462915

About us

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.