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Biofuel Additives Market Booming in 2018 and Predicted to Achieve Double Digit CAGR by 2023

04-03-2019 05:28 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Biofuel Additives Market

Biofuel Additives Market

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. Increasing demand for clean & efficient fuel, diminishing quality of crude oil, high quality standards associated with biofuels, and growing automotive industry are the significant factors responsible for the growth of the biofuel additives market across the globe.

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Additives are added to address the problems encountered by biofuels that include corroded fuel systems, enhanced fuel foaming, and increased wax formation at lower temperature. They are added during different stages of the product's lifecycle, such as at refineries, during transit, at terminals, and at the end user stage. The biofuel additives market has grown tremendously in the recent past due to increase in acceptance and performance of first and second generation biofuels globally. Second generation fuels are at early commercial stage, with major existence in the U.S. and Europe.

The factors that drive the biofuel additives market are growing biofuel adoption due to decreasing dependency on the oil producing nations, availability of renewable feedstocks, and favorable government policies. Several other measures, in the form of vehicle emission directives, taken by the European policy makers in consultation with the car manufacturers and oil companies to enhance the air quality also drive the growth of this market. However, the expensive nature of biofuel additives may hamper the market growth during the analysis period.

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 the study

• 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 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.

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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.

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.

Table Of Content

Chapter: 1 INTRODUCTION

1.1 Report Description
1.2 Key Market Benefits:
1.3 Key Market Segments:
1.4 Research Methodology
1.4.1 Secondary Research
1.4.2 Primary Research
1.4.3 Analyst Tools and Models

Chapter: 2 EXECUTIVE SUMMARY
2.1 CXO Perspective
2.2 Market Beyond: What to Expect by 2027
2.2.1 Moderate Growth Scenario
2.2.2 Rapid Growth Scenario
2.2.3 Diminishing Growth Scenario

Chapter: 3 MARKET OVERVIEW
3.1 Market Definition and Scope
3.2 Key Findings
3.2.1 Top Investment Pockets
3.2.2 Top Winning Strategy
3.3 Porters Five Forces Analysis
3.3.1.1 Bargaining Power of The Supplier
3.3.1.2 Bargaining Power of The Buyer
3.3.1.3 Threat of Substitutes
3.3.1.4 Competitive Rivalry
3.3.1.5 Threat of New Entrant
3.4 Market dynamics
3.4.1 Drivers
3.4.1.1 Increasing Adoption of Biofuels Specifically In Automotive Industry
3.4.1.2 Increasing Demand sfor Clean And Efficient Fuel
3.4.2 Restraints
3.4.2.1 Food Vs Fuel Debate
3.4.2.2 High Priced Products
3.4.3 Opportunity
3.4.3.1 Emerging Economies
3.5 Top Player Positioning, 2018

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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.

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