Fuel Antioxidant Additives Market Growth Is Attributed To The Increasing Demand For Aviation Fuel Additives

According to Precision Business Insights (PBI), the latest report, the fuel antioxidant additives market is expected to be worth USD billion in 2022, growing at significant CAGR from 2022 to 2028. The global fuel antioxidant additives market is segmented into the following types: By Product Type (Phenolic Antioxidant, Aminic Antioxidant, Phosphite Antioxidant, Thioester Antioxidant, and Others) By Application (Diesel Fuel Additives, Aviation Fuel Additives, Gasoline Fuel Additives, and Others), and Geography (North America, Europe, Asia Pacific, Latin America, and MEA) Forecast to 2028. Key players' profiles in the fuel antioxidant additives market report are DSM, BASF SE, Oxiris Chemicals S.A., Sumitomo Chemical Company, Chitec Technology Co., Ltd., Mayzo Inc., SI Group, Inc., Double Bond Chemical Ind. Co. Ltd., Kumho Petrochemical Co., Ltd., and Merald Performance Materials LLC. Since primary antioxidants work better than secondary antioxidants in oxidation management and additive treatment rates, lubricants increasingly use primary antioxidants such as aminic and phenolic antioxidants. Modern automobile lubricants need to perform better against oxidation due to stricter fuel efficiency laws and high standards, which has led to the use of primary antioxidants.

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Aviation Fuel Additives Segment to Dominate the Fuel Antioxidant Additives Market:
The aviation fuel additives segment is expected to account for a larger revenue share in the global fuel antioxidant additives market, with a value share worldwide. It is projected to grow at a X% CAGR between 2022 and 2028. Fuel antioxidant compounds are frequently utilized in the aerospace industry because of their high effectiveness and reduced environmental impact under challenging conditions. Because part loss is so significant in the aircraft industry, these technologies also increase efficiency by lowering it. The fuel antioxidants in aircraft extend the component service lives and exhibit strong vapor loss resistance even at very high altitudes. Increasing passenger demand and military spending contributed to the aircraft industry's steady growth. US exports of aeronautical products totalled over US$ billion in 2019. The Federal Aviation Administration (FAA) predicts that the overall active general aviation fleet will grow from 212,875 aircraft in 2018 to 211,575 aircraft by 2039 due to the rise in air freight.

Asia Pacific Fuel Antioxidant Additives Market:
The Asia Pacific market is expected to increase in the global fuel antioxidant additives market over the forecast period. It is projected to grow at a CAGR of X% in the coming years. Fuel antioxidants are expected to be in extremely high demand in APAC over the next several years because they are closely related to the need for oil. Additionally, China's low oil prices boost demand for fuel antioxidants. The expansion of the aerospace, automotive, marine, energy, refinery & pipeline, welding & metal fabrication, and other industries in the Asia-Pacific region has had a substantial positive impact on the market for fuel antioxidants.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global fuel antioxidant additives market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

Detailed Segmentation
Based on the product type, the market is segmented into the following:
• Phenolic Antioxidant
• Aminic Antioxidant
• Phosphite Antioxidant
• Thioester Antioxidant
• Others

Based on the application, the market is segmented into the following:
• Diesel Fuel Additives
• Aviation Fuel Additives
• Gasoline Fuel Additives
• Others

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