Press release
Rising Road Traction of Fuel-Based Vehicles Boost Demand for Fuel Additives
Under the type segment, the fuel additives industry is projected to capture the largest industry share, and it is projected to retain its position in the coming years. It is ascribed to the multifunctional usage of such additives. That is why companies prefer to produce these additives massively.
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Moreover, these products are utilized for both diesel and gasoline fuel, which is why it is projected to lead the industry in the coming years.
Under the application segment, the diesel category captures the largest industry share. It is ascribed to the wide preference of people for diesel vehicles running on gasoline. In addition, diesel is widely utilized in generators as a marine fuel.
APAC captures the largest industry share, and it is projected to follow the same trend in the coming years. It is ascribed to the expansion of the petrochemical industry. Moreover, China captures a significant industry share, led by continuous R&D in such products and expansion of the automotive industry.
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The major companies operating in the industry are; Clariant International Ltd., Croda International Plc, The Lubrizol Corporation, Total S.A., Evonik Industries AG, and Innospec Inc.
Therefore, the increasing requirement to improve fuel efficiency boosts the demand for fuel additives.
Browse more reports:
Fuel Cell Market Report - https://bit.ly/3jEWbme
Planar Solid Oxide Fuel Cell Market Report - https://bit.ly/3Z07iq2
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