Fuel Additives Market Analysis, Size, Current Scenario and Future Prospects

The global fuel additives market is anticipated to grow at a considerable CAGR of 4.5% during the forecast period (2024-2031). The increased demand for fuel from the end-user industries has driven the demand for fuel additives market across the globe. This industry requires a lot of R&D, therefore the ongoing R&D to develop efficient fuel additive is a key factor driving the growth of the global fuel additives market. NYK and Nippon Yuka Kogyo have been investigating the properties of VLSFO as one of the measures to comply with SOx emission requirements, and in 2019 developed the sludge-dispersing fuel oil additive Yunic 800VLS. In May 2022, they observed Yunic 800Eco enhances sludge dispersion and improves combustion. In three fuel consumption ratio reduction tests conducted with compliant fuel oils in Japan and overseas, we observed fuel consumption was reduced by up to 1.2% compared to when the additive was not used, and carbon monoxide (CO) emissions were also reduced.

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In December 2020, Scientists from the Indian Institute of Technology Gandhinagar (IITGN) have developed a highly efficient additive for rocket propellants that may reduce the effective fuel weight and help carry more payload to space. The new class of nano-additives results in a superlative enhancement in the performance of solid propellants used in rocket propulsion systems. While conventionally used fuel such as ammonium perchlorate (AP), widely in rocket propulsion systems, require several additives to improve performance, the scientists said these can take up to 30 per cent of the total weight of the fuel. "The nano-sheet form of the material is making it rich in catalytic activity as the surface area for its reaction is significantly increased.

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Market Coverage

• Segment Covered-

o By Product type

o By Application

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- including Afton Chemical Corp., The Lubrizol Corp., Innospec Inc., BASF SE, and Chevron Corp. among others.

Key questions addressed by the report

• What is the market growth rate?

• Which segment and region dominate the market in the base year?

• Which segment and region will project the fastest growth in the market?

• Who is the leader in the market?

• How are players addressing challenges to sustain growth?

• Where is the investment opportunity?

Global Fuel Additives Market Report Segment

By Product Type

Deposit Control
Cetane Improvers
Lubricity Additives
Antioxidants
Anticorrosion
Cold Flow Improvers
Antiknock Agents
Other Product Types

By Application

Diesel
Gasoline
Jet Fuel
Other Applications


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Media Contact:

Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
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Company Name: Orion Market Research

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