Press release
Biofuel Additives Market is expected to Reach $12,560 Million, Globally, by 2022
Allied Market Research
Access full summary at: https://www.alliedmarketresearch.com/biofuel-additives-market
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 products 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.
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:
• 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.
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.
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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.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. The data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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