Fuel Additives Market Global Industry Analysis 2015 - 2023
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According to the TMR market intelligence publication referred to earlier, the global fuel additives market has been foretold to earn an approximate US$2.64 bn by 2023 from US$1.62 bn in 2016 at an 8.3% CAGR. Deposit control additives could be a star performer in the global fuel additives market in terms of product with a stronger revenue anticipated to be secured under its belt by the concluding forecast year. By the end of the forecast period, North America has been predicted to register a higher share in respect of revenue.
Consumer Awareness and Regulatory Pressure Fortify Businesses of Vendors
The authors of the publication have foreseen two key factors that could be responsible for the exceptional growth of the world fuel additives market in prime regions such as North America and Europe. Regulatory pressure and awareness have been studied to play a significant part in furthering the growth of North America and Europe in the coming years. The diverse temperament of fuel type requirements could be crucial for spreading awareness among consumers regarding the availability of several sorts of fuel additives.
The increasing quantity of greenhouse gases in the atmosphere is pressurizing governments around the globe to formulate effective measures for protecting the environment. In order to address this concern, there could be stringent regulations taking shape in most economies that pertain to the application of nonrenewable resources and emissions. As a result, key regions of the world fuel additives market have been predicted to come under a massive regulatory pressure in view of pollution control and emission rates. This could bode well for augmenting the worldwide consumption of fuel additives.
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Fossil Fuel Substitutes Demanding Less Additives Put Stopper on Growth
Rising research and development activities on the part of eco-friendly fuel additives have been prophesied to impede the growth of the international fuel additives market over the forecast period. Ethanol, hydrogen cell, natural gas, propane, biodiesel, and other fossil fuel substitutes do not necessitate the requirement of additives for lowering their emission rates or improving efficiency and are considered as a serious option to be engaged by automobiles. However, this scenario of the international fuel additives market could see a change with the hope of extending the surging reach of applications of bio-based chemicals to fuel additives. Furthermore, other opportunities such as aggressive consumption of various ultra-low-sulfur diesels requiring a large volume of fuel additives have been envisaged to up the demand in the international fuel additives market.
The information presented in this review is based on a TMR report, titled, “Fuel Additives Market (Product - Deposit Control Additives, Cetane Improvers, Antioxidants (Amines, Hindered Phenols, and Mixture of Alkyl Phenols and Aromatic Diamines), Stability Improvers, Lubricity Improvers, Corrosion Inhibitors, Cold Flow Improvers, and Dyes and Markers, Metal Deactivators, and Fuel Dehazers; Application - Gasoline, Diesel, Aviation Fuel, and Heating Oils) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023.”
The global fuel additives market has been segmented as presented below:
Global Fuel Additives Market - Product Analysis
Deposit Control Additives
Mixture of Alkyl Phenols and Aromatic Diamines
Cold Flow Improvers
Dyes and Markers, Metal Deactivators, and Fuel Dehazers
Global Fuel Additives Market - Application Analysis
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