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Jet Fuel Additives Market to Record an Exponential CAGR by 2025
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Global Jet Fuel Additives Market: Segmentation
Globally, the Jet Fuel Additives market can be segmented on the basis of additive type and application
Based on the additive type, the global jet fuel additives market can be segmented into
Anti-icing
Antioxidants
Corrosion Inhibitors
Antiknock
Metal Deactivators
Others
Based on the application, the global jet fuel additives market can be segmented into
Civil Aviation
Military Aviation
Others (private, etc.)
Global Jet Fuel Additives Market: Dynamics
Corrosion is one of the major enemy of wing and rotor aircraft. Waste arise from microbial contamination is highly acidic and not only interrupt the fuel flow of the engine, but also cause the damage to an aircraft. In order to eliminate this problems in the aircraft, aircraft facilities are utilizing different types of jet fuel additives. Thus in turn, boosting the demand of jet fuel additives across the globe and hence driving the global jet fuel additives market.
Jet fuel additives assist in the improvement of health and safety for maintenance crew members by avoiding the utilization of less suitable additive solutions and draining procedures in order to prevent the ice formation and bacteria in the fuel system.
Stringent environmental emission and regulation in developed countries such as Europe and North America results in the rising demand for cleaner and efficient fuel which have boost the demand of alternative fuels such as liquefied petroleum gas (LPG) and bio-fuels etc. Various fuel additives are available in the market which meets the fuel emission standards set by the various regulatory authorities which assists in driving the fuel additives market across the globe.
The key challenges identified in the global jet fuel additives market include the manufacturing of additives that are environmental-friendly and helps in lowering the carbon emissions. Moreover, fluctuating price of crude oil, manufacturers are striving to reduce dependency on conventional fuels that are capable of impacting their profit margins. Fuel accounts for a significant cost within the aircraft industry.
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Global Jet Fuel Additives Market: Region-wise Outlook
Considering regions, APEJ is expected to dominate the global jet fuel additives market over the next decade. Countries such China and India have shown immense potential in the demand of jet fuels, owing to the rising investments in aircrafts industry and growing GDP. Currently, North America holds the significant market share in the global jet fuel additives market. Europe is expected to show steady growth in the market over the forecast period. Latin America and Middle East & Africa are expected to show slow growth in the market over the near future.
Global Jet Fuel Additives Market: Market Participants
Some of the market participants identified across the value chain of the global Jet Fuel Additives market include BASF SE, Afton Chemical, General Electric Company, Innospec, Shell, Cummins Filtration, The Dow Chemical Company, Dorf Ketal, NALCO, An Ecolab Company, Biobor Fuel Additives, Nexeo Solutions, and others.
The global jet fuel additives market is one of the most fragmented market owing to the presence of significant number of vendors across the various regions.
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