Farmington, Feb. 27, 2023 (GLOBE NEWSWIRE) — The Global Fuel additives market The size was USD 8.14 Billion in 2021. The market is expected to grow from USD 8.62 Billion in 2022 to USD 12.87 Billion in 2030 at a CAGR of 5.9% during in 2022-2030.. COVID-19 has had effects on the world that have never been seen before and they are terrifying. For example, demand for fuel additives is lower than expected in all regions compared to pre-pandemic. Our study shows that the global market was 0.2% smaller in 2020 than in 2019.
The global market is expected to grow a lot because cars and other places use more and more advanced and better products. Governments imposing strict rules on businesses is another big thing that is supposed to grow the global market. Also, good governance and better awareness of the need to reduce carbon emissions will help the market.
Request a sample copy of the report”Fuel Additives Market Size, Share and Trends Estimation Report by Type (Deposit Control, Cetane Improvers, Lubricity Improvers, Cold Flow Improvers, Stability Improvers, Octane Improvers and corrosion inhibitors), by application (gasoline, diesel and aviation fuel), by Forecasts by regions and segments, 2023-2030”, published by Contrive Datum Insights.
Recent developments:
- January 2021: Texas Instruments (TI) introduced its highest performance solution for wireless BMS. This solution allows car manufacturers to improve reliability, minimize design complexity and reduce vehicle weight to extend range.
- August 2020: Infineon Technologies Launches New Battery Management System Infineon Technologies has launched a new battery management system called the TLE9012AQU to balance and manage battery charging in electric vehicles. Mainly designed for hybrid and electric vehicle batteries, but also suitable for other applications such as energy storage systems and battery management systems for e-bikes.
Segment overview
Type Insights
Based on type, the market is segmented into deposit control, cetane improvers, lubricity improvers, cold flow improvers, stability improvers, octane improvers, and rust inhibitors. How close a fuel’s cetane number is to the standard cetane number shows how easy it is to start a fire with it. Cetane improvers are often added to diesel fuel. It broke in a way that released heat, which caused the fuel to react and start a fire at a lower temperature.
Most of the market is made up of octane boosts. The higher the number, the better the fuel works. Octane improvers will be in greater demand as refineries increasingly use them because they are cheap and help them meet octane standards. As crude oil and petroleum oils are deteriorating, there is a need for chemicals that stop deposits and improve stability.
Application statistics
Gasoline, diesel and jet fuel make up different parts of the market depending on how they are used. The most important thing in the market was oil. One of the main things driving the market is the growing number of cars, which also increases the demand for gasoline. The market is expected to grow due to things like increasing number of tourists and growing demand for aviation fuel for commercial use.
Regional perspectives:
The fuel additives market in North America was expected to be worth $2.7 billion by 2021. Currently, North America is the largest market, and this should remain so for the coming years. More oil exploration and more demand for fuel from businesses that use it, such as transportation and power production, could drive market growth. The aerospace and defense business is growing rapidly, and many government projects will also help the area do well.
In terms of size, Europe is expected to grow a lot. The market is likely to be driven by the well-established automobile industry and rising demand for passenger cars. Additionally, groups such as the Additive Technical Committee (ATC), which helps the industry grow, will affect the growth of the additive industry.
Asia-Pacific is one of the most economic and developed regions in the world. Countries such as China and India are using more fuel additives, which is likely to be a major driver of the market. Tata, Bajaj, Ashok Leyland and other car makers could increase demand if they worked harder to make better cars.
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Scope of the report:
| Report attributes | Details |
| Growth index | CAGR of 5.9% from 2023 to 2030. |
| Revenue forecast for 2030 | 12.87 billion dollars |
| By Type | Deposit control, cetane improvers, lubricity improvers, cold flow improvers, stability improvers, octane improvers, corrosion inhibitors, others |
| By Application | Gasoline, diesel, aviation fuel, others |
| For Companies | BASF SA (Germany), Dow Inc. (USA), Lubrizol Corporation (USA), Evonik Industries AG (Germany), TotalEnergies (France), Clariant (Switzerland), Chemtura (USA), Dorf Ketal Chemicals (India), Innospec Inc. . (WE) |
| Regions and countries covered |
|
| base year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast year | 2023 to 2030 |
Latest trends:
As you use ultra-low sulfur diesel more and learn more about it, new options will become available.
Very small amounts of sulfur Sulfur-free diesel is diesel that has very little sulphur. This is an example of how high-tech, low-emission technologies could reduce the amount of harmful gases released when fuel is burned. The European government made rules that said the amount of sulfur in diesel had to go down and the new ULSD criteria had to be used. But lubricity improvers are needed for the ULSD to continue to perform as it should. One thing that could help this market grow faster is a greater desire for low-sulfur fuel.
Driving factors:
The fuel additive market will grow if there are good regulations.
As more industries use more fuel, the fuel additives market is expected to grow rapidly. There are many studies and developments in the fuel additive business. Companies that convert hydrocarbon fuels into heat energy for things like transportation, electricity production, and other uses have needed many different kinds of goods. According to ATC information, performance additives are added to about half of the market fuel used on the road. Refineries and other hubs get the other half. This ensures that the product meets the requirements set by the European government. More research and development will also help the market for ultra-low sulfur diesel to grow.
Restrictive factors:
Demand could drop if people want more alternative energy.
In recent years, many different types of clean energy sources have been produced. Concerns about carbon emissions and air pollution have caused the need for clean energy sources to grow exponentially. Putting batteries in cars and other vehicles is one of the newest ways to live in a healthier way. Electric vehicles (EVs) are preferred by transportation companies, businesses and governments because they last longer and help support the use of clean and green energy sources.
Key segments covered:
Major Market Players:
BASF SA (Germany), Dow Inc. (USA), Lubrizol Corporation (USA), Evonik Industries AG (Germany), TotalEnergies (France), Clariant (Switzerland), Chemtura (USA), Dorf Ketal Chemicals (India), Innospec Inc. . (USA), and others.
By Type
- Control of Deposits
- Cetane improvers
- Improved lubricity
- Cold flow improvers
- Improved stability
- Octane improvers
- Corrosion inhibitors
- others
By Application
- gasoline
- diesel
- Aviation fuel
- others
Regions and countries covered
- North America: (USA, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, United Kingdom, Nordic countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- Middle East and Africa: (Saudi Arabia, United Arab Emirates, Egypt, South Africa, Rest of the Middle East and Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- The rest of the world
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Contrive Datum Insights (CDI) is a global partner delivering market intelligence and consulting services to officials in various industries including investment, information technology, telecommunications, consumer technology and capital markets. manufacturing CDI helps the investment community, business executives and IT professionals make accurate, insight-driven decisions about technology purchases and advance sound growth tactics to stay competitive in the marketplace. Comprised of a team size of over 100 analysts and a cumulative market experience of over 200 years, Contrive Datum Insights ensures the delivery of industry insights combined with global and national expertise.
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