Specialty Fuel Additives Market Worth $11.31 Billion By 2024 | CAGR 7.1%
The global specialty fuel additives market is projected to
reach a value of USD 11.31 billion by 2024, according to a new report by Grand
View Research, Inc. Implementation of strict environmental regulations and
demand for fuel efficiency is projected to boost the market growth.
Increasing focus on emission control and energy
efficient fuel in the automotive and manufacturing sector is expected to boost
market growth from 2016 to 2024. The steady development of the auto industry,
especially in the Asia Pacific region, coupled with increasing consumer
awareness regarding the fuel additives is expected to trigger the market growth
over the forecast period.
Rapid industrialization in Asia Pacific is projected
to increase the demand for specialty fuel additives in the manufacturing and
processing industries. Implementation of stringent emission control regulations
and high demand for fuel efficient vehicles is anticipated to drive the
specialty fuel additives market over the coming years.
Full
Research Report On Global Specialty Fuel Additives Market By Grand View
Research:
www.grandviewresearch.com/industry-analysis/specialty-fuel-additives-industry
www.grandviewresearch.com/industry-analysis/specialty-fuel-additives-industry
Further
key findings from the report suggest:
- The global specialty fuel additives demand was
1,542.7 kilo tons in 2015 and is expected to grow at an estimated CAGR of
6.3% over the forecast period
- Deposit control additives dominated the market
with a market share of 40% in 2015. Increasing demand for fuel economy
vehicles is expected to drive the deposit control additives segment over
the forecast period.
- Gasoline segment dominated the global market
capturing more than 46% of total overall demand in 2015
- Preference for gasoline powered vehicles in
North Americas, the significant price difference between gasoline and
diesel powered car in the major markets such as India are responsible for
the higher penetration.
- Diesel is projected to exceed petrol market to
arise as a leading application for the product by 2024, on account of the
rising demand for ultra-low-sulfur diesel
- In 2015, Asia Pacific dominated the fuel
additives market & recorded a market share of above 28%, in terms of
volume. Implementation of stringent environment control regulations in
China, India and Japan, rapid industrialization, and increasing use of
automobiles is projected to boost market growth.
- Some of the leading companies in the market
include NewMarket, BASF, Innospec, Infineum, Albemarle, Baker Hughes,
Chemtura, Dow Chemical, Chevron Oronite, Lubrizol, Total Additives and
Special Fuels, Evonik Industries, Dorf Ketal, Clariant, Eurenco, &
NALCO Champion.
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/conventional-energy
www.grandviewresearch.com/industry/conventional-energy
Grand View Research has segmented the global specialty fuel additives
market on the basis of product, application, and region:
Specialty
Fuel Additives Product Outlook (Volume, Kilo Ton; Revenue, USD Million, 2014 -
2024)
- Deposit
control additives
- Cetane
improvers
- Antioxidants
- Lubricity
improvers
- Cold
flow improvers
- Corrosion
inhibitors
- Others
Specialty
Fuel Additives Market Application Outlook (Volume, Kilo Ton; Revenue, USD
Million, 2014 - 2024)
- Gasoline
- Diesel
- Aviation
turbine fuel
- Others
Specialty
Fuel Additives Regional Outlook (Volume, Kilo Ton; Revenue, USD Million, 2014 -
2024)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Asia
Pacific
- China
- Japan
- India
- Central
& South America
- Brazil
- Middle
East and Africa
- Saudi
Arabia
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-specialty-fuel-additives-market
www.grandviewresearch.com/press-release/global-specialty-fuel-additives-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For More
Information: www.grandviewresearch.com
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