PUNE, India, November 24, 2015 /PRNewswire/ —
The report “Fuel Additives Market by Application (Diesel, Gasoline, Aviation & Others), by Type (Deposit Control, Antioxidant, Corrosion, Inhibitor, Lubricity & CETANE Improvers & Others) and by Regions – Global Trends & Forecasts to 2020”, published by MarketsandMarkets, The Fuel Additives Market is estimated to register a CAGR of 6.9% between 2015 and 2020, to reach USD 8.6 Billion 2020.
Browse 124 market data Tables and 61 Figures spread through 196 Pages and in-depth TOC on “Fuel Additives Market“.
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The increasing use of low sulfur content fuels will boost the growth of newer emissions control technologies such as addition of fuel additives, which would substantially lower emissions of particulate matter from diesel engines.
Asia-Pacific to be the growth engine for the fuel additives market
The demand for fuel additives in Asia-Pacific is expected to rise at the back drop of high performance fuels for automobiles. The performance and life of engine can be improved through fuel additives. The automobile sales in Asia-Pacific are continuously increasing resulting in demand for efficient and high performance of vehicles. This can be achieved by the use of fuel additives.
Stringent government regulations to drive the fuel additives market in North America and Europe
North America and Europe both have stringent fuel emission and environmental regulations in place. These regulations and standards have increased the demand for efficient and cleaner fuel which has increased the use of alternate fuels which includes compressed natural gas (CNG), liquefied petroleum gas (LPG), and bio-fuels. There are various fuel additives which meet the various environmental and fuel emission standards set by the regulatory authority which will help to drive the market for fuel additives in North America and Europe.
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ULSD will catalyze the demand for fuel additives
The fuel additives market is witnessing a high growth due to the increasing demand for Ultra Low Sulfur Diesel (ULSD) across the globe. The ULSD requires extra dose of fuel additives. The worldwide increase in the number of vehicles has resulted in the demand for efficient fuels which meet the government regulations for fuel emissions which is projected to drive the market for fuel additives.
Many active companies in the fuel additives market are continuously striving for technological edge and entering the emerging markets with various strategic agreements. The players involved in this market are specialty chemical companies which manufacture different types of fuel additives. The few companies in the fuel additive market are The Lubrizol Corporation (U.S.), Chevron Oronite Company LLC (U.S.), Innospec (U.S.), BASF SE (Germany), Afton Chemical Corporation (U.S.), and Chemtura Corporation (U.S.).
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The report presents the forecast for fuel additive market till 2020. The market has been segmented on the basis of applications such as diesel, gasoline, aviation fuel, and on the basis of types which are deposit control, antioxidant, corrosion inhibitor, lubricity & cetane improvers, octane improvers, and stability improvers. The market sizes across various regions, namely, North America, Asia-Pacific, the Middle-East, Africa, Europe, and Latin America, along with their respective countries, such as the U.S., Canada, China, India Japan, the U.K., Germany, France, Italy and Russia have been discussed in detail.
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