Press release
Fuel Additives Market Globally Grow at a CAGR of 8.6% by 2026: Cerion, Cummins, The Lubrizol Corporation, Baker Hughes Incorporated, Afton Chemical Corporation, Lubrizol Corporation, BASF SE
Global Fuel Additives Market OverviewThe Fuel Additives market is accounted for $7.06 billion in 2017 and is expected to reach $14.84 billion by 2026 growing at a CAGR of 8.6%. Some of the factors influencing the market growth are growing demand for efficient and low emission fuel from automobiles, increasing global passenger traffic and the diffusion of ultra-low sulphur diesel (ULSD). However, the rise in demand for alternate fuel vehicles (AFVs) is hampering the market growth.
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Industry Insights:
Fuel additives refer primarily to chemical and materials consumer products added to transportation fuels, although additives and other substances can also be added to heating and cooking fuels. Also these additive packages improve various performance parameters such as combustion, mileage, octane rating, lubricity and few others. Corrosion inhibitors are the majorly consumed type of additive package across the world.
Major Players:
Some of the key players in the Fuel Additives market include Cerion LLC, Cummins Inc., The Lubrizol Corporation, Baker Hughes Incorporated, Afton Chemical Corporation, Lubrizol Corporation, BASF SE, Evonik Industries AG, Chemtura Corporation, Fuel Performance, Solutions Inc., Innospec Inc., Chevron Oronite Company LLC, Infineum International Ltd., TOTAL SA and Dorf Ketal Chemicals India Pvt. Ltd.
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Market Segmentation:
Based on type of fuel, diesel fuel segment is projected to grow at a steady rate due to technological advancements, growing demand from the end-user industries and increase in usage of diesel at manufacturing plants and industrials. In addition, rising demand of vehicles with respect to increase in number of diesel vehicles is also favouring the market growth. By geography, Asia Pacific is anticipated to grow at fastest rate led by growth of automobiles industry in emerging countries. However, North American is expected to dominate the regional segment owing to the stringent government regulations.
Products Covered:
• Stability Improvers
• Octane Improvers
• Lubricity Improvers
• Dyes and Markers
• Deposit Control Additives
• Corrosion Inhibitors
• Cold Flow Improvers
• Cetane Improvers
• Antioxidants
• Anti-Icing Fuel Additives
• Other Products
Regions Covered:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
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