DALLAS, September 4, 2014 /PRNewswire/ --
The global fuel additives market is estimated to grow from $5,740.0 million in 2014 to $8,100 million by 2017, at a CAGR of 7.1%, from 2014 to 2019. The market is expected to reach $2,310.1 million in Asia-Pacific by 2019, at a CAGR of 8.03% from 2014 to 2019. By 2019, North America is projected to lose its current position in the ranking and also a chunk of its present share to become number two with 28.01% market share. Europe will be confined to the third position with 24.2% market share. North America will have a consumption of 59.4 KT by 2019 at a growth rate of 2.40% from 2014 to 2019 and a market value of $297.4 million, at a CAGR of 5.71%, from 2014 to 2019.
ReportsnReports.com offers Fuel Additives Market by Applications (Diesel, Gasoline & Aviation), Types (Deposit control, Antioxidant, Corrosion inhibitor, Lubricity & Cetane improvers and others) - Global Trends & Forecast to 2019 research report of 298 pages in its store. The growing trend of improving fuel efficiency and stringent environmental regulations, amid accelerating fuel consumption along with escalating fuel prices has significantly contributed to the growth of fuel additives. A majority of fuel additives are consumed in diesel fuel applications. The diesel fuel additive market has been driven by the increasing Ultra Low Sulphur Diesel (ULSD) and bio-based diesel demand which requires significant amount of dosing. The fuel additive market is highly competitive with the presence of many major companies and some smaller companies with regional footprint. The industry is highly fragmented in terms of the segments to which the products are offered. Due to the presence of a large number of small players, the companies are constantly fighting to capture more and more market share.
The move to low sulphur content fuels will help the application of newer emissions control technologies like addition of fuel additives, which would substantially lower the emissions of particulate matter from diesel engines. This was first introduced in the EU and later in North America. There is also an increasing trend for usage of diesel sourced from various bio-based sources. Both of these alternatives require significantly higher amounts of dosing of fuel additives.
The global fuel additives market saw the maximum activity in 2011. The year was a fruitful one for most companies as the most number of developments in the past year were specific expansion strategies. Besides, the companies continued increasing their efforts to increase customer penetration and diversity by expanding production facilities, creating innovative products, and through setting up facilities in emerging markets abroad. The aim for the companies was not only to increase their reach but also provide innovative and better products at affordable rates to consumers in regions such as South America and Asia-Pacific.
The value chain of fuel additives industry starts with material and component suppliers. It includes many small and big time chemical companies providing components like chemicals and catalysts to fuel additive manufacturers like Afton Chemical Corporation, BASF SE, Chemtura Corporation, and others. Fuel additive manufacturers develop the fuel additives and supply it to two different markets. The major chunk of these supplies goes to crude refiners who are the major consumers of the additives. The refiners use these additives to ensure smooth operations and also to supply better quality products to the consumers by adding those to almost all light and middle distillates like diesel, gasoline, jet fuel, and so on.
Leading players of fuel additives industry have been profiled with their recent developments and other strategic industry activities. These include, The Lubrizol Corporation (U.S.), Innospec Inc. (U.S.), Afton Chemical Corporation (U.S.), Infineum International Ltd (U.K.), Fuel Performance Inc. (FPS) (U.S.), BASF Corporation (Germany), Cerion Energy (U.S.), Chevron Oronite Company LLC (U.S.), Cummins Filtration Inc. (U.S.), Chemtura Corporation (U.S.), Total Petrochemicals and Refining (France), Evonik Industries AG (Germany), Dorf-Ketal Inc.(India), and Albemarle Corp (U.S.). Order a copy of this report at http://www.reportsnreports.com/Purchase.aspx?name=204172 .
Scope of the report:
This research report categorizes the global market for fuel additives on the basis of applications, types, and geography, forecasting volume and value, and analyzing trends in each of the submarkets.
On the basis of application:
- Other applications
On the basis of product type:
- Deposit Control Additives
- Cetane Improvers
- Dyes & Markers
- Lubricity Improvers
- Cold Flow Improvers
- Stability Improvers
- Corrosion Inhibitors
- Octane Improvers
On the basis of geography:
- The U.S.
- The U.K.
- Rest of Europe
- Rest of Asia-Pacific
Middle East & Africa
Explore more reports on chemicals market at http://www.reportsnreports.com/market-research/chemicals/ .
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