The global specialty fuel additives is expected to register a moderate growth attributed to considerable demand in the aviation and automotive industry. Growing need for efficient fuel performance and protection from rust and gum formation is expected to contribute towards growth of the global market positively. This Fact.MR report discusses key prospects for growth of global specialty fuel additive market during the forecast period, 2017-2022, offering pragmatic insights to lead market players towards devising & implementing informed strategies.
The scope of the report is to analyze the global specialty fuel additive market for the period 2017-2022 and give readers an accurate, unbiased analysis. Specialty fuel additive manufacturers, suppliers, and stakeholders in the overall automotive market can benefit from the insights offered in this report. The comprehensive analysis offered in the report can also be of interest to leading automotive journals and trade magazines.
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Consumption in the Automotive Industry
With time and rough usage, the engines accumulate harmful deposits that could block the injectors and disrupt the functioning of the engines. This could prevent the automotive to function smoothly and efficiently. Moreover, increasing demand for additives that help in removing and cleaning the accumulated deposits is likely to impact growth of the global market positively. Increasing need for unclogging the blocked injectors has led to an upsurge in demand for specialty fuel additives. Specialty fuel additives also help in burning the fuel in the cylinder after combustion, which helps in eliminating knocking. As specialty fuel additives resists knocking, the engine functions smoothly. Attributed to such factors, the manufacturers prefer using the specialty fuel additives that resist knocking in the engine, and enhances the functioning of the automotive.
Steady Demand in Aviation Industry
Apart from the automotive industry, the specialty fuel additives witness significant demand in the aviation industry. Specialty fuel additives witness significant demand in the deposit control additives, and cleanliness additives to clean and remove the deposits from the engine. Moreover, surge in demand for correcting problems related to fuel efficiency and enhancing performance is expected to impact growth of the global market positively. Moreover, growing need to prevent rust formation is expected to boost demand for corrosion inhibitors. Besides protection from rust formation, surge in need for preventing gum formation is expected to fuel demand for oxidation inhibitors. Attributed to metal deactivators, increasing use of specialty fuel additives is expected to inhibit gum formations.
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Diesel Specialty to Represent a Leading Segment
With increasing need for reducing the ignition delays during combustion, demand for the cetane improvers is expected to rev up. The cetane improvers segment is expected to represent a value of over US$ 600 Mn by the end of 2022. The deposit control additives segment is expected to represent the second highest revenue growth in the global market by the end of 2022. However, the anitoxidants segment is expected to register the highest CAGR in the global market through 2022.
Competition Tracking
Leading market players in the global specialty fuel additives market include BASF SE, Chevron Corp., Berkshire Hathaway, Inc., Ashland Inc., ExxonMobil Corporation, Evonik Industries AG, The Dow Chemical Company, E. I. du Pont de Nemours and Co, Afton Chemical Limited., and Baker Hughes, a GE Co.
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