The fuel additives market will register a CAGR of over 7% by 2023
NEW YORK, May 7, 2019 /PRNewswire/ -- About this market
The growing demand for fuel from end-user industries will trigger the growth of fuel additives during the forecast period. Fuel additives are increasingly being used for improving ignition efficiency, unclogging blocked injectors, and reducing or eliminating knocking while helping the engine run smoothly. In addition, various emerging economies including China, India, Indonesia, China, and Thailand are further fostering the demand for fuel additives mainly due to the rising demand of fuel from automobile industry. The rising demand for fuel additives from marine industry, logistics industry, and aerospace industry will also boost the fuel additives market growth during the forecast period. Analysts have predicted that the fuel additives market will register a CAGR of over 7% by 2023.
Read the full report: https://www.reportlinker.com/p03571283/?utm_source=PRN
Market Overview
Increasing demand for biofuels
One of the growth drivers of the global fuel additives market is the increasing demand for biofuels. The growing demand for biofuels in various applications such as automotive, aviation, and others are expected to propel the demand for fuel additives.
Growing demand for electric vehicles in the automotive industry
One of the challenges in the growth of the global fuel additives market is the growing demand for electric vehicles in the automotive industry. The growing innovation and research for alternative fuel technologies are expected to hinder the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the fuel additives market during 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented with the presence of several market players. Manufacturers are focusing on adopting strategies such as the use of an efficient catalyst, cheap raw materials, and advanced technologies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
Read the full report: https://www.reportlinker.com/p03571283/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001
View original content:http://www.prnewswire.com/news-releases/the-fuel-additives-market-will-register-a-cagr-of-over-7-by-2023-300845750.html
SOURCE Reportlinker
