Oct 11, 2019   SOURCE: BusinessWire

Global Fuel Additives Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio

The global fuel additives market size is expected to post a CAGR of over 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191010005739/en/

Technavio has announced its latest market research report titled global fuel additives market 2019-2023. (Graphic: Business Wire)

Technavio has announced its latest market research report titled global fuel additives market 2019-2023. (Graphic: Business Wire)

The increasing adoption of ultra-low sulfur diesel (ULSD) is expected to drive the growth of the global fuel additives market during the forecast period. The adoption of ULSD helps in achieving near-zero emissions of exhaust gases of particulate matter and ozone precursors. ULSD also improves combustion efficiency and enables quick start of the engine during cold weather conditions. However, ULSD requires high use of fuel additives to reduce fuel consumption, noise, smoke exhaust, and emissions. ULSD is already available as diesel fuel type in countries such as the US, France, Canada, Germany, the UK, and others.

To learn more about the global trends impacting the future of market research, download free sample: https://www.technavio.com/talk-to-us?report=IRTNTR31181

As per Technavio, the growing demand for multifunctional additives will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Fuel Additives Market: Growing Demand for Multifunctional Additives

The consumption of biofuels has been increasing significantly in recent years. However, the high cost of production is the biggest challenge in the adoption of biofuels. Hence, manufacturers are using efficient strategies such as use of catalysts, cheap raw materials, and advanced technologies to bring down production costs. The use of multifunctional additives plays a vital role in the cost-effective production of biofuels. Multifunctional additives deliver multiple benefits in a single additive package. Therefore, the growing demand for multifunctional additives is one of the key trends that will boost the growth of the fuel additives market over the forecast period.

“Apart from the growing demand for multifunctional additives, other factors such as the increasing popularity of mobile power plants, and new developments in fuel additives will have a positive impact on the fuel additives market growth during the forecast period,” says a senior analyst at Technavio.

Register for a free trial today and gain instant access to 10,000+ market research reports.

Technavio's SUBSCRIPTION platform

Fuel Additives Market: Segmentation Analysis

This market research report segments the fuel additives market by type (deposit control additives, cetane improvers, antioxidants, cold flow improvers, lubricity improvers, corrosion inhibitors, and other types), application (diesel fuel additives, gasoline fuel additives, aviation fuel additives, and others) and geography (APAC, Europe, MEA, North America, and South America).

The APAC region led the market in 2018, followed by Europe, North America, MEA, and South America respectively. The market dominance of APAC can be attributed to the increase in the use of fuel additives for applications, such as diesel, gasoline, and aviation. The emergence of India and China as a manufacturing hub is expected to further increase fuel consumption in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.