Fuel additives are appropriate solutions, an integral part of automotive, industrial and aerospace applications that are used with conventional petroleum to enhance their properties. The market is valued at USD 7.22 billion in 2017 and is projected to USD 11.3 billion by 2024 at a CAGR of 7.82%.
Gasoline is majorly consumed across the world and automobile is a significant segment for fuel additives in the aviation sector. The significant market share is for the rapid growth of automobile industry.
Asia-Pacific is going to take the lead due to growing demand for automobiles, rise in passenger traffic that is mainly produced in the tourism industry.
The market is mainly having a high demand for ultra-low sulfur diesel across the globe. And the significant drivers of the market increase in some vehicles which lead to the
Type and application segment the fuel additives market. By the type, it is categorised into Antifoams, Anti-oxidants, biocides, Anti-knock, centane improvers, Corrosion inhibitors, lubricity additive, de-emulsifiers and cold flow improvers. By application, the market is categorised into Gasoline, diesel, aviation, automobile and jet fuel.
Many industries and firms in the fuel additives market are continuously trying for technological inclination and are entering the markets with various efficient, advantageous and strategic agreements.
ExxonMobil Corp. has partnerships with leading universities to develop new technologies and improve the efficiency. Evonik manages performance materials segment. It mainly focuses on developing and manufacturing polymer materials and intermediates especially in industries
Starting from $2700
Starting from $2700
Starting from $2700
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