Specialty fuel additives market size is forecast to exceed USD 10.4 billion by 2023 - PowerPoint PPT Presentation


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Specialty fuel additives market size is forecast to exceed USD 10.4 billion by 2023


Specialty fuel additives market size is forecast to exceed USD 10.4 billion by 2023, with growth estimates of 6.8% from 2016 to 2023. Global specialty fuel additives market size analysis targets 2.48 million ton consumption by 2023, growing at 6.1% CAGR. APAC, primarily dominated by India and China specialty fuel additives market, is predicted to reach over 750 kilo tons by 2023, growing at 7.1% CAGR. – PowerPoint PPT presentation

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Title: Specialty fuel additives market size is forecast to exceed USD 10.4 billion by 2023

Specialty Fuel Additives Market size, share,
trends and forecast 2016-2023
Global Market Scenario of Specialty Fuel
Additives Industry
  • Specialty fuel additives market size was
    estimated at 1.55 million tons in 2015, as per
    the latest research report by Global Market
    Insights, Inc. Rising biofuel industry
    penetration and a strong focus on improving fuel
    performance, especially in regards to efficiency
    and emissions will drive the global specialty
    fuel additives market.
  • Growing environment consciousness, mainly in EU,
    U.S., and China, coupled with favorable
    government policies to adopt sustainable
    resources are key trending factors to boost
  • Diesel application is projected to witness
    significant growth of 6.7 CAGR up to 2023. ULSD
    adoption in major countries including U.S. and
    China accompanied by growing biodiesel demand may
    boost the market growth. Reduced biodiesel engine
    functionality in low temperatures conditions
    requires cold flow, which is another influencing
    demand drivers.

  • Deposit control additives dominated product
    segment with total consumption of over 605 kilo
    tons in 2015. Technology advancement in injector
    systems and engines played a key role to
    stimulate market growth. These additives are used
    in all oil types and help to inhibit deposit
    formation on injector nozzles.
  • Growing autogas consumption owing to its
    environmental benefits over conventional
    alternatives may restrain the specialty fuel
    additives market growth. Governments in U.S.,
    Algeria, Australia, India and China are promoting
    autogas usage and offering several benefits on
    certain consumption.
  • Cost benefits over gasoline or diesel is another
    stimulating factor for CNG vehicles expansion,
    wherein Asia Pacific is the leading market.
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Product Analysis
  • Among other products cold flow improvers are
    likely to take significant strides in specialty
    fuel additives industry size, with over 8 volume
    growth and over 7.5 cut of total volume
    consumption by 2023.
  • Cetane improvers (CI) are added to fuels to
    improve their cetane number which further
    enhances performance segment revenue for CI is
    forecast to exceed USD 975 million by 2023.
    Optimum cetane number (50-55) is a must in
    minimizing ignition delays in diesel engines
    growing ULSD consumption should drive CI demand.
  • Deposit control specialty fuel additives market
    size is likely to hit 3,829.7 kilo tons by 2023,
    with growth pegged at 6.4 CAGR. Deposit
    controllers find application in all types of fuel
    and are used to control deposit formation,
    especially on injectors. Owing to introduction of
    new technology engines and injector systems,
    global demand is set to show substantial growth
    in the future.

Browse this report_at_ https//www.gminsights.com/ind
Regional Analysis
  • North America, predominantly U.S. specialty fuel
    additive market size, was dominated by gasoline
    and is forecast to exceed USD 2.5 billion by
    2023. Additionally, a ban on MTBE, which is a
    widely used fuel additive, in the country should
    open up potential avenues for industry
    participants in the U.S.
  • Europe specialty fuel additives market size was
    evaluated to be USD 1.58 billion in 2015, with
    growth expectation of 5.9 over the forecast
    timeframe. EU, especially Germany, UK,
    Netherlands and Belgium, is heavily regulated in
    terms of efficiency, emissions and performance,
    which would be a challenge for fuel suppliers.
  • APAC, which is heavily influenced by China and
    India specialty fuel additives market size, is
    expected to witness consumption growth at over
    7, with a target of 752 kilo tons.
  • Middle East Africa specialty fuel additives
    market size should exceed USD 1.3 billion by 2023.

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Competitive Analysis
  • Global specialty fuel additives market share is
    moderately consolidated, with top 4 participants
    catering to less than 50 of overall industry
    demand in 2015. NewMarket Corporation, with its
    wholly owned subsidiary Afton Chemicals,
    dominated the competitive landscape with over 16
    industry share.
  • Innospec, Infineum, Lubrizol, BASF Baker Hughes
    are other primary players in this industry.

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