The Bottled Fuel Additives Market is expected to reach $505.95 M during the forecast period
By Type (Corrosion Inhibitors, Demulsifiers, Cetane Improvers, Detergents, Metal Deactivators, Antioxidants, Octane Improvers and Others); By Application (Diesel, Gasoline, Biofuel, Industrial Fuel, Marine Fuel and Aviation Fuel) and By Geography – Forecast 2018-2023”, the market is driven by the increasing use of non-ferrous alloys and metals during the forecast period.
Bottled Fuel Additives Market (2018 - 2023)”
Europe dominates the Bottled Fuel Additives Market during the Forecast Period
The Americas holds a major share in the Bottled Fuel Additives Market, owing to its heavy industrial applications and automotive industry. The evolution of e-commerce, economic recovery, and resurgence in domestic manufacturing have generated resiliency in the industrial sector. In 2013, more than 5 million vehicles were produced in the US. These vehicles were sold at the American dealership franchises or exported from the US to other countries of the world. Europe is the second largest region in the market. It has a higher share in the market, since it is a major consumer of biodiesel compared to the other regions. Germany dominates the market, followed by France, UK, and Switzerland.
Selected Analysis done in the full Report:
- Gasoline is a petroleum derived liquid which is used as a fuel in the internal combustion engines. It is a fuel source for automotive and other vehicles. A series of additives such as octane improvers, corrosion inhibitors, metal deactivators, and antioxidants are used to make gasoline more efficient. Octane improvers are the most used gasoline fuel additives. Gasoline blends, along with methanol fuel additives, are used in racing cars, since methanol serves as a high octane booster.
- In various industries, bottled fuelled additives are used due to their oxidation inhibitor property. To ensure a better performance of fuel, high performance chemicals are used as additives. Industrial fuel additives ensure that machines run smoothly. Fuel additives which are mostly used are cetane improvers, metal deactivators, antioxidants, corrosion inhibitors, etc.
Excerpts on Market Growth Factors
- Higher spending of consumers is driving the demand for light and heavy duty vehicles. Higher sale of automobiles leads to a higher consumption of fuels, lubricants, and more uses of bottled fuel additives.
- Increasing use of non-ferrous alloys, metals, and their premature deterioration in lubricating systems enhances the demand for Bottled Fuel Additives Market.
- Growing need for more enhance additives due to the demands from consumers and end user industries spurs the growth of bottled fuel additives.
- Growing awareness about the need for reducing the Carbon footprint and toxic emissions leads to the need for cleaner fuel. Hence, the need for more lubricant additives are required.
Key players of the Bottled Fuel Additives Market
Lubrizol Corporation, BASF SE, and Afton Chemical Corporation are the key players of the Bottled Fuel Additives Market. Lubrizol manufactures complex chemicals for improving vehicle performance. It also produces advanced polymers and additives for industrial machines. BASF SE is a leading operator of chemicals and is headquartered in Ludwigshafen, Germany. Its product portfolio includes functional materials, solutions, chemicals, and performance products. Afton Chemical Corporation is the largest lubricant and fuel additive company which specializes in performance specialty chemicals.
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