Specialty fuel additives are defined as chemical compounds which are formulated to improve both quality & efficiency of fuels. Various specialty fuel additives like antifreeze treatment chemicals, fuel antioxidants, and cold flow additives are most commonly used across end use industries. Key operating players in the specialty fuel additives market are focusing on producing products which are formulated to protect & improve fuel quality in storage systems, during distribution and in transports.
The increase in consumption of fuel additives in the automotive industry is a key driving factor which is expected to drive the global specialty fuel additives market growth. Through the automotive sector has witnessed its ups & downs, several characteristics regarding manufacturing technique and buyers demands have drastically changed during this forecast period. These additives facilitate unclogging of the blocked injectors, eliminate knocking, and provide other parameters of fuel safety & quality, are anticipated to boost the product demand across the automotive industry.
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Also, the rise in levels of toxic emissions as a result of fuel used in vehicles has led to an adverse impact on environment which is expected to increase demand for specialty fuel additives across the globe. The increase in trends of additives in biodiesel blends in Europe, and North America to achieve efficient cold flow performance is anticipated to propel the growth of global specialty fuel additives market growth.
The increase in demand for alternate fuels is a major challenge faced by market which expected to hamper the global specialty fuel additive market growth during this forecast timeframe. Also, huge investments in research and development activities may limit the market growth.
The Global Specialty Fuel Additives Market is segmented into product such as Deposit control additives, Lubricity improvers, Antioxidants, Cetane improvers, Cold flow improvers, Corrosion inhibitors, and Others. Further, market is segmented into application such as Diesel, Gasoline, Aviation turbine fuel, and Others.
Also, the Global Specialty Fuel Additives Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Evonik Industries AG, Chemtura Corporation, Infineum, Innospec, Lubrizol Corporation, Chevron Oronite Company LLC, Dorf Ketal Chemicals LLC, Dow Chemical Company, etc.
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