An array of additives has been developed to keep up with the needs of the industry that mainly converts hydrocarbon fuels into heat energy, either to leverage transportation or to generate electricity for industrial and domestic consumption.
Innovation has been a continuous requirement in the fuel additive business, mostly driven by legislation that changes the specification of fuels or demands the use of higher quality fuels. For instance, reduction of sulfur content in middle distillate fuels has substantiated the requirement to develop lubricity additives to shield diesel injector pumps. Rise in the demand for diesel exhaust particulate filters has propelled the growth of fuel borne catalyst additive products to aid regeneration, on-board filter cleaning of the particulate filter. Accordingly, specialty fuel additives have provided a bespoke performance-improving additive for use by fuel retailers.
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Besides the automotive industry, the specialty fuel additives are witnessing considerable demand in the aviation industry. In order to clean and remove the deposits from the engine, specialty fuel additives are experiencing massive demand in the cleaning additives and deposit control additives. The ever-growing push to impede rust formation and impel fuel efficiency present sanguine picture for the specialty fuel additives market.
Having said that, environment protection agency (EPA) does not condone specialty fuel additives as environment-friendly products. In light of it, EPA has approved cheaper products which will further deter the growth of specialty fuel additives market.
According to the study, cetane improvers will outperform deposit control additives with respect to global sale. Meanwhile, demand for antioxidant will propel robustly in the global market.
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Specialty Fuel Additives Market: Overview
The report offers a robust analysis on specialty fuel additives market with the aid of qualitative and quantitative assessment. The report focuses on the segmentation of the market to provide thorough analysis on the specialty fuel additives market. Further, the report also shed light on the trends, drivers, opportunities and restraints within the specialty fuel additives market.
The report includes executive summary, overview section which offers deep dive analysis on specialty fuel additives market. Furthermore, the report on specialty fuel additives market incorporates the market outlook and market attractiveness analysis which are aimed at proving a coherent analysis on the specialty fuel additives market. The report also focuses on supply chain analysis, cost structure analysis, value projection and pricing analysis to offer readers with a holistic view on the specialty fuel additives market. The report on specialty fuel additives market also throws light on trend analysis, Porters’ Five Force Analysis and value chain analysis. Porters’ Five Force Analysis offers a thorough analysis on competitive landscape of the specialty fuel additives market.
Consumption in the Automotive Industry
With time and rough usage, the engines accumulate harmful deposits that could block the injectors and disrupt the functioning of the engines. This could prevent the automotive to function smoothly and efficiently. Moreover, increasing demand for additives that help in removing and cleaning the accumulated deposits is likely to impact growth of the global market positively. Increasing need for unclogging the blocked injectors has led to an upsurge in demand for specialty fuel additives.
Steady Demand in Aviation Industry
Apart from the automotive industry, the specialty fuel additives witness significant demand in the aviation industry. Specialty fuel additives witness significant demand in the deposit control additives, and cleanliness additives to clean and remove the deposits from the engine. Moreover, surge in demand for correcting problems related to fuel efficiency and enhancing performance is expected to impact growth of the global market positively. Moreover, growing need to prevent rust formation is expected to boost demand for corrosion inhibitors. Besides protection from rust formation, surge in need for preventing gum formation is expected to fuel demand for oxidation inhibitors. Attributed to metal deactivators, increasing use of specialty fuel additives is expected to inhibit gum formations.
Specialty Fuel Additives Market: Competitive Landscape
A coherent analysis of competitive landscape of the specialty fuel additives market is augmented through the perusal of Porters’ Five Force Analysis. The Porters’ Five Force Analysis provides holistic picture on the potential strategic-steps to be undertaken by rivals. The report is furthered by the inclusion of company overview, financial overview, key differentiation, portfolio of the product, recent development, namely.
Leading market players in the global specialty fuel additives market include BASF SE, Chevron Corp., Berkshire Hathaway, Inc., Ashland Inc., ExxonMobil Corporation, Evonik Industries AG, The Dow Chemical Company, E. I. du Pont de Nemours and Co, Afton Chemical Limited., and Baker Hughes, a GE Co.
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