Fuel Additive Market Research is a defined process to collect information about customers, competitors, and everything that a business needs to understand to sustain and grow. It offers important analysis to distinguish and examine the market needs, size, and trends. Market research is generally divided into, primary research and/or secondary research. The process usually includes collection and interpretation of market data by using statistical and analytical techniques to support the decision making process.
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Global Fuel Additive Market was valued at USD 6.3 billion in 2017 and growing at a CAGR of 7.5% during the forecast period of 2018 to 2025.
Major Market Competitors:
Some of the major players operating in the market are –
- Town of Newmarket,
- BASF SE,
- Infineum International Limited,
- Albemarle Corporation,
- Baker Hughes Incorporated,
- Chevron Oronite Company LLC,
- The Lubrizol Corporation,
- Evonik Industries AG,
- Legal Notice –
- Clariant among others.
Global Fuel Additive Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of fuel additive market for global, Europe, North America, Asia Pacific and South America.
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Fuel additives are compounds formulated to enhance the quality and efficiency of fuels used in motor vehicles. They increase a fuel’s octane rating or act as corrosion inhibitors or lubricants, thus allowing the use of higher compression ratios for greater efficiency and power. Fuel additives can help to avoid problems such as rough idling, weak acceleration, stumbling and stalling. Fuel additives are available in a number of forms, such as liquid, powder or pill. They work in a number of different ways and claim to do various things to the fuel, including: Remove sludge, Control soot, Improve combustion, Act as a biocide etc. Any liquid that is added to the fuel supply of vehicles, either via the filler cap or other parts of the fuel system, is classified as a fuel additive. Fuel additives enhance engine performance, which allows further travel on gas infused with additives than would be possible otherwise. Engine maintenance is another common benefit of fuel additives.
The Fuel Additive Market is Segmented based on:-
- End User Applications and
Based on Type the market is classified into:-
- Deposit Control Additives,
- Cetane Improvers,
- Corrosion Inhibitors,
- Lubricity Improvers,
- Dyes And Markers,
- Cold Flow Improvers,
- Stability Improvers,
- Octane Improvers,
- Anti-Icing Fuel Additives and other fuel additives.
Based on Application the market is classified into:-
- Diesel Fuel additives,
- Gasoline Fuel Additives,
- Aviation Fuel Additives and other
- Application Fuel Additives.
On the Basis of End User applications the market is classified into:-
- Diesel and others (aviation fuel, marine fuel, and heating oil).
Based on Geography the global fuel additive market report covers data points for 28 countries across multiple geographies namely:-
- North America &
- South America,
- Asia-Pacific and,
- Middle East & Africa.
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