Summary
Asia Pacific Fuel Additives Market Segmented by Product type , Application and Geography Trends and Forecasts ( 2017-2022 )
Description
The Asia Pacific Fuel Additives Market is estimated to grow at a CAGR of 8 % during the forecast period , ( 2017 - 2022 ). The market value is projected to reach $ 2,384.64 million by 2020 . The major driving factors in this region are the rapid development of the trucking fleet and the growing industrial and transportation activity that has resulted in increasing demand for additives .
Currently , North America represents largest business in the fuel additives market . However , the market in this region will slip to second position behind the Asia Pacific in the next five years . Asia Pacific will show the highest growth rate during the forecast period , driven predominantly by increasing fuel demand from developing economies such as India and China .
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Fuel additives are used to make motor vehicle functions more efficient . They can either be added to gasoline or sold separately . The benefits of fuel additives include superior engine performance and increased power , both of which allow drivers to travel further than they could on basic gasoline .
Apart from these qualities , the fuel additives also work towards reduction of corrosive effects and enhancing combustion properties . Different grades of fuel blends are being widely used in various industrial sectors including commercial , automotive , industrial , and aerospace .
Place a Purchase Order for this Report at : http :// www . orbisresearch . com / contact / purchase / 217940 . Drivers :
Rigorous environmental regulations , increasing demand for clean and efficient fuel , and depleting crude reserves are the main drivers in this market .
Constraints :
Volatile raw materials prices and huge investment in new material research activities are the major challenges faced by the industry players .
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