Energy & Power Industry Reports Specialty Fuel Additives Market Insights to 2024 | страница 2

Hexa Research Fact-based market research, penetrating industry insights and validated forecasts to help you make better decisions for a stronger future led the market in 2013, accounting for 40% volume share. Cetane improvers, with 11% of the volumes, stood second. Rising use of detergents as fuel additives is an important driver of the dominance of deposit control additives. Cold flow improvers could grow at the fastest rate (CAGR of 8%) from 2016 to 2024 (forecast period). This could be credited to expanding demand for biofuel in Europe and North America. Applications are split into gasoline, aviation turbine fuel (ATF), diesel, and other. ‘Other’ includes marine fuel and heating oil. They accounted for 5% of the market in 2013. Gasoline held over 46% of the market volumes in 2013. Although the U.S. generates robust demand for this fuel, other parts of the world prefer diesel. In fact, diesel is anticipated to surpass gasoline and reign supreme by 2024. Regional market segments are North America, Asia Pacific, Europe, Latin America, and MEA (Middle East & Africa). North America garnered maximum revenues in 2013. Asia Pacific was not far behind. It occupied over 27% of the global volumes that year. It is projected to grow at the fastest rate till 2024, owing to increasing consumption of diesel in India and China. The global specialty fuel additives market is moderately concentrated. Key vendors comprise BASF SE, Infineum, NewMarket, Afton Chemical Corporation, Angus Chemical Company, Evonik Industries AG, and Clariant International Ltd. High costs associated with research and development, technology, and manpower are the primary challenges for market entry. Browse Related Category Market Reports @ https://www.hexaresearch.com/researchcategory/conventional-energy-industry Contact: [phone] Email : [email protected] Website: http://www.hexaresearch.com/