Market Research Report
Biofuel Additives Market with COVID-19 Impact Analysis, By Type, By Biofuel Type, By Application, and By Region - Size, Share, & Forecast from 2021-2027
|Published by||AnalystView Market Insights||Product code||1001314|
|Published||Content info||299 Pages
Delivery time: 2-3 business days
|Biofuel Additives Market with COVID-19 Impact Analysis, By Type, By Biofuel Type, By Application, and By Region - Size, Share, & Forecast from 2021-2027|
|Published: April 1, 2021||Content info: 299 Pages||
The global biofuel additives market was valued at USD 11.84 billion by 2020, growing with 16.3% CAGR during the forecast period, 2021-2027.
Conventional feedstock and lignocellulosic feedstock are highly used to synthesize biofuel additives. They are also called specialty chemicals and used to increase biofuel properties, brake-specific fuel consumption, and engine efficiency. Globally, the consumption of biofuel chemicals has increased owing to their eco-friendly. Furthermore, the rising demand for safe and reliable gasoline, declining crude oil quality, high-quality requirements associated with biofuels, and a growing automotive industry are all contributing to boost the demand for biofuels. Hence, these factors will be responsible for flourishing the biofuel additives market growth during the forecast timeline.
The rapid growth in industries such as marine, automotive, energy & power sector, and aviation coupled with supportive government regulation which promote the adoption of eco-friendly fuel additives will help to upsurge the product demand. The growth is attributed to their ability to stable biodiesel blends and to increase combustion properties. Also, various oil-importing countries are encouraging the use of green energy sources such as biodiesels and ethanol. As a result, demand for biofuel additives is expected to increase significantly over the review period. However, the product carries certain disadvantages which include injector deposit & corrosion and low oxidation stability are acting as a restrain for market growth.
Based on type, the detergent & dispersants segment is the leading segment. The growth is due to its various beneficial properties which include better combustion, smoother fuel injection, consumption of low fuel, higher performance, and cost-effectiveness. Also, they have the ability to remove deposits, clean fuel & combustion systems, and ensure the engine's proper operation by preventing them from forming. Based on biofuel type, the bioethanol segment is anticipated to witness the highest market share owing to increasing its adoption as an additive in gasoline and as motor fuel. The demand for biodiesel is increasing as a vehicle fuel, and it also aids to improve air quality and the environment, provides safety benefits, and increases energy security. On the basis of application, the gasoline fuel additive is projected to witness sustainable growth. The rapid infrastructure development in the countries such as China, the US, India, and Germany and the high growth of the marine and automobile industry will fuel the segment growth.
In the biofuel additives market, North America accounted to witness higher growth during the forecast period, in which the US is the leading contributor. According to the U.S. Energy Information Administration, the US accounted for a 22% market share of global biodiesel consumption. Further, increasing demand for biofuel additives from gasoline and shipping fuel additives will fuel the market growth in this region. The rapid growth in the automotive and aviation industry will boost the product demand in Europe. In the Asia Pacific, market growth is attributed to the rising demand for antioxidants, and detergents & dispersants from various application.
Further, the rising infrastructure development in countries such as China, India, and Japan and technological advancement will also play a major role to propel market growth. The Middle East & Africa is anticipated to grow with sustainable growth owing to increasing demand for bio-ethanol from gasoline fuel additives.
Key features of the study:
This proposed research study on biofuel additives market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2020-2027), considering 2019 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for biofuel additives market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the biofuel additives market
Impact of COVID-19 on Biofuel Additives market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on biofuel additives market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the biofuel additives market, we have also included competitive landscape and key innovator analysis for the biofuel additives market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and end-user's attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the biofuel additives market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new application launch, research & development, regional expansion of major participants involved in the biofuel additives market on global as well as regional level.
The global biofuel additives market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL BIOFUEL ADDITIVES MARKET KEY PLAYERS
The Lubrizol Corporation
Biofuel Systems Group Ltd.
Fuel Quality Services
OBR Joint Stock Company
Chevron Oronite Company LLC.
Infineum International Limited.
Eastman Chemical Company
GLOBAL BIOFUEL ADDITIVES MARKET, BY TYPE
Detergents & Dispersants
Cold Flow Improvers
Dyes & Markers
Octane & Cetane Improvers
GLOBAL BIOFUEL ADDITIVES MARKET, BY BIOFUEL TYPE
GLOBAL BIOFUEL ADDITIVES MARKET, BY APPLICATION
Diesel fuel Additives
Gasoline Fuel Additives
Shipping fuel Additives
Heavy fuel oil Additives
GLOBAL BIOFUEL ADDITIVES MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA
List of Tables
List of Figures