The global market for specialty fuel additives was valued at USD 4.69 billion in 2012 and is expected to reach a market worth USD 7.02 billion
by 2019, growing at a CAGR of 6% from 2013 to 2019. In terms of volume
the market was 1,201.8 kilo tons in 2012 and is expected to grow at a
CAGR of 5.3% from 2013 to 2019.
Growing
environmental concerns regarding the emission of toxic gases into the
atmosphere during ignition of transportation fuel has been prompting
regulatory bodies of various governments to mandate the use of specialty
fuel additives. In addition, the growing consumption of biofuels in
blending of liquid transportation fuel in the U.S. and Europe
is expected to drive the market over the forecast period. However,
growing demand for CNG and LPG as transportation fuels has been acting
as one of the major factors inhibiting the market growth.
Deposit
control additives dominated the additives market globally and accounted
for over 35% of the total demand in 2012. The growing demand for
detergents as additives in fuel is one of the major factors driving the
sale of deposit control additives. Deposit control additives were
followed by cetane improvers with 9.8% of the total demand in 2012.
Growing consumption of ULSD (ultra low sulfur diesel) in North America and Europe
is expected to contribute to the growth of cetane improvers over the
forecast period. Cold flow improvers are expected to be the fastest
growing additives at an estimated CAGR of 7.3% from 2013 to 2019.
Growing biodiesel consumption in the U.S. is expected to drive the cold
flow improvers market.
Gasoline
emerged as the leading fuel, consuming specialty fuel additives, and
accounted for 45.6% of the total demand in 2012. However, the demand for
gasoline based specialty fuel additives has been witnessing growth only
in the U.S. due to the country's growing consumption of gasoline. In
other regions around the world, gasoline demand has been stagnant on
account of which the demand for specialty fuel additives used in diesel
have been gaining popularity. Diesel accounted for 45.3% of the total
demand in 2012 and is expected to surpass gasoline to become the leading
fuel consuming specialty fuel additives by 2019. Other fuels for which
specialty fuel additives are being used include ATF, marine fuel,
heating oil, etc.
North America
emerged as the leading consumer for specialty fuel additives and
accounted for 29.9% of the total market in 2012. Growing consumption of
ULSD and biofuels has been acting boosting the demand for specialty fuel
additives in the region. North America was followed by Asia Pacific and is expected to be fastest growing market at an estimated CAGR of 6.2% from 2013 to 2019. Asia Pacific
is expected to lead the global market with highest market share by
2019. The growing environmental intervention to reduce emission of
harmful gases into the atmosphere has been driving the market for
specialty fuel additives in Europe.
Specialty Fuel Additives Market: Product Segment Analysis
- Deposit control additives
- Cetane improvers
- Antioxidants
- Lubricity improvers
- Cold flow improvers
- Corrosion inhibitors
- Other (including dyes & markers, metal deactivators, etc.)
Specialty Fuel Additives Market: Application Analysis
- Gasoline
- Diesel
- Aviation Turbine Fuel (ATF)
- Other (including marine fuels, heating oil, etc.)
Specialty Fuel Additives Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
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