Specialty Fuel Additives Market Growth Structure, Future insights and Production Cost Forecast Till 2022

The global specialty fuel additives market witnessed a significant CAGR growth in the forecast period. Fuel additives enhance the quality of fuel and are conducive to environment whereas specialty fuel additives enhance necessary characteristics of fuel and curb unnecessary characteristics of fuel. A specialty additive may be blended with other additives to segregate primary features of the fuel which further enhance power output, fuel consumption and efficiency thus helping in reduction of fuel emission which causes toxicity to the environment.

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On a commercial level, there are different types of specialty fuel additives namely oxygenate, alcohol, ethers, antioxidants and antiknock agents. The rising trend of using additives in biodiesel fuel in western countries is expected to gain significant traction in upcoming years owing to the market performance in recent years. Driving factors responsible for the growth of specialty fuel additives market includes rise in levels of toxic emissions owing to use of fuel in vehicles leading to ill effects on environment. Also, specialty fuel additives can help in curbing gas emission from vehicle and also enhance efficiency of gasoline, distillates, diesel and other forms of fuel. It thus reduces combustion and burn rate in extreme temperatures and prevents harmful emissions of pollutants.

Product segmentation for specialty fuel additives market includes cetane improvers, deposit control additives, antioxidants, cold flow improvers and corrosion improvers. Deposit control segment witnessed a positive CAGR in the forecast period due to increasing use of detergents and fuel supplements. Geographical segmentation for specialty fuel additives industry includes North America, South America, Europe, Asia-Pacific, Middle-East and Africa. APAC market anticipated in a higher CAGR owing to rise in sales of automotive. North America and Europe market also witnessed accounted for a larger share in the market owing to stringent environmental norms and regulations coupled with rise in biofuels.

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The key players in the specialty fuel additives market include Albermale, Baker Hughes, Chemtura, Total additives, Lubrizol, Dow Chemical Company, Chevron Oronite, Special Fuels, Evonik Industries, Dork Ketal, Eurenco, NALCO Champion and Clariant.