The Asia-Pacific Fuel Additives Market is estimated to grow to $1,928.5 million by 2018 at a CAGR of 5.8% from 2013 to 2018
Online PR News – 14-February-2015 – Fort Worth, Texas – The Asia-Pacific Fuel Additives Market report defines and segments the fuel additives market in Asia-Pacific with analysis and forecast of revenue.
Browse through the TOC of the Asia-Pacific Fuel Additives Market report, to get an idea of the in-depth analysis provided. This also provides a glimpse of the segmentation in the Asia-Pacific fuel additives market, and is supported by various tables and figures.
Fuel additives are chemicals that are used to enhance the properties of fuel. They are mixed with fuels such as gasoline, diesel, aviation fuel, fuel oil, in order to improve fuel efficiency and reduce long-term costs. Also, the fuel additives help meet the environmental emission control standards and improve engine or vehicle performance.
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The fuel additives market in the Asia-Pacific region includes India, China, Japan, and South Korea. Due to the stagnant gasoline demand and lower quantity of additives used in gasoline, the demand for gasoline additives would be affected in the future. However, the demand for diesel fuel additives is high. From the long term perspective, additives are a feasible solution, however, in the short run the overall costs of gasoline and diesel would increase.
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In India, fuel prices are sensitive, and adding additives would surge the overall fuel cost, besides, the environmental regulations are not very strict, although, the awareness about emission controls and need to control toxic substances for cleaner and greener environment is gradually building up, and therefore the fuel additives market is expected to proliferate in future.
The report covers the Asia-Pacific fuel additives market which is segmented on the basis of application and geography. In the Asia-Pacific region, the fuel additives are applied in aviation fuel (ATF), diesel fuel, and gasoline fuel.
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North America Fuel Additives Market
Fuel additives market is witnessing an increase in demand due to the increasing consumption of Ultra Low Sulphur Diesel (ULSD), which requires more dosing of additives. The North America Fuel Additives report estimates the size of the Fuel Additives market both in terms of volume and value. The report provides a comprehensive review of the key market drivers, challenges, and issues.
The North America Fuel Additives market was valued at $1,645.97 million in 2013, and is projected to reach $2,314.99 million by 2019, at a CAGR of 7.06 % from 2013-19. The market is mainly driven by the rising consumption for Aviation fuel and the desire for efficient and effective fuel will also boost the additives market.
The report, ‘North America Fuel Additives Market” defines and segments the Fuel Additives market in the region with analysis and projections of the size with respect to volume and value. The size of the North American Fuel Additives market is projected to grow to 452.68 KT by 2019, at a CAGR of 3.44% from 2013-19.
North America has conventionally, always been a strong market for fuel additives. Globally, this market has been a leader with respect to demand as well as product innovation in terms of quality and application development. Key countries in the North American market are the U.S. (the most dominant market, accounting for a significant market share), Canada, and Mexico. The major players in the industry are Afton Chemical Corporation (U.S.), Lubrizol Corporation (U.S.), and Innospec Inc. (U.S.).
As the global environmental regulations have become more stringent, the fuel additives industry is experiencing significant growth. The North American market is highly regulated with the EPA (Environment Protection Agency) playing a key role in the monitoring and commercialization of fuel additives products.
The diesel fuel additives accounts for highest share i.e. 59.6% size share in 2013 in North American fuel additive market.
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