The Global Refinery Fuel Additives Market was valued USD 6.72 BN (by revenue) in 2018. As per the report by Value Market Research it is expected to reach USD 11.15 BN by Revenue in the year 2025. The study foresees a CAGR of 7.5% for the year 2019 - 2025. The growth of refinery fuel additives market can be attributed to the advantage offered such as enhanced performance, improve characteristic and octane number of fuels. Also, rising demand for high-quality fuel in order to meet the fuel specification along with the strict governmental legislation for transportation is further propelling market growth of refinery fuel additives. Additionally, recovering oil and gas sectors coupled with the increasing demand for ultra-low-sulfur diesel is again propelling the demand for refinery fuel additives.
Refinery fuel additives are categorized under those chemicals which are basically used across various refinery fuels in order to enhance the performance and efficiency of fuels. The refinery fuel additives help to reduce emissions, eradicate corrosion effects caused by fuels inside the engines and also enhance the combustion properties of fuels. Refinery fuel additives also help to clean engine, improve engine ignition, reduce gumming, and offer higher fuel efficiency.
The report “Global Refinery Fuel Additives Market Report By Type (Antioxidant, Cold Flow Improvers, Conductivity Improvers, Dehazer, Scavenger, Octane Improvers, Cetane Improvers, Lubricity Improvers And Others), By Application (Gasoline Production, Diesel Production, Aviation Fuel Production, Middle Distillates Production And Residual Fuels Promotion) And By Regions - Industry Trends, Size, Share, Growth, Estimation, And Forecast, 2018-2025” evaluate all the recent development undertaken in the industry.
The market of refinery fuel additives is segmented on the basis of type, application, and region. By the type, the market has been split into antioxidant, cold flow improvers, conductivity improvers, dehazer, scavenger, octane improvers, cetane improvers, lubricity improvers, and others. Cetane improvers are gaining popularity in the market since they help to boost the cetane number of the blend. Also, they help to improve engine efficiency by increasing the speed and also reduce emission which is expected to raise the demand of cetane improvers. By application, the market has been segmented into gasoline & diesel production, aviation fuel production, middle distillates production, and residual fuels promotion. Gasoline and diesel production has emerged as the largest application area for refinery fuel additive owing to the rising need to maximize product yields. Also, rising demand for gasoline and diesel from various automobiles is again fueling demand for refinery fuel additive. Regional segmentation has been done across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. At present, Asia-Pacific is dominating the overall market owing to the rising number of new refineries facilities. Also, increasing pollution along with the rising demand for a fuel-efficient vehicle is further fueling demand for refinery fuel additive in the region.
The Report Segments Global Refinery Fuel Additives Market -
Players Profiled In The Report:
Afton Chemical, BASF SE, Callington Haven, Clariant, Dorf Ketal, ECIC, Infineum, Innospec, Nalco, Racheme Fze, Total S. A, and WRT BV.
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