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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Market Segment by
Type:
• Gasoline
• Diesel
• Aviation Fuel
• Other
Market Segment by
Application:
• Car Industry
• Aeronautics and Astronautics
• Other
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