Biofuel Additives Industry Trends

Additives are added to address the problems encountered by biofuels that include corroded fuel systems, enhanced fuel foaming.

WILMINGTON, DELAWARE, UNITED STATES, July 8, 2024 /EINPresswire.com/ -- According to a new report by Allied Market Research, titled "World Biofuel Additives Market - Opportunities and Forecasts, 2015-2022," the biofuel additives market is projected to reach $12,560 million by 2022, registering a compound annual growth rate (CAGR) of 15.3% from 2016 to 2022.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/1428

Key Drivers and Market Dynamics:

- Additive Benefits: Biofuel additives are essential for addressing issues such as corroded fuel systems, enhanced fuel foaming, and increased wax formation at lower temperatures. These additives are used at various stages, including refineries, transit, terminals, and end-user stages.
- Market Growth: The market has expanded significantly due to the rising acceptance and performance of first and second-generation biofuels worldwide. Second-generation fuels are particularly prevalent in the U.S. and Europe.
- Driving Factors: The growth in biofuel adoption, availability of renewable feedstocks, and favorable government policies are primary market drivers.

Initiatives to improve air quality, such as vehicle emission directives in Europe, further boost market growth. However, the high cost of biofuel additives may pose a challenge.

Segment Analysis:

- Detergents & Dispersants: This segment held the largest share of the market in 2015 and is expected to maintain its dominance. These additives offer several advantages, including better combustion, increased drivability, decreased emissions, and smoother fuel injection. Consequently, regulatory bodies mandate their use in biofuels.
- Corrosion Inhibitors: Identified as the fastest-growing segment during the analysis period.

Regional Insights:

North America: Expected to lead the market through 2022, with a projected CAGR of 14.3% in terms of volume from 2016 to 2022.
Asia-Pacific: Anticipated to surpass Europe in terms of volume by the end of 2022.
Germany: Accounted for one-fourth of the total European biofuel additives market in 2015.

Market Distribution:

Bioethanol Application: This application dominated more than half of the overall biofuel additives market in 2015 and is expected to continue leading.
Regional Leadership: North America and LAMEA collectively held two-thirds of the total market in 2015, driven by high biofuel production and consumption. Asia-Pacific is expected to be the fastest-growing region after North America during the forecast period.

Major Companies Profiled:

- The Lubrizol Corporation
- Fuel Quality Services, Inc.
- Chemiphase Ltd.
- Clariant AG
- Afton Chemical
- E-ZOIL
- Eastman Chemical Company
- Evonik Industries AG
- Chevron Oronite Company LLC
- Biofuel Systems Group Ltd.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/biofuel-additives-market/purchase-options

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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