DUBLIN--(BUSINESS WIRE)--The "Biofuel Additives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global biofuel additives market size reached US$ 16.8 Billion in 2022. Looking forward, the market is set to reach US$ 26.1 Billion by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028.
Biofuel additives have a wide range of applications, including as emulsifiers, antioxidants, octane improvers, corrosion inhibitors, cetane improvers, dyes and markers, detergents, and dispersant variants.
These additives can be derived from lignocellulosic or conventional feedstock and exhibit specific properties such as density, viscosity, and solubility. Compared to traditional additives, biofuel additives have higher oxygen content, are cost-effective, non-toxic, and do not produce harmful chemicals.
The global automotive industry's significant growth is contributing to a positive market outlook. The increasing demand for biofuel additives on a global scale is primarily driven by their eco-friendly attributes, such as enhanced energy conservation, improved air quality, and reduced greenhouse gas emissions. Furthermore, technological advancements, such as the development of hydrodynamic cavitation techniques for more efficient biodiesel production, are bolstering market growth.
The market is also benefiting from the growing demand for low-emission engines and government initiatives aimed at sustainable development. Additionally, increased usage of biofuel additives in sectors like aviation, energy, power, and marine, along with rising awareness of the adverse effects of fossil fuels, is fostering a favorable market environment.
Key Questions Answered in This Report:
- How has the global biofuel additives market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global biofuel additives market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the biofuel type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global biofuel additives market and who are the key players?
- What is the degree of competition in the industry?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 135 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $16.8 Billion |
| Forecasted Market Value (USD) by 2028 | $26.1 Billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- Afton Chemical Corporation (NewMarket Corporation)
- BASF SE
- Biofuel Systems Group Ltd.
- Chemiphase International Ltd.
- Chevron Corporation
- Clariant AG
- Eastman Chemical Company
- Evonik Industries AG
- E-ZOIL
- Fuel Quality Services Inc.
- Infineum International Limited
- The Lubrizol Corporation
Key Market Segmentation:
Breakup by Type:
- Antioxidants
- Corrosion Inhibitors
- Cold Flow Improvers
- Detergents and Dispersants
- Octane and Cetane Improvers
- Dyes and Markers
- Others
Breakup by Biofuel Type:
- Bioethanol
- Biodiesel
Breakup by Application:
- Diesel Fuel Additives
- Heavy Fuel Oil Additives
- Shipping Fuel Additives
- Gasoline Fuel Additives
- Others
Breakup by Region:
North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/nb2k55
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