The latest research study by IMARC Group, “Biofuel Additives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” offers a comprehensive analysis of the industry, which comprises insights on global biofuel additives market size. The global biofuel additives market reached a value of US$ 15.58 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 24.47 Billion by 2027, exhibiting a CAGR of 7.60% during 2022-2027.
Biofuel Additives Industry Outlook:
Biofuel additives refer to specialty compounds used to improve the performance of biofuels, such as biodiesel, ethanol, methanol, and diethyl ether. They are obtained from the lignocellulosic feedstock or conventional feedstock and have good density, viscosity, and solubility. They enhance combustion quality and engine performance and reduce heating and brake-specific fuel consumption (BSFC). Some of their commonly available variants include cetane improvers, dyes and markers, emulsifiers, antioxidants, corrosion inhibitors, octane improvers, detergents, and dispersant variants. They have a higher oxygen content than traditional additives and are more affordable, non-toxic, and do not produce harmful chemicals. As a result, biofuel additives find extensive applications across the electric power, aviation, automotive, and marine industries.
Request for a Free Sample Copy of This Report: https://www.imarcgroup.com/biofuel-additives-market/requestsample
Market Trends:
The global biofuel additives market is primarily driven by the rapid expansion in the automotive industry. Moreover, the implementation of various favorable government initiatives toward sustainable development and the shifting preferences toward low-emission engines are positively influencing the market growth. Additionally, the surging adoption of biofuel additives due to their eco-friendly nature, including offering enhanced energy conservation, reducing greenhouse gas (GHG) emissions, and improving air quality, is another major growth-inducing factor.
Furthermore, numerous technological advancements, such as the launch of hydrodynamic cavitation techniques for manufacturing biodiesel with enhanced reaction rate and energy efficacy, are contributing to market growth. Other factors, including the rising awareness regarding the adverse effects of fossil fuels, increasing acceptance of first and second-generation biofuels, and the emerging trend of green mobility, are also anticipated to drive the market further.
Key Market Segmentation:
The report has segmented the global biofuel additives market on the basis of type, biofuel type, application and region.
Breakup by Type:
Breakup by Biofuel Type:
Breakup by Application:
Breakup by Geography:
Ask Analyst for 10% free customized report: https://www.imarcgroup.com/request?type=report&id=5305&flag=C
List of Key Companies Covered in this Market Report:
The major players in the market are 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 and The Lubrizol Corporation.
Note: We are updating our reports, if you want the report with the latest primary and secondary data (2022-2027) including industry trends, market size and competitive landscape, etc. click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.
About IMARC Group:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Phone: +1-631-791-1145
Address: 30 N Gould St Ste R
City: Sheridan
State: WY
Country: United States
Website: https://www.imarcgroup.com
