According to The Insight Partners’ Latest Study on “Biofuel Additives Market Forecast to 2028″ Focus on Covid-19 Impact and Global Analysis – by Product Type (Cetane Improvers, Lubricity Improvers, Demulsifiers, Cold Flow Improvers, Corrosion Inhibitors, Dyes and Markers, Anti-Oxidants, Octane Improvers, Detergents and Dispersants, Others); Biofuel Type (Biodiesel, Bioethanol); Application (Diesel Fuel Additives, Heavy Fuel Oil Additives, Shipping Fuel Additives, Gasoline Fuel Additives, Others) and Geography
Biofuels additives are specialty chemicals that are used to enhance biofuel properties, improve engine performance, and reduce brake specific fuel consumption (BSFC). They play a crucial role in meeting international fuel standards. Biofuel additives such as ethanol, diethyl ether, n-butanol, and methanol are commonly used as biodiesel additives due to their high oxygen content. Biofuel additives in biodiesel blends have been found to improve combustion characteristics and combustion stability. The addition of anti-oxidant additives has also been responsible for the reduction in NOX emissions.
Biofuel additives play an important role in addressing several problems associated with the use of biofuels in IC engines such as low oxidation stability, high foaming tendency, and corrosion. The rising use of biofuels and additives in the automotive, marine, aviation, and energy and power sector is expected to propel the biofuel additives market in the forecast period. The growing awareness about the impact of fossil fuel on the planet is anticipated to drive the demand for biofuels. The gradual transition of the automobile sector to green mobility is expected to drive the demand for biofuels in the future.
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The rising demand for biofuels is expected to create significant opportunities for biofuel additive industries. As countries dependent on oil import strive to become more self-sufficient by promoting the use of renewable energy sources such as biodiesels and ethanol, the demand for biofuel additives is anticipated to grow at a significant pace during the forecast period.
MARKET SCOPE
“Global Biofuel Additives Market Analysis to 2028” is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the biofuel additives market with detailed market segmentation by material, type, end-user industry, and geography. The global biofuel additives market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading biofuel additives market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global biofuel additives market is segmented on the basis of material, type, and end-user industry. On the basis of material, the biofuel additives market is segmented into, polyester, ethylene vinyl acetate, polyolefin, polyamide, polycarbonate, fluoropolymers, and others. On the basis of type, the market is bifurcated into, barrier films, safety & security films, decorative films, microporous films, and others. Based on end-user industry, the global biofuel additives market is segmented into, packaging, automotive, electrical & electronics, aerospace, construction, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global biofuel additives market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The biofuel additives market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
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The report analyzes factors affecting the biofuel additives market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the biofuel additives market in these regions.
MARKET PLAYERS
1. Afton Chemical
2. Biofuel Systems Group Ltd
3. Chemiphase Ltd
4. Chevron Oronite Company LLC
5. Clariant AG
6. Eastman Chemical Company
7. Evonik Industries AG
8. E-ZOIL
9. Fuel Quality Services, Inc
10. The Lubrizol Corporation
Impacts of Covid-19 on the Biofuel Additives Market:
The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Biofuel Additives Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of COVID -19 Situation.
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