The Biofuel Additives Market size was valued at USD 16.54 billion in 2022, and is expected to reach USD 49.40 billion by 2030, and grow at a CAGR of 14.8% over the forecast period 2023-2030.
The development of biofuels begins with lignocellulosic feedstock. Specialty compounds called "biofuel additives" are used to improve the qualities of biofuel. Biofuel additives increase engine efficiency and decrease fuel use for brakes (BSFC). Biofuel additives are essential for addressing a variety of problems, including corrosion in IC engines, high foaming tendency, and low oxidation stability. The two biofuels that are most frequently used by end-use industries are biodiesel and bioethanol. The market for biofuel is expanding, as is the market for biofuel additives, due to the increasing demand for clean and efficient fuel among end users. The primary drivers of market growth between 2023 and 2030 are expanding transportation sectors and rising vehicle production worldwide. The market is expanding as a result of varied regulatory frameworks and fiscal incentives supported by governments worldwide.
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Drivers:
Increasing use of biofuels in the transportation sector
Rising need for clean and effective fuel
Restraints:
Increasing number of electric vehicles produced
The market's rising demand for electric automobiles
The global COVID-19 pandemic has caused a shortage of items, mostly because manufacturing facilities in Asia-Pacific, Europe, and North America have reduced their working capabilities. Additionally, the disruption in the raw material supply and the fluctuation in prices are posing a severe challenge to the manufacturers. The market for biofuel additives has been impacted by producers ceasing production at their facilities and a reduction in demand from automakers. Additionally, the businesses are making a concerted effort to protect the health and wellbeing of their workers while also aiding in government efforts to sustain vital industries like healthcare, food manufacturing, and electricity generation.
The market for biofuel additives has been divided into categories according on product type, including detergents, corrosion inhibitors, lubricity improvers, octane, cetane, and cold flow improvers, colours & markings, and others. Because antioxidants are widely used as gasoline additives, they held the greatest market share in 2020. It aims to lower dangerous engine emissions.
Diesel fuel additives, heavy fuel oil additives, shipping fuel additives, gasoline fuel additives, and others make up the Biofuel Additives Market according to Application.
During the assessment period, the market for diesel fuel additives stood out as having the fastest growth.
By Product Type
Antioxidants
Detergents
Lubricity Improvers
Corrosion Inhibitors
Octane, Cetane & Cold Flow Improvers
Dyes & Markers
Others
By Application
Diesel Fuel Additives
Heavy Fuel Oil Additives
Shipping Fuel Additives
Gasoline Fuel Additives
Others
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Asia-Pacific, North America, Europe, Latin America, the Middle East & Africa, and the Benelux have all been examined for the biofuel additives market. In 2020, Asia-Pacific accounted for more than 35% of the global market for biofuel additives. The key players in the Asia-Pacific region are employing a variety of business tactics, including as R&D, expansions, the introduction of new products, joint ventures, acquisitions, and partnerships, to strengthen their position in the market. For instance, BASF announced an investment in the new mobile emissions catalysts production facility in Shanghai, China, in December 2022. This investment is anticipated to increase market demand in the Chinese market. The strict emission control laws in western Europe and the region's rising automotive and transportation industry are both factors that have contributed to the market expansion in the European region.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Chemiphase Ltd. (UK), BASF SE (Germany), Chevron Oronite Company LLC (US), Fuel Quality Services, Inc. (FQS) (US), Infineum (UK), Biofuel Systems Group Ltd. (UK), The Lubrizol Corporation (US), NALCO (India), Afton Chemical (US), Evonik Industries AG. (Germany), Clariant AG (Switzerland).
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 16.54 Billion |
| Market Size by 2030 | US$ 49.40 Billion |
| CAGR | CAGR of 14.8% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product Type (Antioxidants, Detergents, Lubricity Improvers, Corrosion Inhibitors, Octane, Cetane & Cold Flow Improvers, Dyes & Markers, Others) • By Application (Diesel Fuel Additives, Heavy Fuel Oil Additives, Shipping Fuel Additives, Gasoline Fuel Additives, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Chemiphase Ltd. (UK), BASF SE (Germany), Chevron Oronite Company LLC (US), Fuel Quality Services, Inc. (FQS) (US), Infineum (UK), Biofuel Systems Group Ltd. (UK), The Lubrizol Corporation (US), NALCO (India), Afton Chemical (US), Evonik Industries AG. (Germany), Clariant AG (Switzerland). |
| Key Drivers | • Increasing use of biofuels in the transportation sector. • Rising need for clean and effective fuel. |
| RESTRAINTS | • Increasing number of electric vehicles produced. • The market's rising demand for electric automobiles |
Ans: The global COVID-19 pandemic has caused a shortage of items, mostly because manufacturing facilities in Asia-Pacific, Europe, and North America have reduced their working capabilities. Additionally, the disruption in the raw material supply and the fluctuation in prices are posing a severe challenge to the manufacturers. The market for biofuel additives has been impacted by producers ceasing production at their facilities and a reduction in demand from automakers. Additionally, the businesses are making a concerted effort to protect the health and wellbeing of their workers while also aiding in government efforts to sustain vital industries like healthcare, food manufacturing, and electricity generation.
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Increasing number of electric vehicles produced and The market's rising demand for electric automobiles are the restraints for Biofuel Additives Market.
Ans: Increasing use of biofuels in the transportation sector and Rising need for clean and effective fuel are the drivers for Biofuel Additives Market.
Ans: Biofuel Additives Market size was valued at USD 14.41 billion in 2021, and expected to reach USD 37.8 billion by 2028, and grow at a CAGR of 14.8 % over the forecast period 2022-2028.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Biofuel Additives Market Segment, By Product Type
8.1 Antioxidants
8.2 Detergents
8.3 Lubricity Improvers
8.4 Corrosion Inhibitors
8.5 Octane, Cetane & Cold Flow Improvers
8.6 Dyes & Markers
8.7 Others
9.Biofuel Additives Market Segment, By Application
9.1 Diesel Fuel Additives
9.2 Heavy Fuel Oil Additives
9.3 Shipping Fuel Additives
9.4 Gasoline Fuel Additives
9.5 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11. Company Profile
11.1 Chemiphase Ltd. (UK),
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 BASF SE (Germany)
11.3 Chevron Oronite Company LLC (US)
11.4 Fuel Quality Services, Inc. (FQS) (US)
11.5 Infineum (UK)
11.6 Biofuel Systems Group Ltd. (UK)
11.7 The Lubrizol Corporation (US)
11.8 NALCO (India)
11.9 Afton Chemical (US)
11.10 Evonik Industries AG. (Germany)
11.11 Clariant AG (Switzerland)
12.Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share analysis
12.3 Recent Developments
13. Conclusion
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