The biofuel additives market has grown tremendously in the recent past due to increase in acceptance and performance of first and second generation biofuels globally. Second generation fuels are at early commercial stage, with major existence in the U.S. and Europe.
A complete and wide-ranging evaluation of the aspects that drive and restrain the market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.
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The global market is expected to garner $12,560 million by 2022, registering a CAGR of 15.3% during the period 2016-2022.
The report helps clients in comprehending the first-hand knowledge of the global market while providing a full-fledged understanding of the regional-level analysis of each segment. At the same time, the study contain in-depth information of the frontrunners that are active in the industry along with their financial agenda, segmental profits, company trends, services/products offerings, and major adopted stratagems.
Additives are added to address the problems encountered by biofuels that include corroded fuel systems, enhanced fuel foaming, and increased wax formation at lower temperature. They are added during different stages of the products lifecycle, such as at refineries, during transit, at terminals, and at the end user stage.
The Biofuel additives market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.
The detergents & dispersants segment occupied major share of the overall biofuel additives market and is expected to maintain its lead throughout the analysis period. This is because detergents & dispersants prevent the formation of vehicle deposits by casing the surface of the combustion chamber and the fuel supply system.
Biofuel additives Companies Covered Market:- 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 and Other.
Analysis of COVID-19 impact
The outbreak of the pandemic has had a massive impact on the majority of industries and the Biofuel additives market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Biofuel additives market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis is also covered under the report. Last but not the least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.
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