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Description
The global Fuel Additives Market size was estimated at USD 6.6 Bn in 2021, growing at a CAGR of 3.8% during the forecast period 2021-2027. The fuel additives enhance the performance of engine for flexible use of vehicles. In seasonal variations, problems of fuel freezing, anti-knocking, corrosion is observed in the vehicles. The need for the fuel additives increased the demand in the application industries. Fuel additives should be used in small concentrations only. It is available in small ppm and several thousand ppm. The additives used should not affect other fuel components and quality of fuel. Fuel additives functions as Anti freezing agents, Anti Knocking agents, Anti- Oxidants, biocides, Anti valve additives and so on. In November 2017 – Agreement between Eni SpA and major car manufacturer FCA to reduce CO2 emissions. The Fuel Additives Market report covers exhaustive regional information, that includes North America (the USA and Canada), Europe (Germany, France, Italy, UK, Spain, Russia, Poland and Rest of Europe), Asia-Pacific (Japan, China, India, Australia & New Zealand, ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others), South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentian, Venezula, and Rest of Latin America), and Middle East and Africa (Gulf Cooperation Council (GCC) Countries, Israel, South Africa, and Rest of Middle East and Africa).
Key Developments:
On May 23, 2022, NYK and Nippon Yuka Kogyo Co., Ltd, have jointly developed a new fuel-oil additive effective in dispersing sludge & reduce the fule consumption in very low sulfur fuel oil |VLSFO. The companies have been researching the properties of VLSFO as one of the measures to comply with SOx emission requirements & in 2019 developed sludge dispersing fuel oil additive Yunic 800 VLS.
On March 09, 2022, Innospec, Inc., expands it’s customer technical support with new fuel technology center in Ellesmere Port, UK. With this new technology center, the company will offer first class support and fuel treatment solutions to customers which improve efficiency, boost engine performance and reduce harmful emissions.
