The Asia Pacific Fuel Additives Market is estimated to grow at a CAGR of 8% during the forecast period, (2017 - 2022). The market value is projected to reach $2,384.64 million by 2020. The major driving factors in this region are the rapid development of the trucking fleet and the growing industrial and transportation activity that has resulted in increasing demand for additives.
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Currently, North America represents largest business in the fuel additives market. However, the market in this region will slip to second position behind the Asia Pacific in the next five years.
Asia Pacific will show the highest growth rate during the forecast period, driven predominantly by increasing fuel demand from developing economies such as India and China.
Fuel additives are used to make motor vehicle functions more efficient.
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The benefits of fuel additives include superior engine performance and increased power, both of which allow drivers to travel further than they could on basic gasoline.
Apart from these qualities, the fuel additives also work towards reduction of corrosive effects and enhancing combustion properties. Different grades of fuel blends are being widely used in various industrial sectors including commercial, automotive, industrial, and aerospace.
Rigorous environmental regulations, increasing demand for clean and efficient fuel, and depleting crude reserves are the main drivers in this market.
Volatile raw materials prices and huge investment in new material research activities are the major challenges faced by the industry players.
SPECIALITIES OF THIS REPORT
- The report will be useful in gaining an exhaustive understanding of the regional market for fuel additives. It will also be of assistance in providing a comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade
- The report will be an ideal source material for industry consultants, fuel additives manufacturers and other interested as well as allied parties to gain a critical insight into the factors driving and restraining the market, in addition to opportunities offered.
- The report contains a wide range of information about the leading market players and the major strategies adopted by them.
WHAT THE REPORT OFFERS
- Market Definition for the specified topic along with identification of key drivers and restraints.
- Market analysis for the Fuel Additives market, with region specific assessments and competition analysis on a global and regional scale.
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their market shares.
- Identification and analysis of the Macro and Micro factors that affect the fuel additives market on both global and regional scale.
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