Global Biofuel Additives Market Report 2023: Government Initiatives Fuel Demand for Eco-Friendly Biofuel Additives - Forecasts to 2028

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Nov 09, 2023, 11:00 ET

DUBLIN, Nov. 9, 2023 /PRNewswire/ -- The "Biofuel Additives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global biofuel additives market size reached US$ 16.8 Billion in 2022. Looking forward, the market is set to reach US$ 26.1 Billion by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028.

Biofuel additives have a wide range of applications, including as emulsifiers, antioxidants, octane improvers, corrosion inhibitors, cetane improvers, dyes and markers, detergents, and dispersant variants.

These additives can be derived from lignocellulosic or conventional feedstock and exhibit specific properties such as density, viscosity, and solubility. Compared to traditional additives, biofuel additives have higher oxygen content, are cost-effective, non-toxic, and do not produce harmful chemicals.

The global automotive industry's significant growth is contributing to a positive market outlook. The increasing demand for biofuel additives on a global scale is primarily driven by their eco-friendly attributes, such as enhanced energy conservation, improved air quality, and reduced greenhouse gas emissions. Furthermore, technological advancements, such as the development of hydrodynamic cavitation techniques for more efficient biodiesel production, are bolstering market growth.

The market is also benefiting from the growing demand for low-emission engines and government initiatives aimed at sustainable development. Additionally, increased usage of biofuel additives in sectors like aviation, energy, power, and marine, along with rising awareness of the adverse effects of fossil fuels, is fostering a favorable market environment.

Key Questions Answered in This Report:

How has the global biofuel additives market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global biofuel additives market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the biofuel type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global biofuel additives market and who are the key players?
What is the degree of competition in the industry?

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being

Afton Chemical Corporation (NewMarket Corporation)
BASF SE
Biofuel Systems Group Ltd.
Chemiphase International Ltd.
Chevron Corporation
Clariant AG
Eastman Chemical Company
Evonik Industries AG
E-ZOIL
Fuel Quality Services Inc.
Infineum International Limited
The Lubrizol Corporation

Key Market Segmentation:

Breakup by Type:

Antioxidants
Corrosion Inhibitors
Cold Flow Improvers
Detergents and Dispersants
Octane and Cetane Improvers
Dyes and Markers
Others

Breakup by Biofuel Type:

Bioethanol
Biodiesel

Breakup by Application:

Diesel Fuel Additives
Heavy Fuel Oil Additives
Shipping Fuel Additives
Gasoline Fuel Additives
Others

Breakup by Region:

North America

United States
Canada

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

For more information about this report visit https://www.researchandmarkets.com/r/owey1c

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