Fuel Additives Market worth $7.1 billion by 2026 - Exclusive Report by MarketsandMarkets

CHICAGO, July 21, 2021 /PRNewswire/ -- According to the new market research report "Fuel Additives Market by Type (Deposit Control, Cetane Improvers, Lubricity Improvers, Cold Flow Improvers, Stability Improvers, Octane Improvers, Corrosion Inhibitors), Application (Diesel, Gasoline, Aviation Fuel) - Global Forecast to 2026", published by MarketsandMarkets, the Fuel Additives Market is projected to reach USD 7.1 billion by 2026, at a CAGR of 3.4% from USD 6.0 billion in 2021.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=723

Browse in-depth TOC on "Fuel Additives Market"

361 – Tables
66 – Figures
303 – Pages

View Detailed Table of Content Here: https://www.marketsandmarkets.com/Market-Reports/fuel-additives-market-723.html

Fuel additives are chemicals that are used to improve the efficiency of fuel. These additives help fuels in meeting emission control standards and improve engine or vehicle performance. Apart from these functions, fuel additives also help in the reduction of corrosion and enhance combustion in various applications in commercial, automotive, industrial, and aerospace sectors. These can be categorized into ten types- deposit control additives, cetane improvers, lubricity improvers, cold flow improvers, stability improvers, octane improvers, corrosion inhibitors, anti-icing fuel additives, dyes & markers and others. Deposit control additives had a larger share in terms of value in 2020 as compared to cetane improvers and others.

Diesel is the largest application segment of the fuel additives market. North America was the largest market for fuel additives in 2020, in terms of value. Factors such as stringent governmental regulations and increase in automotive production in emerging economies will drive the fuel additives market.

"Lubricity improvers is estimated to be the fastest-growing type in the fuel additives market for the forecast period"

Lubricity improver fuel additives are added to improve the lubricity of hydro-treated diesel fuels. These additives contain a polar group that is attracted to metal surfaces, which helps to form a thin surface film. The film acts as a boundary lubricant when two metal surfaces come in contact. Most ULSD fuels contain a lubricity additive that is used to meet the various lubricity specifications. As sulfur is a natural lubricant, its reduction in the fuel necessitates the usage of lubricity improvers.