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Biofuel Additives Market

Biofuel Additives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Biofuel Additives Market

Biofuel additives refers to a type of chemical recognized in the industry as specialty chemicals that enhance the efficacy of biofuels like ethanol, biodiesel, and others. Unlike traditional fuels such as diesel and gasoline, biodiesel has a tendency to oxidize as quickly as it is generated, thereby necessitating the use of additives to mitigate the problems. The global biofuel additives market has grown substantially in the recent years. This is due to the strong performance and growing awareness of first as well as second generation biofuels across the world. Biofuel additives are crucial in addressing a number of challenges related to the utilization of biofuels in internal combustion engines (IC engines). These issues comprise corrosion, tendency of high foaming, and low oxidation stability.

In the near future, the global biofuel additives market is projected to be propelled by increased use of biofuels as well as additives in the power, energy, aviation, automotive, and marine sectors. The demand for biofuels is expected to rise as people become more conscious about the negative effects of fossil fuels on the environment. In the foreseeable future, the gradual shift of the car industry to green mobility is projected to increase demand for biofuels, which is likely to augur well for the market.

Biofuel Additives: Introduction

  • Biofuels are synthesized from conventional feedstock or lignocellulosic feedstock. Biofuel additives are specialty chemicals that are used to enhance biofuel properties, improve engine performance, and reduce brake specific fuel consumption (BSFC). They play a crucial role in meeting international fuel standards. Biofuel additives such as ethanol, diethyl ether, n-butanol, and methanol are commonly used as biodiesel additives due to their high oxygen content. Biofuel additives in biodiesel blends have been found to improve combustion characteristics and combustion stability. Addition of anti-oxidant additives has also been responsible for the reduction of NOx emissions.
  • The biofuel additives market is directly associated with the production of biofuels. In contrast to traditional gasoline and diesel fuel, biodiesel oxidizes as soon as it is produced. This leads to the need for additives that help solve the complications related to it. Biofuel additives are added in order to address the issues encountered by biofuels including corroded fuel systems, enhanced fuel foaming, and increased wax formation at lower temperature. They are added during different stages of the product's lifecycle. For instance, they are added at refineries, during transit, at terminals, and at the end-user stage.

Key Drivers and Restraints of Global Biofuel Additives Market

  • The biofuel additives market has developed significantly of late. This can be primarily ascribed to the high performance and increasing recognition of first and second generation biofuels globally. Biofuel additives play an important role in addressing several issues associated with the use of biofuels in IC engines such as low oxidation stability, high foaming tendency, and corrosion. Rise in usage of biofuels and additives in automotive, marine, aviation, and energy and power sectors is expected to propel the biofuel additives market during the forecast period. Growth in awareness about the impact of fossil fuel on the planet is anticipated to drive the demand for biofuels. The gradual transition of the automobile sector to green mobility is also expected to drive the demand for biofuels in the near future.
  • Rise in demand for biofuels is expected to create significant opportunities for the biofuel additives market. Countries dependent on oil import are striving to become self-sufficient by promoting the use of renewable energy sources such as biodiesels and ethanol. This is anticipated to boost the demand for biofuel additives during the forecast period.

Biofuel Additives: Product Type Segment

  • In terms of product type, the global biofuel additives market can be segmented into cetane improvers, lubricity improvers, demulsifiers, cold flow improvers, corrosion inhibitors, dyes & markers, antioxidants, octane improvers, detergents & dispersants, and others
  • The cetane improvers segment is expected to account for significant share of the global biofuel additives market during the forecast period. It is anticipated to be followed by the lubricity improvers segment.
  • The demulsifiers segment is likely to expand at a rapid pace during the forecast period, due to the expansion of the automotive industry around the globe

Biofuel Additives: Application Segment

  • In terms of application, the global biofuel additives market can be segmented into diesel fuel additives, heavy fuel oil additives, shipping fuel additives, gasoline fuel additives, and others
  • The gasoline fuel additives segment is estimated to expand at a rapid pace during the forecast period
  • The heavy fuel oil additives segment is likely to expand at a healthy CAGR during the forecast period, owing to the increase in usage of paints and coating in heavy commercial vehicles

Covid-19 Impact on Biofuel Additives Market

  • On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
  • Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
  • Manufacturing of various consumer goods and other products across the globe has come to a halt due to the unavailability of raw materials, shortage of labor, and other reasons. This is expected to hamper the biofuel additives market.

Asia Pacific to Dominate Biofuel Additives Market

  • In terms of region, the global biofuel additives market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America dominated the biofuel additives market in 2020. This trend is anticipated to continue during the forecast period. This can be ascribed to the higher production and consumption of biofuels, especially in the U.S. However, the biofuel additives market in Asia Pacific is anticipated to expand at a rapid pace owing to the increase in demand for biofuels in emerging countries such as China and India.

Key Manufacturers Operating in Global Biofuel Additives Market

The global biofuel additives market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global biofuel additives market include:

  • Chemiphase Ltd.
  • E-ZOIL Products, Inc.
  • Infineum
  • Chevron Oronite Company LLC
  • The Lubrizol Corporation
  • OBR Joint Stock Company
  • Afton Chemical
  • Biofuel Systems Group Ltd.
  • Fuel Quality Services, Inc. (FQS)
  • Clariant AG
  • Eastman Chemical Company
  • Evonik Industries AG.

Global Biofuel Additives Market: Research Scope

Global Biofuel Additives Market, by Product Type

  • Cetane Improvers
  • Lubricity Improvers
  • Demulsifiers
  • Cold Flow Improvers
  • Corrosion Inhibitors
  • Dyes & Markers
  • Antioxidants
  • Octane Improvers
  • Detergents & Dispersants
  • Others

Global Biofuel Additives Market, by Biofuel Type

  • Biodiesel
  • Bioethanol

Global Biofuel Additives Market, by Application

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

Global Biofuel Additives Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
Biofuel Additives Market

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