Biofuel Additives Market: By Application (Transportation fuel, Municipal electricity production, On-site electricity production and Others); By Product Type (Antioxidants, Detergents, Lubricity Improvers, Corrosion Inhibitors, Octane, Cetane & Cold Flow Improvers, Dyes & Markers, And Others); , And Region – Global Analysis of Market Size, Share & Trends For 2019–2020 And Forecasts To 2031
Biofuel Additives Market: By Application (Transportation fuel, Municipal electricity production, On-site electricity production and Others); By Product Type (Antioxidants, Detergents, Lubricity Improvers, Corrosion Inhibitors, Octane, Cetane & Cold Flow Improvers, Dyes & Markers, And Others); And Region – Global Analysis of Market Size, Share & Trends For 2019–2020 And Forecasts To 2031
PRODUCT OVERVIEW
Biofuel Additives to surpass USD 32.1 billion by 2031 from USD 12 billion in 2021 at a CAGR of 14.3% in the coming years, i.e., 2021-31.
Biofuel is a natural gas, liquid or solid source such as fuel-fueled plants. It comes as plants or animal waste from renewable biological sources; in particular, liquid fuel for car engines made of corn or soya oil. Biofuels could obtain from field products, forest products, farm, fishing products or municipal waste, including by-products and waste from agricultural production, food industry and food services. Biofuel additives are special compounds that improve engine performance, reduce brake specific fuel consumption (BSFC), and enhance biofuel characteristics. They are made from either conventional or lignocellulosic feedstock, and they play a key role in meeting international fuel standards. Because of their high oxygen concentration, biofuel additives such as methanol, diethyl ether, ethanol, and n-butanol are commonly utilised as biodiesel additives. Biodiesel mixes with biofuel additives increase combustion stability and characteristics. Antioxidant compounds are responsible for the decrease of NOX emissions.
MARKET HIGHLIGHTS
Global Biofuel Additives to surpass USD 32.1 billion by 2031 from USD 12 billion in 2021 at a CAGR of 14.3% in the coming years, i.e., 2021-31. Increasing awareness of the tenuous effect of greenhouse gas (GHG) emissions into the environment should help in the growing installation of plants producing biomass worldwide. Biofuel additives production aids in eliminating the problem of dumpsites and landfills which are expected to have an optimistic impact on Biofuels additives demand. The sector incorporates significant opportunities for future growth as the market is expected to transpire as a replacement for traditional fuels, including diesel and petrol. In addition to a renewable energy source, the amount of carbon in the biofuel additives is less. It emits fewer greenhouse gases which are expected to boost demand for Biofuels as a replacement for fossil fuels.
Biofuel Additives Market Segments:
- By Application
- Transportation fuel
- Municipal electricity production
- On-site electricity production
- Others
- By Product type
- Antioxidants
- Detergents
- Lubricity improvers
- Corrosion inhibitors
- Octane
- Cetane & cold flow improvers
- Dyes & markers
- Others
MARKET DYNAMICS
Growth Drivers
Cheaper Substitute to Conventional Sources
Demand for clean and green fuel
Restraint
Huge Installation Costs
Key Players
- BASF SE
- Ebara Corp.
- WELTEC Biopower
- ADI Systems
- Kruger USA
- Republic Services
- CH4 Biofuels LLC
- Scandinavian Biofuels Fuels International AB
- Pressure Technologies Plc
- Cryostar SAS
- Other Prominent Players
(Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Global Laboratory Temperature Control Units Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Reasons to Purchase this Report
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight into the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years to come
- 3-month post-sales analyst support.
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