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Gasoline Additives
Gasoline Additives Market to make a dominant expansion across various sectors at the helm of new environmental regulations
SEATTLE, WA, US, January 12, 2022 /EINPresswire.com / -- Gasoline Additives Market to make a dominant expansion across various sectors at the helm of new environmental regulations , Chemical compounds that improve the quality and efficiency of gasoline fuel used in automobile engines and other equipment are known as gasoline additives.
According to a report published in 2018 by the United States Energy Information Administration, the United States is one of the leading exporters of Methyl tert-butyl ether (MTBE), a type of fuel oxygenate. According to the same source, Mexico accounted for 66% of total MTBE exports in the United States in 2017.
Overview
Chemical additives have been added to gasoline for decades. These substances have multiple uses, from reducing drag to minimizing oxidation. Some types of fuel additives also contain antioxidants to boost the fuel's efficiency. The most common types of fuel additive are N, N-disalicylidene-l, and 2-propanediamine. These chemicals are usually three to four cents per gallon. A gas additive improves the quality of the fuel. Besides reducing emissions, these products can also enhance the durability and performance of a vehicle. These chemical compounds are not only effective at lowering gasoline's volatility, but they are safe to use. They can be easily added to fuel to increase its life and performance. Some are even made of biodegradable materials.
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Competitive Landscape
Major companies contributing to the global gasoline additives market include AkzoNobel N.V., The Dow Chemical Company, Chemtura Corporation, Lubrizol Corporation, BASF SE, Afton Chemical Corporation, Innospec Inc., Baker Hughes Incorporated, Evonik Industries AG, Huntsman Corporation, and Petroliam Nasional Berhad (Petronas).
Drivers
Imposition of strict environmental regulations amidst growing environmental concerns over rising greenhouse gases is expected to propel the growth of the gasoline additives market throughout the forecast period.
Furthermore, increasing use of fuel additives in advanced engines across the automotive sector is expected to further cushion the growth of the gasoline additives market over the forecast period.
Summary of the COVID-19 Debacle
The prevalence of the COVID-19 pandemic has created a hindrance to the expansion of the global gasoline additives market. The crisis-fueled suspension of shipments has resulted in supply chain logjams, thus, shortening the scope of the market. On the plus side, the market is observing a bounce-back season with the withdrawal of lockdowns.
Key Takeaways
The gasoline additives market is anticipated to grow at a CAGR of during the forecast period owing to increasing environmental regulations and rising investments in clean-tech solutions. For instance, in November 2021, the world's largest oil exporter, Saudi Aramco, announced plans to invest around US$ 10 billion in the Jafurah gas field, the largest shale gas reserve in Saudi Arabia.
In the cluster of regions, North America is cementing itself as one of the most lucrative territories for the global gasoline additives market on account of rapid adoption across the mining sector and a high number of shale gas reserves.
In parallel, the European region is another fertile ground for the global gasoline additives market in the view of robust automotive industry and growing applications in aerospace applications.
Market Taxonomy
On the basis of product type, the global gasoline additives market is segmented into:
Lubricity Improvers
Fuel-Line Antifreeze
Lead Anti-Knocking additives
Metal deactivators
Gasoline Stabilizers
Octane Boosters
Corrosion Inhibitors
Deposit Control
Others
On the basis of grade, the global gasoline additives market is segmented into:
Regular
Midgrade
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