DUBLIN, July 01, 2015 /PRNewswire/ --
Research and Markets(http://www.researchandmarkets.com/research/pphbsx/global_diesel) has announced the addition of the "Global Diesel Fuel Additives Market by Type and by Geography - Analysis & Forecast to 2019" report to their offering.
The global diesel additives market was valued at $3,717.7 million in 2014 and is projected to grow at a CAGR of 7.3% from 2014 to 2019. The market was led by the deposit control additives segment in 2014, among types, with a 36.4% share. The North American region is a key market for diesel additives, globally.
Fuel additives are chemicals that are used to enhance the properties of a fuel. These are mixed with fuels such as gasoline, diesel, aviation fuel, fuel oil, and so on to improve fuel efficiency and economy. Fuel additives help fuels in meeting environmental emission control standards and improve engine or vehicle performance. Apart from these qualities, fuel additives serve other purposes such as reduction of corrosive effects, enhancement of combustion properties, and development of various grades of fuel blends required for the commercial, automotive, industrial, and aerospace sectors.
The global diesel fuel additives market is witnessing steady growth on account of increasing applications, technological advancements, and the growing demand from the end-user industries. Diesel additives are the largest application of fuel additives. Fuel additives are designed to meet the increasingly stringent environment norms as several countries are implementing regulations to control emissions. Stringent environmental regulations, increasing demand for clean and efficient fuel, and depleting crude reserves are the main market drivers for the fuel additives market. The diesel additives market is witnessing an increase in demand due to the increasing consumption of Ultra-Low-Sulfur Diesel (ULSD), which requires more dosing of additives.
The volume of the global diesel additives market was recorded at 872.2 KT in 2014 and is estimated to grow at a CAGR of 4.0% from 2014 to 2019. The North American region dominated the diesel additives market in 2014, having accounted for 27.1% of the global consumption. The growing demand from end-user markets in this region is among the major factors driving the growth of the diesel additives market in North America.
The key players in the global diesel additives market include Afton Chemical (U.S.), Albemarle Corp. (U.S.), Chevron Oronite (U.S.), Infineum International Inc. (U.K.), Fuel Performance Solutions, Inc. (U.S.), and The Lubrizol Corporation (U.S.), among others.
All Companies Mentioned
- Afton Chemical Corporation
- BASF SE
- Cerion Energy
- Chemtura Corporation
- Chevron Oronite Incorporation
- Cummins Incorporation
- Dorf-Ketal Chemicals India Private Limited
- Fuel Performance Solutions Incorporation
- The Lubrizol Corporation
- Total SA
For more information visit http://www.researchandmarkets.com/research/pphbsx/global_diesel
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