Aviation Fuel Additives Market is Expected to Reach $808.2 Million by 2019, at a CAGR of 6.7% From 2014 to 2019
By PRN NewsWire
By PRN NewsWire
FORT WORTH ,Texas, May 27, 2015 /PRNewswire/ —
The global aviation fuel additive market was valued at $579.5 million in 2014 and is estimated to reach $808.2 million by 2019, at a CAGR of 6.7% during the period under consideration.
Browse through the TOC of Aviation Fuel Additives Market for an analysis of industry trends and segments, with the help of various tables and figures.
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Aviation fuel is a specialized type of petroleum-based fuel (actually propellant) used to power aircrafts. It is generally of a higher quality than fuels used in less critical applications, such as heating or road transport, and often contains additives to reduce the risk of icing or explosion due to high temperature, among other properties. Additives may be included in aviation fuels to improve fuel performance – generally by eliminating undesirable effects – or to meet specific requirements of certain aircraft or airline operators. They are added in quantities that are often only measurable in parts per million.
Stringent environmental regulations; increasing demand for clean and efficient fuel; rapid increase in aircraft manufacturing; and depleting crude reserves are the main market drivers for the global aviation fuel additives market. The aviation fuel additives market has been witnessing an increase in demand in recent years, mainly owing to the rapid increase in aircraft manufacturing, which requires more dosing of additives.
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New product developments and expansions are among the key strategies adopted by the market players to accelerate their growth in the global aviation fuel additives market. The manufacturing companies, associations, and end-product manufacturers infuse high investments for future advancements and technology modifications of aviation fuel additives to match the new demands coming from various end-user industries.
The Asia-Pacific is the largest region, both in terms of volume and value, followed by North America, Europe, Middle East & Africa, and South America. Afton Chemicals (U.S.), Albemarle Corp. (U.S.), Chemtura Corporation (U.S.), BASF SE (Germany), and The Lubrizol Corporation (U.S.), among others, are the key players in the global market.
The Diesel Additives Market is experiencing enormous growth and it is expected to continue in the coming years, mainly driven by the growth in regions, such as North America Asia-Pacific, and Europe. A considerable amount of investments are being made by various market players to serve the end-user industries in the future.
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