Octane Improver Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023
Octane improver is a fuel additive use to improve the efficiency of the fuel and enhance its quality as well. Octane improver comes under oxygenate category, as it increase gasoline's octane rating or act as corrosion inhibitors or lubricants. This helps in maintaining higher compression ratios for greater efficiency and power.
The octane improvers market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology, wherein our industry experts and panel of primary participants helped in compiling the best quality with realistic parametric estimations. Further, the participation share of different categories of primary participants is given below:
Key Market Insights
This technology created a revolution in fuel and its storage industry as this has provided a long-term benefit at low cost. The increasing concern toward environment protection, where fuel consumption is a major issue, provides a promising growth potential for the octane improver market, that has the maximum demand. The market has an advantage of its properties, that helps in increasing its fuel efficiency, and environment improvement. The high demand for this is coming from the US and European countries for the advanced technologies in passenger vehicles. This gives North America a lead in the global octane improver market. Apart from this, European countries are also developing high demand, following North America, owing to the higher consumer acceptance and high demand from the automotive and marine sector. Asia Pacific followed Europe and accounts for the third largest market for octane improver with the presence of large petrochemical industry and the presence of big Chinese market.
Within various end-user areas, automotive is highly dominating the market in overall octane improver across regions owing to the high adoption rate and presence of large consumer base. Other than automotive, the marine & aviation industry is also increasing its market during the forecast period due to increasing investments and R&D innovations along with government interventions.
The study of the global octane improver market provides market size information and market trends along with the factors and parameters impacting the market in both short- and long-term. The study ensures a 360° view, bringing out the complete key insights of the industry. These insights help the business decision-makers to make better business plans and informed decisions for the future business. In addition, the study helps venture capitalists in understanding the companies better and take informed decisions.
According to Infoholic Research, the global octane improver market is expected to grow at a CAGR of 7.5% during the forecast period 2016–2022 to reach $480.8 million by 2023. Ethanol and MTBE types are expected to remain as main additive type, during the forecast period. Some of the key players in the octane improver market are Valero Renewables fuels, Dorf Ketal Fuels, LyondellBasell Industries, BP Plc, BASF SE etc.
• Additive Types
o Marine & Aviation
o North America
o Asia Pacific
o Rest of the World
• Industry outlook: Market trends, drivers, restraints, and opportunities
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