Refinery Fuel Additives Market Set to Reach USD 14330 Million by 2026
According to the report, The global refinery fuel additives market in 2019 was approximately USD 9108 Million. The market is expected to grow at a CAGR of 7.2% and is anticipated to reach around USD 14330 Million by 2026.
Fuel additives are compounds which enhances the quality and efficiency of fuels used in vehicles. They increase a fuel’s octane rating and it inhibits corrosion and lubricants, thus allowing the use of higher compression ratios for greater efficiency and power. This increases fuel performance, Navigate across broad regulatory requirement and fulfill distillate fuel specifications.
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The refinery fuel additives market research report delivers an acute valuation and taxonomy of the refinery fuel additives industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the refinery fuel additives industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the refinery fuel additives industry is provided for the leading economies of the world.
The global refinery fuel additives market has been segmented based on type and application. Based on type, the market is segmented into Cetane number improvers, antioxidants, anticorrosion, cold flow improvers, antiknock agents, scavengers, octane improver, deposit control, lubricity additives, and others. Based on application, the market is segmented into diesel, gasoline, aviation fuel production, and middle distillates production.
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Some of the essential players operating in the refinery fuel additives market, but not restricted to include Lubrizol Corporation, Chevron Oronite, Afton Chemicals, ExxonMobil, LanXess, Innospec, Dorf Ketal, Total Power, STP, Gold Eagle, and Lubrita amongst others.
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