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Biofuel Additives Market: By Application (Transportation fuel, Municipal electricity production, On-site electricity production and Others); By Product Type (Antioxidants, Detergents, Lubricity Improvers, Corrosion Inhibitors, Octane, Cetane & Cold Flow Improvers, Dyes & Markers, And Others); , And Region – Global Analysis of Market Size, Share & Trends For 2019–2020 And Forecasts To 2031
Biofuel Additives to surpass USD 32.1 billion by 2031 from USD 12 billion in 2021 at a CAGR of 14.3% in the coming years, i.e., 2021-31.
Biofuel is a natural gas, liquid or solid source such as fuel-fueled plants. It comes as plants or animal waste from renewable biological sources; in particular, liquid fuel for car engines made of corn or soya oil. Biofuels could obtain from field products, forest products, farm, fishing products or municipal waste, including by-products and waste from agricultural production, food industry and food services. Biofuel additives are special compounds that improve engine performance, reduce brake specific fuel consumption (BSFC), and enhance biofuel characteristics. They are made from either conventional or lignocellulosic feedstock, and they play a key role in meeting international fuel standards. Because of their high oxygen concentration, biofuel additives such as methanol, diethyl ether, ethanol, and n-butanol are commonly utilised as biodiesel additives. Biodiesel mixes with biofuel additives increase combustion stability and characteristics. Antioxidant compounds are responsible for the decrease of NOX emissions.
Global Biofuel Additives to surpass USD 32.1 billion by 2031 from USD 12 billion in 2021 at a CAGR of 14.3% in the coming years, i.e., 2021-31. Increasing awareness of the tenuous effect of greenhouse gas (GHG) emissions into the environment should help in the growing installation of plants producing biomass worldwide. Biofuel additives production aids in eliminating the problem of dumpsites and landfills which are expected to have an optimistic impact on Biofuels additives demand. The sector incorporates significant opportunities for future growth as the market is expected to transpire as a replacement for traditional fuels, including diesel and petrol. In addition to a renewable energy source, the amount of carbon in the biofuel additives is less. It emits fewer greenhouse gases which are expected to boost demand for Biofuels as a replacement for fossil fuels.
Global Biofuel Additives Market is fragmented by application into transportation fuel, municipal electricity production, on-site electricity production and others. The rising demand for electricity generation from Biofuels is driving the global Biofuel Additives market. The rapid development and globalization has urged the demand for green electricity. Moreover various government drives for green electricity has led to growth of this segment.
Global Biofuel Additives market is segmented by product type into antioxidants, detergents, lubricity improvers, corrosion inhibitors, octane, cetane & cold flow improvers, dyes & markers, and others. Due to its widespread application in gasoline additives, the antioxidant sector held the biggest market share in 2020. Its goal is to reduce dangerous engine emissions.
Cheaper Substitute to Conventional Sources
Increasing awareness of the tenuous effect of greenhouse gas (GHG) emissions into the environment should help in the growing installation of plants producing biomass worldwide. Biofuel additives production aids in eliminating the problem of dumpsites and landfills which are expected to have an optimistic impact on Biofuels additives demand. The sector incorporates significant opportunities for future growth as the market is expected to transpire as a replacement for traditional fuels, including diesel and petrol. In addition to a renewable energy source, the amount of carbon in the biofuel additives is less. It emits fewer greenhouse gases which are expected to boost demand for Biofuels as a replacement for fossil fuels.
Demand for clean and green fuel
The demand for clean and efficient fuel, the declining quality of crude oil, and the growing automotive industry, which is intending for cleaner and greener fuel sources due to stringent emission regulations, especially in Europe and China, are all factors favouring the growth of the Biofuel Additives Market. Methane (CH4), carbon dioxide (CO2), fluorinated gases (perfluorocarbons, hydrofluorocarbons, nitrogen trifluoride, and sulphur hexafluoride), and nitrous oxide are the principal sources of greenhouse gases (N2O). Due to the use of fossil fuels such as natural gas, oil, and coal, the transportation industry also contributes to CO2 emissions.
Huge Installation Costs
Huge installation cost and large gestation period, i.e., gap between installation and commencement of the plant is seen as one of the factors hindering the growth of the Biofuels additives market.
(Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Global Biofuel Additives market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America's share of the world biofuels additives is largest because of its government-widened supporting policies, such as the government's tax benefits. Because of its strong policies and incentives in the development, use and study of new alternative fuel technologies, the US is the worldwide leader for biodiesel additives. South America is America's second-largest biofuel additives manufacturer. Higher oil prices and higher oil consumption are among the key drivers of biofuels in Brazil’s growth.
Europe is the second-most market-leading region after Asia Pacific. Germany, Italy, France and Switzerland are major Biofuels additives -producing countries in the European region. In the European Biofuels Association, several European countries work together whose directives are to curb carbon emissions. Additionally, other countries like Belgium, Slovakia, Hungary, and the Czech Republic are reinforcing their Biofuels additives production levels.
The global covid–19 epidemic has resulted in a shortage of products, owing to reduced operational capacities in industrial sites throughout Asia-Pacific, Europe, and North America. Furthermore, manufacturers are facing significant challenges due to disruptions in raw material supply and pricing fluctuations. The Biofuel Additives Market has been impacted by producers shutting down or ceasing operations, as well as a drop in demand from car manufacturers. Furthermore, the corporations are working hard to protect their employees' health and well-being while also assisting the government in maintaining key commercial activities such as power generation, food manufacturing, and healthcare.
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Report Attribute |
Details |
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Market size value in 2021 |
USD 12 billion |
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Revenue forecast in 2031 |
USD 32.1 billion |
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Growth Rate |
CAGR of 14.3% from 2021 to 2031 |
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Base year for estimation |
2021 |
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Quantitative units |
Revenue in USD million and CAGR from 2021 to 2030 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Product Type, Application and Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key companies profiled |
Ebara Corp., WELTEC Biopower, ADI Systems, Kruger USA, Republic Services, CH4 Biofuels LLC, Scandinavian Biofuels Fuels International AB, Pressure Technologies Plc, Cryostar SAS and Other Prominent Players |
Biofuel Additives market size was estimated at USD 12 billion in 2021 and is expected to reach USD 32.1 billion in 2031.
Biofuel additives are special compounds that improve engine performance, reduce brake specific fuel consumption (BSFC), and enhance biofuel characteristics. They are made from either conventional or lignocellulosic feedstock, and they play a key role in meeting international fuel standards.
Municipal Electricity production segment accounted for the largest Biofuel Additives market share.
Key players: Ebara Corp., WELTEC Biopower, ADI Systems, Kruger USA, Republic Services, CH4 Biofuels LLC, Scandinavian Biofuels Fuels International AB, Pressure Technologies Plc, Cryostar SAS Other Prominent Players
The demand for clean and efficient fuel, the declining quality of crude oil, and the growing automotive industry, which is intending for cleaner and greener fuel sources due to stringent emission regulations.
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