Introduction: Aviation Fuel Additives Market
Fuel additives are one of the same compounds used to enhanced efficiency and quality of fuels during their combustion in vehicles leaving less carbon residues thereby checking knock-offs . Aviation fuel additives are those additives which are used to increase the octane number rating. Additionally, aviation fuel additives are used for higher compression ratio to achieve improved energy generated per unit of fuel combustion and also act as a corrosion inhibitor for the engine components. Aviation fuel is one of the specialized types of petroleum based fuel. Aviation fuel additives characteristics are usually higher than the other fuels used in much less crucial applications, such as transport, heating, etc., and often carries distinctive types of additives which is required to limit the danger of explosion due to high temperature or icing. High Purity of additives is covered in aviation fuels to enhance fuel overall performance by reducing undesirable effects.
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Market Dynamics: Aviation Fuel Additives Market
Aviation fuel additives market is expected to experience a positive growth in the coming assessment period. Global environmental regulations, growing air traffic and subsequent consumption of aviation fuel with efficient and environment friendly characteristics are some of the key factors are driving the demand of aviation fuel additives market. Additionally, the reducing level of crude oil reserves is also one of the key driver for the growth of the aviation fuel additives market in the coming forecast period. On the basis of opportunity front, expansion of production capacity and product development are some of the key strategies adopted by key manufacturers to accelerate the aviation fuel additives market growth for a long time. In order to meet the global demand, key manufacturers are planning to invest in aviation fuel additives market for future advancement. Manufacturing of environment friendly aviation fuel additives to reduce carbon footprint, fluctuating crude oil prices and dependency on single raw material are some of the key factor which is estimated to create challenge in aviation fuel additives market in the coming forecast period.
Based on the additive types, lubricity improver segment is experiencing significant growth and is expected to dominate the same in the coming assessment period. The growth is majorly driven by North America followed by the Asia Pacific and Western Europe region
Market Segmentation: Aviation Fuel Additives Market
Aviation Fuel Additives market is segmented on the basis of fuel type, additive type, and application
On the basis of fuel type, aviation fuel additives market segmented as
- Jet Fuel
On the basis of additive type, aviation fuel additives market segmented as
- Deposit Control
- Lubricity Improver
- Corrosion Inhibitor
On the basis of application, magnetic strip reader market segmented as
- Civil Aviation
Regional Outlook: Aviation Fuel Additives Market
Market dynamics of aviation fuel additives are expected to create more opportunities across the world owing to regional growth potential, rising investment in the aviation industry and growing GDP. The Asia Pacific is expected to dominate the aviation fuel additives market over the coming assessment period. Countries in the Asia Pacific such as, India and China has shown huge potential in the growth of aviation fuel additives owing to increasing investment and government initiative toward the aviation industry. On the basis of market volume share, North America holds the maximum share in 2018 and is expected to dominate the same in the coming future. Owing to stringent regulation of REACH in Europe region is expected to witness for moderate growth in between the forecast period. Emerging economics such as the Middle East & Africa and Latin America are expected to witness for weak growth as compared to the Europe region.
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Some of the key players of aviation fuel additives market are the
- Exxon Mobil Corporation
- Royal Dutch Shell
- Saudi Aramco
- Chevron Corporation
- BP Plc
- The Lubrizol Corporation
- Chemtura Corporation
- Fuel Performance Solutions Inc.
- Afton Chemical Corporation