The global aviation fuel additive market is estimated to reach US$808.2 million by 2019 having been valued at US$579.5 million in 2014.
Aviation fuel is a specific type of petroleum-based 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 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.
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.
Adapted from press release by Joseph Green
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