‘United States Fuel Additives Market Forecast & Opportunities, 2020’, a report recently published by TechSci Research has said that the US fuel additives market is projected to grow at a CAGR of over 6% between now and 2020. Fuel additives are fuel soluble chemical compounds used to improve certain characteristics of fuel or suppress the undesirable properties. The fuel additives market in the US is dominated by biofuels, which are added to diesel, followed by fuel ethanol, which is added to gasoline, to help the fuel burn more cleanly and improve vehicle efficiency. Speciality fuel additives are added to transportation fuels to impart specific properties and enhance the overall performance.
Fuel ethanol is the most widely used fuel additive in the US as it is currently being added to over 95% of gasoline used in the country. The US is the leading consumer of specialty fuel additives in the world and is expected to maintain its dominance through 2020. Increasing demand for specialty fuel additives, abundant availability of biomass feedstock used for production of biofuels and mandates issued by the US EPA on biofuel consumption are expected to drive the demand for fuel additives in the US through 2020.
Karan Chechi, Research Director, TechSci Research said, “the US fuel additives market is expected to witness promising growth over the next five years on account of rising demand for cleaner fuels and growing consumer preference towards fuel efficient vehicles. In particular, the use of fuel additives for application in gasoline is expected to grow in the US over the course of the next five years. The consumption of fuel ethanol in gasoline is expected to remain high and account for a major market share. However, anticipated increase in consumption of biofuels blended with diesel oils is expected to further propel the fuel additives market in the US through 2020.”
Edited from press release by Claira Lloyd
Read the article online at: https://www.hydrocarbonengineering.com/refining/08072015/us-fuel-additives/