About Biofuel Additives
Biofuels are generally divided into ethanol and biodiesel, and are as an additive or replacement for transportation fuels traditionally provided by petroleum, including gasoline and diesel. Ethanol and biodiesel can be produced corn, soybeans, or other advanced or experimental feedstocks, including cellulosic materials, algae, and even seaweed. The biofuel additives market has witnessed significant growth in recent years due to the rising demand for alternative energy sources and increasing environmental concerns.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 10.9% |
Competition among existing players is due to the Biofuel Additives market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Biofuel Additives market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Biofuel Additives market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Afton Chemical (United States), Eastman Chemical Company (United States), Evonik Industries (Germany), Chemiphase (United Kingdom), Biofuel Systems Group (United Kingdom), E-ZOIL (United States), Chevron Oronite Company (United States), Lubrizol (United States), Clariant (United States), SBZ Corporation (United Kingdom), Fuel Quality Services (United States) and Be8 (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are NALCO (India), Fuel Quality Services (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Biofuel Additives market by Type (Antioxidants, Stabilizers, Detergents, Corrosion inhibitors, Cetane improvers (for biodiesel), Octane improvers (for ethanol), Cold flow improvers, Lubricity enhancers, Water scavengers and Others), Application (Biodiesel, Ethanol, Biogas and Other biofuels) and Region.
On the basis of geography, the market of Biofuel Additives has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Biofuel Type, the sub-segment i.e. Biodiesel will boost the Biofuel Additives market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Transportation will boost the Biofuel Additives market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing focus on sustainable and renewable energy sources of energy.
Market Growth Drivers:
Rising demand for biofuel additive in various end user applications. and The rising adoption of biofuels, reduced dependency on oil-producing nations.
Challenges:
Volatility in feedstock availability and prices.
Restraints:
Lack of standardize regulation. and Limited awareness and infrastructure.
Opportunities:
Technological advancement in biofuel additives. and The research and development investment.
Market Leaders and their expansionary development strategies
In November 2022, Clariant, a focused, sustainable, and innovative specialty chemical company, announced that it has completed the acquisition of BASF’s U.S. based Attapulgite business assets for USD 60 million in cash, With this acquisition Clariant’s Functional Minerals business has increase its production capacity and subsequently its footprint in the attractive North American market.
In October 2023, Be8, the national leader in biodiesel, launched an exclusive product that has revolutionize the biofuels market. Be8 BeVant a bi-distilled methyl ester, the result of a process that generates quality and performance gains, which allows the product to be added 100% or mixed with diesel oil, anticipating several of the benefits of green diesel - HVO (Hydrotreated Vegetable Oil), under more competitive commercial conditions.
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.