Cetane Improver Additives Market Size to Reach USD 1,523.5 Million by 2030, Says The Brainy Insights
Global cetane improver additives market growth is driven by manufacturers’ rising investments in offshore fields. The Asia-Pacific region is expected to remain one of the most alluring markets, and this region accounts for the majority revenue share in the market.
Newark, Dec. 20, 2022 (GLOBE NEWSWIRE) — The Cetane improver additives market was estimated at around USD 1,058 million in 2021, growing at a CAGR of nearly 4.1% during 2022-2030. The market is projected to reach approximately USD 1,523.5 million by 2030.
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Cetane Improver Additives Market: Overview
To increase the cetane rating of the combination, diesel is blended with modest amounts of cetane improvers or additives. The most often employed cetane booster is octyl nitrate (EHN). It helps in the manufacturing of products that hasten ignition and cut down on ignition delay. There is a 0.05 to 0.4 mass percent addition. The demand for cetane improver additives is expected to increase significantly over the projected period as a result of stringent government regulations requiring the required blending of biodiesel with diesel and expanding diesel fuel usage in power generation and other application sectors globally. The market, however, is worried about the increasing cost of the chemical compounds employed in cetane improver additives.
A significant driver boosting the market’s growth over the anticipated period is the expansion of environmental policies and activities aimed at reducing carbon emissions and carbon footprints. The growth rate of the market for cetane improver additives will be further accelerated by the expansion of end use industries and the rising population. In addition, the rising urbanization and industrialization of developing nations like China, India, and Southeast Asia will spur an increase in market value.
Due to their usage in supplying energy to the transportation sector, transportation fuels have become more significant to the world economy. However, a major problem with conventional petroleum-based engines is the emission of dangerous pollutants including NOx (nitrogen oxides) and particulates. The increasing depletion of fossil fuels and the rising emissions they produce are what are causing alternative energy sources to emerge. Due to its characteristics being similar to those of diesel, biodiesel is gaining popularity as an alternative to petroleum-based fuel. Since biodiesel naturally contains oxygen, which lowers emissions of CO2, HC, and particulates, it has several advantages over diesel. The viscosity, heating value, and other qualities of the fuel are improved by the addition of oxygenates, bio-additives, and cetane number improvers, among other additives. The cetane number of the fuel can also be increased by using cetane number improvers. When burned, biodiesel blends produce water separation and fuel foaming as opposed to pure fossil fuels. Due to the fact that biodiesel does not ignite as quickly as ordinary diesel, a cetane improver must be added for improved ignition. When cetane improver additives are used, the combustion temperatures are decreased because they shorten the ignition delay. Therefore, the demand for cetane improver additives is rising in order to enhance the functionality and consistency of biodiesel blends.
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The market for cetane improver additives market is segmented into the type, diesel type, and end use industry. According to the type, the 2-Ethlyhexyl Nitrate (EHN) segment is expected to increase at the quickest rate. It is utilized at dose levels that typically range from 0.05% to 0.4% (m/m), producing improvements in cetane numbers of 3 to 13. Due to its inexpensive manufacture and outstanding performance across a variety of fuels, EHN has emerged as the most used ignition improver. These reasons explain why it has applications in a variety of end-user sectors that use diesel as a fuel.
Over the projected period, the petroleum diesel segment is expected to record the largest revenue by diesel type. According to the Organization of the Petroleum Exporting Countries (OPEC), during the predicted period, demand for petroleum products is anticipated to increase. Crude will increase by 25% in 2021 to average at a rate of 29.8 MMbpd, which is greater than what is needed in 2019. Diesel fuel additives known as cetane improvers work to boost the mixture’s cetane content when used in small amounts. During the anticipated period, a rise in the demand for and consumption of diesel would propel the market for cetane improver additives.
The transportation segment is anticipated to hold major share in the cetane improver additives market by end use industry during the forecast period. The efficiency of an engine is increased while the cylinder wear is decreased with a cetane improver. The automobile sector is changing as a result of new R&D initiatives and technological development. Automobile manufacturers invested more than $125 billion in R&D worldwide in 2018, according to the Association of Global Automakers. The market for cetane improver additives may thus develop as a result of the thriving automobile industry.
In the market for cetane improver additives, Asia-Pacific held the largest market share of the overall market. In Asia Pacific, notably in China, there is a considerable need for cetane improver additives. This is because more low-emission vehicles are being used, and because more research and development activities are being conducted in the area. The production of commercial and passenger vehicles production has increased over years in this region which makes it a dominant segment to expand the market during the forecast period.
|Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends
|North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
|Cetane improver additives Market CAGR
By Diesel Type
By End Use Industry
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List of the prominent players in the Global Cetane improver additives market:
• BASF SE
• The Lubrizol Corporation
• Kutch Chemical Industries LTD
• Dorf-Ketal Chemicals India Private Limited
• Afton Chemical
• Chevron Corporation
• NITROERG S.A.
• Cestoil Chemical Inc.
The global Cetane improver additives market is segmented as follows:
• 2-Ethylhexyl Nitrate (EHN)
• Di-Tertiary Butyl Peroxide (DTBP)
By Diesel Type
• Petroleum Diesel
By End Use Industry
• Power Generation
• North America
o The U.S.
o The UK
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Rest of Latin America
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About the report:
The global Cetane Improver Additives market is analyzed on the basis of value (USD million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, and competitor position grid analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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