[FURL=https://www.industryarc.com/Report/6353/Fuel-Antioxidants-Market-Research-Report.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Fuel Antioxidants Market[/FURL] size is forecast to reach US$2.5 billion by 2027, after growing at a CAGR 6.3% during 2022-2027. Owing to its significant applications in diverse end-user industries, the fuel antioxidants market is set to grow considerably in the coming years. This market is also set to experience substantial growth due to constant demand for dedicated end-user applications in aerospace, automotive, energy, and others. Also, the rapidly rising demand for alkylated phenol and butylated hydroxytoluene in gasoline blending operation is estimated to boost the market growth.Key Takeaways
APAC region dominated the fuel antioxidants market owing to the increasing growth of the end-use industries such as automotive, aerospace, marine, and others. For instance, according to Invest India by 2026, the US$ 118 billion automobile sector is estimated to be worth US$ 300 billion.
Increasing demand for phenolic antioxidants such as butylated hydroxytoluene as fuel additives due to its exceptional features is estimated to drive the growth of the market over the forecast period.
Rising growth of electric vehicles is one of the primary factors hampering the market growth. For instance, as per the International Energy Agency in 2019 the worldwide electric car market share reached a new hight of 2.6%, up from 2.4% in 2018 and 1% in 2017.
Request for Sample of the Report @ [FURL]www.industryarc.com/pdfdownload.php?id=6353[/FURL]
Fuel Antioxidants Market Segment Analysis - Geography
Asia Pacific region dominated the fuel antioxidants market with a share of 44% in the year 2021. As fuel antioxidants directly relate to the oil demand, it is estimated to encounter a colossal need in the coming years in APAC. Also, low oil prices in China are intended to increase the overall demand for fuel antioxidants. The demand for fuel antioxidants market has benefited significantly from the growth of the aerospace, automotive, marine, energy, refinery & pipeline, welding & metal fabrication, and other sectors in the Asia-Pacific region. For instance, according to the International Trade Administration, the research conducted by the China Association of Auto Manufacturers, motorcycle production and sales of domestically manufactured motorcycles increased by 11.5% and 10%, respectively, in 2019, compared to 2018.
Fuel Antioxidants Market Drivers
Increasing Demand for Fuel Antioxidants in the Aerospace Industry
Market Landscape
Major players in the fuel antioxidants market are DSM, BASF SE, Oxiris Chemicals S. A., Sumitomo Chemical Company, Chitec Technology Co., Ltd, Mayzo Inc, SI Group, Inc, Double Bond Chemical Ind. Co. Ltd, Kumho Petrochemical Co., Ltd, merald Performance Materials LLC., and others.
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.