June 25, 2019 by Steve Blade
Chemtura Corporation, Abhitech Energycon Ltd., Cummins Filtration, Infineum International Ltd., Chevron Oronite Company, BASF SE, Gasoline Octane Improvers Market insight, Gasoline Octane Improvers Market Share, Gasoline Octane Improvers Market size, Gasoline Octane Improvers Market
Gasoline octane improvers consist of three major compounds that are methyl tertiary5butyl ether (MTBE), ethanol and ethyl tertiary-butyl ether (ETBE). Also, tertiary-amyl ethyl ether (TAEE) and tertiary-amyl methyl ether (TAME) are the improvers used in lesser quantities in several regions. The global Gasoline Octane Improvers Market is expected to foray ahead with a lower single digit CAGR over the forecast period of 2019-2029.
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Gasoline octane improvers may be defined as boosters that enhance the octane level of gasoline. Increased octane level in gasoline tends to decrease the knocking tendency of engine. Also, the gasoline octane improvers are crucial in achieving the carbon emission reduction programs proposed by various authorities, such as National Highway Traffic Safety Administration (NHTSA), US EPA etc. Increasing adoption of bio-based ethanol as a gasoline octane improver is identified as the recent trend within the market. Moreover, increasing ethanol production, emphasis on fuel efficiency along with stringent government regulations regarding carbon emission reduction, which are some of the factors driving the global market over the forecast period. In addition, factors such as rising penetration of electric vehicles tends to act as a restraint for the market growth till 2029.
High demand for gasoline octane improvers specifically from automotive industry is leveraging huge adoption opportunities for the market. As per OICA (International Organization of Motor Vehicle Manufacturers), Paris, the total passenger cars sales in 2016 was recorded to be around 70 million, which further escalated to 71 million in 2017. The automotive industry, in particular, calls for high adoption of gasoline octane improvers for adhering to the regulations set by government authorities of various countries. Therefore, with an increasing number of motor vehicles, the demand for gasoline octane improvers is expected to increase, which, in turn, drives the market growth till 2029.
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The global gasoline octane improvers market is segmented into seven regions: North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA. Among the above-mentioned regions, North America is expected to contribute a majority of the market share in 2019, in terms of volume owing to high adoption of gasoline octane improvers across the automotive sector. Consumers in North America are well aware of the benefits proposed by gasoline octane improvers that go hand-in-hand with the regulations proposed by National Highway Traffic Safety Administration (NHTSA). Further, East Asia and South Asia & Oceania would witness high growth rates owing to increasing consumption of gasoline in countries such as India, China etc. India is one of the key emerging markets for gasoline octane improvers in the region. Moreover, Latin America is also growing with considerable growth rate owing to increasing demand from Argentina and Brazil. Further, positive government stance towards the use of gasoline octane improvers and increasing ethanol production in Brazil are the factors that drives the regional market till 2029.
Prominent players in the global gasoline octane improvers market are BASF SE, Chevron Oronite Company, Infineum International Ltd., Cummins Filtration, Abhitech Energycon Ltd., Chemtura Corporation etc. The gasoline octane improvers market consists of well-diversified global and regional players with global vendors ruling the market.
The research report presents a comprehensive assessment of the Gasoline octane improvers market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Gasoline octane improvers market report provides analysis and information, according to market segments such as geographies, type and source.
The Gasoline octane improvers report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Gasoline octane improvers report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Gasoline octane improvers report also maps the qualitative impact of various market factors on market segments and geographies.
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