Future Market Insights has announced the addition of the “Marine Fuel Additives Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment; 2017 – 2027" report to their offering.
Valley Cottage, NY -- (SBWIRE) -- 01/29/2018 -- Modern Marine engines are manufactured and designed for better fuel efficiency and reduced emission of harmful gases. For a marine engine to work efficiently, complete combustion of fuel is mandatory. Incomplete combustion of fuel leads to wastage of fuel and also increases the harmful emission of exhaust gases into the environment. Adding the right combination of fuel additives in a marine engine can help the engine deliver higher performance. That apart, these fuel additives also protect engine parts and components from wear and tear and stop deposits from getting built up in the engine. Marine fuel additives, thus, allow marine engines to perform to their full potential and over a longer period of time while also reducing maintenance cost.
If not treated with the right fuel additives, it is expected that the fuel in the engine goes bad within two weeks as some of the fuel components begin to oxidize, which leads to the formation of a gum like substance which reduces the efficiency of the overall engine assembly. This substance settles in the fuel pipelines & tanks, injectors and carburetors. When the fuel containing such a substance is burned, harmful deposits are formed in the combustion chamber and after prolonged use of the fuel, these deposits build up and reduce the overall performance of the marine engine. Thus, it is very important to use fuel additives in marine engines to ensure effective and optimized performance of the engine. Marine fuel additives have novel properties which keep the fuel optimized, remove the leftover deposit through exhaust and protect the overall fuel system and assembly for a longer period of time.
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Marine Fuel Additives Market dynamics:
Rising environment concerns and strict rules and regulation regarding the emission of exhaust gases is estimated to be one of the prominent drivers in the global marine fuel additives market. Another important factor facilitating the growth of the marine fuel additives market is the increasing usage of automatic sensors which control and monitor operating conditions in engines and thus, reduce damage from internal factors, such as deposits, corrosion, extensive pressure, etc. Marine Fuel Additives have evolved over the years and now provide a multitude of advantages, such as enhanced reliability, ease in maintenance, cost effectiveness, and good longevity. The growing use of low sulfur containing fuels is expected to bolster the growth of modern technologies, such as the addition of marine fuel additives to lower harmful emissions from marine engines. The current market condition shows prominent use of marine fuel additives in various marine engineand it is estimated to be a key trend for the market in years to come. The market for marine industries is growing, particularly for the fuel additives segment. Additionally, the growth of marine enginewill also drive the overall marine fuel additives market across the globe over the forecast period.
Marine Fuel Additives Market Segmentation:
The Marine Fuel Additives market can be segmented on the basis of fuel type and operation.
The Marine Fuel Additives market can be segmented on the basis of fuel type into:
The Marine Fuel Additives market can be segmented on the basis of operationinto:
Lubricity & CETANE Improvers
Marine Fuel Additives Market: Regional Outlook:
Europe and North America regions have strict environmental and fuel emission regulations in place, these rules and regulations are estimated to increase the demand for cleaners and efficient fuels during the forecast period. There are several fuel additives which are designed and produced to meet various environmental standards formulated by the governing bodies and this is anticipated to act as a prominent driving factor for marine fuel additives in Europe and North America region. Additionally, North America, Europe and MEA regions experience good demand for marine engine and hence, the demand for marine fuel additives is expected to increase over the forecast period. Within the Asia-Pacific region, countries, such as India and China have increased the usage of marine fuel additives in the marine engines to reduce air pollution. The never ending demand for less polluting resources for various marine applications is also expected to drive the global marine fuel additives market over the forecast period. Based on the above factors, the Marine Fuel Additives market is expected to grow with a prominent CAGR over the forecast period.
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Marine Fuel Additives: Key Players
Some of the key players identified across the value of chain of Marine Fuel Additives market are:
Biobor Fuel Additives
Chevron Oronite Company LLC
Afton Chemical Corporation
Dow Chemical Company
Total Additives and Special Fuels