Octane improver is a fuel utilize to develop the effectiveness of the fuel and develop its quality as well. Octane improver comes under oxygenate category, as it rise gasoline’s octane rating or perform as corrosion inhibitors or lubricants. This supports in managing higher compression rates for greater efficiency and power. Furthermore, the key players of this market are doing significant developments in the technology of the product for leading the fastest market growth in the near future which further develop the efficiency of the fuel and quality. This also helpful for the players in attaining the highest market share across the globe more effectively in the coming years.
According to the report analysis, ‘Octane Improver Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2022’ states that there are several key players which are presently functioning in this sector more actively for leading the fastest market growth and acquiring the highest market share around the globe in the coming years by analyzing the relatable aspects of generating the high amount of revenue includes Valero Renewables fuels, Dorf Ketal Fuels, LyondellBasell Industries, BP Plc, BASF SE and several others. Moreover, the players of this market are benefitted with the partnerships, joint ventures and mergers and acquisitions for ruling around the globe and introducing the new product which benefitted for both the existing key players and the users. Nevertheless, the few of the focused key players are adopting the effective strategies of doing work and analyzing the related aspects of generating the high amount of revenue. This also profitable for leading the fastest market growth during the forecasted period.
Additionally, the global market of octane improver is segmented in few segments which majorly includes additive types, end-users and regions. Whereas, on the basis of additive types the market is further segmented into ethanol, MTBE, methanol and several others. Ethanol and MTBE types are predictable to continue as main additive type, during the forecast period. However, the segment of end-users is also being classified further which includes automotive, marine and aviation and several others. While, an automotive is extremely directing the market in overall octane improver across regions due to the high acceptance rate and occurrence of large consumer base. Other than automotive, the marine & aviation industry is also accumulative its market during the forecast period owing to the growing investments and R&D innovations along with government interventions.
Although, on the basis of region, the market is spread across the globe while, according to research, the global octane improver market is predictable to grow at a CAGR of 7.5% during the forecast period of 2016-2022 to reach USD 480.8 million by 2023. For instance, the great requirement for this is coming from the US and European countries for the developed technologies in passenger vehicles. This gives North America a motivation in the global octane improver market. Apart from this, European countries are also advancing the high demand, following North America, due to the greater consumer acceptance and extraordinary demand from the automotive and marine sector. Asia Pacific followed Europe and registers for the third largest market for octane improver with the occurrence of enormous petrochemical industry and the existence of big Chinese market. Therefore, in the near future, it is expected that the market of octane improver will increase across the globe more positively over the recent few years.
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Ankur Gupta, Head Marketing & Communications