Global Jet Fuel Additives Market 2017-2021
About Jet Fuel Additives
Jet fuel additives are used in the aviation industry to improve or enhance the performance of jet fuels. They are added in small quantities that are often measurable in parts per million. Typically, additives are derived from petroleum-based raw materials, and their chemistry and function are highly specialized. They are used in varying proportions in all petroleum-derived fuels. Additives that are used in the aviation industry should be approved by regulatory bodies such as the European Aviation Safety Agency and the Federal Aviation Administration (FAA) before they are commercially used.
Technavio’s analysts forecast the global jet fuel additives market to grow at a CAGR of 7.12% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global jet fuel additives market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Jet Fuel Additives Market 2017-2021
Technavio recognizes the following companies as the key players in the global jet fuel additives market: Afton Chemical, BASF, GENERAL ELECTRIC, Innospec, and Shell.
Other Prominent Vendors in the market are: Cummins Filtration, Chemours, Dow Chemical, Dorf Ketal, Hammonds, LANXESS, Meridian Fuels, and NALCO.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing demand for efficient jet fuels. The rising demand for fuel efficient and eco-friendly jet fuels is expected to drive the growth of the global jet fuel additives market during the forecast period. Jet fuel additives help in improving the performance of jet fuels such as stability, lubricity, and cleanliness.”
According to the report, one driver in the market is growing demand from emerging economies. Emerging countries are expected to lead the jet fuel additives market owing to the improvement in the standard of living, liberalization, open market, and industrialization. The increase in manufacturing activities, owing to the high GDP in emerging countries such as China, Columbia, Brazil, India, Indonesia, and Mexico, is also expected to drive the jet fuel additives market. The emergence of China and India as major manufacturing hubs in APAC is expected to drive the demand for jet fuel additives.
Further, the report states that one challenge in the market is alternate modes of transportation. Alternate and cheaper modes of transportation are expected to pose a serious threat to the aviation industry. The increase in fuel prices and taxes is expected to elevate the service charges for the transportation of goods. The global tax bill for the aviation industry was $123 billion in 2016, which was much higher than that of other transportation modes. More than 60% of countries have put on visa barriers in the way of travel.
Afton Chemical, BASF, GENERAL ELECTRIC, Innospec, and Shell. Cummins Filtration, Chemours, Dow Chemical, Dorf Ketal, Hammonds, LANXESS, Meridian Fuels, and NALCO.