Fuel Additives Market to Grow 6 Percent by 2020
The fuel additives market that includes biofuels such as ethanol should grow by 6 percent annually from 2015 to 2020, according to a report by TechSci Research.
Increasing demand for specialty fuel additives, abundant availability of biomass feedstock used for production of biofuels, and mandates issued by the U.S. Environment Protection Agency (EPA) on biofuel consumption should drive the demand for fuel additives.
Fuel ethanol is the most abundantly used fuel additive in the U.S. It's being added to more than 95 percent of gasoline used in the country.
"The U.S. fuel additives market is expected to witness promising growth over the next five years on account of rising demand for cleaner fuels and growing consumer preference towards fuel efficient vehicles," said Karan Chechi, research director with TechSci Research. "The consumption of fuel ethanol in gasoline is expected to remain high and account for a major market share."
The report also identifies and analyzes the emerging trends along with essential drivers, key challenges and opportunities available in the fuel additives market in the U.S.
To learn more about TechSci's research report click here.