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(Transportation-News.com, July 06, 2017 ) Publisher's market research analyst predicts the jet fuel additives market to witness a steady growth at a CAGR of around 7% during the forecast period. The lower oil prices and the need for fuel efficient aircrafts are the key drivers behind the growth of this market. The use of high-performance additives helps in reducing the costs of maintenance, reduce coking issues and provide optimum high-performance gas turbines.
The growing concerns about emissions are expected to deter the growth of this market during the forecast period. The increasing emission is expected to hurt the consumption of jet fuels. The regulation focus in Europe is on reducing grams of carbon dioxide per kilometer travelled in tightening the limits on the emission of particulate matter, nitrous oxide, carbon monoxide, and hydrocarbons.
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Segmentation by application and analysis of the jet fuel additives market
Passenger and freighter aircrafts
Cargo aircrafts
APAC is predicted to become the largest air travel market in the world, and this growth is expected to drive the jet fuel additives market during the forecast period.
Geographical segmentation and analysis of the jet fuel additives market
APAC
EMEA
North America
ROW
EMEA led the jet fuel additives market with a market share of 38% during 2014. The research report predicts this region to continue as the market leader during the forecast period. This region is expected to provide an excellent opportunity for cold flow improver suppliers to address the growing cold weather problems.
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Competitive landscape and key vendors
The jet fuel additives market is dominated by five leading vendors such as BASF and Afton. Providers in this market in terms of distribution and reach. The market is predicted to witness an increased influx of vendors during the forecast period.
The leading vendors in the market are -
Afton
BASF
GE
Innospec
Nalco
Other vendors in the market include Baker Hughes, Biobor, Chemtura, Chemours, DOW, and Shell.
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