LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global jet fuel additives market report until 2021. This research report also lists eight other prominent vendors that are expected to impact the market during the forecast period.
The global jet fuel additives market will have a significant growth due to the increasing demand from passenger and cargo aircraft. The revenue passenger kilometer (RPK) is the measure of the volume of passengers that is carried by an airline. The increase in demand for low-cost carriers (LCCs) and cargo flights are expected to foster the growth of the global jet fuel additives market during the forecast period.
Competitive vendor landscape
The global jet fuel additives market is fragmented with the presence of a large number of vendors. The market is mainly dominated by global vendors such as Afton Chemical, BASF, Innospec, GENERAL ELECTRIC, and Shell. Many regional vendors are also present in the global jet fuel additives market, especially in emerging regions such as APAC and the Middle East. Growing industrialization and urbanization in developing countries such as India, Brazil, and China have spurred the entry and growth of domestic vendors.
Hitesh Bhatia, an industry expert at Technavio for research on specialty chemicals, says, “The major players in the jet fuel additives market are keenly focusing on mergers and acquisitions to shield themselves from the threat of rivalry. For instance, in 2017 the LANXESS acquired the US company, Chemtura. The acquisition is expected to expand its additives portfolio and have a competitive edge over the jet fuel additives market. Although medium and small-scale vendors are coming up with innovative capabilities, major prominent players will still go on to have a strong foothold.”
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Top five jet fuel additives market vendors
Afton Chemical develops, manufactures, and sells petroleum additives. It provides engine oils, performance and refinery fuels, and industrial and metalworking additives. Also, it offers industrial additives such as lubricating grease, compressor oils, anti-wear lubricants, slideway lubricants, turbine lubricants, and industrial gear oils. It also offers driveline products such as automatic transmission fluid s, automotive gear oils, power steering fluid additives, and off-road additives.
BASF provides crop protection products, chemicals, plastics, performance products, and oil and gas. The company serves many diversified industries such as paper, furniture, automotive, and others and has customers in 80 countries.
The company provides different types of fuel additives for civil, military, and other applications. It mainly offers Kerojet Aquarius, Kerojet 100 Thermal Stability Additive, and Kerofluid MIL-AL-41. The Kerojet 100 Thermal Stability Additive and Kerofluid MIL-AL-41 are commonly used for military applications.
GENERAL ELECTRIC offers additives under the GE Power & Water business unit. It functions through eight segments, which include power, aviation, healthcare, energy connections and lighting, oil and gas, capital, renewable energy, and transportation. It also offers gas and steam power systems and maintenance solutions. It provides wastewater treatment, water treatment, and process system solutions for nuclear reactors, and support services.
Innospec develops, manufactures, and markets fuel additives, personal care products, oilfield chemicals, and other specialty chemicals. It provides its products and services to industries such as oil and gas, fuel, agrochemical, personal care, home care, and chemical. It mainly operates through four segments, which include performance chemicals, fuel specialties, oilfield services, and octane additives.
Shell operates globally as an independent oil and gas company. It mainly functions through three business segments, which include integrated gas, upstream, and downstream. It is involved in the exploration and extraction of crude oil, natural gas, and natural gas liquids. It offers various refined crude oil products such as diesel, gasoline, marine fuel, heating oil, aviation fuel, and liquefied natural gas.
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