DUBLIN--(BUSINESS WIRE)--The "Octane Improver Market - Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2022" report has been added to ResearchAndMarkets.com's offering.
The global octane improver market is expected to grow at a CAGR of 7.5% during the forecast period 2016-2022 to reach $480.8 million by 2023.
This technology created a revolution in fuel and its storage industry as this has provided a long-term benefit at low cost. The increasing concern toward environment protection, where fuel consumption is a major issue, provides a promising growth potential for the octane improver market, that has the maximum demand. The market has an advantage of its properties, that helps in increasing its fuel efficiency, and environment improvement. The high demand for this is coming from the US and European countries for the advanced technologies in passenger vehicles.
This gives North America a lead in the global octane improver market. Apart from this, European countries are also developing high demand, following North America, owing to the higher consumer acceptance and high demand from the automotive and marine sector. Asia Pacific followed Europe and accounts for the third largest market for octane improver with the presence of large petrochemical industry and the presence of big Chinese market.
Within various end-user areas, automotive is highly dominating the market in overall octane improver across regions owing to the high adoption rate and presence of large consumer base. Other than automotive, the marine & aviation industry is also increasing its market during the forecast period due to increasing investments and R&D innovations along with government interventions.
Some of the key players in the octane improver market are Valero Renewables fuels, Dorf Ketal Fuels, LyondellBasell Industries, BP Plc, BASF SE etc.
- Marine & Aviation
- Valero Renewable Fuels Company, LLC
- Dorf Ketal Chemicals
- LyondellBasell Industries N.V.
- BP Plc
- BASF SE
- Royal Dutch Shell plc
- China Petroleum & Chemical Corporation (Sinopec)
- Hindustan Petroleum Corporation Limited (HPCL)
- Exxon Mobil Corporation
- Chevron Corporation
Companies to Watch for
For more information about this report visit https://www.researchandmarkets.com/research/8vr5qb/480_million?w=4