Emission and Fuel-related Regulations Strengthen in Emerging Economies, Fuel Additives Consumption Spurred, reports TMR
The global market for fuel additives shows a medium level of consolidation. The top three players – Innospec, Afton Chemical Corporation, and The Lubrizol Corporation – collectively took up 28.5% of the global market value in 2014. As stated in a research report released by Transparency Market Research, one of the key reasons for the consolidation of the global fuel additives market is the intensive amount of research and development required by the companies to stay ahead of the curve. Regulatory pressure is very high on manufacturers of fuel additives and can keep new players from entering this market. At the same time, research and development efforts can be highly capital intensive, further restricting players from proliferating in the market.The global market for fuel additives is expected to expand at a CAGR of 8.3% in terms of revenue, within a forecast period from 2015 to 2023. This revenue is expected to reach US$1.62 bn by the end of 2016 and US$2.64 bn ...