Marine Fuel Additives Market - Global Industry Ana
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Posted On: 08/24/2020 10:17:15 AM
Marine Fuel Additives Market - Global Industry Analysis and Forecast 2025
Marine fuel additives are chemical treatment solutions added to a marine vessel’s existing fuel in order to improve its quality, efficiency, and performance. They are extensively employed due to their ability to enhance the life of marine engines as well as to reduce the cost of operating marine vessels. These two factors are key drivers of the marine fuel additives market. Furthermore, an emerging and strong factor for the increased usage of such additives is the need to curb environmental emissions of the marine industry.
However, the most important reason for the utilization of marine fuel additives is the variable quality of marine fuel itself. The quality of marine fuel depends largely on the location of purchase and the type of trader, i.e., an oil company or an independent supplier. In many cases, the marine fuel is a blend of different available stocks. In such cases, while the fuel may meet the vessel’s ISO specification, it is still unlikely to suit the requirement of the ship’s engine.
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The modification of the chemical properties of marine fuels is the most commonly employed method of improving the quality of the marine fuel, and this modification is done by utilizing marine fuel additives. These additives can be segmented on the basis of type: Pre-combustion, combustion, and post-combustion. The pre-combustion marine fuel additives have been designed for residual fuel stabilization. These additives prevent asphaltene agglomeration that usually leads to sludge formation in tanks and fuel systems by allowing the blending of light and heavy components of the marine fuel. The combustion marine fuel additives primarily help in burning-up the available carbon in every fuel droplet in a shorter amount of time. They not only ensure a more complete combustion, but also reduce the buildup of sooty deposits. Post-combustion marine fuel additives primarily effect the ash material found in fuels, apart from also effecting the melting temperatures of various compounds created during combustion. They primarily prevent ash and other compounds from attaching themselves to the engine or the exhaust gas boiler.
In terms of fuel type, the marine fuel additives market can be segmented into diesel, gasoline, and others. Currently, gasoline is the most commonly employed marine fuel, especially HFO, i.e. heavy fuel oil. The diesel fuel segment held a limited share of the market. The others fuel type, which includes marine fuels such as marine gas oil (MGO), held a lesser share of the market as compared to the diesel fuel type segment. However, the market share held by the others marine fuel segment is estimated to increase during the forecast period, and hence along with it, the demand for marine fuel additives in the others fuel type segment is also likely to increase.
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Based on the function of the marine fuel additives, its market can be segmented into deposit control, anti-oxidant, corrosion prevention, lubricity and CETANE improvers, and others. The most common function of the additives is to prevent deposition of unnecessary materials and compounds as well as to prevent corrosion. The usage of marine fuel additives as antioxidants is also very important and occupies a considerable share in the market.
In terms of region, the global marine fuel additives market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America and Europe have strict emissions and fuel cleanliness regulations in place, which drives the marine fuel additives market. Middle East & Africa witnesses a good shipping demand, thereby driving the marine fuel additives market. Comparatively, Asia Pacific and Latin America are relatively weak markets for marine fuel additives. However, given that these additives are an essential requirement in the marine industry, the global marine fuel additives market is expected to witness stable growth during the forecast period.
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Key players orperating in the global marine fuel additives market include Biobor Fuel Additives, West Marine, Lubrizol Corporation, Innospec, BASF SE, Chevron Oronite Company LLC, Afton Chemical Corporation, Albemarle, Chemtura Corporation, Baker Hughes, The Dow Chemical Company, Evonik Industries, and NALCO Champion.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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Marine fuel additives are chemical treatment solutions added to a marine vessel’s existing fuel in order to improve its quality, efficiency, and performance. They are extensively employed due to their ability to enhance the life of marine engines as well as to reduce the cost of operating marine vessels. These two factors are key drivers of the marine fuel additives market. Furthermore, an emerging and strong factor for the increased usage of such additives is the need to curb environmental emissions of the marine industry.
However, the most important reason for the utilization of marine fuel additives is the variable quality of marine fuel itself. The quality of marine fuel depends largely on the location of purchase and the type of trader, i.e., an oil company or an independent supplier. In many cases, the marine fuel is a blend of different available stocks. In such cases, while the fuel may meet the vessel’s ISO specification, it is still unlikely to suit the requirement of the ship’s engine.
Download PDF Brochure - https://www.transparencymarketresearch.com/sa...p_id=31862
The modification of the chemical properties of marine fuels is the most commonly employed method of improving the quality of the marine fuel, and this modification is done by utilizing marine fuel additives. These additives can be segmented on the basis of type: Pre-combustion, combustion, and post-combustion. The pre-combustion marine fuel additives have been designed for residual fuel stabilization. These additives prevent asphaltene agglomeration that usually leads to sludge formation in tanks and fuel systems by allowing the blending of light and heavy components of the marine fuel. The combustion marine fuel additives primarily help in burning-up the available carbon in every fuel droplet in a shorter amount of time. They not only ensure a more complete combustion, but also reduce the buildup of sooty deposits. Post-combustion marine fuel additives primarily effect the ash material found in fuels, apart from also effecting the melting temperatures of various compounds created during combustion. They primarily prevent ash and other compounds from attaching themselves to the engine or the exhaust gas boiler.
In terms of fuel type, the marine fuel additives market can be segmented into diesel, gasoline, and others. Currently, gasoline is the most commonly employed marine fuel, especially HFO, i.e. heavy fuel oil. The diesel fuel segment held a limited share of the market. The others fuel type, which includes marine fuels such as marine gas oil (MGO), held a lesser share of the market as compared to the diesel fuel type segment. However, the market share held by the others marine fuel segment is estimated to increase during the forecast period, and hence along with it, the demand for marine fuel additives in the others fuel type segment is also likely to increase.
More Trending Reports by Transparency Market Research - https://www.prnewswire.com/news-releases/anim...26065.html
Based on the function of the marine fuel additives, its market can be segmented into deposit control, anti-oxidant, corrosion prevention, lubricity and CETANE improvers, and others. The most common function of the additives is to prevent deposition of unnecessary materials and compounds as well as to prevent corrosion. The usage of marine fuel additives as antioxidants is also very important and occupies a considerable share in the market.
In terms of region, the global marine fuel additives market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America and Europe have strict emissions and fuel cleanliness regulations in place, which drives the marine fuel additives market. Middle East & Africa witnesses a good shipping demand, thereby driving the marine fuel additives market. Comparatively, Asia Pacific and Latin America are relatively weak markets for marine fuel additives. However, given that these additives are an essential requirement in the marine industry, the global marine fuel additives market is expected to witness stable growth during the forecast period.
Request for Custom Research at - https://www.transparencymarketresearch.com/sa...p_id=31862
Key players orperating in the global marine fuel additives market include Biobor Fuel Additives, West Marine, Lubrizol Corporation, Innospec, BASF SE, Chevron Oronite Company LLC, Afton Chemical Corporation, Albemarle, Chemtura Corporation, Baker Hughes, The Dow Chemical Company, Evonik Industries, and NALCO Champion.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
Request for covid19 Impact Analysis - https://www.transparencymarketresearch.com/sa...p_id=31862
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