Performance additives market is expected to rise from its initial estimated value of USD 88.02 billion in 2018 to an estimated value of USD 164.12 billion by 2026, registering a CAGR of 8.1% in the forecast period of 2019-2026. This rise in market value can be attributed to the increase in awareness regarding the benefits of additives.
Market exercises or patterns continue changing and in this light, you have to see how your competitors move. The performance additives market research reports offer a fundamental diagram of the techniques being utilized by them. The report investigates and talks about the development zones for every one of the innovations, recognizes the subject matters and key sellers.
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Performance additives are the various chemicals that are added to the modern-day automotive gasoline and other propelling fuels to stabilize and elevate their octane level, decrease the propensity of pre-ignition, and allow for more power to be made from increased compression and advanced ignition timing. Growing demand for these chemicals from automobile and construction industries are likely to play a major role in the market growth.
Key Developments in the Market:
- In April 2019, in the U.S., a conference was held by the ‘American Chemical Society (ACS) Spring 2019 National Meeting & Exposition’ on the topic ‘Minimizing fuel explosions and fires from accidents and terrorist acts with polymers’. The U.S. Army is planning to study the utility of the additives in different scenarios and its impacts and projectiles such as improvised explosive devices.
- In April 2019, a conference was held by Innospec Inc that explained about the performance of chemical business that creates innovative technology- system. It is focused in the personal care, home care, agrochemical, metal extraction and industrial markets. It highlighted about the Octane Additives that helps to produce octane in order to enhance gasoline.
Few of the major competitors currently working in global performance additives market are
- Akzo Nobel N.V.
- Arkema SA
- BASF SE
- Evonik Industries AG
- Huntsman International LLC
- The DOW Chemical Company
- Growing population and rapid urbanization
- High demand from end-use industries
- Development of multipurpose additives
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- Volatile raw material prices
- Stringent environmental regulations related to additives
Segmentation: Global Performance Additives Market
- By Type:
- Plastic Additives
- Rubber Additives
- Ink Additives
- Pigment Additives
- Paints and Coating Additives
- By End-Use Industry:
- Household Goods
- Wood and Furniture
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Global performance additives market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of performance additives market are for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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