A [b]Biofuel[/b] is a fuel that is produced through contemporary biological processes, such as agriculture and anaerobic digestion unlike normal fuels which are derived in the form of fossil fuels, such as coal, petroleum from prehistoric biological matter. Biofuels can also be derived directly from plants, or indirectly from agricultural, commercial, domestic wastes.
Similarly like [b]Fuel Additives[/b], Biofuels also have additives to improve their efficiency. These additives are called as [b]Biofuel Additives[/b]. Raising environmental concerns are the main factors for increase in usage of [b]Biofuel Additives[/b].
[b]To Know More about”Biofuel Additives Market”, Follow Below Report Link:[/b]
[b]Nature of the Market:[/b]
Due to the increasing awareness among people about the importance of environmental protection, there is a high demand for Biofuel Additives in the past few years.
The [b]Global Biofuel Additives Market[/b] is estimated to register a [b]CAGR of 6.7%[/b] between [b]2015 and 2020[/b], to reach [b]$8.4 billion by 2020[/b].
[b]Market Driving Factors:[/b]
• Increase in Environmental Concerns is the main factor contributing to the growth of biofuel additives market.
• Worldwide increase in usage of Biofuel among major industries like Transportation, Manufacturing etc. has impacted the market in a positive manner.
• Demand for more efficiency in fuel is also increasing the usage of Biofuel Additives.
The Global Biofuel Additives Market is segmented based on following factors.
1. By Type: Anti-Oxidants, Detergents, Dispersants, Lubricity Improvers and More.
2. By Application: Automotive, Industrial, Others.
3. By Geography: Americas, Europe, Asia-pacific and Rest of the World.
This study analyzes, estimates, and forecasts the Global Biofuel Additives Market from the demand perspective in terms of Volume (Kilo tons) and revenue (USD million) from 2015 to 2020. The report also analyzes several market drivers and restraints along with their impact on the market during the forecast period.
[b]Key Market Players:[/b]
Few leading competitors in the Biofuel Additives Market are mentioned below:
• The Lubrizol Corporation
• Chemiphase Ltd.
• Clariant AG
• Eastman Chemical Company
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