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Global Biofuel Additives Market is forecast to reach a market value of US $7,599 million in 2026

(USGovernment-News.Com, October 16, 2019 ) The rising environmental concerns related to consumption of fossil fuels and emission of greenhouse gasses has increased the demand for biofuels across the globe. However, biofuels are associated with several functional and production related complexities. Biofuel additives are specialty chemical materials that are to bioethanol and biodiesel to improve the production efficiency, performance characteristics, and reduce transportation and storage complexities.



EU greenhouse gas emission reduction targets to drive biofuels and its additives market

In 2018, the European Union (EU) set its climate and energy objectives for 2030. They included a greenhouse gas (GHG) reduction of at least 40% and a minimum of a 32% share of renewable energy consumption across all sectors. GHG emissions in the European transportation sector have declined by only 3.8% since 2008, compared to an 18% decrease, or more, in all other sectors indicating that the de carbonization of transportation should be a priority for the future. Biofuels are one of the options considered to increase renewable energy and decrease the carbon intensity of the transportation sector. Through the use of directives and national legislation, the EU has incentivized both the adoption of conventional food-based biofuels and advanced biofuels, which are made from non-food feed stocks. Such incentives date to 2009, when the EU Renewable Energy Directive (RED) mandated that by 2020, 10% of energy used in the transportation sector should come from renewable energy sources. There are have been significant measures in place to support advanced alternative fuels among the European countries like Denmark, Germany, Italy, the Netherlands, Sweden and the United Kingdom. Hence these measures to drive the advanced alternatives use such as biofuels, and hence biofuels additives demand in the region.



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Cold-Flow Improvers – The most promising growth sector of biofuel additives

With a share of over 23% in the global sales value, cold flow improvers is dominating the biofuel additives market in 2018. The lucrative growth rate of 12.14% estimated over the forecast period owing to its utilization in transportation, storage, and final consumption of biofuel will help cold flow improvers to hold its dominance till 2026. Addition of these chemicals improve the cloud point, pour point, and other flow properties of biofuels at low temperatures. The rapid growth in the utilization of biodiesel as transportation fuel in Europe region is supporting the demand for cold flow improvers in this region. Biodiesel produced from various sources such as soy, palm, and canola require addition of cold-flow improvers in the treat levels typically varying between 50-1000mg per kg of biodiesel.

North America is leading in the consumption of biofuel additives

North America is dominating the global biofuel additives market owing to high presence of bioethanol production industry, and increasing adoption of bioethanol as an alternative to conventional transportation fuel. The North America biofuel additives market valued USD 1,410.99 million in 2018 and is estimated to grow at a CAGR of 12.00% over the forecast period to reach USD 3,477.35 million by 2026. The government policies supporting the production and consumption of biofuel and biofuel additives in United States includes Energy Policy Act of 1992, energy Policy Act of 2005, Energy Independence and Security Act of 2007, American Recovery and Reinvestment Act of 2009, and Renewable Fuel Standard. Additionally, Mexico evolved as a fastest growing market for biofuel additives in North America during forecast period owing to increase in private investments in establishments of new biofuel production plants and favourable government policies to improve the domestic production and exports of biofuels.



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Competitor Landscape

The global biofuel additives market is moderately consolidated with international players. The companies are competing based on the price, product specifications, technologies and market presence. The global biofuel additives market share is characterized by competition based on prices and service provided to clients. Major companies include Clariant AG, Evonik Industries, Lanxess, Afton Chemical and Chimec SPA. The major focus of these companies is to achieve lower prices and to develop products with latest technologies with niche application and their investments are driven in the same direction.



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