Fuel Oxygenates Market- New Innovations, Challenges and Opportunities, 2021-2031
Fuel Oxygenates Market- New Innovations, Challenges and Opportunities, 2021-2031
Published by TMR Research Insights
Posted on September 28, 2021
Fuel Oxygenates Market: Overview
Fuel oxygenates are chemical compounds comprising oxygen atom in a chain of carbon and hydrogen atoms. Fuel oxygenates are alcohols and ethers including ethanol fuel, methyl tertiary butyl ether (MTBE), ethyl tertiary butyl ether (ETBE), and tertiary amyl methyl ether (TAME). These possess high amount of oxygen and consequently can help in simple burning.
Fuel oxygenates are primarily used as fuel additives to enhance the octane number in reformulated gasoline, oxygenated fuel, and premium grades of unleaded gasoline
Technological advancements such as 100% bio-ether production, ternary blending, and conversion of tertiary amyl methyl ether (TAME) into tertiary amyl ethyl ether (TAEE) are anticipated to drive the global fuel oxygenates market during the forecast period
Key Drivers and Restraints of Fuel Oxygenates Market
Increase in adoption of green technologies in manufacture of fuel oxygenates is anticipated to boost the global fuel oxygenates market. Emergence of fuel oxygenates based on bio-feedstock to reduce smog forming precursors such as VOCs emitted from cars is propelling the demand for fuel oxygenates in the automotive & transportation industry.
Bio-ether based fuel oxygenates enhance the quality of fuel by curtailing CO2 emissions across their lifecycle and deliver superior balance between the high-speed and low-speed octane numbers (Motor Octane Number {MON} and Road Octane Number {RON}) that are required by modern cars. Therefore, demand for green fuel oxygenates is expected to increase rapidly in the next few years, as they help reduce fuel consumption, maintain costs, and exhaust emissions.
Rise in demand for green fuel oxygenates in transportation, vehicle fleet, cargo shipping, automotive, industrial, and commercial industries is projected to drive the global fuel oxygenates market
Growth in adoption rate of electric vehicles among consumers around the world is anticipated to hamper the fuel oxygenates market
The global fuel oxygenates market can be segmented based on type, fuel type, and end-user industry
In terms of type, the global fuel oxygenates market can be divided into alcohols, ethers, and others. The alcohols segment is expected to expand at a higher CAGR during the forecast period.
In terms of fuel type, the global fuel oxygenates market can be classified into petrol/gasoline and diesel. The petrol/gasoline segment is expected to expand at a high CAGR during the forecast period.
In terms of end-use industry, the fuel oxygenates market can be segregated into automotive & transportation, aerospace & defense, industrial equipment, and others. The automotive & transportation segment is estimated to hold major share of the global fuel oxygenates market in the near future.
Global Fuel Oxygenates Market: Regional Segmentation
In terms of region, the global fuel oxygenates market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
North America and Europe accounted for substantial share of the global fuel oxygenates market in 2020
In terms of region, North America is a leading consumer of fuel oxygenates, followed by Europe and Asia Pacific. Increase in demand for fuel oxygenates as fuel additives in developed economies such as the U.S., the U.K., and Germany is expected to boost the demand for fuel oxygenates during the forecast period. Furthermore, North America is a major producer of fuel oxygenates in the world. Countries such as the U.S. and Germany possess a strong distribution network of fuel oxygenated products to meet the growing needs of consumers. The U.S. manufactures substantial amount of fuel oxygenates and exports it to Europe and Asia.
The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to the increase in awareness about fuel oxygenates among consumers in the region. Rise in demand for fuel oxygenates in Asia Pacific has encouraged fuel additive manufacturers in China to establish new production lines. This is likely to boost the demand for fuel oxygenates in the country in the next few years.
Advancements in fuel additive ingredients & compositions is estimated to drive the demand for fuel oxygenates in Asia Pacific in the near future. Increase in Foreign Direct Investments (FDIs) in the oil & gas industry in developing economies of Asia Pacific is also a key factor that is anticipated to drive the fuel oxygenates market in the region during the forecast period.
The fuel oxygenates market in the Middle East is projected to expand at a rapid pace during the next few years, owing to the rise in upstream and midstream activities in the oil & gas industry in the region
The COVID-19 pandemic has adversely affected the global fuel oxygenates industry. Oil prices have dropped significantly due to failed agreements on production cuts and decline in demand for chemicals and refined products owing to industrial slowdown and travel restrictions in the wake of the global pandemic. However, easing of lockdowns is expected to offer opportunities for the fuel oxygenates market. The market is estimated to expand significantly in the long run.
Key Players in Market
Key players operating in the global fuel oxygenates market focus on distributing their products through strong distribution channels in order to increase their market share. Prominent players operating in the fuel oxygenates market include:
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Fuel oxygenates are chemical compounds comprising oxygen atom in a chain of carbon and hydrogen atoms. Fuel oxygenates are alcohols and ethers including ethanol fuel, methyl tertiary butyl ether (MTBE), ethyl tertiary butyl ether (ETBE), and tertiary amyl methyl ether (TAME). These possess high amount of oxygen and consequently can help in simple burning.
Fuel oxygenates are primarily used as fuel additives to enhance the octane number in reformulated gasoline, oxygenated fuel, and premium grades of unleaded gasoline
Technological advancements such as 100% bio-ether production, ternary blending, and conversion of tertiary amyl methyl ether (TAME) into tertiary amyl ethyl ether (TAEE) are anticipated to drive the global fuel oxygenates market during the forecast period
Key Drivers and Restraints of Fuel Oxygenates Market
Increase in adoption of green technologies in manufacture of fuel oxygenates is anticipated to boost the global fuel oxygenates market. Emergence of fuel oxygenates based on bio-feedstock to reduce smog forming precursors such as VOCs emitted from cars is propelling the demand for fuel oxygenates in the automotive & transportation industry.
Bio-ether based fuel oxygenates enhance the quality of fuel by curtailing CO2 emissions across their lifecycle and deliver superior balance between the high-speed and low-speed octane numbers (Motor Octane Number {MON} and Road Octane Number {RON}) that are required by modern cars. Therefore, demand for green fuel oxygenates is expected to increase rapidly in the next few years, as they help reduce fuel consumption, maintain costs, and exhaust emissions.
Rise in demand for green fuel oxygenates in transportation, vehicle fleet, cargo shipping, automotive, industrial, and commercial industries is projected to drive the global fuel oxygenates market
Growth in adoption rate of electric vehicles among consumers around the world is anticipated to hamper the fuel oxygenates market
The global fuel oxygenates market can be segmented based on type, fuel type, and end-user industry
In terms of type, the global fuel oxygenates market can be divided into alcohols, ethers, and others. The alcohols segment is expected to expand at a higher CAGR during the forecast period.
In terms of fuel type, the global fuel oxygenates market can be classified into petrol/gasoline and diesel. The petrol/gasoline segment is expected to expand at a high CAGR during the forecast period.
In terms of end-use industry, the fuel oxygenates market can be segregated into automotive & transportation, aerospace & defense, industrial equipment, and others. The automotive & transportation segment is estimated to hold major share of the global fuel oxygenates market in the near future.
Global Fuel Oxygenates Market: Regional Segmentation
In terms of region, the global fuel oxygenates market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
North America and Europe accounted for substantial share of the global fuel oxygenates market in 2020
In terms of region, North America is a leading consumer of fuel oxygenates, followed by Europe and Asia Pacific. Increase in demand for fuel oxygenates as fuel additives in developed economies such as the U.S., the U.K., and Germany is expected to boost the demand for fuel oxygenates during the forecast period. Furthermore, North America is a major producer of fuel oxygenates in the world. Countries such as the U.S. and Germany possess a strong distribution network of fuel oxygenated products to meet the growing needs of consumers. The U.S. manufactures substantial amount of fuel oxygenates and exports it to Europe and Asia.
The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to the increase in awareness about fuel oxygenates among consumers in the region. Rise in demand for fuel oxygenates in Asia Pacific has encouraged fuel additive manufacturers in China to establish new production lines. This is likely to boost the demand for fuel oxygenates in the country in the next few years.
Advancements in fuel additive ingredients & compositions is estimated to drive the demand for fuel oxygenates in Asia Pacific in the near future. Increase in Foreign Direct Investments (FDIs) in the oil & gas industry in developing economies of Asia Pacific is also a key factor that is anticipated to drive the fuel oxygenates market in the region during the forecast period.
The fuel oxygenates market in the Middle East is projected to expand at a rapid pace during the next few years, owing to the rise in upstream and midstream activities in the oil & gas industry in the region
The COVID-19 pandemic has adversely affected the global fuel oxygenates industry. Oil prices have dropped significantly due to failed agreements on production cuts and decline in demand for chemicals and refined products owing to industrial slowdown and travel restrictions in the wake of the global pandemic. However, easing of lockdowns is expected to offer opportunities for the fuel oxygenates market. The market is estimated to expand significantly in the long run.
Key Players in Market
Key players operating in the global fuel oxygenates market focus on distributing their products through strong distribution channels in order to increase their market share. Prominent players operating in the fuel oxygenates market include:
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
