Sales in the global aviation fuel additives market are anticipated to increase at a 5.9% CAGR over the forecast period between 2022 and 2032, finds Future Market Insights (FMI) in a recent market analysis. The aviation fuel additives market is likely to be driven by the widespread consumption of aviation gasoline and jet fuel for commercial, business, and military aircraft.
Passengers are preferring air travel as compared to other modes owing to reduction in travelling time and comfort. Both freight activity and passenger demand are benefiting the aviation industry. These factors have led to a rise in the use of aviation fuel and fuel additives in the commercial aircraft sector. The demand for aviation fuel additives is further expected to rise due to significant advancements in military aircraft to reduce the weight and increase the efficiency.
As per FMI analysis, the market is expected to be dominated by East Asia. Backed by the aforementioned factors, the global aviation fuel additives market is projected to top US$ 1.5 Bn by 2032.
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“Increasing adoption of surveillance aircraft in the military sector, along with rising demand for sustainable aviation fuel (SAF) is anticipated to create opportunities for growth in the aviation fuel additives market,” says an FMI analyst.
- By application, demand for aviation fuel additives in commercial aircraft is expected to surge at a 2% CAGR over the forecast period.
- Sales of aviation fuel additives in the U.S. are anticipated to increase at a 4% CAGR by 2032.
- China will emerge as an attractive aviation fuel additives market, accounting for about 68% of total sales in East Asia.
- India will account for a dominant share of the South Asia aviation fuel additives market over the assessment period.
Key players in the global aviation fuel additives include Afton Chemical Corporation, BASF SE, Dorf-Ketal Chemicals India Pvt. Ltd., Hammonds, Meridian Fuels, Nalco an Ecolab Company, and Shell Chemicals.
Leading players are investing in research and development to improve their product portfolios. They are also investing in mergers, acquisitions, and collaborations to launch cost-effective, green technology-based, and effective fuel additives to reduce carbon emission. For instance:
- In September 2020, a contract for SAF in the British aviation sector was signed by Neste and Shell Aviation. Neste’s production know-how was intended to be paired with Shell Aviation’s capable fuel supply management through the deal.
More Insights into the Aviation Fuel Additives Market Report
In its latest report, FMI offers an unbiased analysis of the global aviation fuel additives market, providing historical data from 2017 to 2021 and forecast statistics for the period of 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on Additive Type (Anti-icing, Antioxidants, Corrosion Inhibitors, Antiknock, Metal Deactivators, and Others), By Fuel type (Avgas & Jet Fuel), and application (Commercial Flight (Passenger and Cargo Aircraft), Military Aircraft and Others) across six regions (North America, Latin America, Europe, East Asia, South Asia Pacific, and the Middle East & Africa).
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About FMI – Chemicals and Materials
The Chemicals and Materials division of FMI offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling, and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.