Performance Additives Market: Overview,Dynamics & Trends, Segmentation, Region-wise Outlook andKey Players
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/or advanced ignition timing. Methylcyclopentadienyl manganese tricarbonyl (MMT), toluene, and variants of trimethylbenzene are the additives used to boost the octane number of the fuel. Performance additives boost efficiency, temperatures, and pressures of the engine along with the reduction of friction between moving parts. Performance additives are based on chemicals such as mica, talc, and wollastonite, diatomite or perlite. They are essential for usage in a wide range of applications such as automotive, paint, rubber, paper, hygiene, health, and beauty that require advanced technical specifications. Performance additives can reduce emissions, improve fuel handling, increase fuel economy, lower internal deposits in the exhaust systems due to burnt fuel and protect against corrosion. Performance additive solutions help fuel marketers and fleets to maximize diesel and gasoline quality from the available fuel. They provide a cost-effective method of differentiating products in the market.
A fuel system has to be lubricated. This is critical to ensure that friction and wear within high-pressure components, such as the fuel pump, is kept at a minimum in order to ensure longevity and efficient operation. Performance additives address a wide range of issues that can have a profound effect on vehicle performance, regardless of whether the vehicle is a light-duty pickup, a Class 8 truck, or an off-road equipment or any system. In some cases, additives are required for an engine to operate smoothly. These additives make the engines more efficient with high power, and produce lower emissions. Fuel injectors are becoming smaller and more intricate. The combination of these sophisticated fuel injectors with combustion by-products and contaminants results in deposit formation that interferes with the optimal operation. Performance additives can help remove the deposits and enhance the performance.
Performance additives offers protective effects such as improving heat, light, and weather resistance to reduce color fading and loss of gloss.
Based on type, the performance additives market can be segmented into plastic additives, paint & coatings additives, pigment additives, and ink additives. In terms of end-use, the market can be segmented into packaging, household goods, automotive, industrial, and construction. Based on region, the global performance additives market can be divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Globally, the performance additives market is driven by the rising demand for these additives in packaging and household goods industries, as performance additives enhance the processability, performance, and appearance of the final product. Asia Pacific is a rapidly growing region of the performance additives market, led by the growth in investments in packaging and construction industries in the region and increase in demand for these additives in end-use industries such as automotive, packaging, household goods, construction, and industrial in major countries such as China and India.
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Key players operating in the global performance additives market include BASF SE, AkzoNobel N.V., Solvay S.A., Evonik Industries AG, and Clariant.