Hindered Phenols Fuel Antioxidant Additives Market Size, Share Global Analysis To 2028
The global hindered phenols fuel antioxidant additives market size was valued at USD 45.5 billion in 2021 and is poised to grow at a significant CAGR of 5.2% during the forecast period 2022-28. Gasoline antioxygen is a sort of fuel additive that aids in corrosion and oxidation prevention. It's also referred to as an antioxidant. Antioxidants in gasoline are used to increase fuel stability, performance, and storage life. In gasoline, unstable species produce free radicals, which mix with oxygen to produce more free radicals, which then react with olefinic chemicals to form gums in a chain reaction. If left unchecked, this oxidative chain reaction accelerates, releasing increasing numbers of free radical and/or peroxide species. Antioxidants work by interrupting chain propagation stages, degrading peroxides, and trapping free radicals. Free radicals are intercepted by hindered phenols, which generate stable hampered radicals that do not propagate further. Treat rates typically range from 9 to 100 mg/kg. The calamity of COVID-19, which the World Health Organization has labelled a pandemic, has had a significant influence on world economic growth. The COVID-19 pandemic, which halted most industrial activities in 2020, had an impact on the fuel antioxidants market. One of the primary reasons impeding the market's growth is the decline in car sales.
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The natural source type category is expected to increase strongly throughout the forecast period, despite having a relatively modest proportion of the worldwide phenolic antioxidants market. Increased demand from food and feed additive applications is a significant facilitator for the development of the comes from natural type phenolic antioxidants market. Furthermore, the changing demographic trend in developing countries is driving demand for nutrient-dense foods. Moreover, rising health concerns would propel the natural phenolic antioxidants market forward over the forecast period. The natural segment of the worldwide phenolic antioxidants market is predicted to rise 1.5X in value between 2018 and 2026, as per the estimation.
The global hindered phenols fuel antioxidant additives market segmentation:
- By Product Type: 2,6-di-tert-butylphenol, BHT, Tris(3,5-di-tert-butyl-4-hydroxybenzyl) isocyanurate, Tributyl Cresyl Butane, 4,4′-Butylidenebis, Octadecyl Propionate, and Pentaerythritol Tetrakis
- By Application: Diesel Fuel Additives, Aviation Fuel Additives, Gasoline Fuel Additives, Others
In the next years, the Asia Pacific region is likely to lead the worldwide phenolic antioxidants market. This is primarily owing to the presence of major corporations in the area. Furthermore, China accounts for about a quarter of all phenolic antioxidants in terms of volume. The revenue raised by these countries is projected to fuel the global market for phenolic antioxidants in the future years.
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There are several industry players working in the Hindered Phenols Fuel Antioxidant Additives Market, which include Songwon, Oxiris, Dorf Ketal, Nalco, Biofuel Systems Group, SI Group
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