The Biofuel Additive Market and Expected Growth
Increasing concerns around fuel sustainability, availability, fuel quality and the impact on the environment are all contributing factors to the increased demand for biofuels.
Stricter regulations from governing bodies along with incentives to reduce greenhouse gas emissions from crude oil have equally contributed to such a high demand for biofuels over the past decade and will continue to influence this as government targets rise.
The more biofuel being produced, the more need there is for biofuel additives - specialised products added to biofuel to increase useability, improve fuel quality and reduce risk of other issues such as bacterial contamination.
The Biofuels Additive Market has forecast further substantial growth in the biofuel additive industry based on 15% growth between 2016-2020 and despite the impact of the COVID-19 pandemic, production of biofuels and biofuel systems continues to increase.
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