Fuel Additives Market - Forecast(2021 - 2026)
Global Fuel Additives Market Outlook World Bank estimates that more than a whopping $600 million passenger cars travel the roads of the world today. Furthermore, according to the International Organization of Motor Vehicle Manufacturers (OICA), more than 97 million motor vehicles were produced in 2017 with a production growth rate of 2.36% as compared to the previous. The figure translates to billions of liters of fuel consumed on a daily basis across the globe. Now, since fuel utilizes fuel additives for several benefits such as efficiency enhancement, vehicle durability, and pollution control, this becomes a major driving factor leading to the fuel additives market growth. The fuel additives market size is $5059 million, according to a latest business intelligence report from IndustryARC, and the market will robustly grow at a CAGR of around 4.8% during the forecast period of 2019-2025. The report comprises of fuel additives market analysis with well-marshaled facts and statistics