Covid-19 Impact on Biofuel Additives Market, Global Research Reports 2020-2021

The rapid increase in the global population raises the demand for food and energy for improved life. Therefore, the questions arising under the “Food vs. Fuel” debate are how much arable land is available, what should be the priority, and how should the land be used, among others. There is an increased debate on the increasing prices of food due to the crops utilized for the manufacturing of biofuels. For example, in 2012, Peter Brabeck-Letmathe, Chairman of Nestle, stated, “If no food was used for fuel, the prices would come down again-that is very clear.” In addition, Paul Conway, Chairman of Cargill, stated, "The bigger picture globally is increased urbanization, which leads to more food being consumed...there has also been an explosion in biofuel use and the financializing of the agricultural markets." The increasing number of such debates has decreased the adoption of biofuels to certain extent and the biofuel producers are conducting studies on the alternate sources of biofuels. Therefore, decreasing biofuel adoption has reduced the demand for biofuel additives across the globe.

The Food vs. Fuel debate has considerably decreased the growth of the biofuel additives market. However, with increasing advancement in second-generation biofuels, the impact of this driver is expected to decrease during the forecast period.
Biofuels are produced from the conventional feedstock or lignocellulose feedstock, which can be distinguished as first and second generation fuels. The consumption of biofuels has increased across the globe owing to its eco-friendly nature. However, there are several problems associated with their use such as high fuel foaming, injector deposits & corrosions, and low oxidation stability. Biofuel additives are specialty chemicals that are added to decrease such problems. Therefore, the market for biofuel additives is directly aligned with the production of biofuels.

This report provides a complete quantitative data and qualitative analysis on the global market for Biofuel Additives. Market size is analysed by country, product type, application, and competitors. Expanded coverage includes additional end-user industry breakdowns and in-depth producer profiles.
Prior to COVID-19, the global market for Biofuel Additives was anticipated to grow from US$ XX million in 2020 to US$ XX million by 2026; it is expected to grow at a CAGR of xx% during 2021–2026, whereas post-COVID-19 scenario, the market for Biofuel Additives is projected to grow from US$ XX million in 2020 (a change by ~XX% compared to market estimated for 2020 before the outbreak of COVID-19) to US$ XX billion by 2026; it is expected to grow at a CAGR of XX% during 2021–2026.
This report covers market size and forecasts of Biofuel Additives, including the following market information:
Global Biofuel Additives Market Size, 2019-2021, and 2020 (quarterly data), (US$ Million) & (K MT)
Global Biofuel Additives Market Size by Type and by Application, 2019-2021, and 2020 (quarterly data), (US$ Million) & (K MT)
Global Biofuel Additives Market Size by Region (and Key Countries), 2019-2021, and 2020 (quarterly data), (US$ Million) & (K MT)
Global Biofuel Additives Market Size by Company, 2019- 2020 (quarterly data), (US$ Million) & (K MT)
Key market players
Major competitors identified in this market include Lubrizol, Fuel Quality Services, Chemiphase Ltd., Clariant, Afton Chemical, E-ZOIL, Eastman, Evonik, Chevron, Biofuel Systems, etc.
Based on the Region:
Asia-Pacific (China, Japan, South Korea, India and ASEAN)
North America (US and Canada)
Europe (Germany, France, UK and Italy)
Rest of World (Latin America, Middle East & Africa)
Based on the Type:
Antioxidants
Corrosion Inhibitors
Cold Flow Improvers
Detergents & Dispersants
Octane & Cetane Improvers
Dyes & Markers
Others
Based on the Application:
Bioethanol
Biodiesel