Diesel fuel additives market set to grow
A
Frost and Sullivan product story
Edited by the Engineeringtalk editorial team
Aug 27, 2001
European legislation to reduce the pollution from diesel cars across Europe will be a significant driver in the growth of the European diesel fuel additives market, says a new report
European legislation to reduce the pollution from diesel cars across Europe will be a significant driver in the growth of the European diesel fuel additives market.
According to new research by international market analysts Frost and Sullivan, the market valued today at $260 million is forecast to grow with a compound annual growth rate of 5% to reach $367 million by 2008.
EC directive 98/70/EC states that from 2005 sulphur content should not exceed 50 parts per million (ppm) in diesel fuels sold around Europe.
This has been introduced owing to the harmful effects of Sulphur compounds on human health and their negative impact on some catalytic convertors.
However, when sulphur is removed from fuel some of the fuel's natural lubricating properties are also removed.
Lubricity improver additives are used to counteract this effect and the legislation will thus herald a growth period for lubricity improver additives.
Owing to increased pressure across Europe concerning emissions reduction and fuel economy improvements, cetane improvers which aid ignition, improve combustion and reduce emissions will also enjoy a period of growth forecasts the report.
However, in the longer term refineries may choose to meet these requirements by modification of the production process.
Philippe Roguedas Research Analyst at Frost and Sullivan adds, "another driver for the diesel fuel additive market is the penetration of diesel cars in Europe.
As diesel engines are basically more efficient than their gasoline counterparts, are lower priced and enjoy reduced fuel taxation in some countries we have seen a higher penetration of diesel vehicles in Europe.
This increase in the number of cars has compensated for their improved fuel economy and so, consumption of diesel fuel (and hence additives) in Europe is forecast to increase by over 2% per year to 2008." All in all this spells good news for the diesel fuel additive companies who will enjoy a period of growth.
However, with continued consolidation of the oil industry there will be fewer customers with increased buying power.
Moreover, the harmonisation of specifications within the EU will lead to an easier pan European purchasing strategy, which in the longer term could push prices down and make it more difficult to increase market share The report gives a comprehensive view of the Diesel and Gasoline fuel additives market in Europe.
Key forecasts for each additive, competitive analysis, pricing and volume trends are all discussed.
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