The fuel additive market is projected to top $8 billion by the year 2020, representing a compounded growth rate of about 6.9 percent from 2015. Venturing into this market can help you cash in on the projected growth and grow your fuel additive manufacturing company.
To seize these opportunities, you need to be sure that your products are efficient. Carrying out fuel analysis using the ASTM D5186 method can help you refine your products to ensure that they live up to expectations.
The Growing Efficiency of Diesel Engines
Until recently, diesel engines were considered the ugly duckling in the petroleum family. Thanks to emerging technology, this fuel is redeeming its image and making a wave in the car scene. The latest diesel engines on the market are giving the gasoline engines a run for their money.
They have frustratingly slow acceleration capabilities. Neither are they emitting billowing black smoke from the exhaust pipes. New technologies have increased the acceleration rates of a diesel engine to match that of gasoline.
Now, you have luxury sports cars and super cars that run on diesel, and their performance is just as spectacular. Better yet, these engines yield better mileage to the gallon. You get up to 35 percent more distance than a similar-sized gasoline engine.
The Growing Popularity of Diesel Cars
Buoyed by the increased efficiency of diesel engines, the American public is rethinking its stance on these cars. As of 2017, diesel-powered vehicles make about 3 percent of the automobiles on American roads. The range includes cars, trucks, SUVs, and vans. Texas has the highest number of registered diesel cars, followed by California and Michigan.
On the other hand, Wyoming, Montana, and Idaho have the highest percentage of diesel-powered vehicles. Great driving range, fuel efficiency, and towing capabilities are some of the high points of getting a diesel car.
Vehicle manufacturers are expected to add ten new models running on diesel into the U.S. market in 2019. Some of the expected popular models include the Ram 1500 and Ford F-150 pickup and GMC Silverado.
Growing Environmental Concern
As the world wakes up to the harmful effects of carbon emissions from the car engines, government agencies are tightening the loopholes. They are enacting stringent fuel emission and environmental regulations.
Environmental protection agencies are renewing their demands for cleaner and efficient fuel sources. Some of these fuels include liquefied petroleum gases and compressed natural gas. They also tend to look favorably at fuel additives that meet fuel emission standards set by regulatory authorities.
Such developments spell good fortune for the fuel additive sectors as they serve to drive up the demand. In response to the need to lower emission, there’s a growing demand for Ultra Low Sulfur Diesel across the world, a fuel that requires an extra dose of fuel additives.
Once the ugly duckling, the diesel engine is rapidly morphing into an elegant and graceful swan of the fuel sector. Thanks to growing environmental concerns, car manufacturers are forced to turn out sophisticated and more efficient diesel engines with lower emission rates. The popularity of the diesel engine spells a good fortune for the fuel additive market as it drives up the demand.