Global Biofuel Additives Market to Reach US$ 32.6 Billion by 2032, Accelerated by Increasing Demand for Renewable Energy Sources

July 03, 2023 | Chemical & Materials

As per the latest report by IMARC Group, titled " Biofuel Additives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," the global biofuel additives market size reached US$ 18.0 Billion in 2023. Biofuel additives are specialty chemicals that are added to biofuels to improve their performance, stability, and environmental characteristics. They are manufactured using ethanol, antioxidants, biobutanol, and detergents. Biofuel additives work by improving the overall combustion process and optimizing the properties of biofuels. They are widely used to enhance the ignition quality, reduce the likelihood of engine knock, and improve fuel efficiency. They are also used to modify the cetane number, which indicates the fuel's ignition quality. These additives can enhance the fuel's stability, lubricity, corrosion resistance, and combustion efficiency. As compared to fossil fuels, biofuel additives assist in reducing greenhouse gas emissions and enhancing engine performance, fuel efficiency, and power output. Additionally, they also can extend engine life by reducing wear and tear, thus lowering maintenance costs.

Global Biofuel Additives Market Trends:

The global biofuel additives market is witnessing significant growth propelled by the increasing demand for renewable energy sources and the rising emphasis on reducing greenhouse gas emissions. This is further bolstered by stringent government regulations and policies promoting the use of biofuels as an alternative to conventional fossil fuels. Moreover, the rising concerns regarding energy security and the need to reduce dependency on crude oil are fueling the market growth. Furthermore, the continuous advancements in biofuel production technologies, such as enzymatic conversion and microbial fermentation, and the surging focus on improving the overall performance and compatibility of biofuels with existing infrastructure and vehicle engines are augmenting the market growth. Furthermore, the increasing investments in research and development (R&D) activities to develop advanced biofuel additives with enhanced properties, including improved lubricity, stability, and cold flow properties, is further driving the market. Besides this, the rising awareness among consumers about the environmental benefits of biofuels and the increasing adoption of sustainable transportation solutions are boosting the market demand. Other factors, including the availability of abundant feedstock for biofuel production, such as corn, sugarcane, and soybean, and the escalating collaborations and partnerships between biofuel producers and additive manufacturers to develop innovative and tailored solutions, are supporting the market growth. Looking forward, the market value is projected to reach US$ 32.6 Billion by 2032, expanding at a CAGR of 6.7% during 2024-2032.

Market Summary: 

  • By the type, the market is segregated into antioxidants, corrosion inhibitors, cold flow improvers, detergents and dispersants, octane and cetane improvers, dyes and markers, and others.
  • Based on the biofuel type, the market is bifurcated into bioethanol and biodiesel.
  • By the application, the market is segmented into diesel fuel additives, heavy fuel oil additives, shipping fuel additives, gasoline fuel additives, and others.
  • On the basis of the region, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. 
  • The competitive landscape of the industry has also been examined with some of the key players being Afton Chemical Corporation (NewMarket Corporation), BASF SE, Biofuel Systems Group Ltd., Chemiphase International Ltd., Chevron Corporation, Clariant AG, Eastman Chemical Company, Evonik Industries AG, E-ZOIL, Fuel Quality Services Inc., Infineum International Limited and The Lubrizol Corporation.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Biofuel Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Afton Chemical Corporation (NewMarket Corporation), BASF SE, Biofuel Systems Group Ltd., Chemiphase International Ltd., Chevron Corporation, Clariant AG, Eastman Chemical Company, Evonik Industries AG, E-ZOIL, Fuel Quality Services Inc., Infineum International Limited and The Lubrizol Corporation
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Biofuel Additives Market to Reach US$ 32.6 Billion by 2032, Accelerated by Increasing Demand for Renewable Energy Sources
Purchase options

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-713-2163


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More