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Cetane Number Improver Market to grow with a CAGR of 5.2 % over the period of 2018 - 2023

Asia Pacific region holds the largest market share and growth in the Cetane Number Improver Market, and is anticipated to reach $438.61 million by 2023 at a CAGR of 7.2%.

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Cetane Number Improver Market to grow with a CAGR of 5.2 % over the period of 2018 - 2023

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  1. Cetane Number Improver Marketto grow with a CAGR of 5.2 % over the period of 2018 - 2023

  2. APAC held the largest market share and growth rate in the Cetane Number Improver Market Asia Pacific region holds the largest market share and growth in the Cetane Number Improver Market, and is anticipated to reach $438.61 million by 2023 at a CAGR of 7.2%. The APAC region is the major and fastest growing region, as emerging economies such as China and India are experiencing huge demands for diesel, as majority of passenger fleets run on diesel. Also, the largest oil refineries are situated in India, South Korea and China, which require CNI in diesel to meet the regulatory standards. By 2026, it is estimated there will be more passenger cars in the developing countries than in the OECD countries, where 68% increase in fleets over 2011-2040 will be in developing Asia. The Chinese government is currently concentrating on fuel specification and planning to implement Euro V fuel specification by 2018. So, it is projected that the CNI market will also grow at the same pace as the demand for diesel fuel in developing countries will increase in the near future. APAC CNI refinery was projected to grow at a CAGR of 6.1% to 304 KT in 2023. Contact : sales@industryarc.com

  3. Selected Market Life Cycle Analysis done in the full report • CNI Market is segmented into two groups, i.e. direct market as oil refinery and aftermarket, which includes end-user industries such as automotive manufacturing, agricultural, power generators, marine and many more. CNI is majorly used in oil refinery as compared to aftermarket. The growth of this market is estimated to increase at a faster rate, and is forecast to experience a surge of around $724 million due to the upcoming new refinery projects, and expansion of existing projects across the world. • According to recent publication of ExxonMobil Corp, it is planning a 20,000-b/d capacity expansion at its 345,000-b/d refinery in Beaumont, Texas, to hold increased processing of US light crudes. They have also completed a metallurgy upgrade project at the Beaumont refinery to enlarge the plant’s capacity to process heavy Canadian crude. • Furthermore, aftermarket accounts approximately 12% of the global CNI market. Contact : sales@industryarc.com

  4. Excerpts on Market Growth Factors • Petroleum Diesel accounts for 99% of the total CNI market whereas biodiesel is a very niche market, and is growing rapidly as environmental concerns and climate change is compelling countries to reduce greenhouse gas (GHG) emissions. • APAC is the major producer and consumer of CNI across the world. Growth in APAC is propelled by the growing markets in China and India. • Although CNI market for biodiesel is at a neophyte stage, but it has huge potential to grow in the future as technological developments will accelerate its growth at a higher level. • Increase in Passenger Fleet is driving the Cetane Number Improver Market. • The locomotive industry is a major market for CNI. Currently, Diesel locomotives are recovering from global economic recession and are expected to grow in future. • North America, Asia, Commonwealth of Independent States (CIS) countries are the major market for diesel locomotives. Contact : sales@industryarc.com

  5. Key players of Cetane Number Improver Market • Innospec Inc. • Eurenco. • NitroERG. • EPC UK • BASF SE • Lubrizol • Chevron Oronite Company LLC. Download Sample Report Contact : sales@industryarc.com

  6. You Can Customize the Report as Per Your Need. We have included Some Customization Options Analyst Briefing Company Profile Data Tables Key Contacts Contact : sales@industryarc.com

  7. About IndustryARC IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare. IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights on the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business. Contact : sales@industryarc.com

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