The global Gasoline Antiknock Agent Market generated revenue of around USD 15.32 million in 2020 and anticipated to grow at a CAGR of over 1.2% during the forecast period from 2021 to 2027 to reach around USD 19.11 million in 2027.
Engine knocking or pinging is caused by gasoline or petrol, which is needed in high compression internal combustion engines. Engine knocking happens when the engine is started before the spark is properly timed. The use of an anti-knock agent reduces engine knocking by raising the octane amount of gasoline. Antiknock additive, also known as fuel soluble additives, is a mixture of antiknock additive and gasoline. Antiknock additives are made from raw materials and fractions including high-octane hydrocarbons and aromatic amines with highly advanced chemistry.
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Key Trends in Global Market
High Demand in Automotive Sector
Over the next five years, the global anti-knock preparation market is projected to expand at a faster pace. The market’s rapid growth can be attributed to increased demand from the automotive industry. Antiknock agents work in a similar way to fuel additives, which are used to keep engines from knocking. Antiknock agents are used to increase the octane rating of gasoline, which is expected to drive market demand for antiknock agents over the forecast period.
Impact of COVID 19 on Global Market
COVID-19 disease started to spread around the world in the first half of 2020, infecting millions of people worldwide, prompting major countries around the world to impose foot bans and work stoppage orders. Most industries have been severely impacted, with the exception of medical supplies and life support devices, and the Gasoline Antiknock Agent industries.
Global Gasoline Antiknock Agent Market by Product Type Insights
Ethers Antiknock Agent and Metal Antiknock Agent are some of the major types of Gasoline Antiknock Agent. Ethers Antiknock Agent segment accounted for the largest share in 2020 of the global market in 2020.
Global Market by Application Insights
Global market is segmented based on application as Commercial Vehicle and Passenger Car. Commercial Vehicle accounted for the largest share of the world’s market in 2020.
Global Market by Regional Insights
The Asia-Pacific region is expected to dominate the market during the forecast period, with massive growth. With strong economic development, favorable laws and regulations regarding the use of fuel additives, rising disposable income, growing manufacturing activities, and substantial investment by leading industry players considering potential growth opportunities in the region, countries like India, China, and Singapore are leading the Asia-Pacific sector.
Global Gasoline Antiknock Agent Market Competitive Landscape
Most prominent players in the global market include Shandong Dongchang Fine Chemical Technology, Simagchem, Wuxi Weite New Engery, CAREX Canada, and Yingkou Tanyun Chemical. The report covers very detailed profiles of these key players.
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Market Segmentation
Global Gasoline Antiknock Agent Market by Product Type, 2015 – 2027
· Ethers Antiknock Agent
· Metal Antiknock Agent
Global Gasoline Antiknock Agent Market by Application, 2015 – 2027
· Commercial Vehicle
· Passenger Car
Global Gasoline Antiknock Agent Market by Region, 2015 – 2027
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East and Africa
Global Gasoline Antiknock Agent Market: Key Players
· Simagchem
· CAREX Canada
· Wuxi Weite New Engery
· Shandong Dongchang Fine Chemical Technology
· Yingkou Tanyun Chemical
. Others
Browse the full report at https://www.credenceresearch.com/report/gasoline-antiknock-agent-market
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