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Gasoline Antiknock Agent Market (1.2% CAGR): Global Size & Growth Analysis By Credence Research
The global 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.
By: Credence Research
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 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.
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