Fuel Additives Market Size, Share, Opportunities, And Trends By Type (Deposit Control Additives, Cetane Improvers, Antioxidants, Dyes, Lubricity Additives, Corrosion Inhibitors, Others), By Application (Gasoline, Diesel, Others), And By Geography - Forecasts From 2019 To 2024

Fuel additives help improve the efficiency of fuels like gasoline and diesel. The fuel additives market can broadly be classified into, refinery products like antioxidants, distribution system products like corrosion inhibitors and automotive performance enhancement products like deposit control additives and cetane improvers. In 2021, the market for fuel additives is projected to reach US$9.784 billion, increasing from US$6.394 billion, growing at a CAGR of 7.35% during the forecast period. Factors driving growth in the market are stringent government regulations for fuel efficiency and environmental protection, increasing demand for ultra-low Sulphur diesel and increased automobile production in large markets.  Asia Pacific region is projected to witness high growth over the forecast period on account of rising automobile sales in the region.

Research Methodology

This section provides an anatomy of the research process followed for calculating market size and forecasts along with a list of the secondary data sources used and the primary inputs which were taken for data validation. It also provides an outline of the various segmentations which have been covered as part of the report.

Market Dynamics

In this section, the entire market is explained along with various drivers, restraints, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.

Segmentation

Fuel Additives Market has been segmented on the basis of type, application, and geography as follows:

By Type

Deposit Control Additives

Cetane Improvers

Antioxidants

Dyes

Lubricity Additives

Corrosion Inhibitors

Others

By Application

Gasoline

Diesel

Others

By Geography

Americas

North America

South America

Europe Middle East and Africa

Europe

The Middle East and Africa

Asia Pacific

Market Players

The competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Afton Chemical Corporation, BASF, Lubrizol Corporation and Huntsman Corporation among others.