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.
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