The “Fuel Additives Market by Type (Deposit Control, Cetane Improvers, Lubricity Improvers, Cold Flow Improvers, Stability Improvers, Octane Improvers, Corrosion Inhibitors), Application (Diesel, Gasoline, Aviation Fuel) – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The global fuel additives market was worth USD 6,028.8 million in 2019 and is projected to reach USD 6,808.5 million by 2025, rising at a CAGR of 3.27% between 2020 and 2025. The market is dominated by key players such as the Lubrizol Corporation (US), Chevron Oronite Company LLC (US), Innospec (US), BASF SE (Germany), and Afton Chemical Corporation (US) among others
This report segments the market for fuel additives on the basis of type, application, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and acquisitions associated with the market for fuel additives.
Stringent governmental regulations are expected to drive the fuel additives market.
The fuel additives market is largely driven by stringent government regulations in developed countries. Governments all over the world are imposing stringent environmental regulations to address growing concerns about the harmful effects of greenhouse gas (GHG) emissions. On the other hand, the rise in demand for alternate fuels is restraining the market.
The lubricity improvers segment is expected to be the fastest-growing type of fuel additives, in terms of value, between 2020 and 2025.
The lubricity improvers segment is expected to witness the highest growth, in terms of value, during the forecast period. The increasing government regulations regarding fuel emissions are mandating manufacturers to reduce sulfur levels in fuel. Due to the reduced sulfur content, the lubricity of fuel decreases. This, in turn, is driving the consumption of lubricity improvers. Moreover, there is an increase in the use of lubricity improvers for the longevity of engine life and better fuel efficiency.
Diesel is estimated to account for the largest share of the overall fuel additives market, in terms of value, between 2020 and 2025.
The market for diesel fuel additives has been driven by the developing economies of APAC. North America, and Europe that are now focusing on the use of ULSD, which has higher dosing of additives than normal diesel.
The global diesel consumption is expected to increase during the forecast period, and the quantity of additives used is likely to increase to meet stringent environmental norms. This is expected to drive the market between 2020 and 2025.
APAC is expected to be the fastest-growing fuel additives market during the forecast period.
The APAC fuel additives market is estimated to witness considerable growth during the forecast period. The fuel additives market in APAC is projected to register the highest CAGR, in terms of volume, during the forecast period. The rising awareness regarding the advantages of fuel additives plays a key role in the growth of the market in the region. The increasing emission norms in developing countries, including China and India are expected to drive the fuel additives market during the forecast period.
Key Topics Covered
2 Research Methodology
3 Executive Summary
3.1 Fuel Additives Market: Realistic, Pessimistic, Optimistic, and Non-COVID-19 Scenario
3.1.1 Non-COVID-19 Scenario
3.1.2 Optimistic Scenario
3.1.3 Pessimistic Scenario
3.1.4 Realistic Scenario
4 Premium Insights
4.1 Significant Opportunities in the Fuel Additives Market
4.2 Fuel Additives Market Size, by Region
4.3 North America Fuel Additives Market, by Application and Country
4.4 Fuel Additives Market Size, by Type
4.5 Fuel Additives Market Attractiveness
4.6 Fuel Additives Market Size, by Application and Region
5 Market Overview
5.2 Market Dynamics
18.104.22.168 Stringent Governmental Regulations
22.214.171.124 Degrading Quality of Crude Oil
126.96.36.199 Rise in Demand for Alternate Fuels
188.8.131.52 Growth in Demand for Hybrid Vehicles and Increasing Battery Price Parity
184.108.40.206 Huge Investment in R&D
220.127.116.11 Increase in Demand for Ultra-Low Sulfur…