Automotive Additive Market: By Plastic, Polyurethane, Poly-Vinyl Chloride, Acrylonitrile Butadiene Styrene ), By Plastic Additive By Vehicle, By Application, and Geography
Automotive Additive Market size was valued at US$ 9,604.4 million in 2023 and is anticipated to grow at a CAGR of 5.8% during 2024-2030. Automotive additives are substances that are used in vehicles to enhance various aspects of performance, efficiency, and maintenance. These additives are often mixed with fuels, lubricants, and other automotive fluids to improve certain characteristics of the vehicle's engine, transmission, fuel system, and more. Automotive additives serve a variety of purposes, including improving fuel economy, reducing emissions, preventing engine deposits, protecting components from wear and tear, and maintaining optimal engine performance. They can be formulated to address specific challenges and requirements in different vehicle systems.
Stringent emission regulations play a pivotal role in driving the revenues of the automotive additive market. As governments worldwide implement increasingly stringent emissions standards to address environmental concerns and reduce air pollution, automotive manufacturers are compelled to develop vehicles that meet these regulations. Automotive additives become essential tools in achieving compliance. Moreover, the surge in rising vehicle ownership is a compelling driver behind the increased sales of automotive additives. As the global population grows and urbanization continues, the demand for personal and commercial vehicles is on the rise. As the number of vehicles on the roads continues to grow, vehicle owners and fleet managers are showing a heightened interest in maximizing the longevity and effectiveness of their vehicles. Automotive additives have emerged as a cost-efficient solution for tackling maintenance concerns, optimizing engine operation, and improving fuel efficiency.
However, some additives might have environmental implications, such as residues or byproducts that could potentially harm ecosystems. This environmental concern posed as a potential restraint to the growth of the automotive additives market. Meanwhile, the rise of electric and hybrid vehicles offers new opportunities for specialized additives that cater to the unique lubrication, cooling, and performance needs of these vehicles' drivetrains and components. Key manufacturers are developing various innovative solutions to cater to the automotive industries. For instance, in June 2020, Vestige Marketing launched the Mach-Drive Nanoenergizer, an engine oil additive that enhances the longevity of the engine, and reduces engine drag, friction, and noise.
Study Period
2024-2030Base Year
2023CAGR
5.80%Largest Market
Asia PacificFastest Growing Market
Asia Pacific
Growing demand of fuel which enhances its efficacy coupled with the preference of high quality cars instead of low quality cars has up surged the growth of automotive additive market. With the increasing pollution and environmental thereat imposed due to the use of conventional fuel there is a rise in demand for the use of automotive additives. This is considered to be one of the factor which has positively impacted the growth of automotive additives in the market. The growing trend of electric vehicles is also a major factor that has contributed to the growth of this market. However, volatility in prices of additives, the high price of the oil and fuel automotive additives and the engine downsizing trend going on in the automobile industries, are the factors that are expected to affect the growth of automotive additives market.
Asia Pacific Market is expected to grow and become the largest market for automotive additives by the end of the year 2017. The reason behind this is that the Asia-Pacific region is the hub for the production of passenger cars and electric automobiles. China being the largest market for automotive additives in the region. Furthermore, the electrification of vehicles is also driving the automotive additives market in this region. The region is focusing on manufacturing fuel-efficient vehicles by reducing the overall weight of the vehicle. This is also helping to boost the automotive additives market in the region. North America Automotive Additive Market is growing at a healthy rate, owing to the increasing government regulations on emissions, along with increasing investments in the development of newer additives. Gasoline fuel additives have been one of the most dynamic segments of the industry in the past decade and will continue to offer opportunities, especially, for better performing products. Additionally, fuel ethanol is the most excessively used fuel additive in the United States.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 9,604.4 million |
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Market CAGR |
5.80% |
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By Plastic Type |
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By Plastic Additive |
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By Vehicle Type |
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By Application |
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The Automotive Additive Market size was valued at US$ 9,604.4 Million in 2023
The development of bio-based and environmentally friendly additives and the manufacture of multifunctional additives are some of the major trends in the automotive additive market.
The evolving landscape of the automotive industry and changing consumer preferences are some of the key opportunities for companies to enhance their revenue over the forecast years.
| 1.Executive Summary |
| 2.Global Automotive Additive Market Introduction |
| 2.1.Global Automotive Additive Market - Taxonomy |
| 2.2.Global Automotive Additive Market - Definitions |
| 2.2.1. By Plastic Type |
| 2.2.2. By Plastic Additive |
| 2.2.3. By Vehicle Type |
| 2.2.4. By Region |
| 3.Global Automotive Additive Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Automotive Additive Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Automotive Additive Market By Plastic Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Polypropylene (PP) |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Polyurethane (PUR) |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Poly-Vinyl Chloride (PVC) |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Acrylonitrile Butadiene Styrene (ABS) |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6.Global Automotive Additive Market By Plastic Additive, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Plasticizers |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Anti-Scratch |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Stabilizers |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Antioxidant |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Others |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 7.Global Automotive Additive Market By Vehicle Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Passenger Vehicle |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Light Commercial Vehicle |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Heavy Commercial Vehicle |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Electric Car |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 8.Global Automotive Additive Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Automotive Additive Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Plastic Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Polypropylene (PP) |
| 9.1.2.Polyurethane (PUR) |
| 9.1.3.Poly-Vinyl Chloride (PVC) |
| 9.1.4.Acrylonitrile Butadiene Styrene (ABS) |
| 9.2. Plastic Additive Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Plasticizers |
| 9.2.2.Anti-Scratch |
| 9.2.3.Stabilizers |
| 9.2.4.Antioxidant |
| 9.2.5.Others |
| 9.3. Vehicle Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Passenger Vehicle |
| 9.3.2.Light Commercial Vehicle |
| 9.3.3.Heavy Commercial Vehicle |
| 9.3.4.Electric Car |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Automotive Additive Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Plastic Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Polypropylene (PP) |
| 10.1.2.Polyurethane (PUR) |
| 10.1.3.Poly-Vinyl Chloride (PVC) |
| 10.1.4.Acrylonitrile Butadiene Styrene (ABS) |
| 10.2. Plastic Additive Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Plasticizers |
| 10.2.2.Anti-Scratch |
| 10.2.3.Stabilizers |
| 10.2.4.Antioxidant |
| 10.2.5.Others |
| 10.3. Vehicle Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Passenger Vehicle |
| 10.3.2.Light Commercial Vehicle |
| 10.3.3.Heavy Commercial Vehicle |
| 10.3.4.Electric Car |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 11.Asia Pacific (APAC) Automotive Additive Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Plastic Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Polypropylene (PP) |
| 11.1.2.Polyurethane (PUR) |
| 11.1.3.Poly-Vinyl Chloride (PVC) |
| 11.1.4.Acrylonitrile Butadiene Styrene (ABS) |
| 11.2. Plastic Additive Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Plasticizers |
| 11.2.2.Anti-Scratch |
| 11.2.3.Stabilizers |
| 11.2.4.Antioxidant |
| 11.2.5.Others |
| 11.3. Vehicle Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Passenger Vehicle |
| 11.3.2.Light Commercial Vehicle |
| 11.3.3.Heavy Commercial Vehicle |
| 11.3.4.Electric Car |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Automotive Additive Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Plastic Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Polypropylene (PP) |
| 12.1.2.Polyurethane (PUR) |
| 12.1.3.Poly-Vinyl Chloride (PVC) |
| 12.1.4.Acrylonitrile Butadiene Styrene (ABS) |
| 12.2. Plastic Additive Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Plasticizers |
| 12.2.2.Anti-Scratch |
| 12.2.3.Stabilizers |
| 12.2.4.Antioxidant |
| 12.2.5.Others |
| 12.3. Vehicle Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Passenger Vehicle |
| 12.3.2.Light Commercial Vehicle |
| 12.3.3.Heavy Commercial Vehicle |
| 12.3.4.Electric Car |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Automotive Additive Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Plastic Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Polypropylene (PP) |
| 13.1.2.Polyurethane (PUR) |
| 13.1.3.Poly-Vinyl Chloride (PVC) |
| 13.1.4.Acrylonitrile Butadiene Styrene (ABS) |
| 13.2. Plastic Additive Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Plasticizers |
| 13.2.2.Anti-Scratch |
| 13.2.3.Stabilizers |
| 13.2.4.Antioxidant |
| 13.2.5.Others |
| 13.3. Vehicle Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Passenger Vehicle |
| 13.3.2.Light Commercial Vehicle |
| 13.3.3.Heavy Commercial Vehicle |
| 13.3.4.Electric Car |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Akzo Nobel N.V. |
| 14.2.2.BASF SE |
| 14.2.3.Clariant |
| 14.2.4.Covestro AG |
| 14.2.5.The Dow Chemical Company |
| 14.2.6.Evonik Industries |
| 14.2.7.ExxonMobil Corporation |
| 14.2.8.Kaneka Corporation |
| 14.2.9.Lanxess |
| 14.2.10.PolyOne Corporation |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.
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