Fuel Additives Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015-2020 and Forecast 2021-2027

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Global Fuel Additives Market: By Product Type (Deposit Control Additives, Cetane Improvers, Antioxidants, Dyes & Markers, Lubricity Improvers, Cold flow Improvers, Stability Improvers, Corrosion Inhibitors, Octane Improvers, Anti-icing), By Application (Diesel, Gasoline, Aviation), and Geography

 

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Description

The global Fuel Additives Market size was estimated at USD 6.6 Bn in 2021, growing at a CAGR of 3.8% during the forecast period 2021-2027. The fuel additives enhance the performance of engine for flexible use of vehicles. In seasonal variations, problems of fuel freezing, anti-knocking, corrosion is observed in the vehicles. The need for the fuel additives increased the demand in the application industries. Fuel additives should be used in small concentrations only. It is available in small ppm and several thousand ppm. The additives used should not affect other fuel components and quality of fuel. Fuel additives functions as Anti freezing agents, Anti Knocking agents, Anti- Oxidants, biocides, Anti valve additives and so on. In November 2017 – Agreement between Eni SpA and major car manufacturer FCA to reduce CO2 emissions. The Fuel Additives Market report covers exhaustive regional information, that includes North America (the USA and Canada), Europe (Germany, France, Italy, UK, Spain, Russia, Poland and Rest of Europe), Asia-Pacific (Japan, China, India, Australia & New Zealand, ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others), South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentian, Venezula, and Rest of Latin America), and Middle East and Africa (Gulf Cooperation Council (GCC) Countries, Israel, South Africa, and Rest of Middle East and Africa).

Key Developments:

On May 23, 2022, NYK and Nippon Yuka Kogyo Co., Ltd, have jointly developed a new fuel-oil additive effective in dispersing sludge & reduce the fule consumption in very low sulfur fuel oil |VLSFO. The companies have been researching the properties of VLSFO as one of the measures to comply with SOx emission requirements & in 2019 developed sludge dispersing fuel oil additive Yunic 800 VLS.

 

On March 09, 2022, Innospec, Inc., expands it’s customer technical support with new fuel technology center in Ellesmere Port, UK. With this new technology center, the company will offer first class support and fuel treatment solutions to customers which improve efficiency, boost engine performance and reduce harmful emissions.

Fuel Additives Market

MARKET SUMMARY
-
3.8% CAGR
  • Study Period– 2021 – 2027
  • Base Year– 2020
  • CAGR– 3.8%
  • Largest Market– North America
  • Fastest Growing Market– Europe

Fuel Additives Market

  • The report on the global Fuel Additives Market gives historical, current, and future market sizes (US$ Bn) on the basis of product type, application, end user and Regional Type
  • Global Fuel Additives Market gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Market Key Players
  • BASF SE
  • Afton Chemical Corporation
  • Chevron Corporation
  • Evonik Industries
  • Lanxess
  • Others
Drivers And Restraints

Fuel Additives Market

Fuel additives aid in minimizing emissions and enhancing the performance of the vehicle. Environmental concerns related to depletion of resources are creating considerable demand for fuel additives. Subsequently, public health concerns and environmental effects of the additives also come into consideration. As a result, the US Environmental Protection Agency (EPA) enacted Clean Air Act, focusing on the impacts of the fuel additives (both gasoline and diesel), which mandates the registration of fuel additives used in the automotive industry. Governments across the globe are also currently focusing on enhancing fuel economy as per the Corporate Average Fuel Economy (CAFE) standards. Such a shift in focus has further increased the importance of fuel additives. However, growing development of hybrid engines, as well as plug-in electric vehicles in developed economies are acting as hurdles for the growth of the diesel fuel additives market


North-America got significant share

Fuel Additives Market

Geographically, fuel additives market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America region 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. Growing demand for fuel additives, abundant availability of biomass feedstock used for production of biofuels and mandates issued by the US Environment Protection Agency (EPA) on biofuels consumption are anticipated to drive the demand for fuel additives in the United States.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Key Features of the Report

  • The report provides granular level information about the market size, country market share, historic market and forecast.
  • The report covers in-detail insights about the competitor’s overview, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Segmentation

Fuel Additives Market


Location

GEOGRAPHY

Frequently Asked Questions

The CAGR of the fuel additives market is 3.8% over the forecast period (2022 – 2028)

Afton Chemical Corporation, BASF SE, Chevron Corporation,Evonik Industries

 

 

The Europe is the fastest-growing region for the fuel additives market


Report

Table Of Content


Report

Company Profile

  • BASF SE
  • Afton Chemical Corporation
  • Chevron Corporation
  • Evonik Industries
  • Lanxess
  • Others

Description

The global Fuel Additives Market size was estimated at USD 6.6 Bn in 2021, growing at a CAGR of 3.8% during the forecast period 2021-2027. The fuel additives enhance the performance of engine for flexible use of vehicles. In seasonal variations, problems of fuel freezing, anti-knocking, corrosion is observed in the vehicles. The need for the fuel additives increased the demand in the application industries. Fuel additives should be used in small concentrations only. It is available in small ppm and several thousand ppm. The additives used should not affect other fuel components and quality of fuel. Fuel additives functions as Anti freezing agents, Anti Knocking agents, Anti- Oxidants, biocides, Anti valve additives and so on. In November 2017 – Agreement between Eni SpA and major car manufacturer FCA to reduce CO2 emissions. The Fuel Additives Market report covers exhaustive regional information, that includes North America (the USA and Canada), Europe (Germany, France, Italy, UK, Spain, Russia, Poland and Rest of Europe), Asia-Pacific (Japan, China, India, Australia & New Zealand, ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others), South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentian, Venezula, and Rest of Latin America), and Middle East and Africa (Gulf Cooperation Council (GCC) Countries, Israel, South Africa, and Rest of Middle East and Africa).

Key Developments:

On May 23, 2022, NYK and Nippon Yuka Kogyo Co., Ltd, have jointly developed a new fuel-oil additive effective in dispersing sludge & reduce the fule consumption in very low sulfur fuel oil |VLSFO. The companies have been researching the properties of VLSFO as one of the measures to comply with SOx emission requirements & in 2019 developed sludge dispersing fuel oil additive Yunic 800 VLS.

 

On March 09, 2022, Innospec, Inc., expands it’s customer technical support with new fuel technology center in Ellesmere Port, UK. With this new technology center, the company will offer first class support and fuel treatment solutions to customers which improve efficiency, boost engine performance and reduce harmful emissions.

ASIA PACIFIC OFFICE

Precision Business Insights, 5th Floor, Mohan’s Elite, Opp : Bharat Petroleum Pump, Khanamet Road, Hitech City, Hyderabad – 500084

EUROPE OFFICE

Precision Business Insights, Kemp House, 152 – 160 City Road, London EC1V 2NX