Global Fuel Additives Market - Analysis, Industry Size & Share
Market Research Consultants
Updated on Jun 1, 2023
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The global fuel additives market is projected to grow at a formidable rate during the forecast period, 2023-2027. The market growth can be attributed to the stringent environmental regulations on fuel emissions and expanding automobile industries. Moreover, increasing demand for fuel efficiency and better combustion is also expected to accelerate the demand for fuel additives during the forecast period.
The Important Factors of the Global Fuel Additives Market
Besides, rising demand for advanced and improved goods and stringent restrictions implemented by governments and businesses to reduce fossil fuel consumption are projected to boost the market growth. The rising product portfolio of fuel additives, owing to the growing concerns about air pollution caused by the incomplete and complete combustion of hydrocarbons is expected to fuel the growth of the global fuel additives market.
Moreover, the degrading quality of petroleum oils that get quickly photo-oxidized and biodegraded due to the presence of marine microorganisms is supporting the rising demand for fuel additives as they preserve quality and meet government standards. This is expected further to fuel the growth of the global fuel additives market.
The global fuel additives market is segmented on the basis of type, application, and region. In 2021, the North American region led the global fuel additives market in terms of value. However, Asia-Pacific is projected to be the global leader in the fuel additives market during the forecast period owing to the growing construction, manufacturing, and automobile industries in the region with few strict regulations on fuel utilization and emission controls estimated to drive the market for fuel additives in Asia-Pacific.
Moreover, North America and Europe & CIS region both have strict fuel emission and environmental regulations will further propel the demand for the fuel additives market.
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Some of the leading players in the global fuel additives market
- Chevron Oronite Company LLC
- Fuel Performance Solutions Inc.
- The Lubrizol Corporation
- Afton Chemical Corporation
- Infineum International Ltd.
- Cerion LLC
- Cummins Inc
- BASF SE
- Chemtura Corporation
- Innospec Inc., etc.
2017 – 2020
2023 – 2027
Revenue in USD Million, Volume in Units, CAGR for 2017-2021 and 2022-2027
Revenue Forecast, Volume Forecast, Company Share, Competitive Landscape, Growth Factors, And Trends
· By Type
· By Application
Asia Pacific; Europe & CIS; North America; South America; Middle East & Africa
China, India, Japan, South Korea, Australia, Singapore, Malaysia, France, Germany, United Kingdom, Italy, Spain, United States, Mexico, Canada, Brazil, Argentina, Colombia, South Africa, Saudi Arabia, UAE, Qatar
Key companies profiled
Chevron Oronite Company LLC, Fuel Performance Solutions Inc., The Lubrizol Corporation, Afton Chemical Corporation, Infineum International Ltd., Cerion LLC, Cummins Inc, BASF SE, Chemtura Corporation, Innospec Inc.
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In this report, the global fuel additives market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Fuel Additives Market, By Type:
- Deposit Control Additives
- Dyes and Markers
- Cetane Improvers
- Stability Improvers
- Anti-Icing Fuel Additives
- Octane Improvers
- Fuel Additives Market, By Application:
- Diesel Fuel Additives
- Aviation Fuel Additives
- Gasoline Fuel Additives
- Fuel Additives Market, by Region:
- Asia Pacific
- South Korea
- Europe & CIS
- United Kingdom
- North America
- United States
- South America
- Middle East and Africa
- South Africa
- Saudi Arabia
Company Profiles: Detailed analysis of the major companies present in the global fuel additives market.