Global fuel additive market growth is driven by stringent regulations regarding fuel efficiency and vehicular emissions. Fuel additives are formulated chemicals that are added to vehicular fuels like gasoline and diesel to enhance performance characteristics. These help in improving fuel combustion, inhibiting corrosion, enhancing lubricity, controlling deposits and cleaning engines. With growing awareness about environmental protection and sustainable transportation, there will be huge demand for high-performance fuel additives from automakers. Furthermore, rapid industrialization and infrastructure development across emerging economies have also significantly boosted commercial vehicle fleet, thus, augmenting consumption of diesel engine fuel and associated additives.
Market Dynamics:
Stringent norms regarding vehicular emissions and fuel efficiency standards set by regulatory bodies around the world can boost adoption of sophisticated fuel additives. Growth in international trade, urbanization and industrial & agricultural activity has led to considerable rise in transportation via road, rail, sea and air, thus, boosting need for superior quality fuels and additives.
Volatility in raw material prices poses a major challenge for fuel additive manufacturers. Moreover, availability of crude oil-based substitutes at lower costs can also hamper the market growth.
Ongoing research & development of bio-based and synthetic additives for renewable fuels like ethanol and biodiesel can open up new avenues
Key features of the study:
- This report provides in-depth analysis of the global fuel additive market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global fuel additive market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include TotalEnergies, BASF SE, Evonik Industries AG, The Lubrizol Corporation, Chevron Oronite Company LLC, Afton Chemical Corporation, Innospec Inc., Infineum International Limited, Dorf Ketal Chemicals, Lanxess, Cummins Inc., Baker Hughes Company, Clariant AG, Solvay, Huntsman Corporation, Exxon Mobil Corporation, Qatar Fuel Additives Company (Qafac), Eastman Chemical Company, Cargill Incorporated, and The Dow Chemical Company
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- Global fuel additive market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global fuel additive market
Detailed Segmentation-
- Type Insights (Revenue, USD Bn, 2019 - 2031)
- Deposit Control Additives
- Octane Boosters
- Lubricity Additives
- Cold Flow Improvers
- Antioxidants
- Others
- Fuel Type Insights (Revenue, USD Bn, 2019 - 2031)
- Gasoline
- Diesel
- Aviation Fuel
- Others
- Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- TotalEnergies
- BASF SE
- Evonik Industries AG
- The Lubrizol Corporation
- Chevron Oronite Company LLC
- Afton Chemical Corporation
- Innospec Inc.
- Infineum International Limited
- Dorf Ketal Chemicals
- Lanxess
- Cummins Inc.
- Baker Hughes Company
- Clariant AG
- Solvay
- Huntsman Corporation
- Exxon Mobil Corporation
- Qatar Fuel Additives Company (Qafac)
- Eastman Chemical Company
- Cargill Incorporated
- The Dow Chemical Company
