The Global Fuel Additives market is valued at $5.47 billion and is expected to reach $10.28 billion by 2022 growing at a CAGR of 8.2% from 2014 and 2022.The factors such as rising awareness among users regarding the advantages of fuel additives, demand of high fuel efficiency, and strict regulations adopted by different countries acts as major drivers of the market. The increasing diffusion of Ultra-Low Sulphur Diesel (ULSD) is anticipated to drive the demand of market particularly in the emerging countries. The global market has promising future owing to increasing applications, technological advancements, and the rising demand from end-user industries. Asia Pacific is anticipated to lead the market in terms of consumption due to fuel demand from the developing economies such as India, Japan, and China. Increase in vehicle fleet particularly in India and China are fueling the market growth.
The North American market will also continue to grow at a higher rate driven by the strict environmental regulations. The increasing demand from end user markets is a major factor favoring the North American market. The increasing environmental interference to lessen emission of harmful gases into atmosphere has been driving the market in Europe. Diesel additives segment is the largest application segment accounted for nearly 50% of the total demand owing to growing consumption of ULSD, which requires more dosing of additives. Gasoline emerged as the top fuel, the demand for gasoline has highest growth only in the U.S. due to the country's increasing consumption of gasoline. Deposit control additives dominated the additives market worldwide and accounted for more than 30% of the total demand. The increasing demand for detergents as additives in fuel acts as a major factor increasing the sale of deposit control additives.
The key players in the Fuel Additives market include BASF SE, Innospec Inc., Albemarle Inc., Evonik Industries Ag, Chemtura Corporation, Chevron Oronite Incorporation, The Lubrizol Corporation, Afton Chemical Corporation, Infineum International Ltd., and Dorf-Ketal Chemicals India Private Limited.
Types Covered:
• Antioxidants
• Cetane Improvers
• Corrosion Inhibitors
• Deposit Control Additives
• Lubricity Improvers
• Others
Applications Covered:
• Gasoline
• Diesel
• Aviation Fuel
• Marine Fuel
• Others
Regions Covered:
• North America
o US
o Canada
• Europe
o Germany
o France
o Italy
o UK
o Spain
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o Rest of Asia
• Rest of the World
o Latin America
o Middle East
o Africa
o Others
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 8 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements