Fuel Additives Market | Covid-19 Impact Analysis

Fuel Additives Market Insights

Fuel Additives Market is likely to witness a modest CAGR of 3.4% during the forecast period. Mounting sales of automobiles worldwide, launch of improved products, increasing demand for performance products, growing awareness towards benefits of fuel additives, imposition of emission norms by governments are some of the key factors driving the market growth of the industry.

Market Share Analysis

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Fuel Additives Market Share: By Additive Type

Based on the additive type, the market is segmented as deposit control, dyes & markers, cetane improvers, lubricity improvers, cold flow improvers, octane improvers, corrosion inhibitors, stability improvers, anti-icing, and others. The deposit control segment held the largest share of the market in 2019, and is expected to register a moderate CAGR during the forecast period. The extensive use of deposit control additives in various applications is driving the growth of this segment.

Fuel Additives Market Share: By Application Type

Based on the application type, the fuel additives market is segmented as diesel, gasoline, aviation fuel, and others. The diesel segment is expected to dominate the market during the forecast period. The increasing demand for diesel fuel in military, farms & construction, and other major industries is likely to drive the growth of the segment.

Fuel Additives Market Share: By Region

In terms of regions, North America is estimated to be the largest as well as fastest-growing fuel additives market during the forecast period, with the US being the largest fuel additive consumer in the region. The country is one of the matured markets for fuel additives. The high regulation of the Environmental Protection Agency (EPA) plays a major role in the commercialization of fuel additive products in the region.

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Some of the major players in the fuel additives market are-

• Afton Chemical Corporation
• Innospec Inc.
• The Lubrizol Corporation
• BASF SE
• Infinieum Limited
• Evonik Industries AG
• Chevron Oronite Company LLC
• Lanxess
• Dorf Ketal Chemicals
• Cummins Inc.
• Cerion LLC.

Market Scope & Segmentation

Fuel Additives are a class of performance modifiers that are added to various applications like diesel, gasoline, aviation fuel, etc. to enhance certain properties and provide additional properties not present in the application. These are used as combustion modifiers, antioxidants, corrosion inhibitors and deposit control detergents. Increasing environmental regulations to become stringent and the necessity to reduce the emissions are driving the fuel additives market. The focus of government agencies on the usage of clean and efficient fuels is increasing day by day. Also, the norms for reducing vehicular emissions and improving the quality and efficiency of fuels are modified regularly. This can only be achieved by adding more efficient and effective fuel additives.  

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The fuel additives market is segmented into the following categories. 

Fuel Additives Market Size, Share, & Forecast, by Additive Type:

• Deposit Control (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Dyes & Markers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Cetane Improvers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Lubricity Improvers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Cold Flow Improvers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Octane Improvers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Corrosion Inhibitors (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Stability Improvers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Anti-icing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Additive Type Analysis: Pour Point Depressants and Conductivity Improvers)

Fuel Additives Market Size, Share, & Forecast, by Application Type:

• Diesel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Gasoline (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Aviation Fuel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Fuel Additives Market Size, Share, & Forecast, by End-Use Industry Type:

• Transportation
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (End-Use Industry Type Analysis: Passenger Vehicle, Commercial Vehicle, Off-Highway Equipment, Aircraft, and Marine Vessel)
• Oil & Gas Refinery (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Industrial
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (End-Use Industry Type Analysis: Boiler and Power Plant)

Fuel Additives Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the additive types by end-use industry type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].