Global Fuel Additives Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at CAGR of 3.57% during forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Improved ecological benefits and performance features, governed and backed by various environmental and government organizations are the major driver of global fuel additives market. Fuel additives increase various characteristics of fuels. Fuel additives help to meet quality specifications of processed fuels and also facilitate operations within refinery are other. In addition, regulations from various environmental and government agencies to limit emissions and improving fuel efficiency is putting a significant impact on complete engine system and fuel components.
Based on the application segment, the diesel segment is expected to dominate the global fuel additives market during the forecast period. The dominance of the diesel segment can be attributed to the robust demand for diesel fuel additives in APAC, North America, and Europe. The demand for diesel fuel additives is expected to experience a significant rise because of their high consumption in APAC.
On the basis of type segment, the deposit control segment is estimated to hold highest CAGR during forecast period. The growth of the deposit control segment is expected to continue during the forecast period because of the increasing demand from various applications.
The company has implemented a new product launch as a part of its growth strategy. For instance, the company launched new gasoline additive technology for direct injection gasoline engines. This helped the company gain additional market share. The company has also launched a new range of marine fuel additives that comply with new regulations for the maximum sulfur content of marine fuels.
In terms of region, North America global fuel additives market is estimated to account for major share in terms of revenue in the global fuel additives market. Asia Pacific fuel additives market is anticipated to witness fastest growth in terms of revenue over the next 5 years, because of increasing demand from the automotive aviation industries in countries in this region. China fuel additives market is anticipated to account for significant share in terms of revenue in the Asia Pacific, because of increasing demand for high performance and efficient of vehicles. Increasing disposable income of people and rapid growth in urban and rural regions in countries in this region are various other factors fueling growth of petroleum industry, which in turn is expected to fuel growth of global fuel additives.
The report utilizes the latest improvements in market players during the examination of their expansion. The proficient data was accumulated, organized, and analyzed from previous and the recent year in order to build future possibilities of the fuel additives market. Furthermore, the report provides the top key players, application, types, and forecast to2022. The report also comprises the study of drivers, leading vendors, restraints, economic challenges, and trends that influence the current scenario of the market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global Fuel Additives Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the modest analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global fuel additives market.
Scope of the Global Fuel Additives Market
Global Fuel Additives Market, By Type
• Deposit Control
• Cetane Improvers
• Lubricity Improvers
• Cold Flow Improvers
• Stability Improvers
• Octane Improvers
• Corrosion Inhibitors
• Anti-Icing Additives
• Dyes & Markers
• Others
Global Fuel Additives Market, By Application
• Diesel
• Gasoline
• Aviation Fuel
• Others
Global Fuel Additives Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Fuel Additives Market
• Innospec Inc.
• Chevron Oronite Company Llc
• The Lubrizol Corporation
• Afton Chemical Corporation
• Evonik Industries AG
• BASF SE
• Lanxess
• Dorf Ketal Chemicals
• Infineum International Limited
• Cummins Inc.
• Cerion Llc
• Total Sa
• Baker Hughes, A Ge Company Llc.
• Clariant AG
• Croda International Plc
• Eni Spa
• Qatar Fuel Additives Company (Qafac)
• Solvay
• Huntsman Corporation
• The Dow Chemical Company
• Eastman Chemical Corporation
• The Armor All/Stp Products Company, A Spectrum Brands Company
• Iftex Oil & Chemicals Ltd
• Eastern Petroleum
• Lucas Oil Products, Inc.
• The Chemours Company
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