Fuel Additives Market - Growth, Trends, and Forecast (2019 - 2024)

The Market is Segmented by Product Type (Deposit Control, Cetane Improvers, Lubricity Additives, Antioxidants, Anti-corrosion, Cold Flow Improvers, Antiknock Agents, and Other Product Types), Application (Diesel, Gasoline, Jet Fuel, and Other Applications), and Geography (Asia-Pacific, North America, South America, Europe, and Middle East & Africa).

Market Snapshot

Fuel Additives Market - Market Summary
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Market Overview

The market for fuel additives is expected to register a CAGR of 4.92%, during the forecast period of 2019-2024. One of the major factors driving the market studied is the enactment of stringent environmental regulations. However, Increasing demand and penetration of battery electric vehicles (BEVs) are likely to restrain the market growth, during the forecast period.

  • Rising global passenger traffic contributing to the growth of the aviation market may also boost the demand for fuel additives.
  • Accelerating demand for ultra-low-sulfur diesel (ULSD) is likely to act as an opportunity for the market growth, in the future.
  • In 2018, North America dominated the fuel additives market, owing to the high demand from end-user industries.

Scope of the Report

The scope of the fuel additives market report includes:

Product Type
Deposit Control
Cetane Improvers
Lubricity Additives
Antioxidants
Anticorrosion
Cold Flow Improvers
Antiknock Agents
Other Product Types
Application
Diesel
Gasoline
Jet Fuel
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Rest of the Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa (MEA)

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Key Market Trends

Gasoline to Dominate the Market Studied

  • In 2018, gasoline was the major application of fuel additives in terms of market share.
  • Gasoline engine technologies and fuels are constantly evolving and providing new challenges. The growth in the consumption of gasoline additive largely reflects the requirements of engine design and developments in refinery operations. Also, the additive cost is less than 0.3% of the average retail gasoline price.
  • There are two areas of applications for fuel additives in gasoline engines, namely, refinery fuel distribution system and vehicle system.
  • The increasing popularity of new age fuel delivery systems, like gasoline direct injection (GDI) system, is likely to boost the demand for fuel additives.
  • Global Bioenergies, a French-German company, has started manufacturing bio-based fuel additives, by using bio-based isobutene as raw material. Efforts are also being made by several research instituions to manufcature fuel additives, which prevent the premature ignition of air-fuel mixture by increasing the knock resistance.
  • Hence, owing to the above-mentioned reasons, the gasoline-related applications of fuel additives are likely to account for the highest market share, during the forecast period.
Fuel Additives Market - Segmentation

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Asia-Pacific to Witness the Highest Growth Rate

  • The Asia-Pacific fuel additives market is likely to witness a major growth during the forecast period, owing to the high demand from countries, like India and China.
  • China is the largest fuel consumer in the Asia-Pacific region, and second in the world, after the United States. The country has the world's largest automobile industry and one of the biggest markets for civil aircraft sales.
  • India also has a great potential for future market opportunities. The automotive industry of the country is witnessing a steady growth, owing to an 8% increase in the production recorded in 2018, over the previous year.
  • Additionally, according to the International Air Transport Association (IATA), India is one of the fastest growing domestic markets, worldwide, with an anticipated count of 337 million domestic passengers and 84 million international passengers to travel, by 2030.
  • Hence, Asia-Pacific is likely to witness the highest growth rate, during the forecast period.
Fuel Additives Market - Regional Trends

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Competitive Landscape

The market for fuel additives is fairly consolidated, with the top five players accounting for a major chunk of the market. Afton Chemical Corporation is the market leader, with an extensive product portfolio of fuel additives, such as gasoline fuel additive packages and diesel fuel additive packages. It is followed by the Lubrizol Corporation, Innospec, Lanxess, and BASF SE, in terms of the market share.

Major Players

  1. Afton Chemical
  2. The Lubrizol Corporation
  3. Innospec
  4. LANXESS

* Complete list of players covered available in the table of contents below

Fuel Additives Market - Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Enactment of Stringent Environmental Regulations

      2. 4.1.2 Rising Global Passenger Traffic Contributing to the Growth of the Aviation Market

    2. 4.2 Restraints

      1. 4.2.1 Increasing Demand and Penetration of Battery Electric Vehicles (BEVs)

      2. 4.2.2 High Costs of R&D Activities

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Patent Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Deposit Control

      2. 5.1.2 Cetane Improvers

      3. 5.1.3 Lubricity Additives

      4. 5.1.4 Antioxidants

      5. 5.1.5 Anticorrosion

      6. 5.1.6 Cold Flow Improvers

      7. 5.1.7 Antiknock Agents

      8. 5.1.8 Other Product Types

    2. 5.2 Application

      1. 5.2.1 Diesel

      2. 5.2.2 Gasoline

      3. 5.2.3 Jet Fuel

      4. 5.2.4 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 ASEAN Countries

        6. 5.3.1.6 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 France

        3. 5.3.3.3 United Kingdom

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of the Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa (MEA)

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Afton Chemical

      2. 6.4.2 Baker Hughes (General Electric)

      3. 6.4.3 BASF SE

      4. 6.4.4 Chevron Corporation

      5. 6.4.5 Clariant

      6. 6.4.6 Croda International PLC

      7. 6.4.7 Dorfketal Chemicals (I) Pvt Ltd

      8. 6.4.8 Eni SpA

      9. 6.4.9 Evonik Industries AG

      10. 6.4.10 Exxon Mobil Corporation

      11. 6.4.11 Innospec Inc.

      12. 6.4.12 LANXESS

      13. 6.4.13 QAFAC

      14. 6.4.14 Royal Dutch Shell PLC

      15. 6.4.15 The Lubrizol Corporation

      16. 6.4.16 Total SA

      17. 6.4.17 VeryOne SaS (EURENCO)

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Accelerating Demand for Ultra-low-sulfur Diesel (ULSD)

**Subject to Availability

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