USD 9.21 billion
Fuel Additives Market Size, Share, Growth Analysis, By Application(Diesel, Gasoline, Aviation Fuel), By Type(Deposit Control, Cetane Improvers, Antioxidants, Lubricity Improvers), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2482 |
Region:
Global |
Published Date: May, 1990
Pages:
184
|Tables:
66
|Figures:
77
Fuel Additives Market Insights
Global Fuel Additives Market size was valued at USD 9.21 billion in 2022 and is poised to grow from USD 10.40 billion in 2023 to USD 27.45 billion by 2031, at a CAGR of 12.90% during the forecast period (2024-2031).
As a result of strict environmental restrictions and rising demand from the manufacturing, aviation, and automotive industries, the market is expected to rise quickly. They support increasing the effectiveness of other fuels such as diesel, distillates, and petrol. It prevents terrible pollution discharges and lowers combustion and burn rates at high temperatures. In the United States, the transportation industry used around 1.1 billion barrels of distillate fuel, which is essentially diesel fuel. This number represented 15% of the nation's overall petroleum consumption and, when calculated according to energy composition, nearly 23% of the total energy used by the transportation industry. The global market is anticipated to expand significantly due to the growing demand for upgraded and improved products from the automotive and other end-use sectors. Another important aspect that will likely enhance the global industry is the tight regulations put in place by government organisations. The market will also profit from supportive governmental policies and more public awareness of the need to reduce carbon emissions.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Gasoline
Fastest Growth
Diesel
Growth Rate
12.90% CAGR
Global Fuel Additives Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region (%)
To get more reports on the above market click here to Buy The Report
Fuel Additives Market Segmental Analysis
Global Fuel Additives Market is segmented on the basis of type, application and region. By type, the market is segmented into deposit control, cetane improvers, antioxidants, lubricity improvers, detergent, corrosion inhibitors. By application, market is segmented into diesel, gasoline, aviation fuel. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Fuel Additives Market Analysis by Application
The gasoline segment is the largest segment of the corrosion inhibitors market. This is due to the increasing demand for fuel additives in the transportation sector. Gasoline fuel additives are used to prevent the formation of rust and corrosion in fuel tanks and engines. Gasoline additives primarily focus on improving fuel stability, preventing deposits, and enhancing combustion efficiency.
The diesel segment is expected to be the fastest-growing segment of the corrosion inhibitors market. This is due to the increasing demand for fuel additives in the transportation sector. Diesel fuel additives are used to prevent the formation of rust and corrosion in fuel tanks and engines. the widespread use of diesel fuel in transportation, industrial, and commercial sectors. Diesel fuel additives, such as deposit control additives and cetane improvers, are extensively used to optimize engine performance, reduce emissions, and improve fuel efficiency.
Global Fuel Additives Market Analysis by Type
The corrosion inhibitors segment is expected to be the dominant segment of the market during the forecast period. This is due to the increasing demand for fuel additives in the transportation sector. Corrosion inhibitors are used to prevent the formation of rust and corrosion in fuel tanks and engines. These additives protect fuel system components from corrosion caused by moisture and contaminants. The sectors utilizing corrosion inhibitors are transportation, marine, and power generation. As fuel quality and infrastructure continue to advance, the demand for corrosion inhibitors is expected to grow.
The detergents segment is expected to be the fastest-growing segment of the market during the forecast period. This is due to the increasing demand for fuel additives in the marine and aviation sectors. Detergents are used to remove deposits from fuel tanks and engines, which can improve fuel efficiency and reduce emissions
Global Fuel Additives Market By Application (%)
To get detailed analysis on other segments, Request For Free Sample Report
Fuel Additives Market Regional Insights
In 2022, Asia Pacific dominated the market and generated more than 28.0% of worldwide sales. Due to its rapid industrialization, demand for greater efficiency, and implementation of strict emission control legislation in China, India, and Japan, Asia-Pacific is predicted to develop at the greatest CAGR. Over the projection period, the Asia Pacific region's rapidly expanding automotive industry will undoubtedly have a beneficial impact on demand for fuel supplements.
North America is expected to be the Fastest growing market for fuel additives during the forecast period. This is due to the presence of a large number of automotive and transportation companies in the region. The U.S. is the growing market for fuel additives in North America. US companies are focusing on developing new and innovative fuel additives that can meet the growing demand from the transportation, marine, and aviation sectors. They are also focusing on expanding their product portfolio and geographic reach.
Global Fuel Additives Market By Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Fuel Additives Market Dynamics
Global Fuel Additives Market Drivers
Rising Industrialization and Infrastructure Development
- Industrialization and infrastructure development across regions, particularly in emerging economies, are driving the demand for fuel additives. The expansion of industries such as manufacturing, construction, and power generation necessitates efficient fuel utilization and improved equipment performance. Fuel additives help optimize fuel combustion, reduce maintenance costs, and prolong equipment life.
Increasing Adoption of Alternative Fuels
- The shift towards cleaner and sustainable energy sources, such as biofuels, natural gas, and hydrogen, is creating new opportunities for fuel additives. Additives tailored for alternative fuels help address specific challenges, such as stability, compatibility, and emissions control. As the adoption of alternative fuels increases, the demand for additives compatible with these fuels is expected to rise.
Global Fuel Additives Market Restraints
Price Volatility of Crude Oil
- The price volatility of crude oil, a key raw material in fuel production, can significantly impact the fuel additives market. Fluctuations in crude oil prices directly influence the production costs of fuel additives, making it challenging for manufacturers to maintain stable pricing and profitability. Moreover, unpredictable crude oil prices can lead to uncertainty in fuel consumption patterns, affecting the demand for fuel additives.
Request Free Customization of this report to help us to meet your business objectives.
Fuel Additives Market Competitive Landscape
Fuel Additives will experience considerable market expansion as a result of the key market players' significant financial investments in R&D to broaden their product portfolios. Market participants are engaging in a variety of strategic initiatives to extend their worldwide footprint in conjunction with important market developments such as new product releases, contractual agreements, mergers and acquisitions, higher investments, and cooperation with other organizations.
Top Player’s Company Profiles in Global Fuel Additives Market
- Afton Chemical Corporation (United States)
- BASF SE (Germany)
- The Lubrizol Corporation (United States)
- Innospec Inc. (United States)
- Chevron Oronite Company LLC (United States)
- Infineum International Ltd. (United Kingdom/Singapore)
- Evonik Industries AG (Germany)
- TotalEnergies Additives & Special Fuels (France)
- Clariant AG (Switzerland)
- Croda International Plc (United Kingdom)
- Dorf Ketal Chemicals (India)
- LANXESS AG (Germany)
- Baker Hughes Company (United States)
- Shell International Petroleum Company Limited (Netherlands/United Kingdom)
- NALCO Champion (United States)
- A. Schulman, Inc. (United States)
- Chemtura Corporation (United States)
- Eastman Chemical Company (United States)
- Innospec Fuel Specialties LLC (United States)
- BRB International BV (Netherlands)
- Chemours Company (United States)
- EPC Groupe (France)
Global Fuel Additives Market Recent Developments
- In March 2023, Lubrizol Corporation announced the launch of its new fuel additive, FuelMax. FuelMax is a high-performance additive that helps to improve fuel efficiency, reduce emissions, and protect engines from damage.
- In February 2023, Infineum International Limited announced the expansion of its fuel additive production capacity in China. The expansion will help to meet the growing demand for fuel additives in the Chinese market.
- In January 2023, Total Energies SE announced the launch of its new fuel additive, Total Quartz Clean 9000. Total Quartz Clean 9000 is a high-performance additive that helps to improve fuel efficiency, reduce emissions, and protect engines from damage.
- In December 2022, Wynns Group Limited announced the launch of its new fuel additive, Wynns Fuel System Cleaner. Wynns Fuel System Cleaner is a high-performance additive that helps to clean and protect fuel systems from deposits.
- In November 2022, Dorf Ketal Chemicals announced the launch of its new fuel additive, Dorf Ketal Fuel Conditioner. Dorf Ketal Fuel Conditioner is a high-performance additive that helps to improve fuel efficiency, reduce emissions, and protect engines from damage.
Fuel Additives Key Market Trends
- Improving fuel efficiency is a key focus area for the fuel additives market. Manufacturers are developing additives that optimize combustion, reduce friction, and improve engine performance to enhance fuel economy. This trend is driven by the need to meet stringent emission regulations, reduce fuel consumption, and address the rising cost of fuel.
Fuel Additives Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global fuel additives market is a dynamic and rapidly evolving industry that plays a crucial role in enhancing fuel performance, improving efficiency, and reducing emissions. The global fuel additives market has been experiencing steady growth over the years. Factors such as increasing fuel consumption, stringent emission regulations, and the need for fuel efficiency have been driving market expansion. The market size is influenced by various sectors, including automotive, transportation, industrial, and aviation. Additionally, the growing demand for alternative fuels and advancements in fuel additive technologies contribute to the market's overall growth. Key industry players can provide a more comprehensive understanding of the market's current and future outlook.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 9.21 billion |
| Market size value in 2031 | USD 27.45 billion |
| Growth Rate | 12.90% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Fuel Additives Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Fuel Additives Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Fuel Additives Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fuel Additives Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fuel Additives Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fuel Additives Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
