Fuel Additives Industry Applications, Growth, Size, Opportunities, Top Players, Share, Market Analysis, Trends, Segmentations, Regional Insights, Graph and Forecast
The report "Fuel Additives Market by Type (Deposit Control, Cetane Improvers, Lubricity Improvers, Cold Flow Improvers, Stability Improvers, Octane Improvers, Corrosion Inhibitors), Application (Diesel, Gasoline, Aviation Fuel) - Global Forecast to 2026", The fuel additives market is projected to reach USD 7.1 billion by 2026, at a CAGR of 3.4% from USD 6.0 billion in 2021.
Fuel additives are chemicals that are used to improve the efficiency of fuel. These additives help fuels in meeting emission control standards and improve engine or vehicle performance. Apart from these functions, fuel additives also help in the reduction of corrosion and enhance combustion in various applications in commercial, automotive, industrial, and aerospace sectors. These can be categorized into ten types- deposit control additives, cetane improvers, lubricity improvers, cold flow improvers, stability improvers, octane improvers, corrosion inhibitors, anti-icing fuel additives, dyes & markers and others. Deposit control additives had a larger share in terms of value in 2020 as compared to cetane improvers and others.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=723
Diesel is the largest application segment of the fuel additives market. North America was the largest market for fuel additives in 2020, in terms of value. Factors such as stringent governmental regulations and increase in automotive production in emerging economies will drive the fuel additives market.
“Lubricity improvers is estimated to be the fastest-growing type in the fuel additives market for the forecast period”
Lubricity improver fuel additives are added to improve the lubricity of hydro-treated diesel fuels. These additives contain a polar group that is attracted to metal surfaces, which helps to form a thin surface film. The film acts as a boundary lubricant when two metal surfaces come in contact. Most ULSD fuels contain a lubricity additive that is used to meet the various lubricity specifications. As sulfur is a natural lubricant, its reduction in the fuel necessitates the usage of lubricity improvers.
Gasoline was the second major application for the fuel additives market in 2020 in the world”
The fuel additives market size for gasoline accounted for the second-largest share of global fuel additives after diesel , in terms of value, in 2020 this was led by the demand from the automotive industry.
Most of the countries are expected to continue using unleaded gasoline fuel with a relatively higher dosing of additives than normal gasoline. Gasoline consumption is expected to increase worldwide and, subsequently, the consumption of fuel additive is expected to increase to meet the stringent environmental norms, especially in North America. This will drive the market during the forecast period.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=723
“North America is estimated to be the largest region in fuel additives market in 2020.”
The North American fuel additives market is the largest fuel additives market in the world by value. Globally, it has been leading the market with regards to demand as well as product innovation in terms of quality and application development. Due to stringent environmental regulations, the fuel additives industry is experiencing significant growth. The North American market is highly regulated with the Environment Protection Agency (EPA) playing a key role in the monitoring and commercialization of fuel additives products.
The key market players profiled in the report include Afton Chemical Corporation (US), The Lubrizol Corporation (US), Innospec Inc. (US), BASF SE (Germany), Evonik Industries AG (Germany), LANXESS AG, Chevron Oronite Company LLC (US), Dorf Ketal Chemicals (US), Infineum International Limited (UK), Cummins Inc.(US), Total SA (France), Baker Hughes (US), Clariant AG(Switzerland), Croda International PLC (UK), ENI SPA (Italy), Chempoint Solutions Company (US), Solvay S.A.(Belgium), Huntsman Corporation(US), The Dow Chemical Corporation (US), Eastman Chemical Corporation (US), Petroleum Logistics(US), Iftex Oil & Chemicals Ltd.(India), Eastern Petroleum(India), Lucas Oil Products Inc.(US) Lubricant Engineers (US) and others.
Read Our Trending Press Release Below:
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
