Global Fuel Additives Market Size, Share, Growth Analysis, By Application(Diesel, Gasoline), By Type(Deposit Control, Cetane Improvers)

Description

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).

Due to stringent environmental regulations and increasing demand from sectors like manufacturing, aviation, and automotive, the market is poised for rapid growth. These sectors are seeking to enhance the efficiency of fuels such as diesel, distillates, and gasoline, which helps mitigate harmful emissions and reduces combustion rates at high temperatures. In the United States, the transportation industry consumed approximately 1.1 billion barrels of distillate fuel, primarily diesel, accounting for 15% of the nation's total petroleum consumption and nearly 23% of the transportation industry's energy use. The global market is expected to expand significantly, driven by heightened demand for upgraded products from automotive and other sectors. Moreover, stringent government regulations and policies aimed at reducing carbon emissions are anticipated to further bolster the industry's growth, alongside increasing public awareness of environmental concerns.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Fuel Additives Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Fuel Additives Market Segmental Analysis

Global Fuel Additives Market is segmented based on type, application and region. By type, the market is segmented into deposit control, cetane improvers, antioxidants, lubricity improvers, detergent, corrosion inhibitors. By application, the 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.

Drivers of the Global Fuel Additives Market

Industrialization and infrastructure development in various regions, notably in emerging economies, are fueling the demand for fuel additives. The growth of industries like manufacturing, construction, and power generation requires efficient fuel utilization and enhanced equipment performance. Fuel additives play a crucial role in optimizing fuel combustion, minimizing maintenance expenses, and extending the lifespan of equipment.

Restraints in the Global Fuel Additives Market

The price instability of crude oil, a crucial raw material in fuel production, can have a substantial effect on the fuel additives market. Fluctuations in crude oil prices directly impact the production expenses of fuel additives, making it difficult for manufacturers to uphold consistent pricing and profitability. Additionally, unpredictable crude oil prices can result in uncertainty regarding fuel consumption patterns, thereby impacting the demand for fuel additives.

Market Trends of the Global Fuel Additives Market

Enhancing fuel efficiency stands as a pivotal objective for the fuel additives market. Manufacturers are actively crafting additives designed to optimize combustion, diminish friction, and elevate engine performance to bolster fuel economy. This trend emerges from the imperative to adhere to stringent emission regulations, curtail fuel consumption, and tackle the escalating costs associated with fuel.

Product Code: SQMIG15E2482

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Fuel Additives Market by Application

Market Overview
Diesel
Gasoline
Aviation Fuel

Global Fuel Additives Market by Type

Market Overview
Deposit Control
Cetane Improvers
Antioxidants
Lubricity Improvers
Detergent
Corrosion Inhibitors.

Global Fuel Additives Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Afton Chemical Corporation (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
BASF SE (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
The Lubrizol Corporation (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Innospec Inc. (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Chevron Oronite Company LLC (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Infineum International Ltd. (United Kingdom/Singapore)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Evonik Industries AG (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
TotalEnergies Additives & Special Fuels (France)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Clariant AG (Switzerland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Croda International Plc (United Kingdom)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Dorf Ketal Chemicals (India)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
LANXESS AG (Germany)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Baker Hughes Company (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Shell International Petroleum Company Limited (Netherlands/United Kingdom)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
NALCO Champion (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
A. Schulman, Inc. (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Chemtura Corporation (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Eastman Chemical Company (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Innospec Fuel Specialties LLC (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
BRB International BV (Netherlands)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Chemours Company (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
EPC Groupe (France)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Fuel Additives Market Size, Share, Growth Analysis, By Application(Diesel, Gasoline), By Type(Deposit Control, Cetane Improvers) - Industry Forecast 2024-2031