DUBLIN--(BUSINESS WIRE)--The "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 2023" report has been added to ResearchAndMarkets.com's offering.
The fuel additives market size was USD 7,141.7 million in 2017 and is projected to reach USD 8,712.5 million by 2023, at a CAGR of 3.1% between 2018 and 2023.
The fuel additives market is largely driven by stringent government regulations in developed countries. Governments all over the world are imposing stringent environmental regulations to address growing concerns about the harmful effects of greenhouse gas (GHG) emissions. On the other hand, the rise in demand for alternate fuels is restraining the market.
The fuel additives market is dominated by the key market players such as the Lubrizol Corporation (US), Chevron Oronite Company LLC (US), Innospec (US), BASF SE (Germany), and Afton Chemical Corporation (US), among others.
The lubricity improvers segment is expected to be the fastest-growing type of fuel additives, in terms of value, between 2018 and 2023
The lubricity improvers segment is expected to witness the highest growth, in terms of value, during the forecast period. The increasing government regulations regarding fuel emissions are mandating manufacturers to reduce sulfur levels in fuel.
Due to the reduced sulfur content, the lubricity of fuel decreases. This, in turn, is driving the consumption of lubricity improvers. Moreover, there is an increase in the use of lubricity improvers for the longevity of engine life and better fuel efficiency.
Diesel is estimated to account for the largest share of the overall fuel additives market, in terms of value, between 2018 and 2023
The market for diesel fuel additives has been driven by the developing economies of APAC. North America, and Europe that are now focusing on the use of ULSD, which has higher dosing of additives than normal diesel.
The global diesel consumption is expected to increase during the forecast period, and the quantity of additives used is likely to increase to meet stringent environmental norms. This is expected to drive the market between 2018 and 2023.
APAC is expected to be the fastest-growing fuel additives market during the forecast period
The APAC fuel additives market is estimated to witness considerable growth during the forecast period. The fuel additives market in APAC is projected to register the highest CAGR, in terms of volume, during the forecast period.
The rising awareness regarding the advantages of fuel additives plays a key role in the growth of the market in the region. The increasing emission norms in developing countries, including China and India are expected to drive the fuel additives market during the forecast period.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Significant Opportunities in the Fuel Additives Market
4.2 Fuel Additives Market Size, By Region
4.3 North America Fuel Additives Market, By Application and Country
4.4 Fuel Additives Market Size, By Type
4.5 Fuel Additives Market Attractiveness
4.6 Fuel Additives Market Size, By Application and Region
5 Market Overview
5.2 Market Dynamics
184.108.40.206 Stringent Governmental Regulations
220.127.116.11 Growing Automotive Industry
18.104.22.168 Degrading Quality of Crude Oil
22.214.171.124 Rise in Demand for Alternate Fuels
126.96.36.199 Huge Investment in R&D
188.8.131.52 Increase in Demand for Ultra-Low Sulfur Diesel (ULSD)
5.3 Porter's Five Forces Analysis
5.4 Industry Outlook
5.4.1 Automotive Industry
6 Fuel Additives Market, By Type
6.2 Deposit Control
6.3 Cetane Improvers
6.4 Lubricity Improvers
6.5 Cold Flow Improvers
6.6 Stability Improvers
6.7 Octane Improvers
6.8 Corrosion Inhibitors
6.9 Anti-Icing Additives
6.1 Dyes & Markers
7 Fuel Additives Market, By Application
7.4 Aviation Fuel
8 Fuel Additives Market, By Region
8.2 North America
8.5 Middle East & Africa
8.6 South America
9 Competitive Landscape
9.2 Competitive Leadership Mapping, Tier 1 Companies
9.2.1 Visionary Leaders
9.2.2 Dynamic Differentiators
9.3 Strength of Product Portfolio
9.4 Business Strategy Excellence
9.5 Competitive Leadership Mapping (Small and Medium-Sized Enterprises)
9.5.1 Progressive Companies
9.5.2 Responsive Companies
9.5.3 Dynamic Companies
9.5.4 Starting Blocks
9.6 Strength of Product Portfolio
9.7 Business Strategy Excellence
9.8 Market Share Analysis
9.8.1 Afton Chemical Corporation
9.8.2 Innospec Inc.
9.8.3 The Lubrizol Corporation
9.9 Competitive Scenario
9.9.1 New Product Launch
10 Company Profiles
10.1 Innospec Inc.
10.2 Chevron Oronite Company LLC
10.3 The Lubrizol Corporation
10.4 Afton Chemical Corporation
10.5 Evonik Industries AG
10.6 BASF SE
10.8 Dorf Ketal Chemicals
10.9 Infineum International Limited
10.10 Cummins Inc.
10.11 Cerion LLC
10.12 Other Key Market Players
10.12.1 Total S.A.
10.12.2 Baker Hughes, a GE Company LLC
10.12.3 Clariant AG
10.12.4 Croda International PLC
10.12.5 Eni S.p.A.
10.12.6 Qatar Fuel Additives Company (Qafac)
10.12.8 Huntsman Corporation
10.12.9 The Dow Chemical Company
10.12.10 Eastman Chemical Corporation
10.12.11 The Armor All/STP Products Company, a Spectrum Brands Company
10.12.12 Iftex Oil & Chemicals Ltd.
10.12.13 Eastern Petroleum
10.12.14 Lucas Oil Products Inc.
10.12.15 The Chemours Company
For more information about this report visit https://www.researchandmarkets.com/r/hz1mpy