LONDON--(BUSINESS WIRE)--The growing demand for multifunctional additives in gasoline, diesel, and other fuels will boost the need for fuel additives during the forecast period. Multifunctional additives enable fuels to comply with safety standards and deliver enhanced performance. Moreover, these additives minimize carbon emissions, improve the efficiency of biofuels, and help reduce costs. Thus, the growing interest of end-users and consumers in sustainable and environment-friendly products will result in the increased demand for multifunctional additives. Furthermore, this industry research report also presents a competitive analysis of the market based on type (deposit control additives, cetane improvers, antioxidants, cold flow improvers, lubricity improvers, corrosion inhibitors, and other types) and application (diesel fuel additives, gasoline fuel additives, aviation fuel additives, and others). The fuel additives market research report further presents in-depth insights on the growth prospects of the market across geographies including APAC, Europe, MEA, North America, and South America.
Competitive vendor landscape
The global fuel additives market is highly competitive with major vendors such as Afton Chemical, BASF SE, Chevron Corporation, Clariant, and The Lubrizol Corporation, competing on the basis of price, quality, and product/service offerings.
“APAC will account for the largest fuel additives market share throughout the forecast period. The increasing adoption of fuel additives in gasoline and diesel for various applications such as aviation is one of the major reasons for the high growth of the fuel additives market in this region,” says a senior analyst at Technavio.
Top five fuel additives market vendors
Afton Chemical develops, manufactures, and distributes petroleum additives. The company’s key offerings include driveline additives, engine oil additives, fuel additives, industrial additives, and lubricant components.
BASF SE runs its operations through four segments: chemicals, performance products, functional materials & solutions, and agricultural solutions. The company offers fuel additives under KEROPUR Fuel Performance Solutions.
Chevron Corporation runs its operations through two segments: upstream and downstream. The company offers fuel additives such as Techron Concentrate Plus Complete Fuel System Cleaner and Techron Fuel Injector Cleaner.
Clariant runs its operations through four segments: care chemicals, catalysis, natural resources, and plastics and coatings. The company offers fuel additives such as terminal fuel additives and finished fuel additives.
The Lubrizol Corporation
The Lubrizol Corporation runs its operations through two segments: Lubrizol Additives and Lubrizol Advanced Materials. The company offers a wide range of fuel additives for diesel, home heating oil, gasoline, industrial fuel, biofuels, and marine fuels.
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