Fuel Additives Market, By Product Type (Deposit Control, Cetane Improvers, Lubricity Additives, Antioxidants, Anticorrosion, Cold Flow Improvers, Antiknock Agents, and Other Product Types), By Application (Diesel, Gasoline, Jet Fuel, and Other Applications), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

Report Code: PMI415020 | Publish Date: December 2023 | No. of Pages: 146

Global Fuel Additives Market Overview

Introduction:

Fuel additives play a significant role in improving performance and efficiency of numerous end-use applications. Fuel additives are chemicals which are used in various refinery fuels to improve performance characteristics of fuel. Emissions caused by fuel are very harmful for environment and human health. These fuel additives enhances efficiency of fuels and helps to increase characteristics such as improvement in reduced emissions, octane number, improved cetane number, and others. Corrosion effects caused by the fuel inside engines are reduced with the help of fuel additives. They also enhance combustion properties of fuels. The Global Fuel Additives Market accounted for US$ 5.5 billion in 2020 and is estimated to be US$ 7.0 billion by 2030 and is anticipated to register a CAGR of 2.5%.

Global Fuel Additives Market Dynamics

                                                          

Enactment of Stringent Environmental Regulations

In the recent years, due to the rising awareness regarding environmental pollution the sales of internal combustion engines, which are the main source of environmental pollution, declined significantly. Since the past few decades, the pollution caused by automotive had been increasing drastically, and it is estimated that about 30% of air pollution is primarily due to automotive emission. Sudden rise in automotive pollution considerably impacted the environment, intensifying the threat of air pollution in most of the big cities worldwide. The international shipping industry is termed as one of the main atmospheric polluters. By 2050, it is estimated to account for 17% of global emissions, in terms of greenhouse pollutants. Moreover, the shipping industry contains activities, like the burning of various fuel types. Marine bunker fuel is manufactured from the refinery waste, however, volatile and valuable fractions are extracted from the crude oil.

Increasing Global Passenger Traffic Contributing To the Growth of the Aviation Market

Fuel additives are used to improve fuel performance in the aviation market, by eliminating undesirable effects and meeting specific requirements of certain aircraft or airline operators. They are added in quantities that are often only measurable in parts per million. As per the data published by International Air Transport Association (IATA), the global revenue passenger kilometers (RPKs) recorded an increase of 7.6%, in 2017. At the same time, the industry-wide load factor increased by 0.9%, registering a record calendar-year high of 81.4%.

High Costs of R&D Activities

In industry, innovation through R&D remains a constant, based on change, to meet. For instance, the demands from environmental legislation, with consequent effect on fuel specifications. Such activities have significant cost implications, as does the need to comply with European REACH regulations linked to health and safety legislation.

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Global Fuel Additives Market Segmentation

                                      

The global fuel additives market is segmented based on product type, application, and region.

On the basis of product type, the global fuel additives market is segmented into deposit control, cetane improvers, lubricity additives, antioxidants, anticorrosion, cold flow improvers, antiknock agents, and other product types. Based on application, the global market is classified into diesel, gasoline, jet fuel, and other applications.

Regional Insights:

                                 

On region the global fuel additives market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market North America is projected to account for major share in terms of revenue in the global fuel additives market. The fuel additives market in Asia Pacific is expected to witness fastest growth in terms of revenue over the forecast period, due to growing demand from the automotive aviation industries in countries in this region. China fuel additives market is projected to register for significant share in terms of revenue in the Asia Pacific, due to rising demand for high performance and efficient vehicles. Rapid growth in urban and rural regions coupled with increasing disposable income of people in countries in this region are various other factors deriving growth of petroleum industry, which in turn is anticipated to fuel growth of the global fuel additives in this region over the forecast period. 

                                                

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  • Attribute

    Details

    Base year for estimation

    2019

    Forecast period

    2019 – 2029

    Market representation

    Revenue in USD Million & CAGR from 2019 to 2029

    Market Segmentation

    By Product Type - Deposit Control, Cetane Improvers, Lubricity Additives, Antioxidants, Anticorrosion, Cold Flow Improvers, Antiknock Agents, and Other Product Types

    By Application – Diesel, Gasoline, Jet Fuel, and Other Applications

    Regional scope

    North America - U.S., Canada

    Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

    Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

    Latin America - Brazil, Mexico, Argentina, Rest of Latin America

    Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

    Report coverage

    Revenue forecast, company share, competitive landscape, growth factors, and trends

    Segments Covered in the Report:

    This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global Fuel Additives market report based on product type, application, and region:

    Global Fuel Additives Market, By Product Type:

  • Deposit Control
  • Cetane Improvers
  • Lubricity Additives
  • Antioxidants
  • Anticorrosion
  • Cold Flow Improvers
  • Antiknock Agents
  • Other Product Types

  • Global Fuel Additives Market, By Application:

  • Diesel
  • Gasoline
  • Jet Fuel
  • Other Applications

  • Global Fuel Additives Market, By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa

Global Fuel Additives Market Key Players

                                                         

The key players operating the global fuel additives market includes Afton Chemical, Baker Hughes (General Electric), Chevron Corporation, BASF SE, Clariant, Croda International PLC, Dorfketal Chemicals (I) Pvt Ltd., Eni SpA, Evonik Industries AG, and Exxon Mobil Corporation. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, in September 2018, Dorf Ketal announced the commencement of the production of mph- and milEx-patented fuel detergents, at its technically-advanced manufacturing plant within the Mundra facility.

Global Fuel Additives Market Company Profile

  • Afton Chemical
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies

Baker Hughes (General Electric)

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

Chevron Corporation

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

BASF SE

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

Clariant

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

Croda International PLC

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

Dorfketal Chemicals (I) Pvt Ltd.

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

Eni SpA

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

Evonik Industries AG

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

Exxon Mobil Corporation

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

Global Fuel Additives Market Table of Contents

Research Objective and Assumption

  • Preface
  • Research Objectives
  • Study Scope
  • Years Considered for the study
  • Assumptions
  • Abbreviations

Research Methodology

  • Research data
  • Primary Data
    • Primary Interviews
    • Primary Breakdown
    • Key data from Primary Sources
    • Key Thickness Insights
  • Secondary Data
    • Major Secondary Sources
    • Secondary Sources
  • Market Estimation
  • Top-Down Approach
    • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
  • Bottom-Up Approach
    • Approach for estimating market share by Bottom-up Analysis (Demand Side)
  • Market Breakdown and Data Triangulation
  • Research Assumptions

Market Preview

  • Executive Summary
  • Key Findings—Global Outlook for medical carts Strategies
    • Key Questions this Study will Answer
    • Market Snippet, By Product Type
    • Market Snippet, By Application
    • Market Snippet, By Region
  • Opportunity Map Analysis
  • Executive Summary—3 Big Predictions

Market Dynamics, Regulations, and Trends Analysis

  • Market Dynamics
    • Drivers
    • Restrains
    • Market Opportunities
    • Market Trends
  • DR Impact Analysis
  • PEST Analysis
  • Porter’s Five Forces Analysis
  • Opportunity Orbit
  • Market Investment Feasibility Index
  • Macroeconomic Factor Analysis

Fuel Additives Market,, By Product Type, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Deposit Control
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Cetane Improvers
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Lubricity Additives
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Antioxidant
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Anticorrosion
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Cold Flow Improvers
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Antiknock Agents
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Other Product Types
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Fuel Additives Market, By Application, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Diesel 
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Gasoline
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Jet Fuel
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Other Applications
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Fuel Additives Market, By Region, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Regional Trends
  • North America
    • Market Size and Forecast (US$ Bn), By Product Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • U.S.
      • Canada
  • Europe
    • Market Size and Forecast (US$ Bn), By Product Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • UK
      • France
      • Germany
      • Russia
      • Italy
      • Rest of Europe
  • Asia Pacific
    • Market Size and Forecast (US$ Bn), By Product Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • India
      • Japan
      • South Korea
      • China
      • Rest of Asia Pacific
  • Latin America
    • Market Size and Forecast (US$ Bn), By Product Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
    • Market Size and Forecast (US$ Bn), By Product Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East

Competitive Landscape

  • Heat Map Analysis
  • Market Presence and Specificity Analysis

Company Profiles

  • Afton Chemical
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Baker Hughes
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Chevron Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • BASF SE
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Clariant
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Croda International PLC  
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Dorfketal Chemicals
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Eni SpA  
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Evonik Industries AG   
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Exxon Mobil Corporation  
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategi

The Last Word

  • Future Impact
  • About Us
  • Contact

FAQs

The global fuel additives market is segmented based on product type, application, and region.

Due to the rising awareness regarding environmental pollution the sales of internal combustion engines, which are the main source of environmental pollution, declined significantly.

North America region dominates the Global Fuel Additives Market and is expected to continue its dominance over the forecast period.

The key players operating the global fuel additives market includes Afton Chemical, Baker Hughes (General Electric), Chevron Corporation, BASF SE, Clariant, Croda International PLC, Dorfketal Chemicals (I) Pvt Ltd., Eni SpA, Evonik Industries AG, and Exxon Mobil Corporation.