Global Fuel Additives Market Analysis–Trends, Insights & Forecasts (2021-2027)

  • Publish Date
    July 21, 2021
  • No of Pages
    425
  • SKU Code
    GIR 8015
  • Format

Global Fuel Additives Market – Overview

  • The report will cover the overall analysis and insights in relation to the size and growth rate of the “Global Fuel Additives Market ” by various segments at a global and regional level for the 2000-2027 period, with 2014-2019 as historical data, 2020 as a base year, 2021 as an estimated year and 2021-2027 as forecast period.

Global Fuel Additives Market Introduction

  • Fuel additives belong to the group of chemical compounds that are added to improve the functional properties of the fuel. The major functions performed by these chemicals include friction reducers, corrosion inhibitors, anti-foaming and antioxidation. It is produced by a liquid-phase reaction of isobutene (IB) and ethanol (EtOH) with a strong acidic macroporous ion exchange resin. Fuel additives can prevent many fuel delivery system problems. They enhance the quality and efficiency of fuels used in motor vehicles based on the product, the market is classified into Cetane Improvers, Deposit Control Additives, Dyes & Markers, Antioxidants, Cold Flow Improvers, Lubricity Improvers, Octane Improvers, Stability Improvers, Anti-icing fuel additives, Corrosion Inhibitors, and Others. They are used in various applications such as Gasoline, Aviation, Diesel, and Others.

Fuel Additives  

COVID-19 Impact on the Global Fuel Additives Market

  • Oil & gas, chemical, energy, petrochemical, automotive, healthcare, and food industries are the major end users of the fuel additives. Most of the industries have become non-operational due to the emergence of the COVID-19 situation. Therefore, adoption of fuel additives is hampered to a notable extent. On the supply side, the production activities have witnessing sluggish trends. This pandemic situation is expected to lead to instability in the price trend of fuel additive due to fluctuation in the supply-demand gap.

Global Fuel Additives Market Report Scope

  • The scope of the report covers the clear understanding and overview of the product.
  • Analysis of market trends in the region, with market data considering 2020 as the base year, 2021 as the estimate year and forecast for 2027 with projection of CAGR from 2021 to 2027.
  • The report covers discussion of economic trends and technology.
  • Market estimates represent revenue.
  • In-depth analysis of the market segmentation assists in determining the prevailing market scope.

Segments Covered in Global Fuel Additives Market

Attribute Details
Market size available for years 2000–2027
Base year considered 2020
Forecast period 2021–2027
Historical period 2000-2019
Forecast units Value (USD) & Volume (Million Units)
Forecast units Value (USD) & Volume (Million Units)
Segmentation By Regions
North America, Europe, Asia Pacific, Latin America and Middle East & Africa
By Countries
United States, Russia, China, Germany, United Kingdom, France, Japan, Israel, Saudi Arabia, South Korea, United Arab Emirates, Canada, Indonesia, Malaysia, Switzerland, Australia, India, Italy, Sweden, Spain, Belgium, Netherlands, Norway, Brazil, Argentina, Mexico, South Africa and 54 Others.
By Product Type
Cetane Improvers, Deposit Control , Dyes and Markers, Antioxidants, Anticorrosion, Antiknock Agents, Cold Flow Improvers, Lubricity Improvers, Octane Improvers, Stability Improvers, Corrosion Inhibitors and Other.
By Application
Diesel, Gasoline, Aviation Fuel and Others.
By End-User
Passenger Vehicles, Commercial Vehicles, Off-Highway Equipment, Aircraft, Marine Vessels, Industrial and Others.
Companies covered Albemarle; Afton Chemical Corp.; Baker Hughes; BASF SE; Cerion LLC; Chemtura; Chevron Oronite Company LLC; Chempoint Solutions Company; Clariant AG; Cummins, Inc.; Croda International PLC;  Dorf Ketal Chemicals; Dow Chemical;  Eastman Chemical Corporation; Evonik Industries AG; Eurenco; Huntsman Corp.; ENI SPA; Infineum International Ltd.; Innospec, INC.; Lanxess; Lubrizol Corp.; Lucas Oil Products Inc.; Lubricant Engineers; NALCO Champion; Petroleum Logistics; Solvay; Total SA and Others.

Recent Developments in Global Fuel Additives Market

  • March 2020, Afton developed API SP/GF-6 Solutions the “HiTEC 11458,” which is in accordance with the GF-6 specification and SN Plus/GF-5 specifications. This solution is expected to meet the current targets of new engine designs. It offers reliable pre-ignition and wear protection for it being robust. It is expected to provide increased engine protection in terms of wear, deposit control, oxidation, and corrosion.
  • January 2020, Innospec announced the development of its new marine fuel additive Innospec’s Octamar, which would help the shipping industry comply with the new regulations regarding the maximum sulfur content of marine fuels.

Key Market Players in Global Fuel Additives Market

  • The major players in the Global Fuel Additives market are Lubrizol Corporation; Chevron Oronite Company LLC; Fuel Performance Solutions Inc.; Afton Chemical Corp.; BASF SE; Evonik; Innospec Inc.; Cummins Inc.; DorfKetal Chemicals India Pvt. Ltd.; Chemtura Corp.; Cerion LLC; Infineum International Ltd.;
  • Also, the Global Fuel Additives market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

 Objectives of the Global Fuel Additives Market Study

  • To provide detailed information regarding drivers, restraints, opportunities and challenges are influencing the growth in the Global Fuel Additives Market.
  • To analyze the competitive intelligence of players based on company profiles and their key growth strategies.
  • To strategically analyze micro markets with respect to the individual growth trends, their prospects, and their contribution to the total Global Fuel Additives Market.
  • To analyze competitive developments such as expansions, and product launches, along with research & development (R&D) activities undertaken in the Global Fuel Additives Market.
  • A unique model is created customized for each study also offers suggestions that help enterprises to identify and mitigate risks.

Note

  • Global Industry Reports will also support you post-purchase for a period of 6 months to answer any of your queries related to the following market and to provide you any more data if you need, for your analysis.
  • Also, you can buy some selected Chapters from the report.

1 INTRODUCTION

Objectives of the study

Market definition

Market scope

Stakeholders

Limitations

Summary of changes

2 RESEARCH METHODOLOGY

Research data

Secondary data

Primary data

Market size estimation

Market breakdown & data triangulation

Market share analysis

Risk assessment/limitations

Assessment of the impact of covid-19 on the economic scenario

3 EXECUTIVE SUMMARY

4 GLOBAL FUEL ADDITIVES MARKET OUTLOOK / MARKET OVERVIEW

Introduction

Market dynamics

Market drivers

  • Stringent government regulations
  • Increase in automotive production in emerging economies
  • Degrading quality of crude oil

Market restraints

  • Rise in demand for alternate fuels
  • Rise in demand for hybrid vehicles and increasing battery price parity
  • Significant investments in R&D for fuel additives

Opportunities

Increase in demand for ultra–low–sulfur diesel

Challenges

Impact of covid–19

5 INDUSTRY INSIGHTS

Supply chain analysis

  • Raw materials
  • Manufacturing fuel additives
  • Distribution
  • To end users

Patent analysis

Industry insights

Top applicants

Trends/disruptions impacting customer businesses

Trade data statistics

Regulatory landscape

Average selling prices of fuel additives

6 GLOBAL FUEL ADDITIVES MARKET, BY TYPE

  • Cetane Improvers
  • Deposit Control Additives
  • Dyes and Markers
  • Antioxidants
  • Cold Flow Improvers
  • Lubricity Improvers
  • Octane Improvers
  • Stability Improvers
  • Anti-icing fuel additives
  • Corrosion Inhibitors
  • Others

7 GLOBAL FUEL ADDITIVES MARKET, BY FUEL TYPE

  • Diesel
  • Gasoline
  • Aviation Fuel
  • Others

8 GLOBAL FUEL ADDITIVES MARKET, BY APPLICATION

  • Passenger Vehicles
  • Commercial Vehicles
  • Off-Highway Equipment
  • Aircraft
  • Marine Vessels
  • Industrial
  • Others

9 GLOBAL FUEL ADDITIVES MARKET, BY GEOGRAPHY

Overview

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • U.K.
  • France
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Rest of Asia Pacific

Rest of the World

Latin America

Middle East & Africa

10 GLOBAL FUEL ADDITIVES MARKET COMPETITIVE LANDSCAPE

Introduction

Footprint analysis of the top players in the global fuel additives market

Product & service portfolio matrix

Market share analysis

Company evaluation quadrant

Company evaluation quadrant for start-ups/smes

Competitive scenario

11 COMPANY PROFILES

(Business overview, Products & services offered, Recent Developments, Competitive analysis, SWOT Analysis)

1 Lubrizol Corporation

2 Chevron Oronite Company LLC

3 Fuel Performance Solutions Inc.

4 Afton Chemical Corp.

5 BASF SE; Evonik

6 Innospec Inc.

7 Cummins Inc.

8 DorfKetal Chemicals India Pvt. Ltd.

9 Chemtura Corp.

10 Cerion LLC

11 Infineum International Ltd.

12 Others 150+.

12 APPENDIX

Discussion guide

Available customizations

Related reports

Methodology

Research Methodology is the process used to collect information and data for the purpose of making business decisions. The success of a research project is entirely dependent on the research methodology adopted by the company. Research Methodology and Scope We have implemented a mix of primary and secondary research for our market estimate and forecast. Secondary research formed the initial phase of our study, where we conducted extensive data mining, referring to verified data sources such as independent studies, company annual reports, white papers, case studies, government and regulatory published articles, technical journals, magazines, and paid data sources. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information important for respective regions. The primary sources from the supply side included industry experts such as CEOs, VPs, marketing directors, technology and innovation directors, and related executives from key companies and organizations operating in the respective regions. The primary data has been collected through questionnaires, e-mails, and telephonic interviews, end-user surveys, consumer surveys, technology distributors and wholesaler’s surveys.

  • Quantitative methods (e.g. surveys) are best for measuring, ranking, categorizing, identifying patterns and making generalizations
  • Qualitative methods (e.g. interviews) are best for describing, interpreting, contextualizing, and gaining in-depth insight into specific concepts or phenomena
  • Mixed methods allow for a combination of numerical measurement and in-depth exploration.

Market drivers and restraints, along with their current and expected impacts, technological scenario and expected developments, end-use industry trends and dynamics  and consumer behavior trends  these forecasting parameters were considered.

Ethical approach, attention to detail, consistency, latest trend in the market and highly authentic source these are benefits of company’s research methodology.

Global Industry Reports

Market size estimation methodology top-down and bottom-up approaches

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the virtual reality market. These methods have also been extensively used to estimate the sizes of various market subsegments. Estimating the size of the market in each region by adding the sizes of country-wise markets and tracking the ongoing and upcoming implementation of virtual reality projects by various companies in each region and forecasting the size of the virtual reality market based on these developments and other critical parameters, including COVID-19 related impacts

Data Triangulation

After arriving at the overall market size—using the market size estimation processes explained above—the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. It provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, company profiles, key player strategies competitive developments and key developments) influencing the virtual reality market growth.

Statistical Model

Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development and pricing trends is fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression and time series analysis.

Frequently Asked Questions?

Growing at a CAGR of 3.2% during the forecast period.

The Global Fuel Additives market is expected to reach USD 7 billion by 2027.

The major players in the Global Fuel Additives market are Lubrizol Corporation; Chevron Oronite Company LLC; Fuel Performance Solutions Inc.; Afton Chemical Corp.; BASF SE; Evonik; Innospec Inc.; Cummins Inc.; DorfKetal Chemicals India Pvt. Ltd.; Chemtura Corp.; Cerion LLC; Infineum International Ltd.

It is classified into ten categories- deposit control additives, cetane improvers, lubricity improvers, cold flow improvers, stability improvers, octane improvers, corrosion inhibitors, anti-icing fuel additives, dyes & markers and others.

Rise in demand for alternate fuels and growth in demand of the hybrid vehicles are the major restraint of the market.