Global Fuel Additives Market - Segmented by Product type, Application and Geography Trends and Forecasts (2017 - 2022)
The global fuel additives market was valued at USD XX.XX billion in 2015. The market is projected to reach USD 9.06 billion by 2020, at a CAGR of 7.80% during the forecast period.
The US EPA defines fuel additives as products formulated to improve the efficiency and quality of the fuels (both gasoline and diesel). Fuel additives help automobiles function efficiently. They offer numerous advantages, such as improved engine performance and increased power, which help the vehicle in achieving optimum mileage levels. Fuel additives can either be added to gasoline/diesel or sold separately. EPA regulates the fuel additives as they have a direct impact on vehicle emissions.
Fuel additives are an integral part of automotive, industrial, and aerospace applications. In this report, the following principal end-user industry segments are taken into consideration: diesel, gasoline, jet fuel, and others.
The market is driven by factors such as enactment of stringent environmental regulations, rising global passenger traffic contributing to the growth of the aviation market, and increasing demand for clean and efficient fuel. The factors that restrain the market growth include increasing demand and penetration of battery electric vehicles (BEVs) and high cost associated with R&D activities.
Based on product type, the global fuel additives market can be broadly segmented into deposit control, cetane improvers, lubricants, antioxidants, anticorrosion, fuel dyes, cold flow improvers, antiknock agents, and others. The segmentation based on geography include segmented into Asia-Pacific, North America, Europe, South America, and Middle-East and Africa.
North America currently dominates the global fuel additives market. However, Asia-Pacific region is expected to take over North America in the next few years. The growing demand for automobiles, its rising production and increasing passenger traffic (mainly due to growing tourism industry) are the factors that contribute to the growth of fuel additives market in the Asia-Pacific region.
Furthermore, the accelerating demand for ultra-low-sulfur diesel and increasing demand for improved quality fuel in the Asia-Pacific region will offer numerous opportunities for market growth. Some of the major players in the fuel additives market include Chevron Corp, ExxonMobil, Royal Dutch Shell, Lubrizol Corp, Chemtura Corp., Total SA, and AkzoNobel N.V.
SPECIALITIES OF THIS REPORT
1. The report will be useful in gaining an exhaustive understanding of the regional market for fuel additives. It will also be of assistance in providing a comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade
2. The report will be an ideal source material for industry consultants, fuel additives manufacturers and other interested as well as allied parties to gain a critical insight into the factors driving and restraining the market, in addition to opportunities offered.
3. The report contains wide range of information about the leading market players and the major strategies adopted by them.
WHAT THE REPORT OFFERS
1. Market Definition for the specified topic along with identification of key drivers and restraints.
2. Market analysis for the Fuel Additives market, with region specific assessments and competition analysis on a global and regional scale.
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4. Extensively researched competitive landscape section with profiles of major companies along with their market shares.
5. Identification and analysis of the Macro and Micro factors that affect the fuel additives market on both global and regional scale.