Global Speciality Fuel Additives Market was valued at USD 7 Billion in 2018 and is expected to reach USD 9.43 Billion by year 2026, at a CAGR of 3.5 %. The study covers Speciality Fuel Additives, which supplement the fuel for various purposes like improving the octane/cetane rating of fuels, protection of mechanical parts, prevention of sludge formation, improving the fuel flow, etc. Recent developments in fuel additive space is synthetic technology, which is causing disruption in the market, due to its performance and protection features.
Rising sales of the automobiles worldwide, increasing demand of performance products, launch of improved products, increasing awareness towards benefits of Speciality Fuel Additives, availability of funds for favourable research scenario, emission norms by governments, are some of the key factors propelling market growth in the industry. However, rising prevalence of electronic vehicles, high cost of the additives, unavailability of products throughout the globe, low awareness among end users towards Speciality Fuel Additives are the major hinderances for the market growth during 2019-2026
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Key companies analyzed in the report include:
Lubrizol Corporation, Chevron Oronite, Afton Chemicals, ExxonMobil, LanXess, Innospec, Dorf Ketal, Total Power, STP (Danburry), Gold Eagle, Lubrita (Europe)
Further key findings from the report suggest
Speciality Fuel Additives market is growing at a CAGR of 6% in Asia Pacific followed by North America and Europe, with 4.0 % and 3.0% CAGR, respectively. High growth of the automobile sector across the globe is the key factor to accelerate the market growth during forecast period across all regions
Global automotive market is expected to register high growth, with sales soaring to a staggering 82.1 million in 2019
North America is growing at a CAGR of 4 percent; owing to the stringent emission regulations exercised in the region. It is the major source of revenue for the Speciality Fuel Additives market
Asia Pacific is expected to account for the 27% of the global Speciality Fuel Additives market. Developing nations such China, and India are likely to witness high growth
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Global Speciality Fuel Additives Market Scope:
A broad Speciality Fuel Additives market segmentation is the focal point of the report that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains expert opinions on the current market scenario, past market performance, production consumption rates, demand supply ratio, and revenue generation forecasts over the estimated period. The report further assesses the financial positions of the key players, with a particular focus on their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios. Our expert team has employed several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis to accurately evaluate the production capacity of the Speciality Fuel Additives market.
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Function Type
Performance Additives
Corrosion Protection
Deposit Prevention
Flow Improvement
Application Type
Automobiles
Refinery
Others
Regional analysis covers:
North America (U.S.A., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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