Fuel Additives Market by Product Type (Deposit Control, Cetane Improvers, Lubricants, Antioxidants, Anticorrosion, Cold Flow Improvers, Antiknock Agents, and Others), Application (Diesel, Gasoline, Jet Fuel, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026239 | Pages: 100 | Industry: Chemicals and Materials | Date: Sep 2022 | Type: Global

The market crossed US$ 8.6 billion mark in 2022 and is expected to hit US$ 13.2 billion by 2030, recording a CAGR of 5.5% during the forecast period.

Government mandates of clean and efficient fuels to increase fuel additives demand.

Government agencies are posing stringent regulations to address the greenhouse gas emissions from the automobiles. These regulatory mandates push manufacturers toward developing clean and energy-efficient fuel additives, thereby driving the market growth. For instance, United States Environmental Protection Agency (EPA), launched a Clean Air Act which requires EPA to regulate fuel additives’ carbon emission level during usage. In addition, increasing demand for the fuel and fuel additives in various industries such as transportation, electricity production, and others is likely to offer a futuristic growth to the fuel additives market.      

Within the report, the market is segmented into product type, application, and geography. By product type, the market is further segmented into deposit control, cetane Improvers, lubricants, antioxidants, anticorrosion, cold flow improvers, antiknock agents, and others. On the basis of application, the market is bifurcated into diesel, gasoline, jet fuel, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Development of the ultra-low sulfur-based fuel additives to offer futuristic market growth opportunities

Fuel additives are compounds formulated to enhance the efficiency and quality of the fuels used in automotive vehicles. Companies are extensively focusing on producing ultra-low sulfur of sulfur-free diesel additives to significantly reduce the greenhouse gas emissions from vehicles. Hence, increasing development in the area of sulfur-free fuel additives is likely to offer futuristic market growth opportunities. In addition, increasing demand for the fuel additives to preserve the quality of the crude oil reservoirs is expected to support the product demand globally. Furthermore, technological advancement in the development of fuel lubricity improvers is expected to accelerate the lubricants’ segmental growth during the forecast period.

Rising usage in various applications is one of the major factors accelerating the market growth.

Fuel additives are extensively used to enhance the performance of various fuels such as diesel, gasoline, jet fuels, and others. Increasing diesel fuels’ demand and tightening specifications of the diesel refining processes is mainly driving the demand growth of diesel fuel additives. Gasoline additives are extensively used as an anti-knock agent to reduce the engine knocking issues, driving the gasoline segmental growth. Furthermore, growing airport & airline infrastructural settings and governmental initiatives of building the manufacturing facilities of airplane is likely to increase the jet fuel and fuel additives’ demand globally. 

Recent strategic developments in fuel additives market

The fuel additives market has undergone several significant developments, and a few of these have been mentioned below:

  • In August 2022, BASF SE, a global chemical manufacturing company opened a new fuel performance additives production plant to address the fuel demand in Shanghai, China.
  • In May 2022, Husky Corporation, an American fuel dispensing products maker acquired Kinetic Laboratories, a New York, US-based fuel additive maker and its K100 gasoline & diesel fuel treatment additive products line.
  • In May 2021, Industrial Sustainability Group (ISG), launched The Fuel Ox, as its separate fuel additives and lubricants maker business to increase its portfolio of fuel additive products.

The fuel additives market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. BASF SE, Chevron Corporation, Croda International Plc., Dorfketal Chemicals (I) Pvt. Ltd., Eni S.p.A. are among the prominent players operating in the market.

Target audience for the report:

  • Chemicals and materials manufacturers
  • Chemicals and materials suppliers
  • Fuel refineries
  • Fuel additives suppliers and distributors
  • Chemical industry-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • End users of fuel additives
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Product Type:
    • Deposit Control
    • Cetane Improvers
    • Lubricants
    • Antioxidants
    • Anticorrosion
    • Cold Flow Improvers
    • Antiknock Agents
    • Others
  • Application:
    • Diesel
    • Gasoline
    • Jet Fuel
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
  • BASF SE
  • Chevron Corporation
  • Croda International Plc.
  • Dorfketal Chemicals (I) Pvt. Ltd.
  • Eni S.p.A.

Companies profiled

- BASF SE
- Chevron Corporation 
- Croda International Plc.
- Dorfketal Chemicals (I) Pvt. Ltd.
- Eni S.p.A.

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