(MENAFN- America News Hour) Market Overview:
The global Fuel Additives market was valued at USD 6.62 billion in 2016 and is projected to reach USD 11.86 billion by 2025, growing at a CAGR of 6.7% from 2017 to 2025.
Fuel additives belong to the group of chemical compounds that are added to improve the functional properties of fuel. The major functions performed by these chemicals include friction reducers, corrosion inhibitors, anti-foaming and antioxidation. However, the market faces a growing threat from alternate fuels which are experiencing huge demand.
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Market Dynamics:
1. Market Drivers
1.1 Stringent environment regulations
1.2 Growth of the automotive industry
2. Market Restraints
2.1 Rise in demand for alternate fuels
2.2 Stagnant demand for gasoline fuels
Market Segmentation:
The global Fuel Additivesmarket is segmented on the product, applicationand region.
1. By Product:
1.1 Cetane Improvers
1.2 Deposit Control Additives
1.3 Dyes and Markers
1.4 Antioxidants
1.5 Cold Flow Improvers
1.6 Lubricity Improvers
1.7 Octane Improvers
1.8 Stability Improvers
1.9 Anti-icing fuel additives
1.10 Corrosion Inhibitors
1.11 Others
2. By Application:
2.1 Gasoline
2.2 Aviation
2.3 Diesel
2.4 Others
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. The Lubrizol Corporation
2. Chevron Oronite Company LLC
3. Fuel Performance Solutions Inc.
4. Afton Chemical Corporation
5. BASF SE
6. Evonik
7. Innospec Inc.
8. Cummins Inc.
9. DorfKetal Chemicals India Pvt. Ltd.
10. Chemtura Corporation
11. Cerion LLC
12. Infineum International Ltd.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Fuel Additives market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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