Product Code: CMI7402
Global fuel additive market is estimated to be valued at USD 9.48 Bn in 2024 and is expected to reach USD 12.30 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
US$ 9.48 Bn |
Historical Data for: |
2019 to 2023 |
Forecast Period: |
2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: |
3.80% |
2031 Value Projection: |
US$ 12.30 Bn |
Figure. Fuel Additive Market Share (%), By Region, 2024
Global fuel additive market growth is driven by stringent regulations regarding fuel efficiency and vehicular emissions. Fuel additives are formulated chemicals that are added to vehicular fuels like gasoline and diesel to enhance performance characteristics. These help in improving fuel combustion, inhibiting corrosion, enhancing lubricity, controlling deposits and cleaning engines. With growing awareness about environmental protection and sustainable transportation, there will be huge demand for high-performance fuel additives from automakers. Furthermore, rapid industrialization and infrastructure development across emerging economies have also significantly boosted commercial vehicle fleet, thus, augmenting consumption of diesel engine fuel and associated additives.
Market Dynamics:
Stringent norms regarding vehicular emissions and fuel efficiency standards set by regulatory bodies around the world can boost adoption of sophisticated fuel additives. Growth in international trade, urbanization and industrial & agricultural activity has led to considerable rise in transportation via road, rail, sea and air, thus, boosting need for superior quality fuels and additives.
Volatility in raw material prices poses a major challenge for fuel additive manufacturers. Moreover, availability of crude oil-based substitutes at lower costs can also hamper the market growth.
Ongoing research & development of bio-based and synthetic additives for renewable fuels like ethanol and biodiesel can open up new avenues
Key features of the study:
- This report provides in-depth analysis of the global fuel additive market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global fuel additive market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include TotalEnergies, BASF SE, Evonik Industries AG, The Lubrizol Corporation, Chevron Oronite Company LLC, Afton Chemical Corporation, Innospec Inc., Infineum International Limited, Dorf Ketal Chemicals, Lanxess, Cummins Inc., Baker Hughes Company, Clariant AG, Solvay, Huntsman Corporation, Exxon Mobil Corporation, Qatar Fuel Additives Company (Qafac), Eastman Chemical Company, Cargill Incorporated, and The Dow Chemical Company
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- Global fuel additive market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global fuel additive market
Detailed Segmentation-
- Type Insights (Revenue, USD Bn, 2019 - 2031)
- Deposit Control Additives
- Octane Boosters
- Lubricity Additives
- Cold Flow Improvers
- Antioxidants
- Others
- Fuel Type Insights (Revenue, USD Bn, 2019 - 2031)
- Gasoline
- Diesel
- Aviation Fuel
- Others
- Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- TotalEnergies
- BASF SE
- Evonik Industries AG
- The Lubrizol Corporation
- Chevron Oronite Company LLC
- Afton Chemical Corporation
- Innospec Inc.
- Infineum International Limited
- Dorf Ketal Chemicals
- Lanxess
- Cummins Inc.
- Baker Hughes Company
- Clariant AG
- Solvay
- Huntsman Corporation
- Exxon Mobil Corporation
- Qatar Fuel Additives Company (Qafac)
- Eastman Chemical Company
- Cargill Incorporated
- The Dow Chemical Company
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Type
- Market Snippet, By Fuel Type
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Key Developments
- Industry Trend
4. Global Fuel Additive Market - Impact of Coronavirus (COVID-19) Pandemic
- Overview
- Factors Affecting the Global Fuel Additive Market - COVID-19
- Impact Analysis
5. Global Fuel Additive Market, By Type, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Deposit Control Additives
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Octane Boosters
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Lubricity Additives
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Cold Flow Improvers
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Antioxidants
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Others
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
6. Global Fuel Additive Market, By Fuel Type, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Gasoline
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Diesel
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Aviation Fuel
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Others
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
7. Global Fuel Additive Market, By Region, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, By Region, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- North America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Country, 2020 - 2031
- Market Size and Forecast, By Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Fuel Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
- Latin America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Country, 2020 - 2031
- Market Size and Forecast, By Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Fuel Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Country, 2020 - 2031
- Market Size and Forecast, By Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Fuel Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Country, 2020 - 2031
- Market Size and Forecast, By Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Fuel Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Country, 2020 - 2031
- Market Size and Forecast, By Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Fuel Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Country, 2020 - 2031
- Market Size and Forecast, By Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Fuel Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country/Region, 2019- 2031, (US$ Bn)
- South Africa
- North Africa
- Central Africa
8. Competitive Landscape
- Heat Map Analysis
- Market Share Analysis (3x3 Matrix)
- Company Profiles
- TotalEnergies
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- BASF SE
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Evonik Industries AG
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- The Lubrizol Corporation
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Chevron Oronite Company LLC
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Afton Chemical Corporation
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Innospec Inc.
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Infineum International Limited
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Dorf Ketal Chemicals
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Lanxess
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Cummins Inc.
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Baker Hughes Company
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Clariant AG
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Solvay
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Huntsman Corporation
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Exxon Mobil Corporation
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Qatar Fuel Additives Company (Qafac)
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Eastman Chemical Company
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Cargill Incorporated
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- The Dow Chemical Company
- Company Overview
- Type Portfolio
- Recent Developments/Updates
9. Analyst Recommendation
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
10. Section
- References
- Research Methodology
- About Us and Sales Contact
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