Global fuel additives market is projected to grow at a formidable rate during the forecast period, 2023-2027. The market growth can be attributed to the stringent environment regulations on fuel emission and expanding automobile industries. Moreover, increasing demand for fuel efficiency and better combustion is also expected to accelerate the demand for fuel additives during the forecast period. Besides, rising demand for advanced and improved goods and stringent restrictions implemented by government and businesses to reduce the consumption of fossil fuels are some of the factors projected to boost the market growth. Rising product portfolio of fuel additives, owing to the growing concerns about air pollution caused by the incomplete and complete combustion of hydrocarbons is expected to fuel the growth of the global fuel additives market. Moreover, the degrading quality of petroleum oils that get quickly photo-oxidized and biodegraded due to the presence of marine microorganisms are supporting the rising demand for fuel additives as they preserve quality and meet government standards. This is expected to further fuel the growth of the global fuel additives market.
The global fuel additives market is segmented on the basis of type, application, and region. In 2021, the North America region led the global fuel additives market in terms of value. However, Asia-Pacific is projected to be the global leader in fuel additives market during the forecast period owing to growing construction, manufacturing, and automobile industries in the region with few strict regulations on fuel utilization and emission controls are estimated to drive the market for fuel additives in Asia-Pacific. Moreover, North America and Europe & CIS region both have strict fuel emission and environmental regulations will further propel the demand for fuel additives market.
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Some of the leading players in the global fuel additives market are Chevron Oronite Company LLC, Fuel Performance Solutions Inc., The Lubrizol Corporation, Afton Chemical Corporation, Infineum International Ltd., Cerion LLC, Cummins Inc, BASF SE, Chemtura Corporation, Innospec Inc., etc.
| Attribute | Details |
| Historic Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, Volume in Units, CAGR for 2017-2021 and 2022-2027 |
| Report coverage | Revenue Forecast, Volume Forecast, Company Share, Competitive Landscape, Growth Factors, And Trends |
| Segments covered | · By Type · By Application |
| Region scope | Asia Pacific; Europe & CIS; North America; South America; Middle East & Africa |
| Country scope | China, India, Japan, South Korea, Australia, Singapore, Malaysia, France, Germany, United Kingdom, Italy, Spain, United States, Mexico, Canada, Brazil, Argentina, Colombia, South Africa, Saudi Arabia, UAE, Qatar |
| Key companies profiled | Chevron Oronite Company LLC, Fuel Performance Solutions Inc., The Lubrizol Corporation, Afton Chemical Corporation, Infineum International Ltd., Cerion LLC, Cummins Inc, BASF SE, Chemtura Corporation, Innospec Inc. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
