The global market of automotive aftermarket fuel additives is estimated to reach USD 1,387.0 Million by 2021 at a CAGR of 7.15%. It is driven by the rise in stringent regulations for emission control worldwide and the rise in automotive sales.
Seattle, WA -- (SBWIRE) -- 02/13/2017 -- The report "Automotive Aftermarket Fuel Additives Market by Application (Gasoline, Diesel), Distribution Channel (Big Stores, 4S Stores, Unauthorized Centers, Gas Stations, and so on), Supply Mode - Global Forecast to 2021", The market of automotive aftermarket fuel additives is estimated to grow from USD 919.6 Million in 2015 to USD 1,387.0 Million by 2021, at a CAGR of 7.15%, in terms of value.
Browse 32 market data tables and 56 figures spread through 132 pages and in-depth TOC on "Automotive Aftermarket Fuel Additives Market - Global Forecast to 2021"
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The market is driven by the rise in stringent environmental regulations for vehicular emissions and the increase in the sale of automotives.
Deposit control additives type accounted for the highest demand in the automotive aftermarket fuel additives market
The deposit control additives segment has been witnessing significant demand in recent years due to the several advantages it offers when added to fuel. Improper fuel combustion leads to the increase in emissions and a decrease in the fuel economy of the engine. The diesel flow is choked due to the deposits that build up in the injector nozzle holes. These deposits affect fuel delivery to the engine, thereby impacting combustion, emission and fuel economy. This segment accounted for the largest market share, in terms of value, in 2015.
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E-commerce, 4S stores and big stores are preferred channels of distribution
The end-users of these automotive aftermarket fuel additives are the automotive vehicle owners. 4S stores (sale, spare parts, survey and service) and big stores such as Wal-Mart are the most preferred distribution channels for automotive aftermarket fuel additives products. E-commerce is also gaining wide acceptance for the same due to internet penetration among the customers.
North America is the largest market for automotive aftermarket fuel additives
North America has, conventionally, always been a strong market for fuel additives. Due to stringent environmental regulations, this industry is experiencing significant growth. The North American market is highly regulated with the Environmental Protection Agency (EPA), playing a key role in commercializing and monitoring the automotive aftermarket fuel additives products.
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The key players in the automotive aftermarket fuel additives market are Afton Chemical Corporation (U.S.), Chevron Oronite Company LLC. (U.S.), Total S.A. (France), BASF SE (Germany), Lucas Oil Products, Inc. (U.S.), Ashland Inc. (U.S.), BG Products, Inc. (U.S.), Lubrizol Corporation (U.S.), and Infineum International Ltd. (U.K.).
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