New York, NY -- (SBWIRE) -- 03/16/2021 -- According to the current analysis of Reports and Data, the global Fuel Additives market was valued at USD 7 Billion in 2018 and is expected to reach USD 9.43 Billion by year 2026, at a CAGR of 3.5 %. The study covers fuel additives, which supplement the fuel for various purposes like improving the octane/cetane rating of fuels, protection of mechanical parts, prevention of sludge formation, improving the fuel flow, etc. Recent developments in fuel additive space is synthetic technology, which is causing disruption in the market, due to its performance and protection features.

Rising sales of the automobiles worldwide, increasing demand of performance products, launch of improved products, increasing awareness towards benefits of fuel additives, availability of funds for favourable research scenario, emission norms by governments, are some of the key factors propelling market growth in the industry. However, rising prevalence of electronic vehicles, high cost of the additives, unavailability of products throughout the globe, low awareness among end users towards fuel additives are the major hinderances for the market growth during 2019-2026.

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Further key findings from the report suggest

Fuel Additives market is growing at a CAGR of 6% in Asia Pacific followed by North America and Europe, with 4.0 % and 3.0% CAGR, respectively. High growth of the automobile sector across the globe is the key factor to accelerate the market growth during forecast period across all regions

Global automotive market is expected to register high growth, with sales soaring to a staggering 82.1 million in 2019

North America is growing at a CAGR of 4 percent; owing to the stringent emission regulations exercised in the region. It is the major source of revenue for the fuel additives market

Asia Pacific is expected to account for the 27% of the global Fuel Additives market. Developing nations such China, and India are likely to witness high growth

Changing environmental regulations and requirements for fuel to meet emission standards is the key factor to drive the market growth during the forecasted period, 2019-2026

Associated high product cost and lack of awareness about benefits of fuel additives is likely to hinder the market growth during the forecast period.

Based on the regions, the report covers the following regions:

North America (U.S.A., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Competitive Terrain:

The global Fuel Additives market has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies' current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint.

The leading companies operating across the global Fuel Additives market are listed below:

Lubrizol Corporation, Chevron Oronite, Afton Chemicals, ExxonMobil, LanXess, Innospec, Dorf Ketal, Total Power, STP (Danburry), Gold Eagle, Lubrita (Europe).

Function Type (Revenue, USD Million; 2016–2026)

Performance Additives

Corrosion Protection

Deposit Prevention

Flow Improvement

Application Type (Revenue, USD Million; 2016–2026)

Automobiles

Refinery

Others

End Use (Revenue, USD Million; 2016–2026)

Consumers

Industries

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Radical Features of the Fuel Additives Market Report:

Valuable insights into the Fuel Additives market to impart an in-depth understanding of the business verticle

An 8-year forecast estimation along with an analysis of key elements of the market

Technological advancements, regulatory framework, and recent developments covered in the report

Growth analysis and projections until 2027

Statistical analysis of the key players operating in the Fuel Additives industry

Table Of Contents:

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018 – 2026

Chapter 3. Indicative Metrics

    3.1. Growth of global automobile market

    3.2. Increasing demand of performance additives

    3.3. Global burden of vehicular emissions

    3.4. Increasing awareness among automobile enthusiast

Chapter 4. Fuel Additives Segmentation & Impact Analysis

    4.1. Fuel Additives Segmentation Analysis

    4.2. Fuel Additives Market Value Chain Analysis, 2016-2026

    4.3. Regulatory framework

    4.4. Fuel Additives Market Impact Analysis

         4.4.1. Market driver analysis

                 4.4.1.1. Demand for performance fuel

                 4.4.1.2. Launch of eco-friendly fuel additives

        4.4.2. Market restraint analysis

                 4.4.2.1. Cost of the product

                 4.4.2.2. Unavailability of products across various economies

    4.5. Key opportunities prioritized

    4.6. Fuel Additives Pricing Analysis

    4.7. Industry analysis - Porter's

    4.8. Fuel Additives PESTEL Analysis

Continued…

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