Stringent regulations predominantly in developed countries that monitor vehicular emissions to be within permissible limits is having a positive impact on the global aftermarket fuel additives market.
Albany, NY -- (SBWIRE) -- 10/13/2017 -- Aftermarket products are used to clean the components in which the lubricant operates, in order to enhance the performance of the lubricant itself. One of the highly used aftermarket products, aftermarket fuel additives is gaining momentum in the global market. This rising demand for aftermarket fuel additives is primarily driven due to the adherence to stringent environmental emission control regulations, finds a new study added to the vast repository of Market Research Hub (MRH). The study is titled as "Aftermarket Fuel Additives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025", and clearly states that the market is all set to grow at a steady rate. This 330-pages report estimates and forecasts the aftermarket fuel additives market on the global and regional levels. The study offers forecast between 2017 and 2025 based on volume (tons) and revenue (US$ Mn) with 2016 as the base year.
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In order to enhance the performance of a fuel, a consumer can add a fuel additive directly into the tank of a vehicle. Aftermarket fuel additives offer numerous advantages which is leading to their increased adoption. Major advantages include the performance of gasoline and diesel fuel in vehicles and to address vehicular issues pertaining to engine performance, lost fuel economy, poor drivability, and excessive emissions.
This report on global aftermarket fuel additives market deeply analyzes the market on the basis of product type, fuel type, end-user, and geography. The geographical segmentation of the study highlights prime regions North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Of these, North America and Europe led the global aftermarket fuel additives market in 2016, in terms of revenue. However, Asia Pacific is projected to surpass in terms of growth rate between 2017 and 2025. Looking to the various trends and market performance, analysts have studied that the global aftermarket fuel additives market is foreseen to post a CAGR of 7.2% during 2017-2025. At this pace, the market is expected to be worth US$1,167.9 mn by the end of 2025.
Further, the study includes drivers and restraints for the aftermarket fuel additives market along with their impact on demand during the forecast period. It has been analyzed that stringent regulations largely in developed countries that monitor vehicular emissions to be within permissible limits are having a positive impact on the global aftermarket fuel additives market. However, the low awareness about aftermarket fuel additives among consumers and their limited use primarily in the oil and gas industry is hindering the growth of aftermarket fuel additives market.
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On the basis of product type, the report has been segmented into octane booster, corrosion inhibitor, deposit control, combustion improver, dehazer/demulsifier, cetane improver, antioxidants, cold flow improver, anti-icing, biocide. On the basis of fuel type, the report segregates the market into gasoline, diesel, and others. Each of the above segment has been analyzed on the basis of historic, present and future trends.
Later, the report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report Afton Chemical Corporation, Lubrizol Corporation, Chevron Corporation, Total S.A., and Evonik.
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