A Complete Study on Global Fuel Additives Market

Introduction

In 2021, the market for fuel additives is projected to reach US$9.784 billion, increasing from US$6.394 billion, growing at a CAGR of 7.35% during the forecast period. Fuel additives help improve the efficiency of fuels like gasoline and diesel. On the basis of product type, the fuel additives market has been segmented as deposit control additives, cetane improvers, antioxidants, dyes, lubricity additives, corrosion inhibitors, and others, while on the basis of application, the fuel additives market has been segmented into gasoline, diesel, and others. 
                       global fuel additives market
Factors driving growth in the market are, stringent government regulations for fuel efficiency and environmental protection, increasing demand for ultra-low-sulphur diesel, robust automobile markets like China and India, high growth in demand for gasoline, continuous upgradation in engine design and development and expanding urbanization leading to high demand for fuels for household personal consumption, industry, aviation, automobile, manufacturing, and transportation among others.

Market Trends Increasing Demand for Fuel Additives

The market for fuels is susceptible to constant change owing to dynamic demand patterns. In recent years, technological upgradation and engine redesign in automobiles, aviation, and other such industries have increased fuel complexity. For example, the fuel market has seen an increasing demand for improved ignition quality and increasing cetane number specifications, leading to higher use of fuel additives.
                           global fuel additives market size
 Other sources of demand for fuel additives include the use of hydrotreatment to produce ultra-low-Sulphur fuels, the use of kerosene as a blend component to improve cold flow properties, increased blending with non-conventional components, including biofuels and gas to liquid streams and use of other fuel additives like cetane improvers. Demand for Ultra Low Sulphur Diesel (ULSD) fuels in Europe and North America, in particular, has been a significant growth driver.

 Global Fuel Additives Market Forecast by Geography(Us$ Billion)

By geography, the global fuel additives market has been segmentation as the Americas, Europe Middle East, and Africa (EMEA), and Asia Pacific (APAC). The Americas held the largest share of global fuel additives market in 2015 and is projected to grow at the highest CAGR of X.XX% during the forecast period to maintain its position till 2021. However, Asia Pacific is expected to witness the fastest growth over the projected period bolstered by countries such as China and India, which are projected to witness high market growth due to the favorable regulatory environment and stricter climate change control measures. A robust automobile industry will strengthen further growth.we have covered all segments in market research and analysis report.
                     global fuel additives market share by region

America

By geography, the global fuel additives market has been segmentation as the Americas, Europe Middle East, and Africa (EMEA), and Asia Pacific (APAC). The Americas held the largest share of global fuel additives market in 2015 and is projected to grow at the highest CAGR of X.XX% during the forecast period to maintain its position till 2021. However, Asia Pacific is expected to witness the fastest growth over the projected period bolstered by countries such as China and India, which are projected to witness high market growth due to the favorable regulatory environment and stricter climate change control measures. A robust automobile industry will strengthen further growth.

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