Governments Encouraging Fuel Additive Usage to Mitigate Air Pollution

Fuel Additives Market

Fuel additives are used to lower the level of emissions, control engine deposits, improve the octane and cetane numbers, and enhance the flow of the fuel. Some of the additives are also used as corrosion inhibitors, decrease the friction between the walls of the engine and fuel molecules, and prevent the freezing of the fuel in cold countries. Owing to the advantageous features of such chemicals, they are being increasingly added to gasoline, diesel, marine fuels, and aviation fuels.

Essentially, the burgeoning need for cleaner fuels, owing to the rising enforcement of stringent environmental laws to reduce the concentration of greenhouse gases (GHGs), will help the fuel additives market progress at a CAGR of 4.9% during 2021–2030. The market revenue stood at $5,032.7 million in 2020, and it is projected to reach $7,990.6 million by 2030. For instance, the United Nations Environmental Protection Agency (EPA) mandates the registration of all diesel- and gasoline-powered motor vehicle fuel additives, under the 40CFR 79 regulations.

In recent years, fuel additive manufacturers have focused on acquisitions and partnerships to expand their clientele. For instance, in May 2020, The Lubrizol Corporation joined the ‘Getting to Zero Coalition’, a group endorsed by 14 governments, to offer low- or zero-carbon fuels. Furthermore, in July 2020, Clariant International Ltd. entered into a partnership with Ineratec GmbH, an energy solution and equipment manufacturer, to offer renewable chemicals and fuels. With this partnership, the former also aims to enhance its operations.

Apart from these two companies, Songwon Industrial Group, Mitsubishi Gas Chemical Company Inc., Total S.A., Lanxess AG, Afton Chemical Corporation, BASF SE, Innospec Inc., Evonik Industries AG, Infineum International Ltd., Exxon Mobil Corporation, Thermax Ltd., and Chevron Corporation are manufacturing deposit controls, antioxidants, cetane improvers, icing inhibitors, cold flow improvers, and lubricity additives for the automobile, industrial, marine, and aviation sectors. In the coming years, deposit control additives will be consumed in the highest quantity due to their multiple functions.

According to P&S Intelligence, the Asia-Pacific (APAC) region led the fuel additives market in the preceding years, and it is expected to retain its dominance in the upcoming years. This can be primarily ascribed to the expanding petrochemical industry in the region. Among APAC nations, China consumes the highest volume of fuel additives due to the flourishing automotive industry and rising research and development (R&D) in such products in the country.

Thus, the booming demand for cleaner fuels on account of the implementation of emission norms will amplify the usage of fuel additives globally.

LIST OF FIGURES

FIG 1 RESEARCH SCOPE

FIG 2 RESEARCH METHODOLOGY

FIG 3 BREAKDOWN OF PRIMARY RESEARCH, BY REGION

FIG 4 BREAKDOWN OF PRIMARY RESEARCH, BY INDUSTRY PARTICIPANT

FIG 5 BREAKDOWN OF PRIMARY RESEARCH, BY DESIGNATION

FIG 6 BREAKDOWN OF PRIMARY RESEARCH, BY COMPANY TYPE

FIG 7 DATA TRIANGULATION APPROACH

FIG 8 CURRENCY CONVERSION RATES FOR USD (2019)

FIG 9 GLOBAL FUEL ADDITIVES MARKET SUMMARY

FIG 10 VALUE CHAIN ANALYSIS

FIG 11 BARGAINING POWER OF BUYERS

FIG 12 BARGAINING POWER OF SUPPLIERS

FIG 13 INTENSITY OF RIVALRY

FIG 14 THREAT OF NEW ENTRANTS

FIG 15 THREAT OF SUBSTITUTES

FIG 16 GLOBAL FUEL ADDITIVES MARKET SNAPSHOT

FIG 17 GLOBAL FUEL ADDITIVES MARKET VOLUME, BY TYPE, THOUSAND TONS (2014–2030)

FIG 18 GLOBAL FUEL ADDITIVES MARKET REVENUE, BY TYPE, $M (2014–2030)

FIG 19 GLOBAL FUEL ADDITIVES MARKET VOLUME, BY APPLICATION, THOUSAND TONS (2014–2030)

FIG 20 GLOBAL FUEL ADDITIVES MARKET REVENUE, BY APPLICATION, $M (2014–2030)

FIG 21 GLOBAL FUEL ADDITIVES MARKET VOLUME, BY END USE, THOUSAND TONS (2014–2030)

FIG 22 GLOBAL FUEL ADDITIVES MARKET REVENUE, BY END USE, $M (2014–2030)

FIG 23 MAJOR WORLDWIDE MARKETS FOR FUEL ADDITIVES, THOUSAND TONS

FIG 24 MAJOR WORDLWIDE MARKETS FOR FUEL ADDITIVES, $M

FIG 25 NORTH AMERICA FUEL ADDITIVES MARKET SNAPSHOT

FIG 26 NORTH AMERICAFUEL ADDITIVES MARKET VOLUME, BY TYPE, THOUSAND TONS (2014–2030)

FIG 27 NORTH AMERICA FUEL ADDITIVES MARKET REVENUE, BY TYPE, $M (2014–2030)

FIG 28 NORTH AMERICA FUEL ADDITIVES MARKET VOLUME, BY APPLICATION, THOUSAND TONS (2014–2030)

FIG 29 NORTH AMERICA FUEL ADDITIVES MARKET REVENUE, BY APPLICATION, $M (2014–2030)

FIG 30 NORTH AMERICA FUEL ADDITIVES MARKET VOLUME, BY END USE, THOUSAND TONS (2014–2030)

FIG 31 NORTH AMERICA FUEL ADDITIVES MARKET REVENUE, BY END USE, $M (2014–2030)

FIG 32 NORTH AMERICA FUEL ADDITIVES MARKET VOLUME, BY COUNTRY, THOUSAND TONS (2014–2030)

FIG 33 NORTH AMERICA FUEL ADDITIVES MARKET REVENUE, BY COUNTRY, $M (2014–2030)

FIG 34 EUROPE FUEL ADDITIVES MARKET SNAPSHOT

FIG 35 EUROPE FUEL ADDITIVES MARKET VOLUME, BY TYPE, THOUSAND TONS (2014–2030)

FIG 36 EUROPE FUEL ADDITIVES MARKET REVENUE, BY TYPE, $M (2014–2030)

FIG 37 EUROPE FUEL ADDITIVES MARKET VOLUME, BY APPLICATION, THOUSAND TONS (2014–2030)

FIG 38 EUROPE FUEL ADDITIVES MARKET REVENUE, BY APPLICATION, $M (2014–2030)

FIG 39 EUROPE FUEL ADDITIVES MARKET VOLUME, BY END USE, THOUSAND TONS (2014–2030)

FIG 40 EUROPE FUEL ADDITIVES MARKET REVENUE, BY END USE, $M (2014–2030)

FIG 41 EUROPE FUEL ADDITIVES MARKET VOLUME, BY COUNTRY, THOUSAND TONS (2014–2030)

FIG 42 EUROPE FUEL ADDITIVES MARKET REVENUE, BY COUNTRY, $M (2014–2030)

FIG 43 APAC FUEL ADDITIVES MARKET SNAPSHOT

FIG 44 APAC FUEL ADDITIVES MARKET VOLUME, BY TYPE, THOUSAND TONS (2014–2030)

FIG 45 APAC FUEL ADDITIVES MARKET REVENUE, BY TYPE, $M (2014–2030)

FIG 46 APAC FUEL ADDITIVES MARKET VOLUME, BY APPLICATION, THOUSAND TONS (2014–2030)

FIG 47 APAC FUEL ADDITIVES MARKET REVENUE, BY APPLICATION, $M (2014–2030)

FIG 48 APAC FUEL ADDITIVES MARKET VOLUME, BY END USE, THOUSAND TONS (2014–2030)

FIG 49 APAC FUEL ADDITIVES MARKET REVENUE, BY END USE, $M (2014–2030)

FIG 50 APAC FUEL ADDITIVES MARKET VOLUME, BY COUNTRY, THOUSAND TONS (2014–2030)

FIG 51 APAC FUEL ADDITIVES MARKET REVENUE, BY COUNTRY, $M (2014–2030)

FIG 52 LATAM FUEL ADDITIVES MARKET SNAPSHOT

FIG 53 LATAM FUEL ADDITIVES MARKET VOLUME, BY TYPE, THOUSAND TONS (2014–2030)

FIG 54 LATAM FUEL ADDITIVES MARKET REVENUE, BY TYPE, $M (2014–2030)

FIG 55 LATAM FUEL ADDITIVES MARKET VOLUME, BY APPLICATION, THOUSAND TONS (2014–2030)

FIG 56 LATAM FUEL ADDITIVES MARKET REVENUE, BY APPLICATION, $M (2014–2030)

FIG 57 LATAM FUEL ADDITIVES MARKET VOLUME, BY END USE, THOUSAND TONS (2014–2030)

FIG 58 LATAM FUEL ADDITIVES MARKET REVENUE, BY END USE, $M (2014–2030)

FIG 59 LATAM FUEL ADDITIVES MARKET VOLUME, BY COUNTRY, THOUSAND TONS (2014–2030)

FIG 60 LATAM FUEL ADDITIVES MARKET REVENUE, BY COUNTRY, $M (2014–2030)

FIG 61 MEA FUEL ADDITIVES MARKET SNAPSHOT

FIG 62 MEA FUEL ADDITIVES MARKET VOLUME, BY TYPE, THOUSAND TONS (2014–2030)

FIG 63 MEA FUEL ADDITIVES MARKET REVENUE, BY TYPE, $M (2014–2030)

FIG 64 MEA FUEL ADDITIVES MARKET VOLUME, BY APPLICATION, THOUSAND TONS (2014–2030)

FIG 65 MEA FUEL ADDITIVES MARKET REVENUE, BY APPLICATION, $M (2014–2030)

FIG 66 MEA FUEL ADDITIVES MARKET VOLUME, BY END USE, THOUSAND TONS (2014–2030)

FIG 67 MEA FUEL ADDITIVES MARKET REVENUE, BY END USE, $M (2014–2030)

FIG 68 MEA FUEL ADDITIVES MARKET VOLUME, BY COUNTRY, THOUSAND TONS (2014–2030)

FIG 69 MEA FUEL ADDITIVES MARKET REVENUE, BY COUNTRY, $M (2014–2030)

FIG 70 U.S. FUEL ADDITIVES MARKET VOLUME, BY APPLICATION, THOUSAND TONS (2014–2030)

FIG 71 U.S. FUEL ADDITIVES MARKET REVENUE, BY APPLICATION, $M (2014–2030)

FIG 72 U.S. FUEL ADDITIVES MARKET VOLUME, BY END USE, THOUSAND TONS (2014–2030)

FIG 73 U.S. FUEL ADDITIVES MARKET REVENUE, BY END USE, $M (2014–2030)

FIG 74 CHINA FUEL ADDITIVES MARKET VOLUME, BY TYPE, THOUSAND TONS (2014–2030)

FIG 75 CHINA FUEL ADDITIVES MARKET REVENUE, BY TYPE, $M (2014–2030)

FIG 76 CHINA FUEL ADDITIVES MARKET VOLUME, BY APPLICATION, THOUSAND TONS (2014–2030)

FIG 77 CHINA FUEL ADDITIVES MARKET REVENUE, BY APPLICATION, $M (2014–2030)

FIG 78 CHINA FUEL ADDITIVES MARKET VOLUME, BY END USE, THOUSAND TONS (2014–2030)

FIG 79 CHINA FUEL ADDITIVES MARKET REVENUE, BY END USE, $M (2014–2030)

FIG 80 GERMANY FUEL ADDITIVES MARKET VOLUME, BY TYPE, THOUSAND TONS (2014–2030)

FIG 81 GERMANY FUEL ADDITIVES MARKET REVENUE, BY TYPE, $M (2014–2030)

FIG 82 GERMANY FUEL ADDITIVES MARKET VOLUME, BY APPLICATION, THOUSAND TONS (2014–2030)

FIG 83 GERMANY FUEL ADDITIVES MARKET REVENUE, BY APPLICATION, $M (2014–2030)

FIG 84 GERMANY FUEL ADDITIVES MARKET VOLUME, BY END USE, THOUSAND TONS (2014–2030)

FIG 85 GERMANY FUEL ADDITIVES MARKET REVENUE, BY END USE, $M (2014–2030)

FIG 86 JAPAN FUEL ADDITIVES MARKET VOLUME, BY TYPE, THOUSAND TONS (2014–2030)

FIG 87 JAPAN FUEL ADDITIVES MARKET REVENUE, BY TYPE, $M (2014–2030)

FIG 88 JAPAN FUEL ADDITIVES MARKET VOLUME, BY APPLICATION, THOUSAND TONS (2014–2030)

FIG 89 JAPAN FUEL ADDITIVES MARKET REVENUE, BY APPLICATION, $M (2014–2030)

FIG 90 JAPAN FUEL ADDITIVES MARKET REVENUE, BY END USE, $M (2014–2030)

FIG 91 INDIA FUEL ADDITIVES MARKET VOLUME, BY TYPE, THOUSAND TONS (2014–2030)

FIG 92 INDIA FUEL ADDITIVES MARKET REVENUE, BY TYPE, $M (2014–2030)

FIG 93 INDIA FUEL ADDITIVES MARKET VOLUME, BY APPLICATION, THOUSAND TONS (2014–2030)

FIG 94 INDIA FUEL ADDITIVES MARKET REVENUE, BY APPLICATION, $M (2014–2030)

FIG 95 INDIA FUEL ADDITIVES MARKET VOLUME, BY END USE, THOUSAND TONS (2014–2030)

FIG 96 INDIA FUEL ADDITIVES MARKET REVENUE, BY END USE, $M (2014–2030)

FIG 97 GLOBAL FUEL ADDITIVES MARKET SHARE ANALYSIS OF KEY PLAYERS (2020)

FIG 98 COMPETITIVE ANALYSIS OF GLOBAL FUEL ADDITIVES MARKET PLAYERS

FIG 99 BASF SE – REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2020)

FIG 100 CLARIANT INTERNATIONAL LTD. – REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2020)

FIG 101 EVONIK INDUSTRIES AG – REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2020)

FIG 102 TOTAL S.A. – REVENUE SPLIT BY SEGMENT (2020)

FIG 103 CRODA INTERNATIONAL PLC – REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2020)

FIG 104 CHEVRON CORPORATION – REVENUE SPLIT BY SEGMENT (2020)

FIG 105 INNOSPEC INC. – REVENUE SPLIT BY SEGMENT AND GEOGRAPHY (2020

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