The automotive aftermarket fuel additives are chemicals added to gasoline or diesel fuel to enhance the additive or cleanliness characteristics of the fuel. Fuel additives are used to enhance fuel efficiency, reduce engine deposits, improve fuel storage ability, and reduce exhaust emissions.
The global automotive aftermarket fuel additives market is estimated to be valued at US$1.97 Billion in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Enhanced performance of fuel additives has accelerated the growth of the automotive aftermarket fuel additives market. Fuel additives improve fuel properties and engine performance. Modern automobiles require utmost care and maintenance of engine to get optimum power and fuel efficiency throughout its life. Fuel additives enhance the octane rating and cetane number of gasoline and diesel fuel respectively. This improves ignition quality, reduces engine knocking, and provides smooth operation. Fuel additives also prevent formation of deposits in the fuel supply system and keep the combustion chamber clean for maximum power output. With growing demand for high-performance vehicles and stringent regulations regarding vehicular emissions, the sales of fuel additives are increasing significantly.
Segment Analysis
The global Automotive Aftermarket Fuel Additives Market Share is dominated by gasoline additive sub-segment. About 80% of the vehicles runs on gasoline and require fuel additives for improved performance, fuel efficiency and lower emissions. The gasoline additive segment is expected to witness high demand over the forecast period owing to industrial growth and rising automobile sales.
Key Takeaways
The global automotive aftermarket fuel additives market is expected to witness high growth over the forecast period.
Regional analysis shows that Asia Pacific region is expected to be the fastest-growing market given the rising automobile production and sales in countries such as China and India. Automakers in Asia Pacific are focusing more on gasoline vehicles which is expected to drive the demand for gasoline additives during the forecast period.
Key players operating in the automotive aftermarket fuel additives market are Hyosung Corporation, Innospec Inc., Afton Chemical Corporation, Evonik Industries AG, Dorf Ketal Chemicals (I) Pvt. Ltd., The Lubrizol Corporation and Chevron Oronite Company LLC. Hyosung Corporation leads the market with over 15% share owing to its extensive distribution network and wide product portfolio spanning multiple fuel additive types.
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Transparent Market Research (TMR) report illustrates the competitive and distributed market, with major players scattered across the global aftermarket fuel additives market.
They are expected introduce nano technology to produce improved products in global aftermarket fuel additives and compete to capture the competitive market.The Global aftermarket fuel additives market is expected to be fuelled by the regulations limiting vehicular emission.
Increased vehicular traffic and rising emission has led the government to take this regulatory step, driving the market to push towards substantial growth during the forecast period.
The global aftermarket fuel additive market held a market share worth US$628.64 million in 2016.The global aftermarket fuel additive is segmented into types of commercial vehicles such as heavy and light vehicles.
Get PDF Brochure for more Professional & Technical industry insights - https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=30938Improved Engine Performance to Nudge the GrowthAftermarket fuel additives offer an array of benefits to automotive and oil and gas sector.
Therefore, there’s an ample potential for this market to witness astounding growth during the forecast period.Increased performances including gasoline and diesel fuel drives the global aftermarket fuel additive market.
Automotive Fuel Additives Market Insights 2019, Global and Chinese Scenario is a professional and in-depth study on the current state of the global Automotive Fuel Additives industry with a focus on the Chinese market.
The report provides key statistics on the market status of the Automotive Fuel Additives manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
Overall, the report provides an in-depth insight of 2014–2024 global and Chinese Automotive Fuel Additives market covering all important parameters.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-automotive-fuel-additives-2019-2024-783The key ponits of the report:1.The report provides a basic overview of the industry including its definition, applications and manufacturing technology.2.The report explores the international and Chinese major industry players in detail.
In this part, the report presents the company profile, product specifications, capacity, production value, and 2014–2019 market shares for each company.3.Through the statistical analysis, the report depicts the global and Chinese total market of Automotive Fuel Additives industry including capacity, production, production value, cost/profit, supply/demand and Chinese import/export.4.The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.5.The report then estimates 2019–2024 market development trends of Automotive Fuel Additives industry.
Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out.6.The report makes some important proposals for a new project of Automotive Fuel Additives Industry before evaluating its feasibility.There are 3 key segments covered in this report: competitor segment, product type segment, end use/application segment.For competitor segment, the report includes global key players of Automotive Fuel Additives as well as some small players.
At least 18 companies are included:Chevron OroniteLubrizol3M AutoSTPStanadyne AdditivesAfton ChemicalFor complete companies list, please ask for sample pages.The information for each competitor includes:Company ProfileMain Business InformationSWOT AnalysisSales, Revenue, Price and Gross MarginMarket ShareFor product type segment, this report listed main product type of Automotive Fuel Additives market in gloabal and china.Gasoline AdditivesDiesel AdditivesOthersFor end use/application segment, this report focuses on the status and outlook for key applications.
