Fuel Additives Market Analysis
Fuel additive is a performance modifier, which is formulated to enhance the existing properties and the efficacy of fuels. These additives are added in small quantities to fuels, mainly in gasoline. In addition, fuel additives are used as combustion antioxidants, modifiers, corrosion inhibitors, and deposit control detergents.
COVID-19 impact analysis
Oil & gas, chemical, energy, petrochemical, automotive, healthcare, and food industries are the major end users of the fuel additives. Most of the industries have become non-operational due to the emergence of the COVID-19 situation. Therefore, adoption of fuel additives is hampered to a notable extent. On the supply side, the production activities have witnessing sluggish trends. This pandemic situation is expected to lead to instability in the price trend of fuel additive due to fluctuation in the supply-demand gap.
Top impacting factors: market scenario analysis, trends, and drivers
The key factors driving the growth of the global fuel additive market are rapid increase in demand for efficient and low-emission fuels from automobiles along with increase in traffic congestion and diffusion of ultralow sulfur diesel. In China, due to favorable foreign trade and investments policies, rapid growth has been witnessed in industrialization in the last 30 years, which is directly impacting the demand for fuel additives. One of the recent trends observed in this market is rise in R&D activities in gasoline engine technologies due to rapid increase in consumption of gasoline additives, which is anticipated to significantly drive the growth of this market. Furthermore, the development of the automotive industry acts as a key driver of the global fuel additives market, as this industry serves as the major consumer of fuel additives. Moreover, rise in production of light commercial vehicles, passenger cars, and heavy commercial vehicles has been witnessed across the globe, which is anticipated to contribute toward the growth of the overall market. Increase in demand for ultralow sulfur diesel (ULSD)is expected to further boost the growth of newer emissions control solutions such as addition of fuel additives.
New product launches to boost the market growth
One of the leading chemical manufacturer in India, Dorf Ketal Chemicals India Private Limited recently launched two new brands mph and milEx. Mph is formulated for gasoline engines, whereas milEx is formulated for diesel engines. These are made with a multitude of special cutting-edge components, which help in protecting the entire fuel system, keeping engine clean, and reducing engine-out emission.
Key benefits of the report
- This study presents the analytical depiction of the global fuel additives market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global fuel additives market share.
- The current market is quantitatively analyzed to highlight the global fuel additives market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global fuel additive market research report:
- Which are the leading market players active in the global fuel additives market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities on the market?
- What are the projections for the future that would help in taking further strategic steps?
Fuel Additives Market Report Highlights
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