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Specialty Fuel Additives Market

Specialty Fuel Additives Market

Specialty Fuel Additives Market Analysis by Additives Type (Deposit Control Additives, Cetane Improvers, Antioxidants, Lubricity Improvers, Cold Flow Improvers, Corrosion Inhibitors), by Application (Gasoline, Diesel, Aviation Turbine Fuel), by Region - Global Forecast 2022-2032

Specialty Fuel Additives Market
FACT268MR
  • Feb-2022
  • List of Tables : 42
  • List of Figures : 60
  • 170 Pages
  • Automotive

Global Specialty Fuel Additives Market Outlook

The global specialty fuel additives market is estimated at USD 7.6 Billion in 2022 and is forecast to reach USD 13.3 Billion by 2032, growing at a CAGR of 5.8% during 2022-2032.

Report Attribute

Details

Market size value in 2021A

USD 7.2 Billion

Market estimated value in 2022E

USD 7.6 Billion

Market forecast value in 2032F

USD 13.3 Billion

Global Growth Rate (2022-2032)

CAGR 5.8%

East Asia Market Size in 2021

USD 2.1 Billion

East Asia Market Growth Rate (2022-2032)

CAGR 4.6%

Top 5 Companies Market Share in 2021

~37%

Key Companies Profiled

  • BASF SE
  • Chevron Corp.
  • Berkshire Hathaway Inc.
  • Ashland Inc.
  • ExxonMobil Corporation
  • Evonik Industries AG
  • The Dow Chemical Company
  • E. I. du Pont de Nemours and Co
  • Afton Chemical Limited.
  • Baker Hughes

Fact.MR estimates that specialty fuel additives market accounted around ~5% of the global additives market in 2021 due to the fact that the increased use of specialty fuel additives enhances functioning of the fuel that helps in protecting the fuel system. As use of the specialty fuel additives help in removing the harmful deposits in the engines, it also improves the functioning in terms of power of the engine and acceleration, hence acts as a constant source of demand.

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Specialty Fuel Additives Market Historical Overview (2017-2021) Vs. Forecast Outlook (2022-2032)

  • East Asia specialty fuel additives market have been generating maximum revenue for specialty fuel additives manufacturers from past half-decade. Around 29.3% of overall market valuation for specialty fuel additives was generated by East Asian countries in 2021 which is forecast to surpass valuation of USD 4.3 Billion by 2032 end, growing with 4.6% CAGR. Industrial motor business in China generated around 68.5% share of total business in 2021 and is projected to grow with exciting CAGR of 5.1% during 2022-2032.
  • Global specialty fuel additives market grew with CAGR of 2.9% with an absolute $ opportunity of USD 2.1 Billion during 2017-2021.
  • Demand of specialty fuel additives for applications of diesel held the maximum market share ~32.1% in 2021 and is expected to gain 430 BPS within the forecast period by contributing the market with share of ~36.8% by end of 2032 that is around USD 2.4 Billion.

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Region-wise Insights

How East Asia is projected to Witness Largest Share in Market of Specialty Fuel Additives during the Forecast Period?

The East Asia specialty fuel additives market is expected to provide maximum absolute $ opportunity to its manufacturers comprehended by the availability of strong supply chain networks of specialty fuel additives manufacturers in this region.

With the inflating prices of the fuel and gases, consumers continue to scramble with the ways to increase the fuel efficiency.

Moreover, the harmful deposits can accumulate in the engine and hinder the efficiency significantly. Thus, growing need for removing and cleaning the harmful deposits in the engines has significantly led to an upsurge in demand for specialty fuel additives in East Asian countries such as China and Japan containing more than 280 Million of vehicles.

Comprehending the aforementioned factors, China specialty fuel additives market is estimated at USD 1.6 Billion in 2022 and is forecast to surpass market valuation of USD 3.0 Billion by end of 2032, growing at a rate of 5.1% during the forecast period.

In addition, East Asia specialty fuel additives business is forecast to surpass USD 4.3 Billion in 2032 out of which ~72% share is projected to be generated through China and Japan specialty fuel additives markets during the same year.

Specialty Fuel Additives Market forecast analysis by Fact.MR

Category-wise Insights

Which Segment is Expected to Provide Maximum Absolute $ Opportunity to Specialty Fuel Additives Market Players?

With increasing need for reducing the ignition delays during combustion, demand for the cetane improvers is expected to rev up. The cetane improvers segment is expected to represent a value of over USD 1.1 Billion in 2022 surpassing market valuation of USD 2.2 Billion by 2032-end.

The deposit control additives segment is expected to represent the second highest revenue growth in the global market by the end of 2022. However, the antioxidants segment is expected to register the highest CAGR in the global market through 2022.

Considering the application segment in specialty fuel additives report during the forecast period, sales of specialty fuel additives in diesel applications is expected to gain highest traction. The diesel specialty segment is estimated to represent a value of over USD 2.5 Billion in the global specialty fuel additives market in 2022 and is projected to gain 430 BPS during the assessment period. Moreover, the gasoline segment is expected to represent the second highest revenue growth in the global market by the end of 2022.

The demand of specialty fuel additives in diesel segment is projected to grow at 6.1% CAGR during 2022-2032 and is estimated to provide an absolute $ opportunity of USD 2.4 Billion. This segment is projected to cover share around ~32.5% market valuation for specialty fuel additives by 2022.

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Competitive Landscape: Top Companies in Specialty Fuel Additives Market

The global specialty fuel additives market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced specialty fuel additives.

Fact.MR has provided detailed information about price points of top manufacturers of specialty fuel additives positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

Global Specialty Fuel Additives Market Segments

  • By Additives Type :

    • Deposit Control Additives
    • Cetane Improvers
    • Antioxidants
    • Lubricity Improvers
    • Cold Flow Improvers
    • Petroleum Dyes & Markers
    • Corrosion Inhibitors
    • Metal Deactivators
    • Octane Enhancers
    • Others
  • By Application :

    • Gasoline
    • Diesel
    • Aviation Turbine Fuel
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

The global value of specialty fuel additives market is estimated to be worth over USD 7.6 Billion in 2022.
Value of specialty fuel additives market in 2032 is forecast to surpass USD 13.3 Billion by 2032 end.
During 2017-2021, global specialty fuel additives market grew at 2.9% CAGR.
Diesel segment is estimated to provide an absolute $ opportunity of USD 2.4 Billion during the forecast period (2022-2032).
East Asia is expected to lead the global specialty fuel additives market in 2022 by accounting around ~29.8% of the total market valuation.

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