Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Fuel Additives Market Size & Share Analysis - Growth Trends & Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
This market analysis report reveals that the global fuel additives market, which is projected to expand to 2.29 million tons by 2028, is on a trajectory of robust growth, expected to register a CAGR of over 4.27% within the forecast period between 2023 and 2028. The recovery of the market is largely a result of the rebound in demand post the significant impact caused by the COVID-19 pandemic.
Key Highlights and Market Dynamics
Stringent environmental regulations and the declining quality of crude oil are the primary drivers enhancing the growth of the fuel additives industry. Conversely, the rising interest in battery electric vehicles (BEVs), particularly in the United States, China, and Germany, alongside the considerable costs associated with R&D activities, may pose challenges to market expansion. Nevertheless, the growing appetite for ultra-low-sulfur diesel (ULSD) is expected to create new opportunities and further propel market growth.
Gasoline Dominates Fuel Additives Applications
Gasoline remains the key player in the fuel additives sector, as it is extensively employed in automotive and aviation industries and is primarily obtained from the thermal or catalytic cracking of heavier oil fractions. The region of North America, dominated by the United States, is anticipated to maintain its lead in the fuel additives market owing to significant consumption increases in jet/kerosene fuel and fuel oil, as well as robust production trends in the automotive industry.
Report Scope
- In-depth insights on the implications of gasoline-related applications on fuel additives market share
- Analyzed data reflecting gasoline production and consumption trends that signify potential growth avenues
- Grasp of how advancements and trends in the automotive and aviation markets in North America bolster the demand for fuel additives
Fuel Additives Market Competitive Landscape
The competitive scenario of the fuel additives market is fragmented with the presence of notable industry players such as Afton Chemicals, The Lubrizol Corporation, Innospec, Chevron Corporation, and BASF SE. These market leaders are strategically positioned to leverage the growth in the sector with innovative solutions and expansion strategies.
The full market analysis provides a comprehensive review of the fuel additives industry, offering strategic insights and data-driven projections for interested stakeholders. It stands as a vital resource for understanding various facets of market trends, drivers, and opportunities that will shape the landscape in the years to come.
A selection of companies mentioned in this report includes:
- Afton Chemical
- Baker Hughes (General Electric)
- BASF SE
- Chevron Corporation
- CLARIANT
- Croda International plc
- Dorf Ketal Chemicals (I) Pvt. Ltd.
- Eni S.p.A.
- Evonik Industries AG
- ExxonMobil Corporation
- Infineum International Limited
- Innospec
- LANXESS
- QAFAC (Industries Qatar)
- Shell plc
- The Lubrizol Corporation
- TotalEnergies
- VeryOne SaS (EURENCO)
- Xinxiang Richful Lube Additive Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/u6mvmu
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