New York, NY, Feb. 12, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Automotive Aftermarket Fuel Additives Market by Type (Multifunctional Gasoline & Diesel Additives, Diesel Performance Additives, Gasoline Performance Additives, Specialties for Gasoline, Cold Flow Improvers, and Others), by Application (Gasoline and Diesel), and by Distribution Channel (Automotive Workshops, 4S Stores, Unauthorized Spare Parts and Service Centers, Big Stores, E-Commerce, Gas Stations, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global automotive aftermarket fuel additives market was valued at approximately USD 1,052 million in 2018 and is expected to generate around USD 1,695 million by 2025, at a CAGR of around 7.05% between 2019 and 2025.
The global automotive aftermarket fuel additives market likely to be fuelled by the rapid production of automobiles, owing to the rise in per capita income of the people in developing countries over the estimated timeframe. The aftermarket fuel additives are mainly used to improve the performance of vehicles by minimizing maintenance costs. Additives are also utilized to prevent or limit the build-up of deposits in the engine, which, in turn, extends the shelf life of automobiles, thereby allowing the vehicle owners delay the vehicle maintenance. This is another factor anticipated to contribute toward the growth of the automotive aftermarket fuel additives market in the future. The increase in the acceptance of biofuels is also expected to positively impact the automotive aftermarket fuel additives market in the years ahead. The enforcement of strict regulations for sustainability and the need to reduce carbon emissions and air pollution are likely to offer lucrative growth avenues for the automotive aftermarket fuel additives market in the future. However, the high initial investment costs might hinder the automotive aftermarket fuel additives market growth globally.
Browse through 42 Tables & 27 Figures spread over 110 Pages and in-depth TOC on “Global Automotive Aftermarket Fuel Additives Market: Size, Trends, Industry Share and Forecast, 2018–2025”.
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Based on the type, the global automotive aftermarket fuel additives market is segmented into multifunctional gasoline and diesel additives, diesel performance additives, gasoline performance additives, and specialties for gasoline, cold flow improvers, and others. Multifunctional gasoline and diesel additives are expected to dominate the automotive aftermarket fuel additives market in the future, due to usefulness in maintaining engine cleanliness, enhancing durability, reducing emissions, improving engine performance, extending maintenance intervals, etc. On the basis of application, the automotive aftermarket fuel additives market is categorized into gasoline and diesel. Gasoline is expected to dominate the market, due to the rising demand for high-performance gasoline and stringent emission regulations. On the basis of the distribution channel, the market for automotive aftermarket fuel additives is categorized into automotive workshops, 4s stores, unauthorized spare parts and service centers, big stores, e-commerce, gas stations, and others. Big stores are likely to dominate the automotive aftermarket fuel additives market in the years ahead, owing to them being the most preferred mode of distributing fuel additives.
North America held a significant revenue share of the global automotive aftermarket fuel additives market and is expected to dominate in the upcoming years as well. This can be attributed to the stringent environmental regulations for protecting the environment and reducing GHG emissions. Moreover, the increasing acceptance of biofuels coupled with higher additive rates throughout the region is anticipated to further boost this regional market in the years ahead.
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The Asia Pacific automotive aftermarket fuel additives market is projected to register the highest growth rate over the forecast timeframe, owing to the rising regional population. The high production of automobiles along with the rise in per capita income of the people is another key factor projected to fuel the Asia Pacific automotive aftermarket fuel additives market in the upcoming years. Moreover, the rising demand for gasoline additives for light commercial vehicles is likely to positively impact this regional market over the estimated timeline.
The European region is expected to provide significant growth opportunities in the global automotive aftermarket fuel additives market over the estimated timeframe. This regional growth can be attributed to the increasing demand for ultra-low sulfur diesel (ULSD) for light and heavy commercial vehicles.
Browse the full “Automotive Aftermarket Fuel Additives Market by Type (Multifunctional Gasoline & Diesel Additives, Diesel Performance Additives, Gasoline Performance Additives, Specialties for Gasoline, Cold Flow Improvers, and Others), by Application (Gasoline and Diesel), and by Distribution Channel (Automotive Workshops, 4S Stores, Unauthorized Spare Parts and Service Centers, Big Stores, E-Commerce, Gas Stations, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/automotive-aftermarket-fuel-additives
Some key players operating in the global automotive aftermarket fuel additives market include Chevron Corporation, Ashland Inc., Evonik Industries AG, BASF SE, BG Products, Inc., Infineum International Ltd., Afton Chemical Corporation, Lubrizol Corporation., Innospec Specialty Chemicals, Total S.A., and Lucas Oil Products Inc.
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This report segments the global automotive aftermarket fuel additives market into:
Global Automotive Aftermarket Fuel Additives Market: Type Analysis
- Multifunctional Gasoline and Diesel Additives
- Diesel Performance Additives
- Gasoline Performance Additives
- Specialties for Gasoline
- Cold Flow Improvers
- Others
Global Automotive Aftermarket Fuel Additives Market: Application Analysis
- Gasoline
- Diesel
Global Automotive Aftermarket Fuel Additives Market: Application Analysis
- Automotive Workshops
- 4S Stores
- Unauthorized Spare Parts and Service Centers
- Big Stores
- E-Commerce
- Gas Stations
- Others
Global Automotive Aftermarket Fuel Additives Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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