Specialty Fuel Additives Market Report

Specialty Fuel Additives Market Analysis By Product (Deposit Control Additives, Cetane Improvers, Antioxidants, Lubricity Improvers, Cold Flow Improvers, Corrosion Inhibitors), By Application, And Segment Forecasts, 2014 - 2024

Published: June 2017  |  140 Pages  |  Format: PDF  |  Report ID: 978-1-68038-007-1

Industry Insights

The global specialty fuel additives market size was valued at USD 6.15 billion in 2015 and is expected to grow at a CAGR of 7.1% from 2016 to 2024. Growing demand for low emission and efficient energy source from the manufacturing, aviation and automobiles along with the stringent environmental regulations are projected the boost the market growth. 

The increasing levels of toxic emissions as a result of fuel used in vehicles has led to an adverse impact on the environment. This has led to an increased use of specialty additives across the world, which helps curb harmful gas emissions from the vehicle. They help enhance efficiency of gasoline, distillates, diesel, and other fuels. It reduces combustion and burn rate in high temperatures and avoids dreadful emissions of pollutants. 

U.S. specialty fuel additives market revenue by product, 2014 - 2024 (USD Million)

U.S. specialty fuel additives market

The growing trend of additives in biodiesel blends in the North American and European regions to achieve efficient cold flow performance is expected to drive the product demand. Continuous price inflation due to increasing pressure on raw materials is expected to impact industry growth adversely over the coming years.The constant focus on new product development and innovation in the specialty fuel supplements to reduce exhaust emissions and improve mileage is expected to augment the future growth. The introduction of new engine technology and demand for higher efficiency are leading to the growth of the product. The U.S., China, and India are estimated to dominate the additives market.

Product Insights

On the basis of product, the market is segmented into deposit control additive, cetane improvers, lubricity improvers, antioxidants, corrosions inhibitors, cold flow improvers, and other products such as dyes & markers and metal deactivators. Deposit control supplements emerged as the dominant segment accounting for USD 607-kilo ton of the total volume, in 2015. 

The deposit control segment is expected to grow at high CAGR on a result of the rising use of detergents as fuel supplements. The others segment that comprises of dyes & markers and metal deactivators accounted for approximately 30% of the supplements market in 2015. Cold- flow improvers are anticipated to grow at the highest CAGR from 2016 to 2024 in the North American and European region.

Growing preference for biofuel in the North America and Europe is expected to boost the demand for the product over the coming years. Emission control regulations implemented in the European and Asian countries is also expected to spur the growth of the specialty additives market over the forecast period.  

Application Insights

Major applications of these additives include gasoline, diesel, and aviation fuels. The diesel segment is estimated to account for the largest share of 46%, in terms of volume, in 2024, growing at the highest CAGR over the forecast period.

U.S. specialty fuel additives market revenue by application, 2014 - 2024 (Kilo tons)

U.S. specialty fuel additives market

Increasing gasoline intake majorly in the U.S. and China is expected to remain a key driving factor for specialty fuel additives in gasoline applications. However due to rising diesel popularity demand for gasoline has become stagnant in other parts of the world. Aviation turbine segment is estimated to grow at a CAGR of 5.4% from 2016 to 2024. 

Shift in trend towards electric vehicles in developed as well as most of the developing countries will probably pose a threat to the existing IC engine vehicles and thus the fuel supplements. Indian government has recently announced its plans to transform Indian mobility industry for rapid adoption of electric vehicles in the country.

Regional Insights

Asia-Pacific is anticipated to dominate the specialty fuel additives market in 2024. Asia-Pacific is projected to grow at the highest CAGR on account of rapid industrialization, demand for increasing efficiency, and implementation of stringent emission control regulation in China, India, and Japan. 

Rapidly growing automotive industry in Asia Pacific will certainly impact the fuel supplements demand positively over the forecast period. Asia Pacific automotive sales has witnessed a growth of over 7% from 2010 to 2016, with South East Asian countries possessing most of the potential.

North America is expected to hold the second largest share followed by Europe and the Middle East. The European specialty fuel additives market is expected to on account of rising environmental regulations coupled with increasing demand for biofuels are anticipated to drive the market in this region.   

Competitive Insights

The leading companies operating in the industry are engaged in research and development activities to achieve product innovation and gain a competitive edge. Some of the major companies include NewMarket, BASF, Innospec, and Infineum. 

Other companies engaged in the manufacture and distribution of the product include Albemarle, Baker Hughes, Chemtura, Dow Chemical Company, Chevron Oronite, Lubrizol, Total Additives and Special Fuels, Evonik Industries, Dorf Ketal, Eurenco, NALCO Champion and Clariant among others.

Report Scope 

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2014 - 2015

Forecast period

2016 - 2024

Market representation                                                

Volume in tons, revenue in USD Million and CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Canada, Germany, France, UK, China, India, Japan, Saudi Arabia, Brazil

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global specialty fuel additives market on the basis of product and region:

  • Product Outlook (Volume, Kilo tons; Revenue, USD Million, 2014 - 2024)
    • Deposit control additives

    • Cetane improvers

    • Antioxidants

    • Lubricity improvers

    • Cold flow improvers

    • Corrosion inhibitors

    • Other

  • Application Outlook (Volume, Kilo tons; Revenue, USD Million, 2014 - 2024)

    • Gasoline

    • Diesel

    • Aviation turbine fuel

    • Other

  • Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2014 - 2024)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

      • France

    • Asia Pacific

      • China

      • Japan

      • India

    • Middle East & Africa

      • Saudi Arabia

    • Central & South America

      • Brazil

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