Automotive Aftermarket Fuel Additives Market Segmentation by Type (Deposit Control, Cetane Improvers, Lubricants, Antioxidants, Anticorrosion, Cold Flow Improvers, Antiknock Agents, and Others); and by Application (Diesel, and Gasoline); by Distribution Channel (Big Stores, 4S Stores, Unauthorized Spare Parts & Service Centers, Gas Stations, Automotive Workshops, E-Commerce, and Others)-Global Demand Analysis & Opportunity Outlook 2020-2030

  • Product Code:
    RP-ID-10352277
  • Published Date:
    24 Jan 2022
  • Region:
    Global
  • Pages:
    142
  • Category:
    Automotive & Transportation
  • Publisher:
    Pub-ID-54

Impact Analysis on the Growth of Market

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Market Overview:

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Global Automotive Aftermarket Fuel Additives Market Highlights Over 2020 - 2030

The global automotive aftermarket fuel additives market is estimated to garner a revenue of USD 2249.5 Million by the end of 2030, by growing at a CAGR of 6.0% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market generated a revenue of USD 1245.9 Million. The growth of the market can be attributed to the growing demand for fuel additives to improve fuel efficiency and engine performance of vehicles and for the stringent governmental regulations to limit greenhouse gas (GHG) emissions. There are different types of fuel additives which are categorized based on their usage benefits. For instance, the fuel quality additives help in maintaining fuel quality by reducing fuel degradation, improving fuel stability and inhibiting oxidation. Performance additives, on the other hand, help in improving the engine performance and reduce undesirable emissions. On the other hand, government organizations, such as the U.S. Environmental Protection Agency (EPA), European Union (EU), and California Air Resources Board (CARB) have mandated the standards for fuel additives companies to focus on more efficient and cleaner fuels in the developed nations, especially the United States and Europe. Growing implementation of gasoline direct injection (GDI) engines and efforts to reduce vehicular emissions are some of the additional factors anticipated to contribute to the market growth in the coming years.

 

Global Automotive Aftermarket Fuel Additives Market Graph

 

Moreover, the surge in the sales of vehicles around the globe is also expected to generate numerous opportunities for market growth during the forecast period. According to the statistics by the International Organisation for Motor Vehicle Manufacturers (OICA), the sales of new vehicles around the globe in the year 2019 was 90423687 units. Out of these, 63730387 units were passenger cars and 26693300 units were commercial vehicles.

 

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Automotive Aftermarket Fuel Additives Market Chart

Global Automotive Aftermarket Fuel Additives Market Regional Synopsis

Regionally, the global automotive aftermarket fuel additives market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is projected to display the largest revenue of USD 769.3 Million by the end of 2030, up from a revenue of USD 421.1 Million in the year 2020. The growth of the market in the region can primarily be attributed to the stringent government regulations to lower vehicular emissions, backed by the surge in concern for the rising pollution from vehicles. According to the statistics by the United States Environment Protection Agency (EPA), a typical passenger vehicle is known to emit close to 4.6 Metric Tons of CO2 per year.

On the other hand, the market in the Asia Pacific is expected to grow with the highest CAGR of 7.2% during the forecast period. The market in the region is segmented by country into China, India, Japan, Malaysia, South Korea, New Zealand, Australia, and the Rest of Asia Pacific. Amongst these, the market in China is anticipated to garner the largest revenue of USD 369.2 Million by the end of 2030, up from a revenue of USD 161.3 Million in the year 2020.

Growth Drivers and Challenges Impacting the Growth of the Global Automotive Aftermarket Fuel Additives Market

Growth Drivers

  • Rising Need to Improve Fuel Efficiency and Engine Performance in Vehicles

  • Stringent Governmental Regulations to Limit GHG Emissions

Challenges

  • Growing Adoption of Electric Vehicles

Global Automotive Aftermarket Fuel Additives Market Segmentation Synopsis

The global automotive aftermarket fuel additives market is segmented by type into deposit control, cetane improvers, lubricants, antioxidants, anticorrosion, cold flow improvers, antiknock agents, and others. Out of these, the deposit control segment is anticipated to garner the largest revenue of USD 555.9 Million by the end of 2030, up from a revenue of USD 264.2 Million in the year 2020. By application, the market is segmented into gasoline, and diesel, out of which, the gasoline segment is projected to grow with the highest CAGR of 6.5% during the forecast period. Moreover, by distribution channel, the market is segmented into big stores, 4S stores, unauthorized spare parts & service centers, gas stations, automotive workshops, e-commerce, and others. Out of these, the gas stations segment is projected to display the largest revenue of USD 722.7 Million by the end of 2030, up from a revenue of USD 366.7 Million in the year 2020.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global automotive aftermarket fuel additives market that are included in our report are TotalEnergies Company, Ashland Global Holdings Inc., BASF SE, The Lurizol Corporation, Afton Chemical, Evonik Industries AG, Chevron Corporation, Lucas Oil Products, Inc., Innospec, BG Products, Inc., Infineum International Ltd., and others.

Latest Developments in the Global Automotive Aftermarket Fuel Additives Market:

  • June 8th, 2018: The Lubrizol Corporation launched its new lubricant, Lubrizol PV2500 series additive technology. This lubricant is designed to address low speed pre-ignition (LSPI) to enable more reliable performance of engine.

  • August 24th, 2020: BG Products, Inc. announced that it has reformulated and upgraded its fuel additive, BG Advanced Formula MOA, to be compatible with API SP and GM dexos1 Gen 2 licensed engine oils.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

  • The report includes detailed company profiles of the major players dominating the market.

  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

  • We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.


Geography Analysis:


The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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FREQUENTLY ASKED QUESTIONS

1.      Market Definition

1.1.  Definition

1.2.Market Segmentation

2.    Assumptions and Acronyms

3.    Research Methodology

3.1.Research Process

3.2.                    Primary Research

3.3.                    Secondary Research

4.    Executive Summary-Global Automotive Aftermarket Fuel Additives Market

5.     Market Dynamics

5.1. Market Drivers

5.2.                     Market Restraints

5.3.                     Market Opportunities

5.4.                     Market Trends

6.    Regulatory and Standards Landscape

7.     Supply & Demand Risk Analysis

8.    Porter Five Forces Analysis

9.    Impact of COVID-19 on the Global Market

10.            Global Automotive Aftermarket Fuel Additives Market 2020-2030

10.1.                 Market Overview

10.2.                By Value (USD Million)

11.  Global Automotive Aftermarket Fuel Additives Market-Segmentation Analysis 2020-2030

11.1.                   Type

11.1.1. Deposit Control, 2020-2030F (USD Million)

11.1.2.                       Cetane Improvers, 2020-2030F (USD Million)

11.1.3.                       Lubricants, 2020-2030F (USD Million)

11.1.4.                       Antioxidants, 2020-2030F (USD Million)

11.1.5.                        Anticorrosion, 2020-2030F (USD Million)

11.1.6.                       Cold Flow Improvers, 2020-2030F (USD Million)

11.1.7.                        Antiknock Agents, 2020-2030F (USD Million)

11.1.8.                       Others, 2020-2030F (USD Million)

11.2.                  Application

11.2.1.                       Gasoline, 2020-2030F (USD Million)

11.2.2.                      Diesel, 2020-2030F (USD Million)

11.3.                  Distribution Channel

11.3.1.                       Big Stores, 2020-2030F (USD Million)

11.3.2.                      E-Commerce, 2020-2030F (USD Million)

11.3.3.                      4S Stores, 2020-2030F (USD Million)

11.3.4.                      Unauthorized Spare Parts and Service Centers, 2020-2030F (USD Million)

11.3.5.                      Automotive Workshops, 2020-2030F (USD Million)

11.3.6.                      Gas Stations, 2020-2030F (USD Million)

11.3.7.                      Others, 2020-2030F (USD Million)

11.4.                  Region

11.4.1.                       North America

11.4.2.                      Europe

11.4.3.                      Asia Pacific

11.4.4.                      Latin America

11.4.5.                      Middle East & Africa

12.North America Automotive Aftermarket Fuel Additives Market

12.1.                  Market Overview

12.2.                Market Value (USD Million)

12.3.                Market Segmentation by:

12.3.1.                      Type

12.3.1.1.   Deposit Control, 2020-2030F (USD Million)

12.3.1.2.  Cetane Improvers, 2020-2030F (USD Million)

12.3.1.3.  Lubricants, 2020-2030F (USD Million)

12.3.1.4.  Antioxidants, 2020-2030F (USD Million)

12.3.1.5.  Anticorrosion, 2020-2030F (USD Million)

12.3.1.6.  Cold Flow Improvers, 2020-2030F (USD Million)

12.3.1.7.  Antiknock Agents, 2020-2030F (USD Million)

12.3.1.8.  Others, 2020-2030F (USD Million)

12.3.2.                    Application

12.3.2.1.  Gasoline, 2020-2030F (USD Million)

12.3.2.2.                        Diesel, 2020-2030F (USD Million)

12.3.3.                    Distribution Channel

12.3.3.1.  Big Stores, 2020-2030F (USD Million)

12.3.3.2.                        E-Commerce, 2020-2030F (USD Million)

12.3.3.3.                        4S Stores, 2020-2030F (USD Million)

12.3.3.4.                        Unauthorized Spare Parts and Service Centers, 2020-2030F (USD Million)

12.3.3.5. Automotive Workshops, 2020-2030F (USD Million)

12.3.3.6.                        Gas Stations, 2020-2030F (USD Million)

12.3.3.7. Others, 2020-2030F (USD Million)

12.3.4.                    Country

12.3.4.1.  United States

12.3.4.2.                        Canada

13.Europe Automotive Aftermarket Fuel Additives Market

13.1.                  Market Overview

13.2.                Market Value (USD Million)

13.3.                Market Segmentation by:

13.3.1.                      Type

13.3.2.                    Application

13.3.3.                    Distribution Channel

13.3.4.                    Country

13.3.4.1.  United Kingdom

13.3.4.2.                        Germany

13.3.4.3.                        France

13.3.4.4.                        Italy

13.3.4.5. Spain

13.3.4.6.                        Hungary

13.3.4.7. Benelux

13.3.4.8.                        Nordic

13.3.4.9.                        Poland

13.3.4.10.                    Russia

13.3.4.11.                      Rest of Europe

14.Asia Pacific Automotive Aftermarket Fuel Additives Market

14.1.                  Market Overview

14.2.                Market Value (USD Million)

14.3.                Market Segmentation by:

14.3.1.                      Type

14.3.2.                    Application

14.3.3.                    Distribution Channel

14.3.4.                    Country

14.3.4.1.  China

14.3.4.2.                        India

14.3.4.3.                        Japan

14.3.4.4.                        South Korea

14.3.4.5. Indonesia

14.3.4.6.                        Malaysia

14.3.4.7. Australia

14.3.4.8.                        New Zealand

14.3.4.9.                        Rest of Asia Pacific

15. Latin America Automotive Aftermarket Fuel Additives Market

15.1.                  Market Overview

15.2.                 Market Value (USD Million)

15.3.                 Market Segmentation by:

15.3.1.                      Type

15.3.2.                     Application

15.3.3.                     Distribution Channel

15.3.4.                     Country

15.3.4.1.  Brazil

15.3.4.2. Mexico

15.3.4.3. Argentina

15.3.4.4. Rest of Latin America

16.Middle East & Africa Automotive Aftermarket Fuel Additives Market

16.1.                  Market Overview

16.2.                Market Value (USD Million)

16.3.                Market Segmentation by:

16.3.1.                      Type

16.3.2.                    Application

16.3.3.                    Distribution Channel

16.3.4.                    Country

16.3.4.1.  Israel

16.3.4.2.                        GCC

16.3.4.3.                        North Africa

16.3.4.4.                        South Africa

16.3.4.5. Rest of Middle East & Africa

17. Competitive Landscape

17.1.                  Company Profiles

17.1.1.                        TotalEnergies Company

17.1.2.                      Ashland Global Holdings Inc.

17.1.3.                      BASF SE

17.1.4.                      The Lurizol Corporation

17.1.5.                       Afton Chemical

17.1.6.                      Evonik Industries AG

17.1.7.                       Chevron Corporation

17.1.8.                      Lucas Oil Products, Inc.

17.1.9.                      Innospec

17.1.10.                  BG Products, Inc.

17.1.11.                    Infineum International Ltd.

 

18.Primary Interview Analysis

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  1. TotalEnergies Company
  2. Ashland Global Holdings Inc.
  3. BASF SE
  4. The Lurizol Corporation
  5. Afton Chemical
  6. Evonik Industries AG
  7. Chevron Corporation
  8. Lucas Oil Products, Inc.
  9. Innospec
  10. BG Products, Inc.
  11. Infineum International Ltd.
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