Global Gasoline Fuel Additives Market is segmented By Type (Deposit Control Additives, Corrosion Inhibitors, Fiction Modifiers, Antioxidants, Demulsifiers/Dehazers/Emulsion Preventives, Conductivity Improvers, Metal Deactivators, Markers & dyes, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Global "Gasoline Fuel Additives Market" Expected to reach a high CAGR during the forecasting period (2022-2029).
- Gasoline fuel additives are used to increase the Octane rating. Octane ratings are the numerical value of the knock resistance of a specific fuel. Gasoline additives have the added ability to inhibit corrosion, and as a lubricator to improve the fuel traveling through the engine issues. All of these issues can increase the compression ratio for higher power and engine efficiency.
- The growth in gasoline additive use mainly reflects developments in engine design and refinery operations.
- Gasoline demand is primarily driven by transport in Non-OECD countries such as China and India
- Global oil demand is undergoing a structural shift. OECD oil demand decreased by 3 million barrels per day (MB/d) from 2000-2015, while demand in non-OECD countries grew by 21 MB/d. This change is majorly attributed to two reasons – the first high growth of the Chinese oil industry from 2000 to 2013, and the second rapid growth in India’s oil demand.
- The growth of gasoline demand is high in Asian emerging countries due to continuous industrialization, rising per capita incomes, and increasing use of gasoline in the transport industry.
- The transport sector holds a significant share of approximately 63% of global oil demand and fastest-growing among all other areas. The growing transport industry in non-OECD countries is one of the major drivers of the gasoline fuel additives market.
- The United States gasoline demand is an upsurge due to summer driving season
- The United States gasoline demand accounted for 10% of the global consumption and reached a record high since 2012.
- In 2017, the United States gasoline demand was decreased by 0.3% to 9.29 MB/d. However, the demand has reached 9.33 MB/d in 2018 which is a 0.4% increase from the previous year.
- Fuel additives in the United States are regulated under section 211 of the Clean Air Act. The Environmental Protection Agency (EPA) requires the registration of all fuel additives which are commercially distributed for use in highway motor vehicles in the United States and may require testing and ban harmful additives. The EPA also regularly reviews the health and net economic benefits of Clean Air Act policies.
- Growing interest towards Electric vehicles in the world is the significant restraint of the market
- Stringent environmental regulations on internal combustion engines, combined with technological advancements in the automotive industry, are driving the surge in demand for Electric vehicles (EVs). Worldwide sales of pure battery EVs (excluding hybrids) grew by approximately 45% in 2016. The increase in EV sales across the world especially in European countries such as Norway and France is one of the reasons for a decline in the consumption of Gasoline Fuel Additives in this region.
- Gasoline Fuel Additives market is classified based on various types such as Deposit Control Additives, Corrosion Inhibitors, Antioxidants, Demulsifiers/Dehazers/Emulsion Preventives, Conductivity Improvers, Fiction modifiers, Markers & dyes, metal deactivators, and others. Deposit control additives are generally referred to as detergents, and it is used to keep the en-tire fuel system clean and free of additional matter. Deposit control additives have a dominant market share with approximately 38% of total gasoline fuel additives market followed by antioxidants and corrosion inhibitors.
- The report segments the geographies by region, which include North America, South America, Europe, Asia Pacific, and Rest of the World.
- Asia-Pacific is the leading market for Gasoline Fuel Additives owing to growing automotive sales in this region. Moreover, Asia-Pacific is expected to grow at a higher pace due to strong government support with ad-hoc tax incentives. However, Japan continues to reduce its fuel oil usage in favor of natural gas, coal, and restarting nuclear plants.
- In Saudi Arabia, a focus on increasing natural gas electricity generation capacity is contributing to fuel oil’s decline in 2017 and 2018.
- The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
- The report profiles the following companies, which include Total SA, Chevron Corporation, Clariant AG, Evonik Industries, Shell, and many more.
Market Report Scope
- Deposit Control Additives
- Corrosion Inhibitors
- Fiction Modifiers
- Demulsifiers/Dehazers/Emulsion Preventives
- Conductivity Improvers
- Metal Deactivators
- Markers & Dyes
- Asia Pacific
- North America
- South America
- Rest of the World
Why purchase the report?
- Visualize the composition of the Gasoline Fuel Additives market across each indication, regarding type and applications, highlighting the vital commercial assets and players.
- Identify commercial opportunities in gasoline fuel additives market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of the gasoline fuel additives market-level 4/5 segmentation
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
- Product mapping in excel for the vital Gasoline Fuel Additives market products of all major market players
- Raw Material Suppliers/ Buyers
- Product Suppliers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
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