Aug 22, 2020   SOURCE: BusinessWire

Global Fuel Additives Market 2020-2025- Growth, Trends, and Forecast - ResearchAndMarkets.com

The "Fuel Additives Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The market for fuel additives is expected to register a CAGR of around 5.5%, during the forecast period. Owing to the enactment of stringent environmental regulations across the world, the formulations of different petroleum fuels are changing gradually. This factor has been driving the demand for fuel additives, in the recent scenario. However, there is an increasing demand for battery electric vehicles (BEVs) in countries, such as the United States, China, and Germany. This, along with high R&D costs of fuel additives and the impact of the COVID-19 pandemic, may hamper the growth of the market studied during the forecast period.

Accelerating demand for ultra-low-sulfur diesel (ULSD) is likely to act as an opportunity for market growth, in the future. North America dominated the fuel additives market, owing to the high demand from various applications.

Gasoline to Dominate the Market

  • As with diesel, gasoline engine technologies and fuels are constantly evolving and providing new challenges. The growth in the consumption of gasoline additive largely reflects the requirements of engine design and developments in refinery operations. The additive cost is less than 0.3% of the average retail gasoline price.
  • Port injection fuel delivery systems used to be the norm. However, new gasoline direct injection or GDI technology is becoming standard equipment in many new cars, especially in high-performance vehicles. In this innovative fuel delivery system, the injector is placed inside the combustion chamber, yielding improved combustion to produce better performance, improved gas mileage, and fewer emissions. Deposits in GDI systems are extremely hard to remove and require more fuel additives.
  • Fuel additives, such as isooctane, have so far been produced from mineral oil. However, a French-German company, Global Bioenergies, started producing bio-based additives for gasoline. The raw material used for bio-based fuel additives is bio-based isobutene, a hydrocarbon, from which plastics and elastomers can also be synthesized.
  • In order to prevent air-fuel mixture in the gasoline engine from self-igniting prematurely, additives are included with fuel to increase the knock resistance. In a project funded by the German Federal Ministry of Education and Research (BMBF), the French-German company, Global Bioenergies, aimed to produce two such additives, namely, isooctane and ETBE (ethyl-tert-butyl ether), for the first time from purely renewable resources. Hence, such developments are highly likely to create new opportunities for the gasoline fuel additives market.

Competitive Landscape

The global fuel additives market is fragmented in nature, with the top five players accounting for around 30% of the market share. Afton Chemical is the market leader, with an extensive product portfolio of fuel additives, such as gasoline fuel additive packages and diesel fuel additive packages. It is followed by The Lubrizol Corporation, Innospec Inc., Chevron Corporation, and BASF SE, in terms of the market share.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Enactment of Stringent Environmental Regulations

4.2 Restraints

4.2.1 Increasing Demand and Penetration of Battery Electric Vehicles (BEVs)

4.2.2 High Costs of R&D Activities

4.2.3 Impact of the COVID-19 Pandemic

4.3 Industry Value Chain Analysis

4.4 Porter's Five Forces Analysis

4.4.1 Bargaining Power of Suppliers

4.4.2 Bargaining Power of Consumers

4.4.3 Threat of New Entrants

4.4.4 Threat of Substitute Products and Services

4.4.5 Degree of Competition

4.5 Patent Analysis

5 MARKET SEGMENTATION

5.1 Product Type

5.2 Application

5.3 Geography

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Market Ranking Analysis

6.3 Strategies Adopted by Leading Players

6.4 Company Profiles

6.4.1 Afton Chemical

6.4.2 Baker Hughes (General Electric)

6.4.3 BASF SE

6.4.4 Chevron Corporation

6.4.5 Clariant

6.4.6 Croda International Plc

6.4.7 Dorfketal Chemicals (I) Pvt Ltd

6.4.8 Eni SpA

6.4.9 Evonik Industries AG

6.4.10 Exxon Mobil Corporation

6.4.11 Infineum International Limited

6.4.12 Innospec Inc.

6.4.13 LANXESS

6.4.14 QAFAC

6.4.15 Royal Dutch Shell PLC

6.4.16 The Lubrizol Corporation

6.4.17 Total SA

6.4.18 VeryOne SaS (EURENCO)

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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