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Fuel Additives and Lubricants Market Forecast to 2026: Chevron, ExxonMobil, The Lubrizol Corporation, Afton Chemical, Evonik, BASF, LANXESS, Total, Innospec Inc., Dorf Ketal, Infineum, Cummins Inc., Blaser Swisslube

01-24-2019 01:48 PM CET | Advertising, Media Consulting, Marketing Research

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Fuel Additives and Lubricants Market

Fuel Additives and Lubricants Market

Global Fuel Additives and Lubricants Market, By Fuel Additives Type (Deposit Control Additives, Cetane Improvers, Antioxidants, Dyes & Markers, Lubricity Improvers, Cold Flow Improvers, Stability Improvers, Corrosion Improvers, Octane Improvers, Anti-Icing Fuel Additives, Others), Lubricant Group (Group I, Group II, Group III, Group IV, Group V), Lubricant Base Stock (Bio-Based Lubricants, Mineral Oil Lubricants, Synthetic Lubricants, Semi-Synthetic Lubricants), Lubricant Type (Engine Oil, Transmission & Hydraulic Fluids, Metalworking Fluids, General Industrial Oils, Gear Oil, Greases, Process Oils, Others), Fuel Additives Application (Diesel Fuel Additives, Aviation Fuel Additives, Gasoline Fuel Additives), Lubricants End-User (Power Generation, Automotive & Other Transportation, Heavy Equipment, Food & Beverage, Metallurgy & Metal Working, Chemical Manufacturing, Others), Fuel Additives End-User (Industrial, Automotive, Marine, Aerospace), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026

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Market Analysis: Global Fuel Additives and Lubricants Market

Global fuel additives market is expected to rise from its initial estimated value of USD 6.75 billion in 2018 to an estimated value of USD 11.13 billion by 2026, registering a CAGR of 6.45% in the forecast period of 2019-2026. Whereas, global lubricants market is expected to rise from its initial estimated value of USD 126.10 billion in 2018 to an estimated value of USD 160.36 billion by 2026, registering a CAGR of 3.05% in the forecast period of 2019-2026.

Key Market Competitors:

Few of the major competitors currently working in the fuel additives and lubricants market are –

• Chevron Corporation,
• Exxon Mobil Corporation,
• The Lubrizol Corporation,
• Afton Chemical,
• Fuel Performance Solutions,
• Evonik Industries AG,
• BASF SE,
• LANXESS,
• Total,
• Innospec,
• Dorfketal Chemicals (I) Pvt. Ltd.,
• Infineum International Limited,
• Cummins Inc.,
• Cerion LLC,
• AMSOIL INC,
• Blaser Swisslube,
• DINOIL ITALIA,
• OILSD,
• ERC Emissions-Reduzierungs-Concepte GmbH,
• Fuel Theft Solutions Ltd,
• XSNANO LTD.,
• TECHNOBIO,
• Forward,
• NCH Corporation

Market Definition:

Fuel additives are the chemical compounds being used for the enhancement of performance, and improved levels of efficiency of the vehicles. While, lubricants can be described as the chemical compounds that are used for improvements in functioning and performance of the vehicle and resulting in less friction between the motor parts and ultimately resulting in reduction of heat generated. They act as inhibitors against the corrosion of the parts of the engine and enhance the life of the vehicle.

Market Drivers:

• Increased growth of the automotive industry and the subsequent rise in demand of fuel additives and lubricants is expected to drive the market growth

• Rise in demand for cleaner and higher performance of fuel and lubricants is also expected to drive the market growth

Market Restraints:

• Growing concerns regarding the depletion of fossil fuels have given rise to demand of alternate fuels which is expected to restrain the market growth

• Requirement of large capital investments for the research & development initiatives and any advancements in technology is also expected to restrain the market growth

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