LUBRICANT AND FUEL ADDITIVES MARKET will reach at $ 12,333.2 million by 2032,BASF SE; Clariant International Ltd.; Evonik Industries AG; Total S.A.; Exxon Mobil Corporation; Croda International Plc; Chevron Corporation; The Lubrizol Corporation; Afton Che

The global fuel additives market was valued at $6,342.7 million globally in 2021, and it is expected to grow at a CAGR of 6.23% during the forecasted period of 2021-2032. This market will reach at $ 12,333.2 million by 2032. The major factors driving the growth of the market are the stringent government emission-control regulations and diverse uses of fuel additives..Deposit control additives are fuel soluble components that are employed in the automotive industry. Commonly used deposit control additives include amides, amines, polybutene succinimides, polyether amines, polyolefin amines, and mannich amines. Deposit control additives are often referred to by the generic term detergents; however, their functions are different to that of conventional detergents used for washing and cleaning purposes. Deposit control additives are designed to keep the entire engine fuel system (from the fuel tank to the combustion chamber) clean. These additives prevent the formation of deposits, particularly on the intake valve and fuel injectors, which are derived from the breakdown of gasoline components. Deposit control additives inhibit deposit creation by forming protective films, which prevent the accumulation of deposit precursors.
List of Key Players Covered in the Report

BASF SA (Germany)
Dow Inc. (U.S.)
Lubrizol Corporation (U.S.)
Evonik Industries AG (Germany)
TotalEnergies (France)
Clariant (Switzerland)
Chemtura (U.S.)
Dorf Ketal Chemicals (India)
Innospec Inc. (U.S.)

Market Size Breakdown by Segments
The fuel additives market report offers comprehensive market segmentation analysis along with market estimation for the period 2015-2030.

Based on Type

Deposit Control
Cetane Improver
Cold Flow Improver
Icing Inhibitor
Lubricity Additive
Antioxidant
Based on Application

Diesel
Gasoline
Aviation Fuel
Marine Fuel
Based on End Use

Automobile
Aviation
Marine
Industrial

Technological advancement in the automotive industry is one of the key factors driving the demand for deposit control additives. In recent years, constant research and development activities in the automobile industry have boosted the demand for deposit control additives in these applications. Rise in demand for automobiles with advanced features and fuel efficiency is anticipated to propel the demand for deposit control additives. Increase in oil exploration activities across the globe is estimated to trigger the deposit control additives market. Development in the consumer industry coupled with surge in demand for products with high fuel efficiency are likely to augment the demand for deposit control additives. Growth in awareness about the environment, mainly in the European Union, the U.S., and China and enactment of favorable government policies to adopt sustainable resources are key factors expected to boost the deposit control additives market. Geographic expansions and other strategies taken by the manufacturers of fuel additives are likely to increase the demand for deposit control additives in the upcoming years.

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Deposit Control Additives Dominated Fuel Additives Market in 2020
The deposit control category accounted for the largest value share in 2020 in the fuel additives market, based on type. The category is further projected to continue leading the market during the forecast period. This is majorly attributed to the multifunctional use of such additives, which is why companies in the market prefer producing them in high volumes. Furthermore, these products are used both for gasoline and diesel fuel, which is why the demand for them is predicted to continue to be high during the forecast period.

Diesel Category Accounted for Largest Market Share in 2020
The diesel category accounted for the largest market share, in terms of value, in 2020, which is expected to further increase at a healthy rate during the forecast period, on the basis of application. This is attributed to the high preference of people for diesel vehicles over those running on gasoline. Moreover, diesel finds a much wider usage in generators and as a marine fuel.

Asia-Pacific (APAC) Is Expected To Retain Its Top Position during Forecast Period
APAC led the global fuel additives market in 2020, and it is expected to remain the largest market during the forecast period. This is attributed to the growth of the petrochemical industry in the region. Moreover, China holds the largest share in the regional market because of the continuous research and development (R&D) in such products and growing automobile industry.

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arket Players Involved in Mergers and Acquisitions to Gain Significant Position
The fuel additives market is fragmented in nature due to the presence of several key players. Major players in the industry include BASF SE, Clariant International Ltd., Evonik Industries AG, Total S.A., Exxon Mobil Corporation, Croda International Plc, Chevron Corporation, The Lubrizol Corporation, Afton Chemical Corporation, Innospec Inc., Lanxess AG, Infineum International Limited, Mitsubishi Gas Chemical Company Inc., Thermax Limited and Songwon Industrial Group.

In recent years, players in the fuel additives market has been involved in partnerships and acquisitions in order to attain a significant position. For instance:

In July 2020, Clariant International Ltd. partnered with Ineratec GmbH, which is an energy equipment and solution provider, in order to produce and commercialize renewable fuels and chemicals. Clariant is providing the catalyst to convert carbon dioxide to valuable chemicals, fuels, and additives. This partnership enhanced the operations of Clariant International Ltd. and provided it with the opportunity to produce and market environment-friendly products.
In May 2020, The Lubrizol Corporation joined a group endorsed by 14 governments and composed of more than 100 organizations, 'Getting to Zero Coalition', to provide low- or zero-carbon fuels.

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Driving Factors

Strict Rules Inflicted by Government Officers to Thrust Market Growth
Owing to the augmented demand for fuel from numerous industries, the market for fuel additives is anticipated to increase promptly. The industry of fuel additives is one that needs extensive research and advanced development. To fulfill the demand from corporations that transform hydrocarbon into fuels to heat energy for different applications such as transportation, electricity production, and others, an extended variety of products has been produced.

The market expansion will be assisted by severe releases control from autos and refineries. Among many aspects endorsing growth and development in the product portfolio of fuel, additives are raising apprehensions about air pollution triggered by the incomplete and complete combustion of hydrocarbons.

Regional Insights

North America to Lead Global Share Backed by Increasing Petroleum Exploration

North America held the largest fuel additives market share and was worth USD 2.70 billion in 2021. North America presently dominates the market and is estimated to do so during the forecasted period.

In regards to volume, Europe is anticipated to grow substantially. The market is predicted to be navigated by the well-settled automotive manufacturing sector and increasing demand for passenger vehicles.

Asia Pacific is among the most flourishing regions. Owing to growing demand from nations such as China and India, the fuel additives sector is estimated to be a considerable driver for the market.

Competitive Landscape

Inventive Product Presentations by Prime Players to Boost Market Growth

The pivotal players embrace numerous tactics to bolster their position in the market as dominating companies. One such major approach is procuring companies to spur the brand value among users. Another effective notion is launching innovative products from time to time with a methodical study of the market and its target customers.

Notable Industry Development:

December 2021: BASF unveiled a novel multiuse diesel additive below the brand name KEROPUR-D in South Korea. It is a high performance versatile diesel additive that eradicates deposits from the engine and avoids the formation of novel deposits.

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