Aftermarket Fuel Additives Market Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

According to a recent report by Transparency Market Research, the global aftermarket fuel additives market is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.2% between 2017 and 2025. If these projections hold true, the market is set to reach a valuation of US$1,167.9 million by the end of 2025, compared to its estimated worth of US$628.64 million in 2016.

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Advantages Driving Demand
Aftermarket fuel additives offer various advantages, including enhancing the performance of gasoline and diesel fuels in vehicles. They address issues related to engine performance, lost fuel economy, poor drivability, and excessive emissions. Additionally, these additives are employed for preventive maintenance, contributing to overall vehicle efficiency.
Despite these positive trends, the growth of the aftermarket fuel additives market faces challenges such as low consumer awareness in developing countries and limited availability of aftermarket products as retail items.

Product Segmentation and Leading Demand Drivers
The aftermarket fuel additives market is segmented based on product type, fuel type, end-user, and geography. Deposit control products, which unclog deposits affecting engine performance, lead the product types in terms of demand. The market is further categorized by fuel type into gasoline, diesel, and others, with the automotive sector being a significant end-user, including passenger vehicles, light commercial vehicles, and heavy commercial vehicles.

Regional Dynamics
In 2016, North America led the global aftermarket fuel additives market in terms of revenue, closely followed by Europe. Together, these regions accounted for over 50% of the market share. However, over the forecast period, North America and Europe are expected to experience a decline in market share.
Contrastingly, Asia Pacific is anticipated to exhibit a higher growth rate between 2017 and 2025, driven by economic development and increased enforcement of norms to reduce vehicular emissions and improve fuel efficiency.

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Key Players
Leading players in the global aftermarket fuel additives market include Afton Chemical Corporation, Chevron Corporation, Evonik Company, Lubrizol Corporation, and Total S.A.

The global aftermarket fuel additives market has been segmented as follows:
Product Analysis
• Octane Booster
• Cetane Improver
• Corrosion Inhibitor
• Antioxidants
• Deposit Control
• Cold Flow Improver
• Combustion Improver
• Anti-icing
• Dehazer/Demulsifier
• Biocide
• Others

Fuel Type Analysis
• Gasoline
• Diesel
• Others

End-user Industry Analysis
• Automotive
• Passenger Vehicles
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Oil & Gas
• Others

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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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This release was published on openPR.