According to the current analysis of Reports and Data, the global Fuel Additives market was valued at USD 8,360.4 Million in 2021 and is expected to reach USD 11,259.7 Million by the year 2030, at a CAGR of 3.3 %. The study covers Deposit Control Additives, which supplement the fuel for various purposes like improving the octane/cetane rating of fuels, protecting of mechanical parts, preventing sludge formation, improving the fuel flow, etc. Recent developments in the Deposit Control Additives space are a synthetic technology, which is causing disruption in the market, due to its performance and protection features.
Rising sales of automobiles worldwide, increasing demand for performance products, the launch of improved products, increasing awareness of the benefits of Deposit Control Additives, availability of funds for favorable research scenarios, and emission norms by governments, are some of the key factors propelling market growth in the industry. However, the rising prevalence of electronic vehicles, high cost of the additives, unavailability of products throughout the globe, and low awareness among end-users towards Deposit Control Additives are the major hindrances to the market growth during 2019-2026
Top Companies Operating in the Global Deposit Control Additives Market:
Lubrizol Corporation, Chevron Oronite, Afton Chemicals, ExxonMobil, LanXess, Innospec, Dorf Ketal, Total Power, STP (Danburry), Gold Eagle, Lubrita (Europe)
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Further key findings from the report suggest
- The Deposit Control additive market is growing at a CAGR of 6% in Asia Pacific followed by North America and Europe, with 4.0 % and 3.0% CAGR, respectively. High growth of the automobile sector across the globe is the key factor to accelerate the market growth during forecast period across all regions
- Global automotive market is expected to register high growth, with sales soaring to a staggering 82.1 million in 2019
- North America is growing at a CAGR of 4 percent; owing to the stringent emission regulations exercised in the region. It is the major source of revenue for the Deposit Control Additives market
- Asia Pacific is expected to account for the 27% of the global Deposit Control Additives market. Developing nations such China, and India are likely to witness high growth
Deposit Control Additives Market Segmentation
Type Outlook (Revenue, USD Million; 2019-2030)
- Deposit Control Additives
- Cetane Improvers
- Lubricity Improvers
- Cold Flow Improvers
- Stability Improvers
- Octane Improvers
- Corrosion Inhibitors
- Anti-icing Deposit Control Additives
- Dyes & Markers
- Others
Application Outlook (Revenue, USD Million; 2019-2030)
- Diesel
- Gasoline
- Aviation Fuel
- Others
End-Use Outlook (Revenue, USD Million; 2019-2030)
- Consumers
- Industries
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