Specialty Fuel Additives Market by Product and Application - Global Industry Analysis and Forecast to 2023
Published On : February 2018 Pages : 70 Category: Automotive & Transportations Report Code : AT02608
Industry Trend Analysis
In 2017, the global specialty fuel additives market was evaluated around USD 5.67 billion and is expected to reach approximately USD 9.95 billion by 2023 while registering itself at a compound annual growth rate (CAGR) of 6.44% over the forecast period. Rising demand for efficient and low emission energy resource from the automobiles, manufacturing, and aviation combined with the strict environmental policies are estimated the drive the growth of the global market. The rising toxic emissions levels as an outcome of fuel utilized in vehicles have contributed to the adverse effects on the environment. This has directed to an amplified utilization of specialty additives around the globe, which aids to control the emissions of harmful gas from the automobile. They assist in enhancing the efficiency of diesel, distillates, gasoline, and other fuels. It abbreviates burning and combustion rate in elevated temperatures as well as avoids terrible pollutants emissions. The increasing trend of supplements in biodiesel mixture in the European and North American regions to gain proficient cold flow performance is anticipated to fuel the demand for the product. The constant rise in price owing to rising pressure on staples is likely to impact the market growth unfavorably over the approaching years. The continuous concentration on new product innovation and development in the specialty fuel additives to trim down exhaust emissions as well as amend mileage is anticipated to boost the potential growth. The advent of new engine technology, as well as demand for superior efficiency, is directing to the product growth. The United States, India, and China are anticipated to rule the global specialty fuel additives market.
Product Outlook and Trend Analysis
According to the product, the global market is split into cold flow improvers, cetane improvers, deposit control additive, lubricity improvers, corrosions inhibitors, antioxidants, and other products like metal deactivators and dyes & markers. In 2017, deposit control supplements appear as the leading segment reporting for USD 607-kiloton of the overall market volume. The deposit control section is anticipated to grow at high compound annual growth rate on an outcome of the growing utilization of detergents as fuel supplements. In 2017, the others section that includes metal deactivators and dyes & markers reported for around 30% of the additives industry. Rising preference for biofuel in Europe and the North America is anticipated to fuel the market demand for the product during the approaching years. Emission control policies enforced in the Asian and European countries are also estimated to encourage the specialty additives market growth over the projected period.
Application Outlook and Trend Analysis
Key applications of these additives are aviation fuels, gasoline, and diesel. The diesel section is expected to report for the leading share of 46%, concerning volume, over 2024, emerging at the highest compound annual growth rate during the forecast years. Rising gasoline intake mostly in China and the U.S. is anticipated to be a key driver for gasoline applications of specialty fuel additives. Though, owing to increasing diesel popularity, the gasoline demand has become inactive in other regions of the globe. Aviation turbine section is expected to grow at a compound annual growth rate of 5.4% over the forecast period. Modification in trend for electric vehicles in developing as well as developed countries will most likely pose a hazard to the available IC engine vehicles and hence the fuel supplements.
Regional Outlook and Trend Analysis
Asia-Pacific region is expected to rule the global specialty fuel additives market. Asia-Pacific is anticipated to grow at the top compound annual growth rate owing to the demand for increasing efficiency, rapid industrialization, and enforcement of strict emission control guideline in India, Japan, and China. Speedily developing automotive industry across the Asia Pacific region will positively impact the demand for fuel supplements over the projected period. Asia Pacific regional automotive sales have experienced a growth of around 7% over the forecast period, with South East Asian economies possessing the majority of the growth potential. North American region is anticipated to seize the subsequent highest share complied by the Middle East and Europe. The European regional specialty fuel additives industry growth is expected fuel owing to growing environmental policies along with rising biofuels demand are predicted to boost the regional market.
Competitive Outlook and Trend Analysis
The top companies operating in the global market are occupied in research and development activities to gain product improvement and a competitive advantage. A few of the key companies are BASF SE, NewMarket, Infineum, and Innospec. Other market players in the distribution and manufacturing of the product are Baker Hughes, Albemarle, NALCO Champion, Chemtura, Chevron Oronite, Dow Chemical Company, Lubrizol, Evonik Industries, Total Additives and Special Fuels, Dorf Ketal, Clariant, and Eurenco among others.
The global specialty fuel additives market is segmented as follows –
By Product
- Deposit control additives
- Cetane improvers
- Antioxidants
- Lubricity improvers
- Cold flow improvers
- Corrosion inhibitors
- Others
By Application
- Gasoline
- Diesel
- Aviation turbine fuel
- Others
By Region
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia Pacific
- Rest of the World
- Brazil
- South Africa
- Saudi Arabia
- United Arab Emirates
- Others
Some of the key questions answered by the report are:
· What was the market size in 2017 and forecast from 2017 to 2023?
· What will be the industry market growth from 2017 to 2023?
· What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
· What are the major segments leading the market growth and why?
· Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Market Classification
- Specialty Fuel Additives Market, By Product, Estimates and Forecast, 2014-2023 ($Million)
- Deposit control additives
- Antioxidants
- Cetane improvers
- Cold flow improvers
- Lubricity improvers
- Corrosion inhibitors
- Other Products
- Specialty Fuel Additives Market, By Application, Estimates and Forecast, 2014-2023 ($Million)
- Diesel
- Aviation turbine fuel
- Gasoline
- Other Applications
- Specialty Fuel Additives Market, By Region, Estimates and Forecast, 2014-2023 ($Million)
- North America
- North America Specialty Fuel Additives Market, By Country
- North America Specialty Fuel Additives Market, By Product
- North America Specialty Fuel Additives Market, By Application
- U.S. Specialty Fuel Additives Market, By Product
- U.S. Specialty Fuel Additives Market, By Application
- Canada Specialty Fuel Additives Market, By Product
- Canada Specialty Fuel Additives Market, By Application
- Mexico Specialty Fuel Additives Market, By Product
- Mexico Specialty Fuel Additives Market, By Application
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- Europe
- Europe Specialty Fuel Additives Market, By Country
- Europe Specialty Fuel Additives Market, By Product
- Europe Specialty Fuel Additives Market, By Application
- Germany Specialty Fuel Additives Market, By Product
- Germany Specialty Fuel Additives Market, By Application
- France Specialty Fuel Additives Market, By Product
- France Specialty Fuel Additives Market, By Application
- UK Specialty Fuel Additives Market, By Product
- UK Specialty Fuel Additives Market, By Application
- Italy Specialty Fuel Additives Market, By Product
- Italy Specialty Fuel Additives Market, By Application
- Spain Specialty Fuel Additives Market, By Product
- Spain Specialty Fuel Additives Market, By Application
- Rest of Europe Specialty Fuel Additives Market, By Product
- Rest of Europe Specialty Fuel Additives Market, By Application
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- Asia-Pacific
- Asia-Pacific Specialty Fuel Additives Market, By Country
- Asia-Pacific Specialty Fuel Additives Market, By Product
- Asia-Pacific Specialty Fuel Additives Market, By Application
- Japan Specialty Fuel Additives Market, By Product
- Japan Specialty Fuel Additives Market, By Application
- Australia Specialty Fuel Additives Market, By Product
- Australia Specialty Fuel Additives Market, By Application
- India Specialty Fuel Additives Market, By Product
- India Specialty Fuel Additives Market, By Application
- South Korea Specialty Fuel Additives Market, By Product
- South Korea Specialty Fuel Additives Market, By Application
- Rest of Asia-Pacific Specialty Fuel Additives Market, By Product
- Rest of Asia-Pacific Specialty Fuel Additives Market, By Application
- Asia-Pacific
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- Rest of the World
- Rest of the World Specialty Fuel Additives Market, By Country
- Rest of the World Specialty Fuel Additives Market, By Product
- Rest of the World Specialty Fuel Additives Market, By Application
- Brazil Specialty Fuel Additives Market, By Product
- Brazil Specialty Fuel Additives Market, By Application
- South Africa Specialty Fuel Additives Market, By Product
- South Africa Specialty Fuel Additives Market, By Application
- Saudi Arabia Specialty Fuel Additives Market, By Product
- Saudi Arabia Specialty Fuel Additives Market, By Application
- Turkey Specialty Fuel Additives Market, By Product
- Turkey Specialty Fuel Additives Market, By Application
- United Arab Emirates Specialty Fuel Additives Market, By Product
- United Arab Emirates Specialty Fuel Additives Market, By Application
- Others Specialty Fuel Additives Market, By Product
- Others Specialty Fuel Additives Market, By Application
- Rest of the World
Table of Contents
1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
2. Executive Summary
2.1. Key Highlights
3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Rising Demand for Biofuels
3.2.1.2. Stringent Regulatory Standards for Emission Control around the World
3.2.2. Restraints
3.2.2.1. Increasing Demand for Fuel Alternatives such as CNG/Autogas
3.2.3. Opportunities
3.2.3.1. Increasing R&D efforts Related to Sustainable Fuel Additives
4. Specialty Fuel Additives Market, By Product
4.1. Introduction
4.2. Global Specialty Fuel Additives Sales, Revenue and Market Share by Product (2017-2017)
4.2.1. Global Specialty Fuel Additives Sales and Sales Share by Product (2017-2017)
4.2.2. Global Specialty Fuel Additives Revenue and Revenue Share by Product (2017-2017)
4.3. Specialty Fuel Additives Market Assessment and Forecast, By Product, 2017-2023
4.4. Deposit control additives
4.4.1. Market Assessment and Forecast, By Region, 2017-2023 ($Million)
4.5. Antioxidants
4.5.1. Market Assessment and Forecast, By Region, 2017-2023 ($Million)
4.6. Cetane improvers
4.6.1. Market Assessment and Forecast, By Region, 2017-2023 ($Million)
4.7. Cold flow improvers
4.7.1. Market Assessment and Forecast, By Region, 2017-2023 ($Million)
4.8. Lubricity improvers
4.8.1. Market Assessment and Forecast, By Region, 2017-2023 ($Million)
4.9. Corrosion inhibitors
4.9.1. Market Assessment and Forecast, By Region, 2017-2023 ($Million)
4.10. Other Products
4.10.1. Market Assessment and Forecast, By Region, 2017-2023 ($Million)
5. Specialty Fuel Additives Market, By Application
5.1. Introduction
5.2. Global Specialty Fuel Additives Sales, Revenue and Market Share by Application (2017-2017)
5.2.1. Global Specialty Fuel Additives Sales and Sales Share by Application (2017-2017)
5.2.2. Global Specialty Fuel Additives Revenue and Revenue Share by Application (2017-2017)
5.3. The Specialty Fuel Additives Market Assessment and Forecast, By Application, 2017-2023
5.4. Diesel
5.4.1. Market Assessment and Forecast, By Region, 2017-2023 ($Million)
5.5. Aviation turbine fuel
5.5.1. Market Assessment and Forecast, By Region, 2017-2023 ($Million)
5.6. Gasoline
5.6.1. Market Assessment and Forecast, By Region, 2017-2023 ($Million)
5.7. Other Applications
5.7.1. Market Assessment and Forecast, By Region, 2017-2023 ($Million)
6. Specialty Fuel Additives Market, By Region
6.1. Introduction
6.2. Specialty Fuel Additives Market Assessment and Forecast, By Region, 2017-2023 ($Million)
6.3. Global Specialty Fuel Additives Sales, Revenue and Market Share by Regions
6.3.1. Global Specialty Fuel Additives Sales by Regions (2017-2017)
6.3.2. Global Specialty Fuel Additives Revenue by Regions (2017-2017)
6.4. North America
6.4.1. North America Specialty Fuel Additives Sales and Growth Rate (2017-2017)
6.4.2. Market Assessment and Forecast, By Country, 2017-2023 ($Million)
6.4.3. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.4.4. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.4.5. U.S.
6.4.5.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.4.5.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.4.6. Canada
6.4.6.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.4.6.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.4.7. Mexico
6.4.7.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.4.7.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.5. Europe
6.5.1. Europe Specialty Fuel Additives Sales and Growth Rate (2017-2017)
6.5.2. Market Assessment and Forecast, By Country, 2017-2023 ($Million)
6.5.3. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.5.4. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.5.5. Germany
6.5.5.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.5.5.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.5.6. France
6.5.6.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.5.6.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.5.7. UK
6.5.7.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.5.7.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.5.8. Italy
6.5.8.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.5.8.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.5.9. Spain
6.5.9.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.5.9.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.5.10. Rest of Europe
6.5.10.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.5.10.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.6. Asia-Pacific
6.6.1. Asia-Pacific Specialty Fuel Additives Sales and Growth Rate (2017-2017)
6.6.2. Market Assessment and Forecast, By Country, 2017-2023 ($Million)
6.6.3. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.6.4. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.6.5. Japan
6.6.5.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.6.5.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.6.6. China
6.6.6.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.6.6.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.6.7. Australia
6.6.7.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.6.7.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.6.8. India
6.6.8.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.6.8.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.6.9. South Korea
6.6.9.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.6.9.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.6.10. Rest of Asia-Pacific
6.6.10.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.6.10.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.7. Rest of the World
6.7.1. Rest of the World Specialty Fuel Additives Sales and Growth Rate (2017-2017)
6.7.2. Market Assessment and Forecast, By Country, 2017-2023 ($Million)
6.7.3. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.7.4. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.7.5. Brazil
6.7.5.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.7.5.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.7.6. Turkey
6.7.6.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.7.6.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.7.7. Saudi Arabia
6.7.7.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.7.7.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.7.8. South Africa
6.7.8.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.7.8.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.7.9. United Arab Emirates
6.7.9.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.7.9.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
6.7.10. Others
6.7.10.1. Market Assessment and Forecast, By Product, 2017-2023 ($Million)
6.7.10.2. Market Assessment and Forecast, By Application, 2017-2023 ($Million)
7. Company Profiles
7.1. NewMarket Corporation
7.1.1. Business Overview
7.1.2. Product Portfolio
7.1.3. Strategic Developments
7.1.4. Specialty Fuel Additives Sales, Revenue and Market Share
7.2. BASF SE
7.2.1. Business Overview
7.2.2. Product Portfolio
7.2.3. Strategic Developments
7.2.4. Specialty Fuel Additives Sales, Revenue and Market Share
7.3. Innospec Inc.
7.3.1. Business Overview
7.3.2. Product Portfolio
7.3.3. Strategic Developments
7.3.4. Specialty Fuel Additives Sales, Revenue and Market Share
7.4. Infineum International Limited
7.4.1. Business Overview
7.4.2. Product Portfolio
7.4.3. Strategic Developments
7.4.4. Specialty Fuel Additives Sales, Revenue and Market Share
7.5. Albemarle Corp
7.5.1. Business Overview
7.5.2. Product Portfolio
7.5.3. Strategic Developments
7.5.4. Specialty Fuel Additives Sales, Revenue and Market Share
7.6. Chemtura Corporation
7.6.1. Business Overview
7.6.2. Product Portfolio
7.6.3. Strategic Developments
7.6.4. Specialty Fuel Additives Sales, Revenue and Market Share
7.7. Chevron Oronite Company
7.7.1. Business Overview
7.7.2. Product Portfolio
7.7.3. Strategic Developments
7.7.4. Specialty Fuel Additives Sales, Revenue and Market Share
7.8. Dow Chemical Company
7.8.1. Business Overview
7.8.2. Product Portfolio
7.8.3. Strategic Developments
7.8.4. Specialty Fuel Additives Sales, Revenue and Market Share
7.9. Lubrizol Corporation
7.9.1. Business Overview
7.9.2. Product Portfolio
7.9.3. Strategic Developments
7.9.4. Specialty Fuel Additives Sales, Revenue and Market Share
7.10. Dorf Ketal Chemicals LLC
7.10.1. Business Overview
7.10.2. Product Portfolio
7.10.3. Strategic Developments
7.10.4. Specialty Fuel Additives Sales, Revenue and Market Share
7.11. TOTAL SA
7.11.1. Business Overview
7.11.2. Product Portfolio
7.11.3. Strategic Developments
7.11.4. Specialty Fuel Additives Sales, Revenue and Market Share
7.12. Clariant Corporation
7.12.1. Business Overview
7.12.2. Product Portfolio
7.12.3. Strategic Developments
7.12.4. Specialty Fuel Additives Sales, Revenue and Market Share
8. Global Specialty Fuel Additives Market Competition, by Manufacturer
8.1. Global Specialty Fuel Additives Sales and Market Share by Manufacturer (2017-2017)
8.2. Global Specialty Fuel Additives Revenue and Market Share by Manufacturer (2017-2017)
8.3. Top 5 Specialty Fuel Additives Manufacturer Market Share
8.4. Market Competition Trend
List of Tables and Figures
*You can glance through the list of Tables and Figures when you view the sample copy of Specialty Fuel Additives Market.
Research Methodology
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data Mining
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
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Data Collection Matrix |
Supply Side |
Demand Side |
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Primary Data Sources |
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Secondary Data Sources |
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Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
- Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
- Number of patients for particular device or medical procedure and
- Repeated use of particular device depending on health and condition of patient
- Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
Data Validation
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Data Triangulation
Industry Analysis
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Qualitative Data |
Quantitative Data (2017-2025) |
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