The factors such as rising awareness among users regarding the advantages of fuel additives, demand of high fuel efficiency, and strict regulations adopted by different countries acts as major drivers of the market. The increasing diffusion of Ultra-Low Sulphur Diesel (ULSD) is anticipated to drive the demand of market particularly in the emerging countries. The global market has promising future owing to increasing applications, technological advancements, and the rising demand from end-user industries. Asia Pacific is anticipated to lead the market in terms of consumption due to fuel demand from the developing economies such as India, Japan, and China. Increase in vehicle fleet particularly in India and China are fueling the market growth.
The North American market will also continue to grow at a higher rate driven by the strict environmental regulations. The increasing demand from end user markets is a major factor favoring the North American market. The increasing environmental interference to lessen emission of harmful gases into atmosphere has been driving the market in Europe. Diesel additives segment is the largest application segment accounted for nearly 50% of the total demand owing to growing consumption of ULSD, which requires more dosing of additives. Gasoline emerged as the top fuel, the demand for gasoline has highest growth only in the U.S. due to the country's increasing consumption of gasoline. Deposit control additives dominated the additives market worldwide and accounted for more than 30% of the total demand. The increasing demand for detergents as additives in fuel acts as a major factor increasing the sale of deposit control additives.
The key players in the Fuel Additives market include BASF SE, Innospec Inc., Albemarle Inc., Evonik Industries Ag, Chemtura Corporation, Chevron Oronite Incorporation, The Lubrizol Corporation, Afton Chemical Corporation, Infineum International Ltd., and Dorf-Ketal Chemicals India Private Limited.
o New Zealand
o Rest of Asia
o Middle East
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- Market forecasts for a minimum of 8 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
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