The United States Environmental Protection Agency (EPA) mandates the registration of all diesel and gasoline motor vehicle fuel additives in accordance with the regulations under 40CFR 79. As per the EPA, gasoline used in the U.S. must contain detergent additives that are certified as per the norms of Subpart G of 40 CFR 80. This agency has listed the registered diesel and gasoline additives at Registered Fuels & Fuel Additives Under 40 CFR Part 79. Similarly, the Canadian Environmental Protection Act (CEPA) Environmental Registry mandates the usage of non-lead fuel additive content in Canada.
Enforcement of such stringent government regulations regarding the usage of fuel additives in several countries to reduce emissions is expected to drive the fuel additives market at a CAGR of 4.9% during the forecast period (2021–2030). The market was valued at $5,032.7 million in 2020, and it is projected to generate $7,990.6 million revenue by 2030. Additionally, the burgeoning demand for fuel additives can also be attributed to the large-scale consumption of this product in cold countries to prevent the fuel from freezing.
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The application segment of the fuel additives market is categorized into gasoline, diesel, marine fuel, aviation fuel, and others. Under this segment, the diesel category generated the highest revenue in 2020, and it is also expected to demonstrate healthy growth in the forecast years. This can be majorly attributed to the high public preference for diesel vehicles over gasoline variants. Moreover, the large-scale usage of diesel in generators and as marine fuel also contributes to the growth of this category.
Currently, fuel additive producers are entering into partnerships and introducing new products to offer several fuel additives for gasoline and diesel to their customers. For instance, in July 2020, Clariant International Ltd. entered into a partnership with Ineratec GmbH to produce and commercialize renewable chemicals and fuels. Clariant provides the catalyst to convert carbon dioxide to valuable fuels, additives, and chemicals. Through this partnership, Clariant International Ltd. gets an opportunity to produce and market environment-friendly products.
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According to P&S Intelligence, the Asia-Pacific (APAC) region accounted for the largest share in the fuel additives market in 2020, and it will continue this trend throughout the forecast period. This can be primarily owed to the growing petrochemical industry in the region. In the APAC market, China generates the highest revenue, due to the continuous research and development (R&D) activities being conducted for the creation of advanced products and the presence of a flourishing automobile sector in the country.
Therefore, the increasing government focus on reducing emission levels will facilitate the consumption of fuel additives globally.
Market Size Breakdown by Segments
Based on Type
- Deposit Control
- Cetane Improver
- Cold Flow Improver
- Icing Inhibitor
- Lubricity Additive
Based on Application
- Aviation Fuel
- Marine Fuel
Based on End Use
- North America
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
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