Fuel Additives Market by Type, Application, and Geography - Forecast and Analysis 2020-2024

The fuel additives market and it is poised to grow by $ 4.08 bn during 2020-2024, progressing at a CAGR of almost 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Afton Group, BASF SE, Chevron Corp., Clariant International Ltd., Cummins Inc., DuPont de Nemours Inc., Ecolab Inc., Evonik Industries AG, LyondellBasell Industries NV, and The Lubrizol Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Rising demand for ULSD has been instrumental in driving the growth of the market. However, the rising need for renewable clean fuel might hamper the market growth.

Fuel Additives Market 2020-2024: Segmentation

Fuel Additives Market is segmented as below:

• Type
• Deposit Control Additives
• Cetane Improvers
• Antioxidants
• Cold Flow Improvers
• Others
• Application
• Diesel Fuel Additives
• Gasoline Fuel Additives
• Aviation Fuel Additives
• Others
• Geography
• APAC
• Europe
• North America
• MEA
• South America

Fuel Additives Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The fuel additives market report covers the following areas:

• Fuel Additives Market Size
• Fuel Additives Market Trends
• Fuel Additives Market Industry Analysis

This study identifies the growing demand for fuel from end-user industries as one of the prime reasons driving the fuel additives market growth during the next few years.