“Stringent emission regulations worldwide drives the automotive aftermarket fuel additives market”
The global market of the automotive aftermarket fuel additives is estimated to reach USD 1,387.0 million by 2021 at a CAGR of 7.15%. Governments all over the world are pressing harder for stringent environmental regulations. The U.S. Environmental Protection Agency (EPA) has been regularly modifying and enforcing several norms for vehicular emissions and also for improving the efficiency and prevalent quality of the fuels used. For example, the Clean Air Act (CAA) of the U.S. is an exhaustive federal law which regulates air emissions from mobile and stationary sources. This law also authorizes the EPA to establish National Ambient Air Quality Standards (NAAQS) to protect public welfare and health and also to regulate emissions of hazardous air pollutants. Also, the European Union (EU) framework has emission regulations for van trucks, coaches, buses and cars. For light duty vehicles (cars and vans), the current standard is Euro 6 while that for heavy vehicles, it is Euro VI.
Whereas, high R&D costs involved in terms of man hours, technology and materials hampers market growth. Moreover, the introduction of Alternative Fuel Vehicles (AFVs) such as electric cars prove a restraint for this market.
“Cetane improvers: The fastest growing segment in the automotive aftermarket fuel additives market”
The cetane improver is the fastest growing segment of the global automotive aftermarket fuel additives market. The high growth is attributed to its use to improve the cetane count of the fuel. The increase in cetane number, especially in cold regions, shortens the ignition delay period for the fuel. It is always better therefore that fuel has a relatively high cetane count.
“Diesel fuel additives to experience maximum growth”
The fuel additives market has been driven by diesel fuel additives and will continue to do so in the future. This is due to the robust growth of demand for diesel fuel additives from regions such as the Asia-Pacific and Europe. Diesel fuel additives are the most used fuel additives due to the increased demand for Ultra Low Sulphur Diesel (ULSD), which requires heavy dosages of additives.
“4S stores, big stores and e-commerce are the preferred distribution mode for this market”
In North America and Europe, big stores and 4S stores are the major supply channels for this market. Whereas in the Asia-Pacific region, 4S stores and gas stations are the most preferred supply channels. E-commerce is expected to exhibit high growth as compared to other distribution channels, due to high internet penetration among consumers.
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below.
- By Company Type - Tier 1 - 20%, Tier 2 – 32%, and Others - 48%
- By Designation - C level - 18%, Director level - 27%, and Others - 55%
- By Region - North America - 35%, Europe - 30%, Asia-Pacific - 20%, the Middle East & Africa - 10%, and South America - 5%
The key companies profiled in this market research report are Afton Chemical Corporation (U.S.), Chevron Oronite Company LLC. (U.S.), Total S.A. (France), BASF SE (Germany), Lucas Oil Products, Inc. (U.S.), Ashland Inc. (U.S.), BG Products, Inc. (U.S.), Lubrizol Corporation (U.S.), and Infineum International Ltd. (U.K.).
Reasons To buy this report:
This research report is focused on various levels of analyses?industry trends), market share analysis of key players, supply chain analysis, and company profiles, which together comprise and discuss the overall views on the competitive landscape; emerging and high-growth segments of the global automotive aftermarket fuel additives market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on top manufacturers of automotive aftermarket fuel additives
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the automotive aftermarket fuel additives market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the market for automotive aftermarket fuel additives
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global automotive aftermarket fuel additives market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the automotive aftermarket fuel additives market.
This report covers the automotive aftermarket fuel additives market, in terms of value, and forecasts its market size till 2021. The study segments the market on the basis of the distribution channel, application, supply mode and region. It also provides company profiles and the competitive strategies adopted by key players in the automotive aftermarket fuel additives market. The report offers detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market.