“Bottled fuel additives are aftermarket products which are added by the end-user directly to fuel of a motor vehicle to modify the performance or other characteristics of the fuel, the engine, or its emissions. The bottled fuel additives market has been segmented by type of additives, application and geography exclusively. Based on the types of additives commercially available, the market is categorized in to detergents, cetane improvers, corrosion inhibitors, antioxidants, metal deactivators, demulsifiers, flow improvers, octane improvers, and others. Each type varies greatly and the composition is different with different technical specifications. The key user segments include diesel, gasoline, biofuels, industrial fuels, marine fuels, aviation fuels.
Owing to their significant applications in diverse end user industries, bottled fuel additives market is set to grow at a considerable pace in the coming years. The main factor owing to the growth of this industry is constant demand from dedicated end user applications in diesel, gasoline, biofuels, industrial, marine fuels and aviation. For the year 2014, Europe region is the major shareholder with 40% share in the global bottled fuel additives market, due to the presence of major fuel additives manufacturers and varied end user sectors.
The market has been segmented in to four regions North America, Europe, Asia-pacific and Rest of the World. European region accounted for 40% of the total bottled fuel additives market in 2014, thus maintaining its dominance over the market. By 2020, Asia-Pacific (APAC) is estimated to witness the fastest growth rate due to the demand from automobile sector. Environmental regulations and global automotive production will affect the growth rate of bottled fuel additives market in the coming years. Overall, the bottled fuel additives market will witness considerable demand mainly from APAC region.
Competitive landscape for industry and market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The key players profiled in this report include BASF SE, Clariant AG, Innospec Inc., Chevron, The Lubrizol Corporation and others. Lubrizol and BASF SE are the two key market players in the market, where Lubrizol itself accounts for43% of the market, followed by BASF with 20% in 2014.
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