Global Automotive Aftermarket Fuel Additives Market Outlook 2020-2030

Global Automotive Aftermarket Fuel Additives Market Analysis 2020-2030

The global automotive aftermarket fuel additives market is anticipated to grow with a CAGR of 6.0% over the forecast period, i.e., 2021 - 2030. Factors such as the rise in focus of the government of nation around the globe to lower vehicular pollution, followed by the rise in demand for fuel additives to improve fuel efficiency and engine performance of vehicles, are expected to contribute to the market growth. Moreover, factors such as the growing sales of automobiles around the world and the need for fuel additives, is also expected to contribute to the market growth in the coming years. The global automotive aftermarket fuel additives market is estimated to garner a revenue of close to USD 2250 Million by the end of 2030, up from a revenue of around USD 1250 Million in the year 2020.

The global automotive aftermarket fuel additives market is segmented into numerous segments, which include segmentation by type, application, distribution channel, and by region. By type, the market is segmented into deposit control, cetane improvers, lubricants, antioxidants, anticorrosion, cold flow improvers, antiknock agents, and others. By the end of 2030, the deposit control segment, amongst all the other segments, is anticipated to garner the largest revenue of about USD 560 Million. Additionally, the segment registered a revenue of more than USD 260 Million in the year 2020.

By region, the global automotive aftermarket fuel additives market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America, amongst all the other markets in the region, is projected to display the largest revenue of around USD 770 Million by the end of 2030. Moreover, in the year 2020, the market in the region registered a revenue of close to USD 420 Million.

Some of the prominent industry leaders in the global automotive aftermarket fuel additives market that are included in our report are TotalEnergies Company, Ashland Global Holdings Inc., BASF SE, The Lurizol Corporation, Afton Chemical, Evonik Industries AG, Chevron Corporation, Lucas Oil Products, Inc., Innospec, BG Products, Inc., Infineum International Ltd., and others.