Global fuel additives and lubricants market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of fuel additives and lubricants market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Global fuel additives market is expected to rise from its initial estimated value of USD 6.75 billion in 2018 to an estimated value of USD 11.13 billion by 2026, registering a CAGR of 6.45% in the forecast period of 2019-2026. Whereas, global lubricants market is expected to rise from its initial estimated value of USD 126.10 billion in 2018 to an estimated value of USD 160.36 billion by 2026, registering a CAGR of 3.05% in the forecast period of 2019-2026.
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Fuel additives are the chemical compounds being used for the enhancement of performance, and improved levels of efficiency of the vehicles. While, lubricants can be described as the chemical compounds that are used for improvements in functioning and performance of the vehicle and resulting in less friction between the motor parts and ultimately resulting in reduction of heat generated. They act as inhibitors against the corrosion of the parts of the engine and enhance the life of the vehicle
Market Drivers:
- Increased growth of the automotive industry and the subsequent rise in demand of fuel additives and lubricants is expected to drive the market growth
- Rise in demand for cleaner and higher performance of fuel and lubricants is also expected to drive the market growth
Market Restraints:
- Growing concerns regarding the depletion of fossil fuels have given rise to demand of alternate fuels which is expected to restrain the market growth
- Requirement of large capital investments for the research & development initiatives and any advancements in technology is also expected to restrain the market growth
Segmentation: Global Fuel Additives and Lubricants Market
By Fuel Additives Type
- Deposit Control Additives
- Cetane Improvers
- Antioxidants
- Dyes & Markers
- Lubricity Improvers
- Cold Flow Improvers
- Stability Improvers
- Corrosion Improvers
- Octane Improvers
- Anti-Icing Fuel Additives
- Others
By Lubricant Group
- Group I
- Group II
- Group III
- Group IV
- Group V
By Lubricant Base Stock
- Bio-Based Lubricants
- Mineral Oil Lubricants
- Synthetic Lubricants
- Semi-Synthetic Lubricants
By Lubricant Type
- Engine Oil
- Light Motor Vehicle Engine Oil
- Heavy-Duty Motor Vehicle Engine Oil
- Transmission & Hydraulic Fluids
- Industrial Hydraulic Fluids
- Automatic Transmission Fluids
- Metalworking Fluids
- General Industrial Oils
- Turbine Oil
- Compressor & Refrigeration Oil
- Electrical Oil
- Gear Oil
- Transportation Gear Oils
- Industrial Gear Oils
- Greases
- Industrial
- Transportation
- Process Oils
- White Oil
- Rubber Oil
- Others
- Others
By Fuel Additives Application
- Diesel Fuel Additives
- Aviation Fuel Additives
- Gasoline Fuel Additives
By Lubricants End-User
- Power Generation
- Automotive & Other Transportation
- Heavy Equipment
- Food & Beverage
- Metallurgy & Metal Working
- Chemical Manufacturing
- Others
By Fuel Additives End-User
- Industrial
- Automotive
- Marine
- Aerospace
By Geography
• North America
• South America
• Europe
• Asia-Pacific
• Middle East & Africa
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Key Developments in the Market:
In May 2017, Total and CLAAS KGaA mbH announced the extension of their existing partnership, which states that along with the supply of after-sale lubricants by Total, the renewed agreement now also includes the distribution of “First-Fill” lubricants along with the original agreement.
In May 2017, Exxon Mobil Corporation and SABIC announced an agreement for the research of Gulf Coast Growth Ventures program to be conducted in Texas, which would involve the initiation of a planned petrochemical complex at the location.
Key Market Competitors:
Few of the major competitors currently working in the fuel additives and lubricants market are –
- Chevron Corporation,
- Exxon Mobil Corporation,
- The Lubrizol Corporation,
- Afton Chemical,
- Fuel Performance Solutions,
- Evonik Industries AG,
- BASF SE,
- LANXESS,
- Total,
- Innospec,
- Dorfketal Chemicals (I) Pvt. Ltd.,
- Infineum International Limited,
- Cummins Inc.,
- Cerion LLC,
- AMSOIL INC,
- Blaser Swisslube,
- DINOIL ITALIA,
- OILSD,
- ERC Emissions-Reduzierungs-Concepte GmbH,
- Fuel Theft Solutions Ltd,
- XSNANO LTD.,
- TECHNOBIO,
- Forward,
- NCH Corporation
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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