The global fuel additives market size is projected to reach USD 12,117.8 million by 2028, exhibiting a CAGR of 5.8% during the forecast period. Fortune Business Insights™ shares this information in its report, titled “Fuel Additives Market, 2021-2028”. As per the report, the value of the market stood at USD 7,701.0 million in 2020.

Fuel additives help vehicles perform better, reduce carbon emissions, and increase fuel efficiency. Governments across the world are implementing emission norms for the automotive industry to reduce the carbon footprint from vehicles. For instance, the government of India has introduced a new Bharat Stage (BS) 6 norm for all the carmakers operating in the country. Such norms are projected to propel the adoption of these additives.

Market Segmentation

The market is categorized on the basis of type, application, and geography. In terms of type, the market is divided into deposit control, cetane improvers, lubricity improvers, cold flow improvers, stability improvers, octane improvers, and corrosion inhibitors. Based on application, it is fragmented into gasoline, diesel, and aviation fuel. On the basis of geography, it is segmented into North America, Europe, South America, Asia Pacific, and the Middle East & Africa.

What Does the Report Offer?

The report provides tangible insights into the current & upcoming market trends and highlights prominent industry developments. Apart from this, it contains a detailed analysis of the key market aspects, namely, the dominant companies, end-users, and leading product types. In addition to these factors, the report supplies a holistic understanding of the main drivers, restraints, and segments that are contributing to the growth of the market.

Source:

https://www.fortunebusinessinsights.com/fuel-additives-market-10291