Automotive
aftermarket fuel additives are chemicals added to vehicle fuels such as
gasoline, diesel etc, at sub-optimally low concentration levels during or after
the refining process to help improve fuel efficiency and performance. Fuel
additives are used as corrosion inhibitors, stabilizers, detergents, cetane and
octane improvers etc. They help remove deposit formation within the engine,
keep it clean and provide complete fuel combustion.

The global
automotive aftermarket fuel additives market is estimated to be valued at US$ 2.27 Mn  in 2024 and is expected to exhibit a CAGR of 9.0% over the forecast period
2024 to 2031, as highlighted in a new report published by Coherent Market
Insights.



The global automotive aftermarket fuel additives market is estimated to be
valued at US$ 2.27 Bn or Mn in 2024 and is expected to exhibit a CAGR of 9.0% over the forecast period
2024 to 2031, as highlighted in a new report published by Coherent Market
Insights.



Market Dynamics:

Need for fuel economy is a major driver for the automotive aftermarket fuel
additives market over the forecast period. Fuel additives help improve fuel
economy by keeping the engine clean of deposits which provides complete fuel
combustion and optimized performance. They also act as detergents and
dispersants to flush away sludge residues within the engine. Further, stringent
emission regulations globally have pushed the demand for high performing fuel
additives which can help reduce emissions from engines. The combination of
improving fuel economy and meeting emission standards is expected to boost
market value for automotive aftermarket fuel additives during the forecast
period from 2024 to 2031.



SWOT Analysis

Strength: The automotive aftermarket fuel additives market has strong potential
due to increasing vehicle fleet across regions. Fuel additives help improve
engine performance and fuel efficiency. They also reduce harmful emission and
lower the overall maintenance costs of vehicles.



Weakness: Rising raw material costs due to fluctuating crude oil prices pose
challenges for manufacturers. Lack of awareness among consumers regarding
benefits of additives can limit market growth.



Opportunity: Stringent emission norms implemented by governments worldwide
offer opportunities for fuel additive manufacturers. Increasing adoption of
flex-fuel vehicles provides scope to enhance fuel properties. Growing
popularity of EVs also creates prospects in lubricant additives.



Threats: Shift toward electric mobility poses threat to combustion
engine-related businesses. Advent of alternative clean fuels can negatively
impact demand. Intense competition from unorganized local players affects
margins of established brands.



Key Takeaways

Global
Automotive Aftermarket Fuel Additives Market Size is expected to
witness high growth.

The Asia
Pacific region currently dominates fueled by high vehicle sales in China,
India, and Japan. Growing fleet and increasing miles driven annually will
propel regional growth over the forecast period.



Key players operating in the automotive aftermarket fuel additives market are
Hyosung Corporation, Afton Chemical Corporation, The Lubrizol Corporation,
Chevron Oronite Company LLC, TotalEnergies, Innospec, Evonik, Dorf Ketal, and
Cummins Filtration. These companies are focusing on new product launches catering
to various vehicle types and fuel grades.

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