United States Fuel Additives Market is Expected to Witness Impressive Growth Rate In the Forecast Years
Increasing demand for cost effective fuel additives to improve overall
performance and reduce emissions is majorly driving the growth of the United
States Fuel Additives Market in the forecast period, 2024-2028.
According to TechSci
Research report, “United States Fuel Additives Market – By Region, Competition, Forecast and Opportunities, 2028F,” the United States Fuel Additives Market is project to grow during the
forecast period owing to increasing demand for cost effective fuel additives. A fuel additive is a liquid substance that is
mixed with a vehicle's fuel supply, either through the fuel filler cap or any
other part of the fuel system. Fuel additives are chemical compounds added to
gasoline, diesel, or other fuels to enhance specific characteristics of a
vehicle. They help prevent issues like rough idling, weak acceleration,
stumbling, and stalling. The market for fuel additives can be categorized into
three main segments: refinery products, distribution system products, and
automotive performance enhancement additives. Refinery additives encompass
various types, such as antioxidant additives, stability improvement additives,
octane/cetane enhancement additives, cold flow improvement additives, and metal
deactivation additives. Distribution system products include corrosion
inhibitors, pipeline drag reducing additives, and anti-static additives.
Automotive performance enhancement products consist of deposit control
additives, lubricity additives, friction modifiers, demulsifiers/dehazers, and
anti-valve seat recession additives, among others. The United States Fuel Additives Market is
poised for significant growth in the coming years due to emission regulations
implemented by the US government to meet the Sustainable Development Goals. As
the demand for fuel increases across various industries, the fuel additives
market is expected to witness substantial growth.
In recent
years, several companies have invested in collaboration and the development of
new formulations and enhancements to expand the fuel additives industry. In
July 2022, Afton Chemical, a leading petroleum additives company, completed a
USD70 million investment in an additive production facility at their Sauget,
Illinois plant. In April 2022, Afton Chemical announced the launch of their
latest diesel fuel detergent technology, "Greenclean 3," in North
America in 2022.
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The United States Fuel
Additives Market can be categorized based on application, fuel type, region and
competitive landscape. In terms of application, the market is segmented into
refinery products, distribution system products, and automotive performance
enhancement products. The automotive performance enhancement products segment
is leading the United States Fuel Additives Market due to a significant focus
on improving vehicle performance. Furthermore, the market is divided into
Diesel, Gasoline, and Others based on fuel type. The market analysis also
includes a regional segmentation, categorizing the market into West, Northeast,
Mid-West, and South Regions.
Some of the major companies operating in the United States Fuel
Additives Market include:
- Afton
Chemical Corporation
- The Lubrizol
Corporation
- Innospec Inc.
- BASF SE
- Cummins Inc.
- Chevron
Oronite SA
- Infineum
International Limited
- Chemtura
Corporation
- LyondellBasell
Industries NV
- Archer
Daniels Midland Company
- SI Group,
Inc.
These are the key players
developing advanced technologies and launching new products to stay competitive
in the market. Other competitive strategies include new product developments,
and marketing activities to increase customer outreach.
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“The shifting landscape
driven by stringent environmental regulations and the pursuit of cleaner energy
solutions. With a growing emphasis on reducing emissions and improving fuel
efficiency, innovative fuel additives are seen as a critical component in
achieving these goals. Experts anticipate continued growth in this market as
both consumers and industries seek sustainable solutions to address environmental
challenges and enhance energy efficiency.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“United States Fuel Additives Market By Application
(Refinery Products, Distribution System Products, Automotive Performance
Enhancement Products), By Fuel Type (Diesel, Gasoline, Others), By Region,
Competition Forecast & Opportunities, 2018- 2028F,” has evaluated the future
growth potential of the United States Fuel Additives Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the United States Fuel
Additives Market.
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