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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