22 October 2019 - The Global Oil and
Gasoline Additive Market is
expected to display higher growth rate over the next five years. Rapid surge in
the oil and gasoline additive market is credited to growing demand for deposit
control, antioxidants, and anti-corrosion additives. Oil & gasoline
additives are capable of performing detergent action, which significantly
enhances engine performance and efficiency. In addition, oil & gasoline
additive is responsible for cleaning and lubricating the carburetor and
injectors, which cases fuel to burn more efficiently, thus providing higher
power and less fuel consumption.
Globally,
market is predicted to generate massive revenue over next five years, providing
numerous opportunities for market players to invest for research and
development in the oil and gasoline additive market. Increasing use of
anti-oxidants in gasoline products leads to reduction in carbon emission, thus
limiting harmful effects. Higher approval rate from local as well as
international authorities such as Environmental Protection Agency (EPA),
European Standards Organization (CEN) regulations and other, is expected to
drive market demand for oil & gasoline additive over the next seven years.
Growing demand from diesel motor vehicles and non-road, locomotive and marine
diesel equipment engines due to compliance with the federal low sulfur content
requirements is anticipated to drive the growth of oil and gasoline additive
market over the forecast period.
Oil
& gasoline additives are gaining traction among various end-use vertical
owing to its capability to enhance the service life of equipment. Oil &
gasoline additives forms a protective layer on the surface the service
equipment, thereby increasing life span of the equipment. Application of the
oil & gasoline additives include water treatment, power generation, refining,
construction and mining sector. Increasing need for high-end systems to handle
high viscosity fluids and rising funding by regional governments in public
infrastructure development activities are anticipated to drive the growth of
oil & gasoline additive in the upcoming years.
The
market is broadly categorized into four major segments based on the end-use
application type such as lubrication, contamination control, seal conditioning
and viscosity modifiers. The lubrication segment is growing rapidly in the
market with substantial revenue generation in the last few years.
The
market is divided by region as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the rise in the implementation of latest technologies in manufacturing
sector, higher approval rate by regional government authorities, surge in
number of research & development activities and existence of
well-established industrial infrastructure in the region.
Asia-Pacific
region is estimated to hold major share in the oil and gasoline additive
industry with massive growth in forecast period. Countries such as India, China
and Singapore are leading the Asia-Pacific market with strong economic growth,
favorable laws & regulation regarding use of fuel additive, rising
disposable income, increasing manufacturing activities, and significant
investment by leading industry players considering potential growth
opportunities in the region.
The
key players in the oil and gasoline additive market are Innospec Inc., Chemtura
Corp., Infineum International Ltd., Lubrizol Co., BASF SE, Lucas Oil Products,
Inc., Bardahl Corp., The Freedonia Group, Inc., and Baker Hughes.
Market Segment:
The reports help answer the following
questions:
•
What is the current size of the oil and gasoline additive market in the world
and in the top 10 global countries?
•
How is the oil and gasoline additive market divided into different product
segments?
•
How are the overall market and different product segments growing?
•
How is the market predicted to develop in the future?
•
What is the market potential compared to other countries?
The latest industry data included in the
reports:
•
Overall oil and gasoline additive market size, 2011-2022
•
Oil and gasoline additive market size by product segment, 2011-2022
•
Growth rates of the overall oil and gasoline additive market and different
product segments, 2011-2022
•
Shares of different product segments of the overall oil and gasoline additive
market, 2011, 2017 and 2022
The market data is given for the
following product segments:
•
Anti-knock preparations based on lead compounds
•
Other anti-knock preparations
•
Petroleum and bitumen oil lubricating oil additives
•
Other lubricating oil additives
•
Other oil and gasoline additives
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