Market Highlights
Automotive aftermarket fuel additives refer to the sector of the automotive industry that deals with the sale of fuel additives and treatments designed for use in vehicles after they have been sold and are in regular use. These additives are typically used to improve fuel efficiency, and engine performance, and reduce emissions. Fuel additives come in various forms, including liquid additives that are poured into the fuel tank or added during fueling.
Automotive production declined in 2018 as well as in 2019 and was expected to start rebounding from 2020 onwards. However, the sudden outburst of the pandemic trashed the market hope. As a result of that, there was an enormous decline in the production of automobiles across regions. The grave impact of this was registered across the supply chain including the level of components.
Automotive aftermarket fuel additives, a sizeable market, could not escape from such trends and witnessed a colossal decline amid the pandemic, quite aligned with the decline in automobile production. However, the industry is gradually rebounding in the year 2021 with the ramp-up in consumer confidence. Furthermore, government regulations, engine maintenance, and a growing vehicle fleet are likely to give impetus to the demand for aftermarket fuel additives. Overall, the automotive aftermarket fuel additives market is likely to rebound at a promising CAGR of 8.2% in the long run.
Market Segment Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Application-Type Analysis
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Gasoline and Diesel
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Gasoline is anticipated to remain the bigger demand generator for the automotive aftermarket fuel additives market in the years to come.
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Distribution Channel-Type Analysis
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Big Stores, 4S Stores, Unauthorized Centers, Gas Stations, and Others
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4S Stores is anticipated to remain the pioneer in the automotive aftermarket fuel additives market in the years to come.
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Regional Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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North America is expected to remain the largest market over the next five years, whereas Asia-Pacific is likely to grow at the fastest rate.
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Based on the application type, the automotive aftermarket fuel additives market is segmented into gasoline and diesel. Gasoline is expected to remain the largest and fastest-growing application in the market during the forecast period owing to the widespread use of gasoline engines, fuel efficiency improvement, emissions reduction, fuel stabilization, and consumer awareness.
Based on the Distribution Channel type, the market is segmented into big stores, 4S stores, unauthorized centers, gas stations, and others. 4S stores are expected to remain the dominant as well as the fastest-growing segment in the market during the forecast period. 4S stores are authorized dealerships that provide vehicle sales, service, spare parts, and customer support. They often offer genuine or recommended products and services. 4S stores are a trusted source for vehicle-related products, including fuel additives. They can dominate the market for consumers seeking professional advice and genuine products.
In terms of regions, North America, including the United States and Canada, had a prominent presence in the Automotive Aftermarket Fuel Additives Market. The factors contributing to North America’s dominance include high vehicle ownership, consumer awareness, stringent emission regulations, fuel efficiency concerns, and a strong economy.
Asia-Pacific is likely to create sizeable opportunities in the coming five years, driven by an expected rebound in vehicle production, rapid economic growth, and technological advancements.
Key Players
The following are the key players in the automotive aftermarket fuel additives market:
- Chevron Corporation
- BASF SE
- Afton Chemical Corporation
- Infineum International Limited
- The Lubrizol Corporation
- TotalEnergies Additives & Special Fuels
- Innospec Inc.
- Clariant AG
- Cerion Energy
- BG Products, Inc.
- Lucas Oil Products, Inc.
- Red Line Synthetic Oil Corporation
- Liqui Moly GmbH
- Royal Purple, LLC
- STP Products Company
Research Methodology
This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s automotive aftermarket fuel additives market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for existing and new players
- Key success factors
The automotive aftermarket fuel additives market is segmented into the following categories.
Automotive Aftermarket Fuel Additives Market, by Application Type
- Gasoline (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Diesel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Automotive Aftermarket Fuel Additives Market, by Distribution Channel Type
- Big Stores (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- 4S Stores (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Unauthorized Centers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Gas Stations (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Automotive Aftermarket Fuel Additives Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
