The fuel additives market share in APAC will post an incremental growth of USD 870.28 million, progressing at a CAGR of 5.64% during the forecast period. The rising demand for ULSD will offer immense growth opportunities to market vendors. The fuel additives market in APAC is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Fuel Additives Market in APAC by Application and Geography - Forecast and Analysis 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The fuel additives market in APAC is segmented by application (diesel fuel additives, gasoline fuel additives, aviation fuel additives, and others) and geography (China, Japan, India, Australia, and Rest of APAC).
The growth of the fuel additives market size in APAC by the diesel fuel additives segment will be significant during the forecast period. The emergence of a manufacturing hub will facilitate the fuel additives market growth in China. 45% of the market's growth will originate from China during the forecast period. China is the key market for fuel additives market in APAC.
The rising demand for ULSD will directly influence the sales of fuel additives in APAC. In addition, the new developments in fuel additives are the major fuel additives market trends in APAC which will positively impact the market growth. However, factors such as the growing demand for electric vehicles in the automotive industry will hamper the fuel additives market in APAC growth.
The market is fragmented due to the presence of several players. Some of the major fuel additives market vendors in APAC are Afton Group, Baker Hughes Co., BASF SE, Chevron Corp., Clariant International Ltd., Croda International Plc, Dorf Ketal Chemicals (I) Pvt. Ltd., Exxon Mobil Corp., Innospec Inc., and The Lubrizol Corp.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the fuel additives market in APAC forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the fuel additives market share in APAC.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the fuel additives market in APAC.
Fuel additives industry growth across APAC.
