The global demand for Automotive Additives Market is presumed to reach the market size of nearly USD 22.08 BN by 2030 from USD 11.91 BN in 2022 with a CAGR of 8.02% under the study period 2023 - 2030.
An automobile additive is a chemical substance that, when added in small amounts to fuel or oil, improves the quality of the fuel or oil. Automotive additives are available either in liquid or powder form. The automobile additive might be either fuel or an oil additive. Fuel additives raise the octane rating of gasoline. Fuel additives can also act as lubricants and aid in corrosion prevention, boosting the efficiency of the vehicle. As a result, gasoline additives reduce the problems associated with stumbling or slow acceleration. Oil additives are chemicals that improve the efficiency of basic oil. Almost all commercially available motor oils include additives. These oil additives are critical for proper motor lubrication.
Market Dynamics
The requirement for fuel efficiency is gradually increasing. This is accomplished by incorporating automotive additives into the fuel. In addition, individuals now prefer high-end vehicles to low-end vehicles. As a result of the need for lightweight materials in automobiles to enhance fuel-efficiency, the demand for automotive additives is rising. According to Corporate Average Fuel Economy (CAFE) rules, emissions must be reduced, and lightweight materials must be utilized in automobiles according to Corporate Average Fuel Economy (CAFE) rules. This factor is also likely to boost the automotive additives market's growth. The interior application of the automotive additives market is expanding in demand due to rising concerns about comfort, durability, quality, safety, and colour. The automotive additives market is predicted to grow at a rapid rate as the electrification of automobiles increases. The high price of oil and fuel automotive additives and the engine downsizing trend in the vehicle industry is projected to hinder the growth of the automotive additives market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of automotive additives. The growth and trends of automotive additives industry provide a holistic approach to this study.
Market Segmentation
This section of the automotive additives market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Plastic Additives
- Plasticizers
- Anti-Scratch
- Stabilizers
- Antioxidants
- Others
By Automotive Application
- Exterior
- Interior
- Under The Hood
- Electronics & Electrical
By Plastic
- Polypropylene (PP)
- Polyurethane (PUR)
- Poly-Vinyl Chloride (PVC)
- Acrylonitrile Butadiene Styrene (ABC)
By Vehicle Type
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Electric Vehicle
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Automotive Additives market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Automotive Additives Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the automotive additives market include BASF SE (Germany), ExxonMobil Corporation (U.S.), Covestro AG (Germany), The Dow Chemical Company (U.S.), Sabic (Saudi Arabia), and Akzo Nobel N.V. (Netherlands). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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