An automotive additive is a chemical matter which when added to fuel or oil in a small quantity improves the quality of the fuel or the oil. The automotive additive can be a fuel additive or an oil additive. Fuel additives increase the octane rating of the fuel. Fuel additives can also act as lubricants and can also help in preventing corrosion, thus increasing the efficiency of the automobile. Thus, fuel additives decrease the problems related to stumbling or weak acceleration. Oil additives are compounds that help in increasing the efficiency of base oil. Nearly all the commercially available Motor oils contain additives. These oil additives are highly essential for proper lubrication of the motor. Automotive additives can be in the form of liquid or powder.
The Automotive Additives Market is expected to grow at a moderate CAGR during the forecast period.
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Automotive Additives Market: Drivers & Restraints
The demand for fuel efficiency is increasing gradually. This can be achieved by adding automotive additives to the fuel. Also, now people prefer high segment cars instead of low segment cars. Hence, the demand for automotive additives is also increasing due to the requirement of lightweight materials in an automobile, to achieve fuel efficiency. According to Corporate Average Fuel Economy (CAFE) regulations, emissions need to be decreased, and lightweight materials are to be used in vehicles. This factor is also expected to drive the growth of Automotive Additives Market in the forecast period.Due to growing concern about comfort, durability, quality, safety and color, demand is increasing in the interior application of the Automotive Additives Market. With the increase in the electrification of the cars, Automotive Additives Market is expected to growth at a fast pace.
Volatility in prices of additives, the high price of the oil and fuel automotive additives and the engine downsizing trend going on in the automobile industries, are the factors that are expected to affect the growth of Automotive Additives Market.
By Plastic
- Polypropylene (PP)
- Polyurethane (PUR)
- Poly-Vinyl Chloride (PVC)
- Acrylonitrile Butadiene Styrene (ABS)
By Plastic Additives
- Plasticizers
- Anti-Scratch
- Stabilizers
- Antioxidants
- Others
By Vehicle Type
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Electric Vehicle
By Automotive Application
- Exterior
- Interior
- Under the Hood
- Electronics & Electrical
On the basis of end use, FTIR gas analysers market segmented into:
- Automotive
- Chemical
- Agriculture
- Oil and Gas
- Research and Development
- Others
By Region
- North America
- Europe
- Asia-Pacific
- RoW
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
Automotive Additives Market: Key Players
Some of the major players in the Automotive Additives Market are:-
- Akzo Nobel N.V. (Netherlands)
- BASF SE (Germany)
- Clariant
- Covestro AG (Germany)
- The Dow Chemical Company (U.S.)
- Evonik Industries
- ExxonMobil Corporation (U.S.)
- Kaneka Corporation
- Lanxess
- PolyOne Corporation
- Sabic (Saudi Arabia)
- Solvay
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