Fuel additives are basically external chemical agents mixed with diesel, gasoline, aviation fuel, and other fuels such as marine oil and fuel oil to increase the fuel performance. The commonly used additives are deposit control additives such as detergents, carrier fluids, antifoam, and dehazers, cetane improvers, antioxidants, dyes & markers, lubricity improvers, cold flow improvers, stability improvers, corrosion inhibitors, octane improvers, and anti-icing.
The global market revenue from fuel additives business is estimated at $4.5 billion with volume demand 1,119 thousand tons in 2011. Deposit control additives capture the maximum market share followed by cetane improvers, lubricity improvers, cold flow improvers, and antioxidants. North America is the largest market at present. In next five years, the North America fuel additive market will slip to second position left behind by Asia-Pacific market. From 2012 to 2017, Asia-Pacific will grow at highest growth rate mainly driven by increasing fuel demand from developing economies such as India and China.
Majority of fuel additives are consumed for diesel fuel. Diesel fuel additive market has been driven by the increasing ULSD demand which requires even more dosing. Although gasoline demand has been more or less stagnant and the requirement of fuel additives is less, yet the fuel additives market is driven by the use of unleaded gasoline which requires relatively higher dosing.
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