Global Automotive Additives Market is valued at USD 8.49 Billion in 2021 and expected to reach USD 12.03 Billion by 2028 with a CAGR of 5.10% over the forecast period.
Additives are materials that are added to a substance in order to improve its properties. Additives are employed in vehicles for different purposes. Plastic additives are employed to elevate shock absorbing property and resistance of plastics that are employed to create the automotive elements. While fuel additives are elements that are used to improve the efficiency of fuels employed in vehicles so as to attain the target of improved carbon footprint and lowered vehicular emissions. Fuel automotive additives are majorly added together with the engine oil, while other additives together with transmission oil, and coolant so as to enhance their respective performance.
The global automotive additives market can be divided by application, type, electric vehicle, vehicle, and region. By type, the automotive additives market can be divided into plastic additives, oil additives, and fuel additives. The oil additives can be petroleum-based or synthetic. Oil additives have different applications. The plastic additives section is further sub-divided into the anti-scratch agents, plasticizers, antioxidants, and stabilizers. The fuel additives section is further sub-divided into Octane boosters, fuel stabilizers, fuel injector cleaners, corrosion inhibitors, anti-gel diesel additives, CETANE improvers, and others. The plastic additives section is predicted to see remarkable development during the coming period due to the rising efforts for metal to plastic conversion by main OEMs for increasing the durability of vehicle components and for vehicle downsizing.
By application, the automotive additives market can be segmented into the exterior, interior, electric & electronics, and under the hood. Exposure to sunlight, particularly at high temperatures is predicted to result in discoloration of plastic components and loss of mechanical properties. Consistent exposure of exterior vehicle elements such as rocker panels, bumpers, tailgates, fenders, windshield, and glazing & lighting to high temperatures and the sunlight is powering the employment of stabilizers such as heat stabilizers and light stabilizers in order to protect these exterior elements of the vehicle.
Automotive Additives Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Automotive Additives Market place for the forecast 2022– 2028
Rising stringent regulations and norms about enhanced fuel efficiency are being laid down by different regulatory bodies in different countries and are predicted to power the automotive additives market in the coming future.
The major players included in the global automotive additives market forecast are
Rising stringent regulations and norms about enhanced fuel-efficiency are being laid down by different regulatory bodies in different countries and are predicted to power the automotive additives market in the coming future. Rising acceptance of alternative fuel sources such as biodiesel and ethanol in recent times is predicted to offer promising applications for the employment of automotive additives in the coming few years. Increasing requirement for enhanced crashworthiness, enhanced strength, and increased durability of vehicles is powering the employment of plastic additives in vehicles’ plastic components. Rising aim of major vehicle manufacturers on metal to plastic replacement in recent times is predicted to power the automotive additives market during the coming period.
In the coming period, Asia Pacific is predicted to develop and turn out to be the biggest market for automotive additives. The reason behind this is that the Asia Pacific is the center for the making of electric automobiles and passenger cars. The quickest developing section in the automotive additives market is predicted to be polypropylene plastic.
Middle East and Africa
|2016 - 2021
|2022 - 2029
|Market Size in 2021:
|USD 8.49 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 12.03 Billion
|Tables, Charts & Figures:
|automotive additives companies
|Exxon Mobil Corporation, BASF SE, The Dow Chemical Company, Covestro AG, Akzo Nobel N.V., SABIC, EVONIK, Afton Chemical, The Lubrizol Corporation.
|By Plastic Type, By Plastic Additives Type, By Vehicle Type, By Automotive Application
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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