The global fuel additives market is estimated to be at 1.86 million tons by the end of this year and is projected to reach 2.29 million tons in the next five years, registering a CAGR of over 4.27% during the forecast period.
The COVID-19 pandemic negatively impacted the market. This was because of the shutdown of manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, tin 2021, thus rebounding the demand for the market studied.
The fuel additives market is fragmented in nature. The major players (not in any particular order) include Afton Chemicals, The Lubrizol Corporation, Innospec, Chevron Corporation, and BASF SE, among others.
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