Fuel additives are used to lower the level of emissions, control engine deposits, improve the octane and cetane numbers, and enhance the flow of the fuel. Some of the additives are also used as corrosion inhibitors, decrease the friction between the walls of the engine and fuel molecules, and prevent the freezing of the fuel in cold countries. Owing to the advantageous features of such chemicals, they are being increasingly added to gasoline, diesel, marine fuels, and aviation fuels.
Essentially, the burgeoning need for cleaner fuels, owing to the rising enforcement of stringent environmental laws to reduce the concentration of greenhouse gases (GHGs), will help the fuel additives market progress at a CAGR of 4.9% during 2021–2030. The market revenue stood at $5,032.7 million in 2020, and it is projected to reach $7,990.6 million by 2030. For instance, the United Nations Environmental Protection Agency (EPA) mandates the registration of all diesel- and gasoline-powered motor vehicle fuel additives, under the 40CFR 79 regulations.
The aforementioned manufacturers are also focusing on introducing new fuel additives for diesel and gasoline. For instance, in April 2020, Champion Lubricants introduced Diesel Flo with Cetane and Power Plus with Cetane diesel fuel additives to curtail the fuel treatment cost and reduce the solvent load. Additionally, a large number of manufacturers are engaging in the production of antifreeze products to cater to customers living in cold countries, as these additives are ideal for controlling the operating temperature in hot-running and high-revving powersports applications