Aftermarket Fuel Additives Market Size (2021-2031)
The Aftermarket Fuel Additives Market is expected to register a CAGR of 4% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The aftermarket fuel additives market report is segmented by product (octane booster, corrosion inhibitor, antioxidants, and others). The market is segmented based on application (gasoline, diesel, and others). The market is segmented based on end-use industry (automotive, industrial, and others). The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities. The report also covers industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the market.
Purpose of the ReportThe report Aftermarket Fuel Additives Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Aftermarket Fuel Additives Market Segmentation
Product- Octane Booster
- Corrosion Inhibitor
- Antioxidants
- Gasoline
- Diesel
- Automotive
- Industrial
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Aftermarket Fuel Additives Market Growth Drivers- Fuel Efficiency Driving Growth in the Aftermarket Fuel Additives Market: In the aviation industry, the growing focus on fuel efficiency and engine performance has been a main driving factor for the actors in the aftermarket fuel additives market. This is attributed to the rise in fuel prices and the growing concern for better fuel economy. In other words, individuals and businesses are looking for better means to optimize their fuel use by reducing consumption. Aftermarket fuel additives, which include and are not limited to fuel system cleaners, octane boosters, and diesel additives, work to increase combustion efficiency, lower fuel usage, and optimize engine performance. The increasing concerns regarding the need for better fuel economy in personal cars and commercial vehicle fleets are, in turn, creating a market for these additives.
- Stricter Environmental Regulations Increasing Demand for Fuel Additives: Stricter environmental regulations are being enacted across the globe in a bid to lessen vehicular emissions and enhance the state of the atmosphere. These laws expect both automakers and car owners to minimize pollution and optimize fuel use. Fuel system efficiency can be enhanced with fuel additives that enable clean burning of the fuels thus EPA-compliant vehicles. It is also important to note that Emissions standards will be met using additives such as fuel detergents, which are useful in suppressing carbon build-up and ensuring efficient fuel dispersal. The regulation definitional landscape is evolving more rapidly compared to the allowable limits of combustive emissions from aircraft engines, increasing the need for aftermarket fuel additives for the standards.
- Growing Demand for Additives Driven by Aging Vehicle Fleets: As the global fleet of vehicles grows, the demand for restraining and enhancing retro-fitting products is also going up especially for the warm vehicular population. With quite a number of vehicles being sold, vehicle owners and fleet operators are looking for affordable methods of improving the engine's useful life, enhancing burn efficiency, and cutting down expenses on servicing. Engine fuel additives are vital in such engines during their service as they help in cleaning the fuel injectors, help in better combustion, and less the wearing of the engine internals. The pattern trend of aging vehicle fleets, especially in most developing countries, is another major factor contributing to the growth of the demand for aftermarket fuel additives.
- Eco-Friendly and Bio-Based Fuel Economy Additives Gaining Popularity: With the purpose of meeting the Emerging Market demand, fuel economy additives tend to be more eco-friendly or bio-fuel based. Most of the conventional fuel economy additives used in the market are harmful in the context of environmental protection. In such a case, the development of products that can effectively satisfy the need for sustainable solutions was undertaken. The additives that are made from terrestrial plants and other raw natural sources are also becoming more accepted since they render the same performance advantages but have a lower effect on the environment. It is evident that the use of environmentally friendly additives will be the future of the market.
- Electric and Hybrid Vehicles Opening New Opportunities for Additive Manufacturers: The growth of electric and hybrid vehicles comes with a drawback for the conventional fuel additives market; however, it also opens doors for additive manufacturers to think outside the box and make products that are suitable for hybrid engines. This is because hybrid vehicles need some tune-ups on how their hybrid engine systems depend on internal combustion engines and electric motors/generators, fueling further performance. Demand for such progressed systems performance add-ons is expected to increase due to hybrid system development. Reduction of emissions and better fuel burn efficiency will also contribute to the fuel additives market growth. With continued growth in electric and hybrid vehicle sales, the needs of the aftermarket fuel additives market will have to change.
- Advancements in Fuel Additive Formulations to Meet New Engine Technologies: The evolution of advanced fuel additive formulations is propelled by the enhancement of technological capabilities. Next-generation additives have been designed to meet the demands of the new engine systems such as high-pressure fuel injectors and turbocharged as well as hybrid engines. There will be an increasing trend in the market for the development of multiple-purpose additives, which help to stabilize the fuel, improve lubrication, slow down rusting, and clean the fuel system. These formulations are aimed at the changing engine technology performance requirements thus their increasing usage in the aftermarket fuel additives market.
- High Growth Potential for Aftermarket Fuel Additives in Emerging Markets: Aftermarket fuel additives market is witnessing a high growth rate in relatively new regions like Asia-Pacific, Latin America, and Africa. In these regions, factors such as rising disposable incomes, an increase in ownership of vehicles, and a rise in awareness regarding vehicle maintenance are fostering the demand for fuel additives. The growth in vehicle population in these regions presents a major opportunity for manufacturers to explore regions in such countries and introduce regional fuel additives that are specifically designed for these aircraft and their respective engines. This provides a considerable market growth prospect for the aftermarket fuel additives industry at a global level.
- Fleet Management Services Driving Demand for Fuel Additives: The increasing utilization of fleet management services in the logistics as well as transportation industries offers a scope for the growth of the aftermarket fuel additives market. There has been an increased use of fuel additives by fleet operators for better performance and efficiency of their fleets. Fuel additives help serve the purposes of improving fuel efficiency, lowering operating costs, and maximizing the performance of vehicles. With the growth of the logistics and transport sector globally, especially in regions such as North America and Europe, fleet operators will always look for ways to cut costs, including the use of fuel additives, hence the reason for the opportunity for suppliers of fuel additives.
- Opportunities for Fuel Additive Manufacturers to Collaborate with OEMs: There exists an opportunity here for some manufacturers of fuel additives to strategize on the use of additives in the vehicle context and promote its use in the aftermarket by collaborating with OEMs. OEMs have increasingly started to appreciate the idea of promoting the fuel additives use on their vehicles due to performance and environmental compliance standards. Fuel additive companies have an added advantage since the acceptance of their product by the OEMs, most of the time, leads to the recommended fuel additives being used in the vehicle for the specific fuel added. A final point is that OEMs can help with informing consumers about fuel additives, which can also lead to growth in the market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Aftermarket Fuel Additives Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Aftermarket Fuel Additives Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Based on geography, Asia Pacific held the largest share of the aftermarket fuel additives market due to the strong growth of the automotive industry in the region.
Shift toward eco-friendly and bio-based additives is expected to be the key market trends.
Based on end-use industry, the automotive segment is expected to witness the fastest growth during the forecast period.
Afton Chemical, The Lubrizol Corporation, BASF SE, Chevron Corporation, Innospec, Evonik, LANXESS, TotalEnergies, CLARIANT, and Cargill Incorporated are the key players operating in the aftermarket fuel additives market.
Rising demand for fuel efficiency and engine performance is driving the market growth.
The Aftermarket Fuel Additives Market is estimated to witness a CAGR of 4% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Aftermarket Fuel Additives Market - By Product
1.3.2 Aftermarket Fuel Additives Market - By Fuel Type
1.3.3 Aftermarket Fuel Additives Market - By End-Use-Industry
1.3.4 Aftermarket Fuel Additives Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AFTERMARKET FUEL ADDITIVES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. AFTERMARKET FUEL ADDITIVES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. AFTERMARKET FUEL ADDITIVES MARKET - GLOBAL MARKET ANALYSIS
6.1. AFTER - GLOBAL MARKET OVERVIEW
6.2. AFTER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. AFTERMARKET FUEL ADDITIVES MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. OCTANE BOOSTER
7.3.1. Overview
7.3.2. Octane Booster Market Forecast and Analysis
7.4. CETANE IMPROVER
7.4.1. Overview
7.4.2. Cetane Improver Market Forecast and Analysis
7.5. CORROSION INHIBITOR
7.5.1. Overview
7.5.2. Corrosion Inhibitor Market Forecast and Analysis
7.6. ANTIOXIDANTS
7.6.1. Overview
7.6.2. Antioxidants Market Forecast and Analysis
7.7. DEPOSIT CONTROL
7.7.1. Overview
7.7.2. Deposit Control Market Forecast and Analysis
7.8. COLD FLOW IMPROVER
7.8.1. Overview
7.8.2. Cold Flow Improver Market Forecast and Analysis
7.9. OTHERS
7.9.1. Overview
7.9.2. Others Market Forecast and Analysis
8. AFTERMARKET FUEL ADDITIVES MARKET - REVENUE AND FORECASTS TO 2028 - FUEL TYPE
8.1. OVERVIEW
8.2. FUEL TYPE MARKET FORECASTS AND ANALYSIS
8.3. GASOLINE
8.3.1. Overview
8.3.2. Gasoline Market Forecast and Analysis
8.4. DIESEL
8.4.1. Overview
8.4.2. Diesel Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. AFTERMARKET FUEL ADDITIVES MARKET - REVENUE AND FORECASTS TO 2028 - END-USE-INDUSTRY
9.1. OVERVIEW
9.2. END-USE-INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. AUTOMOTIVE
9.3.1. Overview
9.3.2. Automotive Market Forecast and Analysis
9.4. OIL AND GAS
9.4.1. Overview
9.4.2. Oil and Gas Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. AFTERMARKET FUEL ADDITIVES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Aftermarket Fuel Additives Market Overview
10.1.2 North America Aftermarket Fuel Additives Market Forecasts and Analysis
10.1.3 North America Aftermarket Fuel Additives Market Forecasts and Analysis - By Product
10.1.4 North America Aftermarket Fuel Additives Market Forecasts and Analysis - By Fuel Type
10.1.5 North America Aftermarket Fuel Additives Market Forecasts and Analysis - By End-Use-Industry
10.1.6 North America Aftermarket Fuel Additives Market Forecasts and Analysis - By Countries
10.1.6.1 United States Aftermarket Fuel Additives Market
10.1.6.1.1 United States Aftermarket Fuel Additives Market by Product
10.1.6.1.2 United States Aftermarket Fuel Additives Market by Fuel Type
10.1.6.1.3 United States Aftermarket Fuel Additives Market by End-Use-Industry
10.1.6.2 Canada Aftermarket Fuel Additives Market
10.1.6.2.1 Canada Aftermarket Fuel Additives Market by Product
10.1.6.2.2 Canada Aftermarket Fuel Additives Market by Fuel Type
10.1.6.2.3 Canada Aftermarket Fuel Additives Market by End-Use-Industry
10.1.6.3 Mexico Aftermarket Fuel Additives Market
10.1.6.3.1 Mexico Aftermarket Fuel Additives Market by Product
10.1.6.3.2 Mexico Aftermarket Fuel Additives Market by Fuel Type
10.1.6.3.3 Mexico Aftermarket Fuel Additives Market by End-Use-Industry
10.2. EUROPE
10.2.1 Europe Aftermarket Fuel Additives Market Overview
10.2.2 Europe Aftermarket Fuel Additives Market Forecasts and Analysis
10.2.3 Europe Aftermarket Fuel Additives Market Forecasts and Analysis - By Product
10.2.4 Europe Aftermarket Fuel Additives Market Forecasts and Analysis - By Fuel Type
10.2.5 Europe Aftermarket Fuel Additives Market Forecasts and Analysis - By End-Use-Industry
10.2.6 Europe Aftermarket Fuel Additives Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Aftermarket Fuel Additives Market
10.2.6.1.1 Germany Aftermarket Fuel Additives Market by Product
10.2.6.1.2 Germany Aftermarket Fuel Additives Market by Fuel Type
10.2.6.1.3 Germany Aftermarket Fuel Additives Market by End-Use-Industry
10.2.6.2 France Aftermarket Fuel Additives Market
10.2.6.2.1 France Aftermarket Fuel Additives Market by Product
10.2.6.2.2 France Aftermarket Fuel Additives Market by Fuel Type
10.2.6.2.3 France Aftermarket Fuel Additives Market by End-Use-Industry
10.2.6.3 Italy Aftermarket Fuel Additives Market
10.2.6.3.1 Italy Aftermarket Fuel Additives Market by Product
10.2.6.3.2 Italy Aftermarket Fuel Additives Market by Fuel Type
10.2.6.3.3 Italy Aftermarket Fuel Additives Market by End-Use-Industry
10.2.6.4 United Kingdom Aftermarket Fuel Additives Market
10.2.6.4.1 United Kingdom Aftermarket Fuel Additives Market by Product
10.2.6.4.2 United Kingdom Aftermarket Fuel Additives Market by Fuel Type
10.2.6.4.3 United Kingdom Aftermarket Fuel Additives Market by End-Use-Industry
10.2.6.5 Russia Aftermarket Fuel Additives Market
10.2.6.5.1 Russia Aftermarket Fuel Additives Market by Product
10.2.6.5.2 Russia Aftermarket Fuel Additives Market by Fuel Type
10.2.6.5.3 Russia Aftermarket Fuel Additives Market by End-Use-Industry
10.2.6.6 Rest of Europe Aftermarket Fuel Additives Market
10.2.6.6.1 Rest of Europe Aftermarket Fuel Additives Market by Product
10.2.6.6.2 Rest of Europe Aftermarket Fuel Additives Market by Fuel Type
10.2.6.6.3 Rest of Europe Aftermarket Fuel Additives Market by End-Use-Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Aftermarket Fuel Additives Market Overview
10.3.2 Asia-Pacific Aftermarket Fuel Additives Market Forecasts and Analysis
10.3.3 Asia-Pacific Aftermarket Fuel Additives Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Aftermarket Fuel Additives Market Forecasts and Analysis - By Fuel Type
10.3.5 Asia-Pacific Aftermarket Fuel Additives Market Forecasts and Analysis - By End-Use-Industry
10.3.6 Asia-Pacific Aftermarket Fuel Additives Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Aftermarket Fuel Additives Market
10.3.6.1.1 Australia Aftermarket Fuel Additives Market by Product
10.3.6.1.2 Australia Aftermarket Fuel Additives Market by Fuel Type
10.3.6.1.3 Australia Aftermarket Fuel Additives Market by End-Use-Industry
10.3.6.2 China Aftermarket Fuel Additives Market
10.3.6.2.1 China Aftermarket Fuel Additives Market by Product
10.3.6.2.2 China Aftermarket Fuel Additives Market by Fuel Type
10.3.6.2.3 China Aftermarket Fuel Additives Market by End-Use-Industry
10.3.6.3 India Aftermarket Fuel Additives Market
10.3.6.3.1 India Aftermarket Fuel Additives Market by Product
10.3.6.3.2 India Aftermarket Fuel Additives Market by Fuel Type
10.3.6.3.3 India Aftermarket Fuel Additives Market by End-Use-Industry
10.3.6.4 Japan Aftermarket Fuel Additives Market
10.3.6.4.1 Japan Aftermarket Fuel Additives Market by Product
10.3.6.4.2 Japan Aftermarket Fuel Additives Market by Fuel Type
10.3.6.4.3 Japan Aftermarket Fuel Additives Market by End-Use-Industry
10.3.6.5 South Korea Aftermarket Fuel Additives Market
10.3.6.5.1 South Korea Aftermarket Fuel Additives Market by Product
10.3.6.5.2 South Korea Aftermarket Fuel Additives Market by Fuel Type
10.3.6.5.3 South Korea Aftermarket Fuel Additives Market by End-Use-Industry
10.3.6.6 Rest of Asia-Pacific Aftermarket Fuel Additives Market
10.3.6.6.1 Rest of Asia-Pacific Aftermarket Fuel Additives Market by Product
10.3.6.6.2 Rest of Asia-Pacific Aftermarket Fuel Additives Market by Fuel Type
10.3.6.6.3 Rest of Asia-Pacific Aftermarket Fuel Additives Market by End-Use-Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Aftermarket Fuel Additives Market Overview
10.4.2 Middle East and Africa Aftermarket Fuel Additives Market Forecasts and Analysis
10.4.3 Middle East and Africa Aftermarket Fuel Additives Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Aftermarket Fuel Additives Market Forecasts and Analysis - By Fuel Type
10.4.5 Middle East and Africa Aftermarket Fuel Additives Market Forecasts and Analysis - By End-Use-Industry
10.4.6 Middle East and Africa Aftermarket Fuel Additives Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Aftermarket Fuel Additives Market
10.4.6.1.1 South Africa Aftermarket Fuel Additives Market by Product
10.4.6.1.2 South Africa Aftermarket Fuel Additives Market by Fuel Type
10.4.6.1.3 South Africa Aftermarket Fuel Additives Market by End-Use-Industry
10.4.6.2 Saudi Arabia Aftermarket Fuel Additives Market
10.4.6.2.1 Saudi Arabia Aftermarket Fuel Additives Market by Product
10.4.6.2.2 Saudi Arabia Aftermarket Fuel Additives Market by Fuel Type
10.4.6.2.3 Saudi Arabia Aftermarket Fuel Additives Market by End-Use-Industry
10.4.6.3 U.A.E Aftermarket Fuel Additives Market
10.4.6.3.1 U.A.E Aftermarket Fuel Additives Market by Product
10.4.6.3.2 U.A.E Aftermarket Fuel Additives Market by Fuel Type
10.4.6.3.3 U.A.E Aftermarket Fuel Additives Market by End-Use-Industry
10.4.6.4 Rest of Middle East and Africa Aftermarket Fuel Additives Market
10.4.6.4.1 Rest of Middle East and Africa Aftermarket Fuel Additives Market by Product
10.4.6.4.2 Rest of Middle East and Africa Aftermarket Fuel Additives Market by Fuel Type
10.4.6.4.3 Rest of Middle East and Africa Aftermarket Fuel Additives Market by End-Use-Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Aftermarket Fuel Additives Market Overview
10.5.2 South and Central America Aftermarket Fuel Additives Market Forecasts and Analysis
10.5.3 South and Central America Aftermarket Fuel Additives Market Forecasts and Analysis - By Product
10.5.4 South and Central America Aftermarket Fuel Additives Market Forecasts and Analysis - By Fuel Type
10.5.5 South and Central America Aftermarket Fuel Additives Market Forecasts and Analysis - By End-Use-Industry
10.5.6 South and Central America Aftermarket Fuel Additives Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Aftermarket Fuel Additives Market
10.5.6.1.1 Brazil Aftermarket Fuel Additives Market by Product
10.5.6.1.2 Brazil Aftermarket Fuel Additives Market by Fuel Type
10.5.6.1.3 Brazil Aftermarket Fuel Additives Market by End-Use-Industry
10.5.6.2 Argentina Aftermarket Fuel Additives Market
10.5.6.2.1 Argentina Aftermarket Fuel Additives Market by Product
10.5.6.2.2 Argentina Aftermarket Fuel Additives Market by Fuel Type
10.5.6.2.3 Argentina Aftermarket Fuel Additives Market by End-Use-Industry
10.5.6.3 Rest of South and Central America Aftermarket Fuel Additives Market
10.5.6.3.1 Rest of South and Central America Aftermarket Fuel Additives Market by Product
10.5.6.3.2 Rest of South and Central America Aftermarket Fuel Additives Market by Fuel Type
10.5.6.3.3 Rest of South and Central America Aftermarket Fuel Additives Market by End-Use-Industry
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. AFTERMARKET FUEL ADDITIVES MARKET, KEY COMPANY PROFILES
12.1. FAFTON CHEMICAL CORPORATION
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. ASHLAND INC.
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. BASF SE
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. BG PRODUCTS, INC.
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. CHEVRON CORPORATION
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. EVONIK INDUSTRIES AG
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. INNOSPEC SPECIALTY CHEMICALS
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. LUBRIZOL CORPORATION
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. LUCAS OIL PRODUCTS INC.
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. TOTAL S.A.
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. FAfton Chemical Corporation
2. Ashland Inc.
3. BASF SE
4. BG Products, Inc.
5. Chevron Corporation
6. Evonik Industries AG
7. Innospec Specialty Chemicals
8. Lubrizol Corporation
9. Lucas Oil Products Inc.
10. Total S.A.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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