The automotive additives are that substances
which added to a material in order to improve the features. The additives are
effectively utilized in the vehicles for numerous determinations. Whereas, the
automotive additives can be an oil additive or a fuel additive while the fuel additives
are utilized to decrease the problems related to the stumbling or weak
acceleration. Moreover, generally the fuel automotive additives are auxiliary
along with the engine oil, while other additive along with the transmission
oil, and coolant in order to develop their respective functions. Furthermore,
many of the players in this market are playing an important role while
developing the advantages of automotive additives which further increase the
demand and efficiency of such in the respective industries. This also proved to
be profitable for dominating the highest market share in the global automotive
additive market during the forecasted period more positively.
According to the report analysis, ‘Global
Automotive Additives Market Size Study, by Plastic Additives (Plasticizers,
Anti-Scratch, Stabilizers, Antioxidants), by Application (Exterior, Interior,
Under the Hood), by Plastic (PP, PUR, PVC, and ABS), by Vehicle Type, and
Regional (North America, Europe, Asia Pacific, Latin America, and Rest of the
World) Forecasts, 2017-2025 (USD Billion/Million)’ states that there
are several key players which are presently functioning in this sector more
actively for leading the fastest market growth and registering the high value
of market share around the globe throughout the forecasted period while
improving the specifications of the technology which increase the efficiency of
the additives and increase the utilization at a reasonable price which further
develop the market demand includes AkzoNobel N.V., Covestro AG, The Dow
Chemical Company, BASF SE, Sabic, Lanxess, Solvay SA, Clariant AG, Evonik
Industries and several others. Moreover, many of the focused players in this
market are developing the techniques of producing the additives with the
innovative technologies for generating the high value of revenue and profit
throughout the forecasted period.
The Global Automotive Additives Market
industry respected approximately USD 5.92 billion in 2016 is predicted to
increase with a healthy growth rate of more than 6.88% over the forecast period
of 2017-2025. Moreover, the global market of automotive additives is segmented
into different sectors which majorly includes plastic additives, application,
plastic, vehicle type and regions. Whereas, based on the plastic additives, the
market is further segmented into plasticizers, anti-scratch, stabilizers and
antioxidants while, on the plastics, the market is sectored into exterior,
interior and under the hood. Not only has this, the sector of plastics includes
polypropylene, polyurethane, poly-vinyl chloride and acrylonitrile butadiene
styrene for instance, the segment of vehicle type involves passenger car, light
commercial vehicle, heavy commercial vehicle and electric vehicle.
Additionally, the factors like the increasing
requirements for the lightweight vehicles and electrification of vehicles in
most of the underdeveloped countries are promoting the sales of vehicles
because of which, it exerts the growth of automotive additive market growth.
Other aspects affecting the growth include improvements in the fuel and energy
efficiency. Therefore, in the near future, it is anticipated that the market of
automotive additive will increase around the globe more positively over the
recent few years.
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