The global market for high performance refinery additives is projected to worth US$ 2.2 billion in 2023. The market is likely to surpass US$ 3.3 billion by 2033 at a CAGR of 4.2% during the forecast period.
The demand for these additives is driven by their remarkable feature to tune the properties of processing material/fuels to desired levels. These chemicals not only reduce the processing efforts for the petroleum products but also ease their storage and transportation activities.
The growing demand for petroleum fuel from transportation sector is driving the market for high performance refinery additives. Growing number of liquid fuel powered vehicles is resulting in stricter regulations worldwide corresponding to the quality of fuel. The adoption of high performance refinery additives helps the manufacturers to meet these regulations and reduce the environmental impact from these non-renewable energy sources.
Other Drivers Propelling the Demand for High Performance Refinery Additives include:
Challenges for Companies /Manufacturers in the Market:
Opportunities in the Market:
Latest Trends in the Market:
| Attributes | Details |
|---|---|
| High Performance Refinery Additives Market Size (2023) | US$ 2.2 billion |
| High Performance Refinery Additives Market Projected Size (2033) | US$ 3.3 billion |
| Value CAGR (2023 to 2033) | 4.2% |
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From 2018 to 2022, the global market experienced a CAGR of 3.5%, reaching a market size of US$ 2.2 billion in 2023.
The market witnessed a fluctuating demand for refinery additives as it is highly dependent on the production of the crude oil. As the crude oil production was reduced during COVID-19 pandemic, the demand for additives from the refineries was shrank. Although, the market recovered in 2021 and 2022 to have a positive CAGR during historical assessment period.
During the forecast period of 2023 to 2033, the high performance refinery additives market is anticipated to grow at a CAGR of 4.2%. The product’s demand will spur due to their growing usage in downstream petroleum refining.
Among the global passenger vehicles market, more than 80% vehicles sold are powered by the petroleum fuel such as petrol or diesel. The stringent regulations regarding the quality and efficiency of these fuel, the manufacturing companies introduce refinery additives during their processing. As the regulation and need for increased fuel efficiency will increase, the usage and adoption high performance additives will also increase from these industries.
Principal Consultant
| Country | The United States |
|---|---|
| Market Size (US$ billion) by End of Forecast Period (2033) | US$ 0.7 billion |
| CAGR % 2023 to End of Forecast (2033) | 4.5% |
The high performance refinery additives market in the United states is expected to reach USD 0.7 billion by the end of forecast period. The market will expand at a CAGR of 4.5% during this period. The United states has the world’s largest refinery capacity of close to 18 million barrels per day. This makes the country as world’s largest consumer of refinery additive products. As the country is adopting low emission norms and stringent regulations on the petroleum fuel, the demand for refinery additives will grow in the coming years.
| Country | India |
|---|---|
| Market Size (US$ billion) by End of Forecast Period (2033) | US$ 0.3 billion |
| CAGR % 2023 to End of Forecast (2033) | 5.0% |
India is the fastest growing automotive market in the world. About 90% of the passenger vehicles sold in the country are powered by petrol or diesel fuels. To boost the performance of these vehicles, manufacturers are using performance booster additives in refinery products which is driving the market growth. The high performance refinery additives market in India is anticipated to reach US$ 0.3 billion by the end of 2033 expanding at a CAGR of 5.0%.
| Country | China |
|---|---|
| Market Size (US$ billion) by End of Forecast Period (2033) | US$ 0.8 billion |
| CAGR % 2023 to End of Forecast (2033) | 4.7% |
The market in China is expected to reach US$ 0.8 billion by the end of forecast period, growing at a considerable CAGR of 4.7%. The country stands at second position in terms of refinery capacity and anticipated to surpass the U.S. by the end of 2033. Also, the country has the technologically advanced refinery facilities where high performance additives can streamline the refinery operations for low cost petroleum production. The country’s demand for the product is expected to rise with their rising refinery capacity.
| Country | Russia |
|---|---|
| Market Size (US$ million) by End of Forecast Period (2033) | US$ 0.3 billion |
| CAGR % 2023 to End of Forecast (2033) | 4.1% |
The market in Russia is estimated to grow with 4.1% CAGR during 2023 to 2033 to reach US$ 0.3 billion by the end of the forecast period. Russia is one the world’s largest crude oil producing country having huge refinery capacity to process crude oil into useful petroleum fuels. The refinery industry in the country is anticipated to grow as the oil and gas exports accounts for a significant share in their GDP. This growth in refinery industry is expected to cater to the growth of high performance refinery additives market in Russia.
| Country | South Korea |
|---|---|
| Market Size (US$ million) by End of Forecast Period (2033) | US$ 0.2 billion |
| CAGR % 2023 to End of Forecast (2033) | 4.6% |
The high performance refinery additives market in Saudi Arabia is expected to reach US$ 0.2 billion, expanding at a CAGR of 3.6% during forecast period. In 2021, the country has boosted their refinery capacity by 13.7% and is expected to continue to expand refinery business in coming years. This development is expected to propel the demand for refinery additives from the country.
Octane improvers are the additives that are added to fuel during refinery processing to improvise its octane rating in desired limits. This octane rating is linked to the stability of the fuel at different temperatures. For instance, in high-altitude or high-temperature regions, gasoline may have a lower octane rating than what is required by the engines. In such cases, octane improvers are added to the gasoline to increase its octane rating. Some gasoline formulations may have a lower octane rating than what is required by the engines, and octane improvers can be added to improve the octane rating of the gasoline.
The demand for octane improvers is on the rise due to changing global climate conditions and to support transportation at elevated surface regions like mountains.
Crude oil processing segment leads the market of high performance refinery additives as the mainstream of these additives are added during this operation. Crude oil processing is a critical part of the refinery operation where the flow characteristics of the oil are modified. In order to ease the transportation of oil, lubricity improvers, stabilizers, scavengers, corrosion inhibitors, etc. are added to the process.
With the growth in global refinery industry, the demand for these high performance chemicals will increase from crude oil processing operations.
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The high performance refinery additives market is partly consolidated with high competition among the few leading market participants. These players are focused to expand their production capacities and sales footprints to grow their market presence.
Research and development for the new refinery additives which can enhance the fuel performance, and lower environmental impact is a key trend followed by leading manufacturers in the industry. This will cater to the sustainable development along with recycling of products to lower the carbon footprints while production and wastage.
Key Strategies Adopted by the Players
Companies invest hugely in research and development to introduce innovative products that offer enhanced efficiency, reliability, and cost-effectiveness. Product innovation enables companies to differentiate themselves from their competitors and cater to the evolving needs of customers.
Strategic Partnerships and Collaborations
Key players in the industry often form strategic partnerships and collaborations with other companies to leverage their strengths and expand their reach in the market. Such collaborations also allow companies to gain access to new technologies and markets.
The high performance refinery additives industry is witnessing significant growth in emerging markets such as China and India. Key players are expanding their presence in these markets by establishing local manufacturing facilities and strengthening their distribution networks.
For Instance, in August 2022, BASF SE started new plant of fuel performance additives to strengthen their manufacturing footprints in Asia.
Key players in the high performance refinery additives industry often engage in mergers and acquisitions to consolidate their market position, expand their product portfolio, and gain access to new markets.
Key Players in the Market
The United States, India, and China dominate the global market.
The market is forecast to register a CAGR of 4.2% through 2033.
From 2018 to 2022, the market developed at a CAGR of 3.5%.
Technological advancement disrupts the current market trends.
The global market size is likely to be worth US$ 142.2 million by 2033.
1. Executive Summary
1.1. Global Market Outlook
1.2. Market Share Analysis
1.3. Demand Side Trends
1.4. Supply Side Trends
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product Innovation and Diversification
4.3. Marketing and Brand Management
4.4. Supply Chain Management
5. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033
5.1. Historical Market Volume (Tons) Analysis, 2018 to 2022
5.2. Current and Future Market Volume (Tons) Projections, 2023 to 2033
5.3. Y-o-Y Growth Trend Analysis
6. Global Market - Pricing Analysis
6.1. Regional Pricing Analysis By Product Type
6.2. Pricing Analysis by Regions
7. Global Market Demand (in Value or Size in US$ Billion) Analysis 2018 to 2022 and Forecast, 2023 to 2033
7.1. Historical Market Value (US$ Billion) Analysis, 2018 to 2022
7.2. Current and Future Market Value (US$ Billion) Projections, 2023 to 2033
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Background
8.1. Macro-Economic Factors
8.2. Forecast Factors - Relevance and Impact
8.3. Supply-Demand Analysis
8.4. Value Chain
8.5. Production Process Overview
8.6. Market Dynamics
8.7. Impact of COVID – 19 Crisis
9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Billion) and Volume Analysis By Product Type, 2018 to 2022
9.3. Current and Future Market Size (US$ Billion) and Volume Analysis and Forecast By Product Type, 2023 to 2033
9.3.1. Stabilizers
9.3.2. Corrosion Inhibitors
9.3.3. Scavengers
9.3.4. Antioxidants
9.3.5. Antifoulants
9.3.6. Defoamers
9.3.7. Cetane Improvers
9.3.8. Octane Improvers
9.3.9. Lubricity Improvers
9.3.10. Metal Deactivators
9.3.11. Catalyst Regenerator
9.3.12. Others
9.4. Market Attractiveness Analysis By Product Type
10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Billion) and Volume Analysis By Application, 2018 to 2022
10.3. Current and Future Market Size (US$ Billion) and Volume Analysis and Forecast By Application, 2023 to 2033
10.3.1. Crude Oil Processing
10.3.2. Fluid Catalytic Cracking
10.3.3. Hydro processing
10.3.4. Other
10.4. Market Attractiveness Analysis By Application
11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region
11.1. Introduction
11.2. Historical Market Size (US$ Billion) and Volume Analysis By Region, 2018 to 2022
11.3. Current Market Size (US$ Billion) and Volume Analysis and Forecast By Region, 2023 to 2033
11.3.1. North America
11.3.2. Latin America
11.3.3. Western Europe
11.3.4. Eastern Europe
11.3.5. East Asia
11.3.6. South Asia and Pacific
11.3.7. Middle East and Africa
11.4. Market Attractiveness Analysis By Region
12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
12.1. Introduction
12.2. Pricing Analysis
12.3. Historical Market Size (US$ Billion) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
12.4. Market Size (US$ Billion) and Volume Forecast By Market Taxonomy, 2023 to 2033
12.4.1. By Product Type
12.4.2. By Application
12.4.3. By Country
12.4.3.1. U.S.
12.4.3.2. Canada
12.5. Market Attractiveness Analysis
12.5.1. Product Type
12.5.2. By Application
12.5.3. By Country
12.6. Market Trends
12.7. Drivers and Restraints Impact Analysis
13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Size (US$ Billion) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
13.4. Market Size (US$ Billion) and Volume Forecast By Market Taxonomy, 2023 to 2033
13.4.1. By Product Type
13.4.2. By Application
13.4.3. By Country
13.4.3.1. Brazil
13.4.3.2. Mexico
13.4.3.3. Argentina
13.4.3.4. Rest of Latin America
13.5. Market Attractiveness Analysis
13.5.1. By Product Type
13.5.2. By Application
13.5.3. By Country
13.6. Market Trends
13.7. Drivers and Restraints Impact Analysis
14. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Size (US$ Billion) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
14.4. Market Size (US$ Billion) and Volume Forecast By Market Taxonomy, 2023 to 2033
14.4.1. By Product Type
14.4.2. By Application
14.4.3. By Country
14.4.3.1. Germany
14.4.3.2. Italy
14.4.3.3. France
14.4.3.4. U.K.
14.4.3.5. Spain
14.4.3.6. BENELUX
14.4.3.7. NORDICS
14.4.3.8. Rest of Western Europe
14.5. Market Attractiveness Analysis
14.5.1. By Product Type
14.5.2. By Application
14.5.3. By Country
14.6. Market Trends
14.7. Drivers and Restraints Impact Analysis
15. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Size (US$ Billion) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
15.4. Market Size (US$ Billion) and Volume Forecast By Market Taxonomy, 2023 to 2033
15.4.1. By Product Type
15.4.2. By Application
15.4.3. By Country
15.4.3.1. Poland
15.4.3.2. Hungary
15.4.3.3. Romania
15.4.3.4. Czech Republic
15.4.3.5. Rest of Eastern Europe
15.5. Market Attractiveness Analysis
15.5.1. By Product Type
15.5.2. By Application
15.5.3. By Country
15.6. Market Trends
15.7. Drivers and Restraints Impact Analysis
16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Size (US$ Billion) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
16.4. Market Size (US$ Billion) and Volume Forecast By Market Taxonomy, 2023 to 2033
16.4.1. By Product Type
16.4.2. By Application
16.4.3. By Country
16.4.3.1. China
16.4.3.2. Japan
16.4.3.3. South Korea
16.5. Market Attractiveness Analysis
16.5.1. By Product Type
16.5.2. By Application
16.5.3. By Country
16.6. Market Trends
16.7. Drivers and Restraints Impact Analysis
17. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033
17.1. Introduction
17.2. Pricing Analysis
17.3. Historical Market Size (US$ Billion) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
17.4. Market Size (US$ Billion) and Volume Forecast By Market Taxonomy, 2023 to 2033
17.4.1. By Product Type
17.4.2. By Application
17.4.3. By Country
17.4.3.1. India
17.4.3.2. Association of Southeast Asian Nations
17.4.3.3. Australia and New Zealand
17.4.3.4. Rest of South Asia and Pacific
17.5. Market Attractiveness Analysis
17.5.1. By Product Type
17.5.2. By Application
17.5.3. By Country
17.6. Market Trends
17.7. Drivers and Restraints Impact Analysis
18. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033
18.1. Introduction
18.2. Pricing Analysis
18.3. Historical Market Size (US$ Billion) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
18.4. Market Size (US$ Billion) and Volume Forecast By Market Taxonomy, 2023 to 2033
18.4.1. By Product Type
18.4.2. By Application
18.4.3. By Country
18.4.3.1. Gulf Cooperation Council Countries
18.4.3.2. Türkiye
18.4.3.3. Northern Africa
18.4.3.4. South Africa
18.4.3.5. Rest of Middle East and Africa
18.5. Market Attractiveness Analysis
18.5.1. By Product Type
18.5.2. By Application
18.5.3. By Country
18.6. Market Trends
18.7. Drivers and Restraints Impact Analysis
19. Key Countries Market Analysis
19.1. U.S. Market Analysis
19.1.1. By Product Type
19.1.2. By Application
19.2. Canada Market Analysis
19.2.1. By Product Type
19.2.2. By Application
19.3. Mexico Market Analysis
19.3.1. By Product Type
19.3.2. By Application
19.4. Brazil Market Analysis
19.4.1. By Product Type
19.4.2. By Application
19.5. Argentina Market Analysis
19.5.1. By Product Type
19.5.2. By Application
19.6. Germany Market Analysis
19.6.1. By Product Type
19.6.2. By Application
19.7. Italy Market Analysis
19.7.1. By Product Type
19.7.2. By Application
19.8. France Market Analysis
19.8.1. By Product Type
19.8.2. By Application
19.9. U.K. Market Analysis
19.9.1. By Product Type
19.9.2. By Application
19.10. Spain Market Analysis
19.10.1. By Product Type
19.10.2. By Application
19.11. BENELUX Market Analysis
19.11.1. By Product Type
19.11.2. By Application
19.12. China Market Analysis
19.12.1. By Product Type
19.12.2. By Application
19.13. Japan Market Analysis
19.13.1. By Product Type
19.13.2. By Application
19.14. S. Korea Market Analysis
19.14.1. By Product Type
19.14.2. By Application
19.15. India Market Analysis
19.15.1. By Product Type
19.15.2. By Application
19.16. Association of Southeast Asian Nations Market Analysis
19.16.1. By Product Type
19.16.2. By Application
19.17. Gulf Cooperation Council Countries Market Analysis
19.17.1. By Product Type
19.17.2. By Application
19.18. Türkiye Market Analysis
19.18.1. By Product Type
19.18.2. By Application
19.19. South Africa Market Analysis
19.19.1. By Product Type
19.19.2. By Application
20. Market Structure Analysis
20.1. Market Analysis by Tier of Companies
20.2. Market Concentration
20.3. Market Share Analysis of Top Players
20.4. Production Capacity Estimates of Top Players
20.5. Market Presence Analysis
21. Competition Analysis
21.1. Competition Dashboard
21.2. Primary Survey Analysis
21.3. Competition Deep Dive
21.3.1. BASF SE
21.3.1.1. Overview
21.3.1.2. Product Portfolio
21.3.1.3. Key Financials
21.3.1.4. Sales Footprint
21.3.1.5. Strategy Overview
21.3.2. CRISTOL
21.3.2.1. Overview
21.3.2.2. Product Portfolio
21.3.2.3. Key Financials
21.3.2.4. Sales Footprint
21.3.2.5. Strategy Overview
21.3.3. Lubrizol Corporation
21.3.3.1. Overview
21.3.3.2. Product Portfolio
21.3.3.3. Key Financials
21.3.3.4. Sales Footprint
21.3.3.5. Strategy Overview
21.3.4. GE Power & water
21.3.4.1. Overview
21.3.4.2. Product Portfolio
21.3.4.3. Key Financials
21.3.4.4. Sales Footprint
21.3.4.5. Strategy Overview
21.3.5. Alberarle Corporation
21.3.5.1. Overview
21.3.5.2. Product Portfolio
21.3.5.3. Key Financials
21.3.5.4. Sales Footprint
21.3.5.5. Strategy Overview
21.3.6. ExxonMobil Corporation
21.3.6.1. Overview
21.3.6.2. Product Portfolio
21.3.6.3. Key Financials
21.3.6.4. Sales Footprint
21.3.6.5. Strategy Overview
21.3.7. Dorf Ketal Chemicals
21.3.7.1. Overview
21.3.7.2. Product Portfolio
21.3.7.3. Key Financials
21.3.7.4. Sales Footprint
21.3.7.5. Strategy Overview
21.3.8. Afton Chemicals
21.3.8.1. Overview
21.3.8.2. Product Portfolio
21.3.8.3. Key Financials
21.3.8.4. Sales Footprint
21.3.8.5. Strategy Overview
21.3.9. Total Energies
21.3.9.1. Overview
21.3.9.2. Product Portfolio
21.3.9.3. Key Financials
21.3.9.4. Sales Footprint
21.3.9.5. Strategy Overview
21.3.10. Baker Hughes
21.3.10.1. Overview
21.3.10.2. Product Portfolio
21.3.10.3. Key Financials
21.3.10.4. Sales Footprint
21.3.10.5. Strategy Overview
21.3.11. Chevron Corporation
21.3.11.1. Overview
21.3.11.2. Product Portfolio
21.3.11.3. Key Financials
21.3.11.4. Sales Footprint
21.3.11.5. Strategy Overview
21.3.12. Amspec LLC
21.3.12.1. Overview
21.3.12.2. Product Portfolio
21.3.12.3. Key Financials
21.3.12.4. Sales Footprint
21.3.12.5. Strategy Overview
21.3.13. Hidustan Petroleum
21.3.13.1. Overview
21.3.13.2. Product Portfolio
21.3.13.3. Key Financials
21.3.13.4. Sales Footprint
21.3.13.5. Strategy Overview
21.3.14. Bharat Petroleum
21.3.14.1. Overview
21.3.14.2. Product Portfolio
21.3.14.3. Key Financials
21.3.14.4. Sales Footprint
21.3.14.5. Strategy Overview
21.3.15. Evonik Industries
21.3.15.1. Overview
21.3.15.2. Product Portfolio
21.3.15.3. Key Financials
21.3.15.4. Sales Footprint
21.3.15.5. Strategy Overview
21.3.16. Innospec
21.3.16.1. Overview
21.3.16.2. Product Portfolio
21.3.16.3. Key Financials
21.3.16.4. Sales Footprint
21.3.16.5. Strategy Overview
21.3.17. Clariant AG
21.3.17.1. Overview
21.3.17.2. Product Portfolio
21.3.17.3. Key Financials
21.3.17.4. Sales Footprint
21.3.17.5. Strategy Overview
22. Assumptions and Acronyms Used
23. Research Methodology
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High Performance Refinery Additives Market
