Performance Additives Market: Overview
Performance additives are the various chemicals that are added to the modern-day automotive gasoline and other propelling fuels to stabilize and elevate their octane level, decrease the propensity of pre-ignition, and allow for more power to be made from increased compression and/or advanced ignition timing. Methylcyclopentadienyl manganese tricarbonyl (MMT), toluene, and variants of trimethylbenzene are the additives used to boost the octane number of the fuel. Performance additives boost efficiency, temperatures, and pressures of the engine along with the reduction of friction between moving parts. Performance additives are based on chemicals such as mica, talc, and wollastonite, diatomite or perlite. They are essential for usage in a wide range of applications such as automotive, paint, rubber, paper, hygiene, health, and beauty that require advanced technical specifications. Performance additives can reduce emissions, improve fuel handling, increase fuel economy, lower internal deposits in the exhaust systems due to burnt fuel and protect against corrosion. Performance additive solutions help fuel marketers and fleets to maximize diesel and gasoline quality from the available fuel. They provide a cost-effective method of differentiating products in the market.
Performance Additives Market: Dynamics & Trends
A fuel system has to be lubricated. This is critical to ensure that friction and wear within high-pressure components, such as the fuel pump, is kept at a minimum in order to ensure longevity and efficient operation. Performance additives address a wide range of issues that can have a profound effect on vehicle performance, regardless of whether the vehicle is a light-duty pickup, a Class 8 truck, or an off-road equipment or any system. In some cases, additives are required for an engine to operate smoothly. These additives make the engines more efficient with high power, and produce lower emissions. Fuel injectors are becoming smaller and more intricate. The combination of these sophisticated fuel injectors with combustion by-products and contaminants results in deposit formation that interferes with the optimal operation. Performance additives can help remove the deposits and enhance the performance.
Performance additives offers protective effects such as improving heat, light, and weather resistance to reduce color fading and loss of gloss.
Performance Additives Market: Segmentation
Based on type, the performance additives market can be segmented into plastic additives, paint & coatings additives, pigment additives, and ink additives. In terms of end-use, the market can be segmented into packaging, household goods, automotive, industrial, and construction. Based on region, the global performance additives market can be divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Performance Additives Market: Region-wise Outlook
Globally, the performance additives market is driven by the rising demand for these additives in packaging and household goods industries, as performance additives enhance the processability, performance, and appearance of the final product. Asia Pacific is a rapidly growing region of the performance additives market, led by the growth in investments in packaging and construction industries in the region and increase in demand for these additives in end-use industries such as automotive, packaging, household goods, construction, and industrial in major countries such as China and India.
Performance Additives Market: Key Players
Key players operating in the global performance additives market include BASF SE, AkzoNobel N.V., Solvay S.A., Evonik Industries AG, and Clariant.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.