The global gasoline antiknock agent market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Antiknock agents are gasoline additives used to reduce engine knocking and increase the fuel’s octane rating. The significant rise in population and urbanization is anticipated to increase the demand for the automobile industry, which in turn will further drive the global gasoline antiknock market. For instance, according to the data published by United Nations Conference on Trade and Development (UNCTAD) in 2020, the world population grew by 1.0% 2020 or 81 million people and is anticipated to reach a global total of 7.8 billion in the forthcoming decades. Further, 84.0% of the population is living in an emerging economy and the urban population is increased to 56.2 % in 2020.
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According to the data published by India Brand Equity Foundation (IBEF) in 2021, the total production of passenger vehicles (three-wheelers, two-wheelers, and quadricycles) has reached 2,214,745 units in October 2021. Moreover, in 2020 India was the fifth largest auto market, with $349 million units sold in the passenger and commercial vehicles categories. In 2021, passenger vehicles production has reached 22,652,108 units in India. Further, the automobile sector received a cumulative FDI inflow of about $30.5 billion between April 2000 and June 2021. Also, the Government of India anticipates the automobile sector to attract $8-10 billion in local and foreign investments by 2023. Thus, the growing demand and rising investment opportunities in the automobile sector are anticipated to increase the production of vehicles which in turn will further drive the growth of the global gasoline antiknock agent market during the forecast period.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Carex Canada , Simagchem and Dongchang Fine Chemical Technology Co.Ltd among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Gasoline Antiknock Agent Market Report by Segment
By Type
- Ethers Antiknock Agent
- Metal Antiknock Agent
By Application
- Commercial Vehicle
- Passenger Vehicle
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