Automotive Additives Market-Increasing Adoption of Alternate Fuel Sources Such as Ethanol and Biodiesel

Automotive Additives Market: Overview

Additives are substances that are added to a material in order to enhance its properties. Additives are used in vehicles for various purposes. Plastic additives are used to increase resistance and shock absorbing property of plastics that are used to manufacture automotive component. While, fuel additives are compounds that are utilized to enhance the efficiency of fuels used in vehicles in order to achieve the target of reduced vehicular emissions and improved carbon footprint. Fuel automotive additives are primarily added along with the engine oil, while other additives along with transmission oil, and coolant in order to improve their respective performance.

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Automotive Additives Market: Drivers and Restraints

Growing stringent norms and regulations regarding improved fuel-efficiency, which are being laid down by several regulatory bodies in different nations, is expected to further propel the automotive additives market in the near future. Increasing adoption of alternate fuel sources such as ethanol and biodiesel in recent years is anticipated to provide promising applications for the usage of automotive additives in the next few years. Rising demand for improved strength, enhanced crashworthiness, and increased durability of vehicles is propelling the usage of plastic additives in plastic components of vehicles. Increasing focus of key vehicle manufacturers on metal to plastic replacement in recent years is expected to further boost the automotive additives market during the forecast period.

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Pragati Pathrotkar

As one of the lead news writers on cmfenews, Pragati’s specialization lies in the science and technology domains. Her passion for the latest developments in cloud technology, connected devices, nanotechnology, and virtual reality, among others, shines through in the most recent industry coverage he provides. Pragati’s take on the impact of digital technologies across the science, technology, and business domains gives her writing a fresh and modern outlook.

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