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Additives in automotive manufacturing are essential ingredients that are added to fuels, lubricants and vehicle parts to bolster performance and efficiency. For instance, additives are added to plastic parts to improve characteristics such as shock and breakage resistance. In addition, additives to fuel enhance the efficiency and power produced in fuel fuels to boost vehicle performance, reduce emissions, and cut down on the carbon footprint. Additives also find roles in materials such as automotive coolants, transmission oil and more.
Stringent Regulations and Performance Demands Increase Use
Around the world, government bodies are setting up increasingly strict regulations regarding vehicular emissions, and this is one of the key factors behind the growth of the automotive additive industry, which is expected to continue well into the future. In addition, the recent development of numerous alternative fuels such as biodiesel and ethanol are also increasing the scope of application for automotive additives.
Further, automotive manufacturers are increasingly seeking to reduce the weight of various components in a vehicle, without compromising on material strength, designing capabilities, and crashworthiness. Consequently, additives for metals and plastics have gained traction in recent years.
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Stabilizer Additives continue to be Key to Growth of Industry
Automotive additives can be broadly classified into fuel, oil, and plastic additives and these can be further divided into antioxidants, plasticizers, stabilizers, anti-abrasion agents, anti-gel additives, octane boosters, and corrosion inhibitors.
These additives play specialized roles in the development of various automotive materials and parts such as electronics, interiors, operational components and exterior materials. Environmental factors such as extended exposure to sunlight, and the related adverse effects on the vehicles are also contributing substantially to the growth of the automotive additive industry. This is especially true of light and heat stabilizer additives, which are expected to gain substantially in terms of demand in the following years.
Growing Popularity of Electric Vehicles are Expected to Impact Growth
One of the major factors influencing the growth of the automotive additive industry is the rise of the environmental regulations. Consequently, the increasing penetration of battery operated electric vehicles are also impacting the growth of the overall industry, owing to the reduced use of fuel additives.
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On the other hand, stabilizers and plasticizers are likely to witness increased demand. In most cases, the cost of additives does not result in a substantial increase in the prices of fuels or auto components which aids in widespread production, processing, and adoption of these materials, especially for passenger cars which dominate the overall automotive industry.
While the automotive industry is making a gradual transition towards electric vehicles, gasoline direct injection systems have become one of the most prominent additions to modern automobiles, and is expected to sustain the demand for fuel additives for the near future.
In addition, the interest in environment protection has also bolstered the production and use of biop-based automotive additives, which reduce carbon footprint and the impact on the environment on the whole, accounting for a major market share in the years ahead.
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