Lubricant Additives Market Overview:
Lubricant Additives Market is expected to grow to USD 17.1 Bn in 2022 growing at the CAGR of 3.2% since 2018 and is expected to continue till 2022. Lubricants is the reduction of friction and wear and in some case reduces relative movement of two bearing surfaces possible only with its presence. At times when saving energy & resources along with cutting emission becomes central environmental matters; lubricants are increasingly attracting public awareness due to their properties.
Lubricant oil comprises of a base stock blended with various additives to enhance performance and maintain the same due to which lubricant additives is used majorly in automotive and various industries specifically heavy-duty motor oil, passenger car motor oil, industrial engine oil and metal working fluids. Various functions of lubricant additives such as enhancement of performance and efficiency, reduction in wear and tear of materials and metals, lower toxicity along with low cost, change in legislative and environment regulations, technology development in marine and automotive industries are some of the drivers of this market.
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Lubricant Additives Market Key Players:
• BASF SE,
• Chemtura Corp.,
• Chevron Oronite,
• Croda International,
• Evonik Industries,
• Infineum International,
• Lubrizol Corp,
• Shamrock Shipping & Trading Limited,
• Tianhe Chemicals,
• Afton Chemical Corporation
Lubricant Additives Market Segmentation:
Lubricant Additives Market is majorly segmented on the basis of by type and by application. Based on type the market is segmented into surface protective additives, performance enhancing additives and lubricants protective additives. On the basis of application, the market is classified into automotive and industrial. Automotive is future sub-segmented into heavy duty motor oil passenger, car motor oil and industrial is sub-segmented into industrial engine oil and metal working.
Lubricant Additives Market Regional Analysis:
Geographically, Asia Pacific emerged as the largest market for lubricant additives followed by North America and Europe in 2018. The Asia Pacific region accounted for largest market share of lubricant additives market in 2018 and is estimated to retain its dominance over the forecast years due to increasing demand from automotive and various industrial sector specifically in China, India, Japan, Vietnam, Thailand, Taiwan, and South Korea. In addition to this, the growth of Lubricant Additives is largely driven by development fuel efficiency norms combined with increasing environmental concerns about carbon emission in developing economies. Moreover, economic growth in this region along with industrialization has enabled greater production and sales of lightweight and heavy duty vehicles. Furthermore, increased investment by key operating players in their R&D activities and shifting of lubricant additives production units as well as significantly increasing end use industries in this region is estimated to drive the lubricant additives regional market growth.
Lubricant Additives Market Table of Content:
1 Executive Summary
2 Scope of the Report
3 Market Research Methodology
5 Industry Overview of Global Lubricant Additives Market
Lubricant Additives Market Table of Content to be Continue……,
Lubricant Additives Market List of Table:
Table 1 World Population: By Major Regions (2015 To 2030) (Million)
Table 2 Global Lubricant Additives Market: By Region, 2014-2022 (USD Million)
Table 3 North America Lubricant Additives Market: By Country, 2014-2022 (USD Million)
Table 4 Europe Lubricant Additives Market: By Country, 2014-2022 (USD Million)
Table 5 Asia-Pacific Lubricant Additives Market: By Country, 2014-2022 (USD Million)
Lubricant Additives Market List of Table to be Continue……,
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