-- Lubricant Additives Market Overview:
Commenting on this report, an analyst from Market Research Future s (MRFR) team said: Published on August 2015 states the most important function of 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 additives market is expected to reach USD 17.1 billion by 2022.
Stringent environmental regulations regarding permitting carbon emission in atmosphere and increasing sales of automotive industry specially passenger car that has high performance and long service intervals are driving this market. However, fluctuation in price of raw materials such as calcium carbonate, zinc metal, and crude oil will hinder the growth of the market.
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Lubricant Additives Market Key Players:
Market Research Future (MRFR) recognizes the following companies as key players in the global lubricant additives market: BASF SE, Chemtura Corp., Chevron Oronite, Croda International, Evonik Industries, Infineum International, Lubrizol Corp, Shamrock Shipping & Trading Limited Tianhe Chemicals, Afton Chemical Corporation and others.
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:
The market is classified and analyzed on the basis of geographical segmentation which includes North America, Europe, Asia-Pacific, Middle East and Africa. Out of these, Asia-Pacific accounts for the largest share with respect to growth of the lubricant additives market and is expected to further. In North-America the U S contributes maximum in the growth of this market followed by Europe growing at the CAGR of % which has started in 2016 to and is expected to continue till 2022.
Demand for lubricant additives in the U.S is expected to increase to 3.8 billion in 2017. Additives such as antioxidant and friction modifiers which provides longer lubrication and fuel efficiency benefits will see the strongest demand growth. Automotive applications tend to be highly technical and present a larger market for both finished lubricants and lubricant additives than industrial uses. However, demand for additives in automotive lubricants will be restrained due to weak growth in vehicle usage, lengthening service intervals, and little room to further increase additive concentrations. This will have the largest impact on additives, including dispersants and detergents, which are a major component of engine oils and account for the largest share of total lubricant additives demand. Environmental concerns will play a major role in lubricant additives. Such as expanding use of biodiesel in the motor vehicle fuel pool will require better oxidation and corrosion protection from lubricants. In contrast, falling sulfur content in marine fuel oil may reduce the need for detergents in marine engine lubricants.
Lubricant Additives Market Table of Content:
1 Executive Summary
2 Scope of The Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Lubricant Additives Market
Lubricant Additives Market Table of Content to be Continue ,
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