Europe Lubricating Oil Additives Market By Functional Type [Anti Wear Agents, Detergents, Dispersants, Viscosity Index Improvers, Anti-Oxidants, Extreme Pressure Additives, Rust & Corrosion Inhibitors, Pour Point Depressants (PPD), Emulsifiers, Friction Modifiers, Oxidation Inhibitors, Other], Application (Industrial Oil, Metalworking Fluid, Process Oil, Engine Oil, Gear Oil, Hydraulics Fluid, Other), End-User (Industrial, Automotive), Country (Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland and Rest of Europe) – Industry Trends & Forecast to 2026
Lubricating oil additives are the substances that are mainly used to enhance functional fluids and lubricants performance. Each of the additives is added to improve the functioning of one or more additives combined together. Largest use of such lubricating additives is in automotive engine which includes other applications such as hydraulic fluids and gear oils. Some of the major functional additives are detergents, oxidation inhibitors, anti-wear agents, viscosity index improvers and extreme pressure additives etc.
The lubricative oil additives are mainly used in automotive and other industrial applications with customer satisfaction, technical support and flexibility. These additives impart new properties that influence the base oil performance. The best market growth of this market will be most probably in Asia Pacific market in coming future. They are also consumed in auto vehicle industry with mandatory regulations and emission control.
The demand for oil additives in various industrial sectors have been increasing but the one sector that is focused the most is automotive one.
Engine oil lubricants are the one that make almost one half of the lubricant market and therefore have much more demand. They mainly extend the life of automobiles under many conditions such as pressure, temperature and speed. The main wok of lubricants is to reduce friction and heat from the moving parts of vehicles and also prevents various contaminants from doing any damage.
Lubricating oil additives were firstly used in 1920s resulting in increased usage. All types of lubricating oil contain at least one additive.
Europe Lubricating oil additives market is growing at a CAGR of 3.0% in the forecast period 2019 to 2026.
Market Segmentation: Europe Lubricating Oil Additives Market
Europe Lubricating oil additives market is segmented into three notable segments which are functional type, application and end user.
- On the basis of functional type, the market is segmented into anti-wear agents, detergents, dispersants, viscosity index improvers, anti-oxidants, extreme pressure additives, rust and corrosion inhibitors, pour point depressants (PPD), emulsifiers, friction modifiers, oxidation inhibitors and others.
- In November 2018, The Lubrizol Corporation launched flexible, soft and high-Performing Estane 3DP TPU at Formnext 2018. The product will bring advanced, supportable and flexible choices to the 3DP market.
- On the basis of application, the market is segmented into industrial oil, metalworking fluid, and process oil, engine oil, and gear oil, hydraulics fluid and other.
- In September, Clariant and SABIC signed governance agreement defining long term commitment of SABIC as a shareholder with a 24.99% stake that will help in increasing the rate of strategic growth of the company.
- On the basis of end user, the market is segmented into industrial and automotive. Automotive is further segmented into heavy-duty vehicles, passenger car and other.
- In October, the company launched a new range of high performance thermostable pigments under the brand name CATHAYTHERM for thermosetting & thermoplastics applications.
Competitive Analysis: Europe Lubricating Oil Additives Market
Some of the major players operating in this market are Infenium, Lubrizol, Total, Afton, Chevron Corporation and others.
In January 2017 Changzhou Longyu Pigment Chemical CO., LTD. Expanded the South America sale network by entering in Argentina by opening a sales office. Argentina with an increasing economy in the year was one of the best places to invest.
Research Methodology: Europe Lubricating Oil Additives Market
Primary Respondents: Key industry participants, subject-matter experts (SMEs), C-level executives of key market players, Market Intelligence Managers, National Sales Managers and industry consultants.