Global Lubricant Additives Market, By Function Type (Dispersants, VII, Detergents, Antiwear, Antioxidants, Corrosion inhibitors, Emulsifiers & Others) and Application (Automotive & Industrial Lubricants), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)- Industry Trends and Forecast to 2025
Market Analysis: Global Lubricant Additives Market
The Global Lubricant Additives Market is expected to reach USD 18.9 billion by 2025, from USD 15.7 billion in 2017 growing at a CAGR of 4.7% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Lubricant Additives Market
This market report defines the market trends and forecast the upcoming opportunities and threats of the lubricant market in the next 8 years. Lubricant additives are chemical compound that control the friction and enhance the machines performance. Lubricant additives express chemical, physical and anti-friction property of different oils such as bio chemical, synthetic, mineral, and others. The producer of different lubricant can utilize inventory stoke and select different additives for each specific application. Its main application is in automotive and industrial sector. Lubricant additives have various function such as emulsification, anti-misting, inhibiting corrosion, boundary lubricity, extreme pressure (ep), and boosting reserve alkalinity. The major players in the lubricant additives market are making various developments such as launch of new products, opening new research and development centres, and new plants for contributing to the growth of the market. For instance, in Dec 2016, Afton Chemical Corp. acquired Mexico City-based lubricant additive manufacturer and distributor, Aditivos Mexicanos, S.A. In Jan 2017, Evonik acquired a minority stake in Nanotech Industrial Solutions, placing a bet that nanotechnology will become an important tool in the lubricant additive toolbox. In Apr 2017, LANXESS has successfully completed the acquisition of the U.S. Company, Chemtura, one of the world’s leading suppliers of flame-retardant and lubricant additives.
Major Market Drivers and Restraints:
- Next big target is fuel economy
- High growth in developing nations
- Growth of automotive industry
- Lower cost of production
- Drive towards Alternative Fuels
- High quality of fuels and lubes in developed nations
- Economic restraints
Market Segmentation: Global Lubricant Additives Market
- The global lubricant additives market is segmented based on function type, application, and geographical segments.
- Based on function type, the global lubricant additives market is segmented into dispersants, vii, detergents, antiwear, antioxidants, corrosion inhibitors, emulsifiers & others
- On the basis of application, the global lubricant additives is classified on automotive & industrial lubricants
- Based on geography, the global lubricant additives market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Competitive Analysis: Global Lubricant Additives Market
The global lubricant additives market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of lubricant additives market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Lubricant Additives Market
Some of the major players operating in the global lubricant additives market are Chevron Oronite Company LLC, Croda International Plc, Evonik Industries AG, BASF SE, Infineum International Limited., The Lubrizol Corporation, Shamrock Shipping & Trading Ltd., LANXESS ., Tianhe chemicals, others
Research Methodology: Global Lubricant Additives Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others