(MENAFN- America News Hour) Lubricating Oil Adhesives market Overview
The Global Lubricating Oil Adhesives market research
report gives an in-depth evaluation of the sectors for the forecast years from
2019-2026. The Lubricating Oil Adhesives sector report comprises the market
size, CAGR, market share, end-user applications, and future growth trends. The
market research on Lubricating Oil Adhesives is definite but involves all
essential market information that is vital to a customer of the industry.
The global lubricating oil additives market is forecast
to reach USD 18.40 Billion by 2026, according to a new report by Reports and
Data. The rise in demand for additives in the automotive industry will drive
market growth. Lubricant oil additives enhancse the properties of the
lubricants, thus providing an efficient and economic performance of the engine.
Moreover, these compounds prevent corrosion, improve the viscosity index, and
act as antioxidants to extend hardware durability. Furthermore, lubricating oil
additives are also used as detergents to stabilize the dirt in oil
formulations.
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Lubricating oil additives can
also be defined as chemical compounds added to lubricating oil to provide new
properties or enhance the present properties of the base oil. Some additives
help suppress the undesirable properties of the base oil as well. These
additives are mainly applicable in the automotive industry to allow for the
safe and efficient working of the engine, gearbox, and other assemblies.
The following manufacturers have been studied in this
report by assessing the sales, gross revenue, and market share for each
company:
Afton Chemical, Evonik
Industries, Lanxess, BRB International, BASF, Infenium, Lubrizol Corporation,
Croda, Clariant, and Dorf Ketal, among others.
Lubricant oil additives are used in compressors and
refrigeration systems to increase the lifespan of the machine. The additives
that improve the existing properties of the lubricating oil are corrosion
inhibitors, anti-foaming agents, and antioxidants, whereas pour-point
depressants and viscosity index improvers help suppress the undesirable properties
of the base oils.
North America is forecasted to hold a market share of
20.9% in the year 2026. The region is the second-largest region for automotive
production, which in turn raises the demand for lubricating oil additives. The
U.S. is the major contributor with its high per capita vehicles in the world.
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Segments covered in
the report:
Functional Type
Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- Dispersants
- Detergents
- Anti-oxidants
- Anti-Wear Agents
- Viscosity Index Improvers
- Rust & Corrosion Inhibitors
- Emulsifiers
- Pour Point Depressants
- Friction Modifiers
- Extreme Pressure Additives
- Others
Application Outlook
(Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- Engine Oils
- Hydraulic Fluids
- Process Oils
- Metalworking Fluids
- Gear Oils
- Industrial Oils
- Others
Industries Outlook
(Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- Automotive Sector
- Industrial Sector
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Salient Trends of the Lubricating Oil Adhesives Market
- Lubricating oil additives
enhances base oil properties with corrosion inhibitors, antioxidants,
demulsifying agents, and anti-foam agents. It suppresses undesirable base oil
properties with viscosity index (VI) improvers and pour-point depressants and
imparts new properties to base oils with detergents, metal deactivators,
extreme pressure (EP) additives, and tackiness agents.
- Additives added to the oil
reduce or eliminate internal rust and corrosion by forming a protective barrier
to repel moisture from metal surfaces. Metal deactivators are another form of
corrosion inhibitors.
- Increase in the number of
automotive vehicles owing to the higher living standards, increase in per
capita income, and change in preferences of the consumers are also driving the
market growth. Due to the rise in construction activities and economic
development, India and China have also witnessed an increase in the active
number of automotive vehicles.
- The growing need to reduce gas
emission and enhance fuel economy along with growth in the automotive sector is
projected to push the demand for lubricating oil additives in Europe. Major
contributors in the region are France, Germany, the UK, and Italy.
- Rising trend of electric
vehicles is gaining popularity owing to their zero-emission properties, which
are also influencing the demand for the lubricant oil additives market.
Regional Landscape Analysis for Lubricating
Oil Adhesives Market:
North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South
Africa)
Market-O-Nomics:
- The valuation for the
lubricating oil additives market was USD 14.99 Billion in 2018, and it is
expected to reach USD 18.40 Billion by 2026.
- Viscosity Index improvers are
forecasted to grow with a CAGR of 2.2% during the forecast period. These
improvers prevent the oil from thinning out as the temperature increases.
Viscosity Index improvers also help in better oil flow at low temperatures and
achieve high-VI hydraulic and gear oils for enhanced start-up and lubrication
at low temperatures.
- The industrial sector is
forecasted to grow with a CAGR of 2.4% during the forecast period. Economic
development and industrialization are the major reasons for the high demand of
lubricating oil additives in the industrial sector.
- Gear oil is forecasted to grow
with a CAGR of 3.2% during the forecast period. This lubricant is made
especially for transfer cases, transmission, and differentials in trucks,
automobiles, and other machinery. Many gear oil for manual gearboxes contains
extreme pressure (EP) additives and antiwear additives to cope with the sliding
action of hypoid bevel gears.
- The Asia Pacific region held a
market share of 46.9% in the year 2018. Increased demand for global lubricating
oil additives, especially in the automotive sector from China, Japan, India,
South Korea, and Indonesia are driving the market. Additionally, the growth of
the industrial sector and the need to increase the efficiency of the machines
will propel the growth of the market.
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The report will offer a clear view of each and every fact
relating to the industry, rendering it unnecessary to refer to any other source
of information or a data source. Our report will deliver all details relating
to the historical development, existing scenario, and accurate insights into
the Lubricating Oil Adhesives Market.
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