(MENAFN- America News Hour) Market Overview:
The global Lubricant Additivesmarket was valued at USD 15.04billion in 2016 and is projected to reach USD 18.79billionby 2025, growing at a CAGR of 2.50% from 2017 to 2025.
Lubricant additives demand is governed by demand for lubricants. These additives provide enhanced properties to increase the shelf life of lubricant along with improving its efficiency. The demand is high in industrial and automotive application owing to usage of large number of mechanical parts.
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Market Dynamics:
1. Market Drivers
1.1 Increasing focus on fuel economy
1.2 High growth in developing economies
2. Market Restraints
2.1 Growing demand for alternate fuels
2.2 Economic restraints
Market Segmentation:
The global Lubricant Additivesmarket is segmented on the type, application, and region.
1. By Type:
1.1 Viscosity Index Improvers
1.2 Detergents
1.3 Dispersers
1.4 Corrosion Inhibitors
1.5 Friction Modifiers
1.6 Anti-Wear Additives
1.7 Antioxidants
1.8 Extreme Pressure Additives
1.9 Emulsifiers
1.10 Pour Point Depressant
1.11 Others
2. By Application:
2.1 Automotive
2.1.1 Heavy Duty Motor Oil
2.1.2 Passenger Car Motor Oil
2.1.3 Others
2.2 Industrial
2.2.1 Metal Working Fluid
2.2.2 Industrial Engine Oil
2.2.3 General Industrial Oil
2.2.4 Others
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Afton Chemical Corporation
2. Tianhe Chemicals Group
3. BASF SE
4. Chamrock Shipping and Trading Limited
5. Chemtura Corporation
6. Lubrizol
7. Chevron Oronite Company
8. Infineum International
9. Croda International
10. Evonik
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Lubricant Additives Marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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