San Francisco, 15 April , Lubricant Additives Market Analysis By Product (Dispersants, Viscosity
Index Modifiers, Detergents, Anti-Wear Additives, Antioxidants, Friction
Modifiers), By Application (Automotive (HDV and LDV), Industrial (Metalworking
Fluids, General Industrial Oil, Industrial Engine Oil)) And Segment Forecasts
To 2024
The global lubricant additives market is
expected to reach USD 18.85 billion by 2024, according to a new report by Grand
View Research, Inc. Stringent regulations regarding the permissible amount of
carbon emission in the atmosphere are expected to remain a key driving factor
for global lubricant additives market. Additive prices witnessed a significant
decline in 2015 as a result of fluctuations in prices of key raw materials.
Their prices are heavily dependent on prices of calcium carbonate, zinc metal,
and crude oil.
Viscosity index improvers were the leading
product segment with demand share estimated at 23.3% in 2015. Friction
modifiers, which act as a cushion between two coated surfaces thereby
minimizing surface contacts, are expected to register highest volume growth of
3.5% over the forecast period.
Access Full Research Report On Lubricant Additives Market Analysis:
Further key findings from the report suggest:
·
Global lubricant additives
market demand was4.28 million tons in 2015 and is expected to reach 5.36
million tons by 2024, growing at a CAGR of 2.5%from 2015 to 2024
·
Automotive lubricants were the
largest application segment and accounted for over 59.5% of total market volume
in 2015. Increasing passenger car production and consequent sales particularly
in China, India, Thailand, and Indonesia is expected to drive this segment over
the forecast period.
·
General industrial oils were
the largest segment for industrial lubricants and accounted for over 35% of its
volume in 2015. Recovery of manufacturing sectors in North America and Europe
along with high industrial output in Asian markets is expected to drive the
segment growth.
·
Passenger car motor oil was the
leading segment for automotive lubricant additives with its demand estimated at
over 900 kilo tons in 2015. Consumption is expected to be driven by developing
aftermarket for lubricating oils in emerging economies.
·
Asia Pacific emerged as the
leading regional market with demand share exceeding 30% in 2015. High demand
for passenger cars in China, South and Southeast Asia along with a robust
lubricant aftermarket sale is expected to complement the regional demand.
·
Global lubricant additives
market is highly concentrated in nature with Chevron Oronite, Afton Chemical,
and Lubrizol being the top manufacturers. Top four companies account for over
three-quarters of the industry share. Other key participants include BASF,
Evonik Industries, Chemtura Corporation, Shamrock Shipping & Trading
Limited, Infineum International Limited, IOCL, Croda International plc, and
Tianhe Chemicals Group.
Browse More Reports Of This Category By Grand View Research
At: https://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research has segmented the
lubricant additives market on the basis of product, application and region:
Global Lubricant Additives Product Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2024)
·
Dispersants
·
Viscosity Index Improvers
·
Detergents
·
Anti-wear Additives
·
Antioxidants
·
Friction Modifiers
·
Others
Global Lubricant Additives Application Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
Automotive Lubricants
o Heavy Duty Motor Oil
o Passenger Car Motor Oil
·
Industrial Lubricants
o General Industrial Oil
o Industrial Engine Oil
o Metalworking Fluids
Global Lubricant Additives Regional Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2024)
·
North America
o U.S
·
Europe
o Germany
o UK
o France
o Italy
o Russia
·
Asia Pacific
o India
o China
o Japan
·
Central & South America
o Brazil
·
Middle East and Africa
o Saudi Arabia
Access Full Press Release of this Report: https://www.grandviewresearch.com/industry-analysis/lubricant-additives-market
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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