The major driving factors of this market are the emerging economies in the Asia-Pacific region, as it accounts for nearly 30% of the lubricant additive demand. The growing construction, manufacturing, and automobile industries, with no strict environmental regulations, fuels the demand for moderate quality lubricant additives, due to price sensitivity in the region. This has made Asia-Pacific a global manufacturing and commercial hub where several major companies are setting up their new plants to target high growth markets. Cheap labor and easy availability of feedstocks are major factors that attract manufacturers in the region. Europe and North America, on the other hand, have several environmental regulations that drive the market of alternative fuels, which includes compressed natural gas (CNG), liquefied petroleum gas (LPG), and bio lubricants. This is expected to decrease the demand for lubricants, because their life increase with these fuels, resulting in delayed oil change intervals.
The lubricant additives market has been analyzed in terms of both volume (KT) and value ($Million) for the function types and in volume (KT) for the applications for the five regions, namely, North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa (MEA).
♦ Major Key Players -
This lubricant additives report analyzes various marketing trends and establishes the most effective growth strategy in the market. It identifies market dynamics such as drivers, restraints, opportunities, burning issues, and winning imperatives. Major companies such as Lubrizol (U.S.), BASF (Germany), Chevron Oronite (U.S.), Afton (U.S.), Chemtura (U.S.), Infineum (U.K.), Croda (U.K.), Tianhe Chemicals Group (China), Evonik (Germany), and Shamrock Shipping And Trading Limited (Cyprus) have also been profiled in this report.
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The report "Lubricant Additives Marketby Function Type (Dispersants, VII, Detergents, Antiwear, Antioxidants, Corrosion inhibitors, Emulsifiers, & Others), and Application (Automotive & Industrial Lubricants) - Global Trends & Forecast to 2019" defines and segments the lubricant additives market with an analysis and forecast of the market volume and value. The lubricant additives market value will grow to $16.2 billion by 2019, at a CAGR of 2.7% from 2014 to 2019.
This lubricant additives report analyzes various marketing trends and establishes the most effective growth strategy in the market. It identifies market dynamics such as drivers, restraints, opportunities, burning issues, and winning imperatives. Major companies such as Lubrizol (U.S.), BASF (Germany), Chevron Oronite (U.S.), Afton (U.S.), Chemtura (U.S.), Infineum (U.K.), Croda (U.K.), Tianhe Chemicals Group (China), Evonik (Germany), and Shamrock Shipping And Trading Limited (Cyprus) have also been profiled in this report.
The lubricant additives market is mainly driven by high growth in the developing nations along with efforts towards fuel economy. In order to achieve fuel economy, extensive research is being done to improve lubricant additives properties and characteristics in order to comply with the technological changes in modern engines and accessories. Technological know-how with fast changing developments is must to track and keep pace with futuristic technologies like DCT (Dual Clutch Technology).
The report covers the lubricant additives market and its trends that concern five regions, namely, North America, Europe, Asia-Pacific, Latin America and Middle East & Africa (MEA). Various applications based on end-use industry, namely, automotive lubricants and industrial lubricants are covered. These have been further broken down by their respective sub segments, such as, heavy duty motor oil (HDMO), passenger car motor oil (PCMO) and other automotive for automotive lubricants and metal working fluids, industrial engine oils, general industrial oils and others for industrial lubricant. Lubricant additives by function types, Dispersants, VII, Detergents, Antiwear, Antioxidants, Corrosion inhibitors, Emulsifiers, Friction Modifiers, EP, PPDs along with others, have also been studied.
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