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Global Lubricant Additives Market Analysis 2018 Top Vendors Are Chevron Oronite Company LLC, Croda International Plc, Evonik Industries AG, BASF SE
Press release from: Data Bridge Market Research
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
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.
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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.
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
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.
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.
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The global lubricant additives market is segmented based on function type, application, and geographical segments.
Based on function type
On the basis of application
Based on geography
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Major Market Competitors
Some of the major players operating in the global lubricant additives market are:-
Chevron Oronite Company LLC,
Croda International Plc,
Evonik Industries AG,
Infineum International Limited.,
The Lubrizol Corporation,
Shamrock Shipping & Trading Ltd.,
Tianhe chemicals, others
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About Data Bridge Market Research:
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.
Data Bridge Market Research
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