Future of Lubrication Additives Market | Expected to Reach $17,153 Million

Lubricant Additives Market is expected to garner $17,153 million by 2022, registering a CAGR of 2.6% during the forecast period 2016-2022. Lubricant additives are organic or inorganic chemical compounds, which are either dissolved or suspended in lubricants and functional fluids to improve their performance.

These compounds are utilized individually or formulated as a package according to the end-use application. Consumption of lubricant additives is major in heavy-duty and passenger car lubricants in the automotive segment, followed by metalworking fluids and industrial engine oils in the industrial segment. The major additive types include dispersants, viscosity index improvers, detergents, anti-wear agents, antioxidants, corrosion inhibitors, friction modifiers, and emulsifiers, among others.

Download Your [PDF] Report Sample: http://bit.ly/2wlpJsS

Constantly increasing marine and aviation transportation, growing automotive industry, and improved emission regulations in conjunction with fuel economy standards are driving the lubricant additives market growth. However, higher drain intervals for high-grade lubricants inhibit the market growth owing to lubricant solutions with decreased maintenance costs and servicing. In addition, the fluctuations in the lubricant market are responsible for the relatively low growth rate of the world lubricant additives market.

It is segmented based on type, application, and geography. Based on type, it is divided into dispersants, viscosity index improvers, detergents, anti-wear agents, antioxidants, corrosion inhibitors, friction modifiers, emulsifiers, and others. By application, the market is bifurcated into automotive lubricants and industrial lubricants. Automotive lubricants are further segmented into heavy-duty, passenger car, and other automotive. In addition, industrial lubricants are divided into metalworking fluids, industrial engine oils, general industrial oils, and others.

Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. The rapidly growing economies in Asia-Pacific have tremendous potential for lubricant additives as the rapidly evolving lifestyle demographics are driving automotive sales and industrial development.

Key players are majorly adopting product launch and expansion strategies, as introduction of new and improved products is crucial for market penetration as the need for high-grade lubricants is increasing.

The key players profiled in the report include
BASF SE,
Evonik Industries AG,
Infineum International Limited,
Chevron Oronite Company LLC,
Chemtura Corporation,
Lubrizol Corporation,
Croda International PLC,
Afton Chemical Corporation,
Vanderbilt Chemicals LLC, and Rhein Chemie Corporation.

Get More Information: http://bit.ly/2Lz8NVy

About Us:

Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
Shriram Dighe
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1⟨855⟩550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com

This release was published on openPR.