Asia Pacific Lubricants Additive Market is Expected to Grow at a Significant CAGR During the Forecast Period, Due to Flourishing Economy and Rapidly Expanding Industrial and Automotive Sectors

Asia Pacific Lubricants Additive Market is Expected to Grow at a Significant CAGR During the Forecast Period, Due to Flourishing Economy and Rapidly Expanding Industrial and Automotive Sectors

“The Asia Pacific Lubricants Additive Market poised to reach US$ XX Mn by 2025 with a significant CAGR over seven years forecast period 2019-2025” owing to the flourishing economy and rapidly expanding industrial and automotive sectors.

Precision Business Insights (PBI) in its report titled “Asia Pacific Lubricants Additive Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.

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The Asia Pacific lubricants additive market was valued at US$ XX Mn in 2018 and projected to reach US$ XX Mn by 2025. 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. The enhancement in durability allows effective use of energy resources, provides capabilities to employ alternative fuels, and maintains low levels of exhaust emissions. The use of environment-friendly fuels, including renewable fuels, in both automotive and industrial engines, is expected to drive the demand for lubricant additives over the forecast period. 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.

Asia Pacific lubricants additive market segmented on the basis of product type and application.

Detergents Segment Expected to Dominate the Lubricants Additive Market

Based on the product type, the market is bifurcated into dispersants, viscosity index improvers, detergents, anti-wear agents, antioxidants, corrosion inhibitors, friction modifiers, emulsifiers. Detergent segment is expected to hold the greatest share in terms of revenue in the lubricants additive market. During the equipment (engine) operation, dirt and oil insoluble products are formed as a result of oxidation. Detergents prevent these products from settling on engine surface, thus preventing the degradation of engine surface. Detergents contain elements, such as calcium, sodium, barium, and magnesium, to aid their purpose of action. They generally form a protective layer around the metal surfaces, to prevent sludge. Detergents are primarily used in automotive lubricants, the demand for which is increasing at a rapid pace across the globe, primarily in Asia-Pacific.
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China Leads the Asia Pacific Lubricants Additive Market

Precision Business Insights (PBI) Asia Pacific lubricants additives market report analyses the market in different countries of Asia Pacific such as China, Japan, India, ASEAN, and Rest of Asia Pacific. According to regional analysis, China is the largest producer of automotive, with more than 24 million vehicles in 2015 and the largest growth in the SUV market, recording a sales growth of over 5%, in 2016. Used car sales have also registered significant growth in the country. In the recent years, the Chinese government has been focusing on recycling waste lubricants, the scope for which is currently limited but is expected to hold a significant growth potential, over the forecast period. The aforementioned factors are expected to offset the overall growth in the lubricant additives market, thereby projecting a moderate growth rate for lubricant additives in the region.

Scintillating Market Strategy Play Vital Role in Lubricants Additive Market

Strategic alliances and development of new technologies and products are expected to provide opportunities for key market players. In order to achieve fuel economy, extensive research is being done to improve lubricant additive properties and characteristics to comply with the technological changes in modern engines and accessories. For instance, in September 2017, BASF commissioned technical lab at Innovation Campus Asia Pacific, located in Navi Mumbai, India.
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Key player’s profiles in the report are Chevron Corp, Afton Chemical Corporation, The Lubrizol Corporation, Infineum International Limited, BASF SE, BRB International BV, Wuxi South Petroleum Additive Co., Croda Lubricants, DOG Chemie, Dorf Ketal, Dover Chemical, Eni SpA. , Evonik Industries AG, Jinzhou Kangtai Lubricant Additives Co. Ltd, King Industries Inc.

Detailed Segmentation

By Product Type

o Dispersants
o Viscosity index improvers
o Detergents
o Anti-wear agents
o Antioxidants
o Corrosion inhibitors
o Friction modifiers
o Emulsifiers
o Others

By Application Type

o Automotive lubricants
o Industrial lubricants

Geography

o Asia-Pacific
 China
 Japan
 India
 ASEAN
 Rest of Asia Pacific

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Kemp House,
152 – 160 City Road,
London EC1V 2NX

This release was published on openPR.