North America 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

North America 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 North America 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 “North America 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 North America 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.

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North America 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.
U.S Leads the North America Lubricants Additive Market

Precision Business Insights (PBI) North America lubricants additives market report analyses the market in different countries of North America such as U.S., Canada. The lubricant additives market in North America has plateaued, however, the practice of using lubricants to maintain machineries will enable the market record steady growth in the region. U.S. is expected to lead the North America lubricants additive market owing to a steady increase in the population, newer innovations in the automotive sector.

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 North America
 U.S.
 Canada

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

This release was published on openPR.