Automotive Crankcase Additives Market to Witness Double Digit CAGR by 2024

Global Automotive Crankcase Additives Market: Overview

The automotive crankcase additives are infused in the crankcase oil as they are active chemical substances which help the engines to offer several benefits such as improvement in the performance, greater engine efficiency, control in the emission, contaminants are under control, and the lubricating properties of the engine oil are improved completely.

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Global Automotive Crankcase Additives Market: Segmentation

The market for automotive crankcase additives is globally fragmented into vehicle type, engine type, and product type. On the basis of vehicle type, the global market is segregated into light commercial vehicles, two wheelers, passenger cars, and heavy commercial vehicles. On the basis of engine type, the market is categorized into diesel engines, petrol engines, natural gas, and others. On the basis product type, the market is divided into friction modifiers, rust inhibitors, viscosity index improvers (VII), anti-misting agents, dispersants, extreme pressure (EP) additives, emulsifiers, antioxidants, detergent additives, pour point depressants, anti-foam agents, anti-wear additives, de-waxing agents, and others.

Global Automotive Crankcase Additives Market: Growth Factors

The market for the automotive crankcase additives will experience a positive market growth in the coming years owing to the increased use of the automobiles in the commercial applications and personal use. The increase in the manufacturing of the vehicles leads to the increase in the demand for the automotive crankcase as both these things go hand in hand. The increase in the disposable income has increased the sales of the vehicles as nowadays vehicles are considered as a necessary commodity thus directly influencing the automotive crankcase additives market positively. In the various countries, governments are taking efforts to reduce the harmful emissions so that the environment is not affected. The automotive crankcase additives are extensively used in minimizing the tailpipe emissions thus increasing its demand in the global market. The factor that will affect the market negatively is the introduction of the electric vehicles hybrid vehicles; these vehicles function on the stored electric power and makes less use of the internal combustion engines thus less dependence on the engines.

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Global Automotive Crankcase Additives Market: Regional Analysis

The global automotive crankcase additives market is regionally diversified into Western Europe, Eastern Europe, Latin America, the Middle East & Africa, North America, and Asia Pacific. The Asia Pacific region has the maximum production of vehicles. In the developing nations such as China and India, a number of vehicles that are produced is greater than the numbers of the prime manufacturers which are present in the Western Europe and North America regions. The production of the vehicles is growing at a steady rate in these countries. Along with this factor and the increased production of the two wheelers in the Asia Pacific region are some of the factors that are contributing to the market growth in this region.

Global Automotive Crankcase Additives Market: Competitive Players

The key market players that are involved in the automotive crankcase additives market include Chemtura Corporation, Evonik Industries AG, Chevron Corporation, The Armor All/STP Products Company, Royal Dutch Shell Plc., BRB International, Petroleum Chemicals, LLC, ABRO Industries, Inc., Afton Chemical Corporation, The Lubrizol Corporation, Croda International Plc., Brenntag Holding GmbH, ENI SpA, Vanderbilt Chemicals, LLC, and BASF SE.

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Automotive Crankcase Additives Market by Geographical Analysis: North America( U.S.), Europe( UK, France, Germany), Asia-Pacific (China, Japan, India), Latin America( Brazil), Middle East and Africa

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