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Top Key Players of “Global Lubricant Additives Market” like Chevron Oronite Company LLC, Croda International Plc, Evonik Industries AG Dominating the Industry at CAGR 4.7% through 2018-2025
Global Lubricant Additives Market – Industry Trends and Forecast to 2025
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
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Market Definition:
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.
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.
Competitive Analysis:
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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Market Segmentation:
The global lubricant additives market is segmented based on function type, application, and geographical segments.
Based on function type:- Dispersants, vii, detergents, antiwear, antioxidants, corrosion inhibitors, emulsifiers & others
On the basis of application:- Automotive & industrial lubricants
Based on geography:- North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
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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
• Economic restraints
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,
• BASF SE,
• Infineum International Limited.,
• The Lubrizol Corporation,
• Shamrock Shipping & Trading Ltd.,
• LANXESS,
• Tianhe chemicals, others
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