Market Analysis
The global lubricating oil additives market is predicted to grow at a favorable CAGR between 2018- 2023, as per the recent analysis by Market Research Future (MRFR). Lubricating oil additives, simply put, are chemical compounds that are added to the lubricating oil to offer new properties or improve the base oil’s present properties. Some additives work wonders in suppressing the base oil’s undesirable properties as well. Such additives have extensive applications in the automobile sector for efficient and safe working of the gearbox, engine, and other assemblies.
Various factors are propelling the global lubricating oil additives market growth. As per the latest MRFR report, such factors include growing popularity of lightweight cars, an increase in the manufactures as well as sales of cars in Thailand, Indonesia, and India, breakthroughs in technology leading to the launching of new cars like aluminum trucks & smart cars, and booming automotive industry. Additional factors adding market growth include legislations targeting the fuel emission resulting in formulation changes and effecting additive selection as well as its use, strict monitoring of chemical limits in the automotive additive and fuel, growing use of low-viscosity materials, specification upgrades resulting in the mandatory and enhanced application of dispersants and antioxidants, rapid industrialization, and economic development.
On the contrary, the burgeoning need for electric cars and fluctuations in the price of raw material are factors that may limit the global lubricating oil additives market growth over the forecast period. Besides, the shortage of supply due to the COVID-19 outbreak is also impacting the market growth.
Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global lubricating oil additives market report based on application, type, and end user.
By end user, the global lubricating oil additives market is segmented into industrial, automotive, and others.
By type, the global lubricating oil additives market is segmented into corrosion inhibitor, anti-foam agent, friction modifier, detergent, viscosity index improver, demulsifier, antioxidant, and others.
Based on application, the global lubricating oil additives market is segmented into process oil, industrial oil, hydraulic fluid, gear oil, engine oil, and others.
Regional Analysis
By region, the lubricating oil additives market size report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), Latin America, & Middle East and Africa. Of these, the APAC region will spearhead the market over the forecast period. The booming industrial sector, need to increase the efficiency of machines, and surging demand for lubricating oil additives in the automobile sector in South Korea, Indonesia, Japan, India, and China are adding to the global lubricating oil additives market growth in the region.
The global lubricating oil additives market in North America is predicted to have healthy growth over the forecast period. The burgeoning demand for lubricating oil additives for the region being the second-largest in automotive production is adding to the global lubricating oil additives market growth in the region.
The global lubricating oil additives market in Europe is predicted to have notable growth over the forecast period. Advances in the automotive sector, coupled with the growing need to curb gas emissions & improve fuel economy, are adding to the global lubricating oil additives market growth in the region. Italy, France, the UK, and Germany have the maximum share in the region.
The global lubricating oil additives market in Latin America and the MEA is predicted to have sound growth over the forecast period. Burgeoning demand for automobiles coupled with technological advances is adding to the global lubricating oil additives market growth in the region.
Key Players
Leading players profiled in the global lubricating oil additives market report include Krystal Lubetech Private Limited (India), Lanxess (Germany), BRB International BV (Netherlands), Croda International PLC (UK), Evonik Industries AG (Germany), Afton Chemical (US), Chevron Oronite Company LLC (US), Tianhe Chemicals (China), Infineum International Limited (UK), BASF SE (Germany), and Lubrizol Corporation (US).
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UpMarketResearch offers a latest published report on “Global Lubricating Oil Additives Market Industry Analysis and Forecast 2018-2023” delivering key insights and providing a competitive advantage to clients through a detailed report.
Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Get FREE Exclusive PDF Sample Copy of This Report @ https://www.upmarketresearch.com/home/requested_sample/1946 The scope of the report extends from market scenarios to comparative pricing between major players, cost and profit of the specified market regions.
The generated report is firmly based on primary research, interviews with top executives, news sources and information insiders.
Region-wise Analysis Global Lubricating Oil Additives Market covers: • North America • Europe • China • Japan • Southeast Asia • India The Report covers in-depth analysis as follows: • Chapter 1 Lubricating Oil Additives Market Overview • Chapter 2 Global Economic Impact on Lubricating Oil Additives Industry • Chapter 3 Global Lubricating Oil Additives Market Competition by Manufacturers • Chapter 4 Global Lubricating Oil Additives Production, Revenue (Value) by Region (2013-2018) • Chapter 5 Global Lubricating Oil Additives Supply (Production), Consumption, Export, Import by Regions (2013-2018) • Chapter 6 Global Lubricating Oil Additives Production, Revenue (Value), Price Trend by Type • Chapter 7 Global Lubricating Oil Additives Market Analysis by Application • Chapter 8 Global Lubricating Oil Additives Manufacturers Analysis • Chapter 9 Lubricating Oil Additives Manufacturing Cost Analysis • Chapter 10 Industrial Chain, Sourcing Strategy and Downstream Buyers • Chapter 11 Marketing Strategy Analysis, Distributors/Traders • Chapter 12 Market Effect Factors Analysis • Chapter 13 Global Lubricating Oil Additives Market Forecast (2018-2023) Gain Full Access of Lubricating Oil Additives market industry analysis & forecast 2018-2023 along with complete TOC @ https://www.upmarketresearch.com/reports/Global-Lubricating-Oil-Additives-Industry-Market-Analysis-Forecast-2018-2023“Lubricating Oil Additives Market Industry Analysis and Forecast 2018-2023” report helps the clients to take business decisions and to understand strategies of major players in the industry.
The report also calls for market-driven results deriving feasibility studies for client needs.
Increasing disposable income, technologically advanced products, and rising demand from the automotive and industrial sector are some of the reasons fueling the market growth during the forecast years.Market Size – USD 15.42 Billion in 2018, Market Growth - CAGR of 2.8%, Market trends – industrialization, and growth in the automotive industryAccording to the current analysis of Reports and Data, the global Lubricative Oil Adhesive market was valued at USD 15.42 Billion in 2018 and is expected to reach USD 19.24 Billion by the year 2026, at a CAGR of 3.3%.
Lubricating oil additives are chemical compounds that enhance the performance of functional oils and lubricants.The lubricating oil additives enhance the performance of the lubricants and fluids thus are responsible for providing an efficient and economical performance of machines and appliances.
Rapidly increasing transportation, rising demand for engine oil from passenger cars and commercial vehicles, growing automotive and industrial industry, improved regulations regarding fuel emissions and the advantages of additives to reduce emission and increase the efficiency of automobiles and lubricants are the factors driving the growth of lubricant oil additives market.
Lubricant performance is enhanced through additive, which is substance synthesized for anti-friction properties and improve the chemical and physical properties of base oils, also increasing the equipment life.The lubricating-oil additives are fabricated for the betterment of anti-friction, resistance against chemical, and it has physical properties of oils which comprise of mineral, synthetic, vegetable, that shows improved lubrication features and uplifted the machines life.In lubricant detergent, which is additives are added to neutralize the strong acid present.
There are antioxidant which inhibits oxidation process in the Oil.Lubricating oil additives are finding a broader platform as internet penetration among the region population has increased considerably.
Through this, the lubricant marketers are trying to optimize their supply chain operation and minimizing the cost.
