Global Lubricant Additives Market is expected to reach USD 18.9 billion by 2025, from USD 15.7 billion in 2017 growing at a CAGR of 4.7% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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.
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Competitive Analysis: Global Lubricant Additives Market
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.
Major Market Competitors/Players: Global Lubricant Additives Market
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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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
Market Segmentation: Global Lubricant Additives Market
- The global lubricant additives market is segmented based on function type, application, and geographical segments.
- Based on function type, the global lubricant additives market is segmented into dispersants, vii, detergents, antiwear, antioxidants, corrosion inhibitors, emulsifiers & others
- On the basis of application, the global lubricant additives is classified on automotive & industrial lubricants
- Based on geography, the global lubricant additives market report covers data points for 28 countries across multiple geographies namely 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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