The lubricant additives market is expected to grow at a CAGR of 2.69% by volume over the next five years to 4,865 KT by 2019. Lubricant additive are primarily used to enhance fuel efficiency, improve performance, and engine protection.
Pune, India -- (SBWIRE) -- 08/30/2016 -- The report "Lubricant Additives Market by Function Type (Dispersants, VII, Detergents, Antiwear, Antioxidants, Corrosion inhibitors, Emulsifiers, & Others), and Application (Automotive & Industrial Lubricants) - Global Trends & Forecast to 2019" defines and segments the lubricant additives market with an analysis and forecast of the market volume and value. The lubricant additives market value will grow to $16.2 billion by 2019, at a CAGR of 2.7% from 2014 to 2019.
Browse 106 market data tables and 27 figures spread through 220 pages and in-depth TOC on "Lubricant Additives Market - Global Trends & Forecast to 2019"
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The lubricant additives market is mainly driven by high growth in the developing nations along with efforts towards fuel economy. In order to achieve fuel economy, extensive research is being done to improve lubricant additives properties and characteristics in order to comply with the technological changes in modern engines and accessories. Technological know-how with fast changing developments is must to track and keep pace with futuristic technologies like DCT (Dual Clutch Technology).
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Economic restraints and reduction of oil drain intervals due to longevity of high quality fuels in developed nations are the major restraints in the recent years. This leads to the slowdown of the lubricant additives business in the Europe region. The Asia-Pacific region is the potential emerging market due to demand and developments in automotive and industrial segments. Asia-Pacific markets are price sensitive and are driving the global players to set-up and expand their business by offering lower cost of production. The leading players in the market include BASF (Germany), Afton Chemical Corporation (U.S.), The Lubrizol Corporation (U.S.), and Infineum International Limited (U.K.) along with Tianhe Chemicals Group (China) as the leading regional player in APAC.
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The report covers the lubricant additives market and its trends that concern five regions, namely, North America, Europe, Asia-Pacific, Latin America and Middle East & Africa (MEA). Various applications based on end-use industry, namely, automotive lubricants and industrial lubricants are covered. These have been further broken down by their respective sub segments, such as, heavy duty motor oil (HDMO), passenger car motor oil (PCMO) and other automotive for automotive lubricants and metal working fluids, industrial engine oils, general industrial oils and others for industrial lubricant. Lubricant additives by function types, Dispersants, VII, Detergents, Antiwear, Antioxidants, Corrosion inhibitors, Emulsifiers, Friction Modifiers, EP, PPDs along with others, have also been studied.
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