Transparency Market Research has published a new report "Lubricant Additives Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014-2020" to its report store.
Albany, NY -- (SBWIRE) -- 06/08/2015 -- The research report provides an in-depth analysis of the global lubricant additives market, including the growth prospects and strategic inputs from industry experts.According to the findings of the research report, the global lubricant additives market in 2013 was 4093 kilo tons and is further anticipated to be 4934.61 kilo tons by the end of 2020 in terms of volume. The global lubricant additives market is projected to grow positively at 2.66% CAGR between 2014 and 2020.
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The rigid regulations regarding emission and rising count of vehicles are boosting the demand in the global lubricant additives market. Moreover, the technological up-gradation for reducing amount of sulphated ash, phosphorous, and sulfur (SAPS) has enhanced opportunities for the manufacturers in the global lubricants additives market to capitalize on. However, longer engine oil drain interval is a hindrance that the market needs to address in order to ensure sustainable growth in the near future.Lubricants are vital components used for a smooth and efficient functioning of machinery. Lubricants reduce the friction, reduce the wear and tear, and acts as a coolant. As a result, the lifetime of the machinery is extended. These lubricants are produced by blending additives with base oils. The global lubricant additives market has been segmented on the basis of its products such as dispersants, pour point depressants (PPD), VI Improvers, detergents, and other additives. The others segment further includes corrosion inhibitors, metal deactivators, and anti-wear additives. On the basis of volume, the other segment dominated the global lubricant additives market, accounting more than 28% of the total share in 2013.
The global lubricant additives market has been geographically segmented into broad regions such as Middle East, North America, Europe, Asia Pacific, and Rest of the World. Among all the regions, in 2013 Asia Pacific accounted for the largest share of the global lubricant additives market. The region held 30% of the overall share on the basis of volume. In North America and Europe, the permissible limits for emission are very low owing to the rigid emission regulations. However, the high disposable income encourages high quality lubricants additives in these regions.
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The research report further provides a detailed analysis of the market players operating in the global lubricant additives market. Some of the prominent players include Rhein Chemie Rheinau GmbH, Tianhe Chemicals Group Limited, Chevron Oronite Company LLC., NewMarket Corporation, Chemtura Corporation, BASF SE, Infineum International Limited, The Lubrizol Corporation, and Evonik Industries AG. Most of the players are trying to penetrate the most attractive Asia Pacific lubricant additives market by expanding their manufacturing capacities in this region.
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