Albany, NY -- (SBWIRE) -- 05/08/2018 -- Companies exhibiting a prominent presence in the global zinc dialkyldithiophosphate (ZDDP) additives market for zinc dialkyldithiophosphate (ZDDP) additives include Prasol Chemicals Pvt. Ltd., Rislone CamGuard, AMSOIL, Mukund Anderson Inc., ZPlus, LLC, Infineum International Limited, Afton Chemical Corporation, and Chevron Oronite Company LLC, notes Transparency Market Research (TMR). A number of leader players are increasingly focusing on innovative product launches and spending substantial amounts in research and development activities, in a move to stay to ahead of their competitors. Several top players are harping on aggressive marketing as a key strategy, in a move to consolidate their positions in the ZDDP market.
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A growing number of players are also offering products that can meet a variety of performance needs, which helps them gain a better foothold in the global market. The ease of procurement of various manufacturing technologies is attracting new players in the market.
The global zinc dialkyldithiophosphate market is projected to rise at a CAGR of 1.6% from 2017 to 2025. The market was worth US$2,717.82 million in 2017 and is estimated to touch a valuation of US$3,085.79 million by the end of the forecast period.
The key product types of ZDDP additives comprise primary alkyl and secondary alkyl. Of the two, the secondary alkyl formed the leading segment in 2016 accounting for the major revenue share. The widespread uptake of the segment can be attributed to a highly attractive profile of ZDDP additives, characterized by marked hydraulic stability and significant antiwear protection abilities.
Geographically, Asia Pacific is set to be the most attractive market presenting abundant lucrative opportunities for players. The regional market, led by China, held the major share in 2016 and is anticipated to be worth US$1,189.68 million by the end of the forecast period. The growth will be fueled by the substantially rising automobiles industry and the rapid strides taken by the manufacturing sector in various emerging economies.
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Extensive Use as Antiwear Additive in Automotive Engine Oil to Boost Market
The substantially rising application of ZDDP additives in the automotive industry is a prominent factor driving the market. The widespread use of these additives as antiwear additive in automotive engine oil to help run engines smoothly is a notable factor bolstering the demand. The rising popularity of ZDDP additives as largely cost-effective antiwear additive to be used in making lubricants and greases is accentuating the growth of the market. The rising use of ZDDP additives for preventing surface microwelding and minimizing wear and tear in metal-to-metal friction is also boosting the market. The staggering demand for these additives in aftermarket lubricants is also accentuating the market
The striking strides being experienced by the automobile and automotive industry in a number of emerging economies, notably in Asia Pacific, are likely to create abundant opportunities for market players over the assessment period.