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Lubricant Additives Market Analysis By Product, By Application And Segment Forecasts To 2024

Lubricant Additives Market Analysis By Product, By Application And Segment Forecasts To 2024

  • May 2018
  • 120 pages
  • ID: 5369870

Summary

Table of Contents

Lubricant Additives Market Analysis By Product (Dispersants, Viscosity Index Modifiers, Detergents, Anti-Wear Additives, Antioxidants, Friction Modifiers), By Application (Automotive (HDV and LDV), Industrial (Metalworking Fluids, General Industrial Oil, Industrial Engine Oil)) And Segment Forecasts To 2024

The global lubricant additives market is expected to reach USD 18.85 billion by 2024, according to a new report by Grand View Research, Inc. Stringent regulations regarding the permissible amount of carbon emission in the atmosphere are expected to remain a key driving factor for global lubricant additives market. Additive prices witnessed a significant decline in 2015 as a result of fluctuations in prices of key raw materials. Their prices are heavily dependent on prices of calcium carbonate, zinc metal, and crude oil.

Viscosity index improvers were the leading product segment with demand share estimated at 23.3% in 2015. Friction modifiers, which act as a cushion between two coated surfaces thereby minimizing surface contacts, are expected to register highest volume growth of 3.5% over the forecast period.

Further key findings from the report suggest:
Global lubricant additives market demand was 4.28 million tons in 2015 and is expected to reach 5.36 million tons by 2024, growing at a CAGR of 2.5%from 2015 to 2024

Automotive lubricants were the largest application segment and accounted for over 59.5% of total market volume in 2015. Increasing passenger car production and consequent sales particularly in China, India, Thailand, and Indonesia is expected to drive this segment over the forecast period.

General industrial oils were the largest segment for industrial lubricants and accounted for over 35% of its volume in 2015. Recovery of manufacturing sectors in North America and Europe along with high industrial output in Asian markets is expected to drive the segment growth.

Passenger car motor oil was the leading segment for automotive lubricant additives with its demand estimated at over 900 kilo tons in 2015. Consumption is expected to be driven by developing aftermarket for lubricating oils in emerging economies.

Asia Pacific emerged as the leading regional market with demand share exceeding 30% in 2015. High demand for passenger cars in China, South and Southeast Asia along with a robust lubricant aftermarket sale is expected to complement the regional demand.

Global lubricant additives market is highly concentrated in nature with Chevron Oronite, Afton Chemical, and Lubrizol being the top manufacturers.Top four companies account for over three-quarters of the industry share.

Other key participants include BASF, Evonik Industries, Chemtura Corporation, Shamrock Shipping & Trading Limited, Infineum International Limited, IOCL, Croda International plc, and Tianhe Chemicals Group.

Grand View Research has segmented the lubricant additives market on the basis of product, application and region:

Global Lubricant Additives Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
Dispersants
Viscosity Index Improvers
Detergents
Anti-wear Additives
Antioxidants
Friction Modifiers
Others

Global Lubricant Additives Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
Automotive Lubricants
Heavy Duty Motor Oil
Passenger Car Motor Oil
Industrial Lubricants
General Industrial Oil
Industrial Engine Oil
Metalworking Fluids

Global Lubricant Additives Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
North America
U.S
Europe
Germany
UK
France
Italy
Russia
Asia Pacific
India
China
Japan
Central & South America
Brazil
Middle East and Africa
Saudi Arabia

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