DUBLIN, June 26, 2014 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/hjd7j7/lubricant) has announced the addition of the "Global Lubricant Additives (Dispersants, VII, Detergents, Antiwear, Antioxidants, Corrosion inhibitors, Emulsifiers) Market - Forecast to 2019" report to their offering.
Lubricant additives are divided into ten major types based on their functions; they are dispersants, viscosity index improvers, detergents, antiwear, antioxidants, corrosion inhibitors, emulsifiers, friction modifiers, EP, PPDs, and others. These are made of raw materials/chemicals such as poly amines, phenols, olefin, maleic anhydride, and others. Automotive lubricants and industrial lubricants are the end-use applications of the lubricant additives.
Lubricant additives find their usage in various industries for one or more applications. It is used for improving fuel efficiency and to better the performance as well as to reduce degradation of machinery and equipment. Their major application is in engine oils for automotive and industrial lubricants. These include heavy duty vehicles, passenger cars, and light duty vehicles, marine and motorcycles, industrial machines such as turbines, compressors, industrial process engines, and others. The automotive industry is the major consumer of the lubricant additives with two-third consumption with respect to industrial lubricants additives market.
Lubricant additive components such as dispersants, VI improvers and detergents dominate the market, capturing nearly 70% of the overall lubricant additives demand. These are used for a wide range of applications, the major one being engines. The lubricant additives industry is experiencing focus shift towards fuel economy, which will result in high growth of friction modifiers and VI improvers in the coming years.
Upcoming opportunities in the lubricant additives market include innovative and environment friendly products through extensive R&D. Continuous R&D and product innovation will result in increased properties, promoting the economic production of these solvents. The other factors that must be taken into account are cleaner fuels, alternate fuel vehicles such as electric cars, and solar cars which have high market penetration, but will still need another decade to be completely commercialized on a global scale. Lubricant additives are expected to play a vital role in the coming years, towards fuel economy, especially contributing to emerging technologies like Dual Clutch Technology (DCT).
The lubricant additive market is expected to grow at a CAGR of 2.7%, by value, over the next five years, to reach $16.2 billion by 2019. Asia-Pacific, with its flourishing economy and rapidly expanding industrial and automotive sectors, is the leading consumer of lubricant additives and will experience the highest growth in demand from 2014 to 2019, followed by North America.
Key Topics Covered:
2 Executive Summary
3 Premium Insights
4 Market Overview
5 Lubricant Additives Market, By Type
6 Lubricant Additives Market, By Application
7 Lubricant Additives Market, By Geography
8 Competitive Landscape
9 Company Profiles
- Afton Chemical Corporation
- BASF SE
- Chemtura Corporation
- Chevron Oronite Company LLC
- Croda International PLC
- Evonik Industries AG
- Infineum International Ltd.
- The Lubrizol Corporation
- Shamrock Shipping and Trading Limited
- Tianhe Chemicals Group
For more information visit http://www.researchandmarkets.com/research/hjd7j7/lubricant
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SOURCE Research and Markets