SAN FRANCISCO, October 16, 2018 /PRNewswire/ --
Global Lubricant Additives Market is expected to grow at a significant CAGR of 4.3% by 2023, as the scope and its applications are rising enormously across the globe. Lubricant additives are termed as a chemical component which provides one or many functions in the fluid, when used at a specific treat rate. They are mainly used to reduce the friction stress between surfaces. It helps to advance the present base oil, suppress undesirable base oil, and impart new properties to base oil with extreme pressure additives. Lubricant Additives Market is segmented based on types, application, and region. Detergent or dispersant additive, anti-oxidant additive, extreme-pressure additive, anti-foaming additive, anti-wear additive, and friction modifier are the types that could be explored in lubricant additives in the forecast period. The market may be categorized based on applications like industrial lubricant and automotive lubricant that could be explored in the forecast period. Industrial lubricant sector comprises general industrial oils, metal working fluids, industrial engine oils, and others. On the other hand, automotive lubricants sector comprises passenger car motor oil, heavy duty motor oil, and others. Automotive sector may account for the substantial market share of Lubricant Additives and is estimated to lead the overall market in the coming years.
Lubricant Additives Market is segmented geographically into Americas (North America, South America, and Latin America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), Latin America (Mexico, Argentina, and Brazil), Middle East (UAE, Saudi, and Qatar) and Africa (South Africa). Globally, Asia Pacific may account for the substantial market share of Lubricant Additives and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be presence of key manufacturers in the region, rising several activities in automotive, construction, and industrial sector, and cost-efficient production. The developing countries like India and China are the major consumers of Lubricant Additives in this region. Instead, Europe and North America are also estimated to have a positive influence on the future growth. North America is the second largest region with significant market share. However, Europe is estimated to grow at fastest pace with the highest CAGR in the foremost period. The key players of Lubricant Additives Market are Tianhe Chemicals Group, BASF, Afton Chemical, and Lubrizol. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition.
Access 124 page research report with TOC on "Lubricant Additives Market" available with Radiant Insights, Inc. @ https://www.radiantinsights.com/research/global-lubricant-additives-market-outlook-2018-2023
The report has been prepared based on the synthesis, analysis, and interpretation of information about the global lubricant additives market collected from specialized sources. The competitive landscape section of the report provides a clear insight into the market share analysis of key industry players. Company overview, financial overview, product portfolio, new project launched, recent development analysis are the parameters included in the profile. Demand for this market rises from the passenger car, heavy-duty vehicle, industrial, and other applications. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2023. Relevantly, the report and company profiles specify the key drivers that are impacting the demand in global lubricant additives market.
• Passenger Car
• Heavy-duty Vehicle
•Middle East and Africa
• South America
• Chevron Oronite
• Afton Chemical Corporation
• Vanderbilt Chemicals
•Tianhe Chemicals Group
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Key Questions Answered in this Report:
•What will the market size be in 2023?
•What are the key factors driving the global lubricant additives market?
•What are the challenges to market growth?
•Who are the key players in the lubricant additives market?
•What are the market opportunities and threats faced by the key players?
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