DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/lvc2rh/lubricant) has announced the addition of the "Lubricant Additives Market by Function Type and Application - Global Trends & Forecast to 2019" report to their offering.
The lubricant additive market is expected to reach $16.2 billion by 2019
The lubricant additives market is expected to grow at a CAGR of 2.69% by volume over the next five years to 4,865 KT by 2019. Lubricant additive are primarily used to enhance fuel efficiency, improve performance, and engine protection. The 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 report covers the market and its trends that concern five regions, namely, North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa (MEA).
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. Automotive industry is the major consumer of the lubricant additives with two-third consumption with respect to industrial lubricants additives market.
Asia-Pacific, being the global manufacturing hub of the world, is the largest market for lubricant additives. Emerging economies such as China and India, and growing activities in the construction, industrial and automotive sector provide a further push to the market. Lower cost of production has provided a great opportunity for the global players to place them in the Asia-Pacific region, especially, in the developing nations such as China and India.
Asia-Pacific will continue to lead the market till 2019, followed by North America and Europe. Latin America will be the second most growing market, leaving behind developed economies, such as North America and Europe. Europe will experience the slowest growth among all the regions due to economic slowdown and use of high quality lubricants. In the lubricant additives market, the industry comprises several global and regional players such as BASF (Germany), Lubrizol (U.S.), Afton Chemical (U.S.), and Tianhe Chemicals Group (China), among various others.
Scope of the report:
On the basis of lubricant additive type:
- VI Improvers
- Corrosion Inhibitors
- Friction Modifiers
- Extreme Pressure (EP)
- Pour Point Depressants (PPD)
On the basis of application:
- Automotive lubricants
- Heavy duty motor oil (HDMO)
- Passenger car motor oil (PCMO)
- Other Automotive
- Industrial Lubricant
- Metal Working Fluids
- Industrial Engine Oils
- General Industrial Oils
- 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/lvc2rh/lubricant
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Source: Research and Markets